Intelligent Process Automation (IPA) is the use of Artificial Intelligence and related emerging technologies such as Robotic Process Automation, Computer Vision, Cognitive Automation, and Machine Learning. In other words, is a type of technology that allows businesses to automate processes involving structured, semi-structured, and unstructured document types such as forms, documents, text, photos, and video.
IPA can decode the text, photos, documents, and other unstructured data that are essential to so many business operations – and make accurate decisions depending on the context.
Intelligent Process Automation is a one-stop solution for document intake, comprehension, and digitization of structured, semi-structured, and unstructured documents. This convergence of technology has resulted in automation that significantly increases the business value and competitive edge.
Even though Artificial Intelligence and automation are not new concepts in the technology landscape, advances in digital technologies, the availability of sensors, and improved processing power and storage have resulted in an expansion of IPA’s reach in the business sector.
The benefits of Intelligent Process Automation
- Intelligent automation provides advanced smart technology and agile procedures to humans, allowing them to make faster and more intelligent choices. The following are some of the most important advantages of IA in the workplace:
- IPA enables improved efficiency in processes
- Customer satisfaction is higher with IPA and hence paving way for further sales and profits
- Back-office operations are optimized
- Data science and machine learning expertise is not required
- Lowered risks of errors and counterfeits
- IPA also makes the process cheaper and inexpensive
- Improves productivity and efficiency of the employees
- Scams and fraudulence is easily detected with IPA
- Paves way for innovation and strategic analysis
- It helps in streamlining the workflows and offers better visibility and control of these workflows
- In the Cloud, it supports multiple, virtual, and hybrid environments.
- With pre-built integration and extensions, users can automate their processes from start to finish.
- There is no coding involved which makes the process hassle-free
- Instead of waiting months and quarters for results, users can have them in weeks paving way for bigger and better ROI
- IPA facilitates customization and the process is tailor-made according to user preference
- It allows Human resources to focus on higher-value projects rather than low-value, menial tasks
Drawbacks of Intelligent Process Automation
Intelligent Process Automation offers an array of benefits, however, they do have drawbacks that limit the usage of IPA.
- The initial investment of IPA is high
- Automation has taken over the tasks performed by human resources triggering the fear of losing jobs.
- The process of training and reskilling employees has become difficult
- Issues in integrating IPA with conventional systems and models
- It is less flexible
- Higher risk of opposition from employees
Although there are hurdles and drawbacks, the advantages of employing intelligent automation far outweigh those challenges. In most circumstances, those apparent roadblocks can be addressed by adopting IPA
The bottom line
The concept of automation in the digital age is expanding, and technology is growing, incorporating more human brain functions into machines every day.
According to reports, the rapid adoption rate of IPA implies that, throughout the anticipated period, most organizations would prioritize spending in training and ownership of automation technology over engaging in professional services for automation.
Hence, before selecting a process automation system, it is critical to have a clear strategic development plan for the firm in terms of infrastructure, applications, and organization.