Digital transformation has become the name of the game, and it remains fundamental as another decade of business begins. Enterprises all over the world are now streamlining their operations and expenditure by adopting business solutions that explore the opportunities of automation and machine learning — especially now that these technologies are easier to use and cheaper to own than ever.
Here are the top projected automation trends for 2020:
Intelligent process automation
Intelligent process automation (IPA) is a set of technologies that combines the redesign of fundamental processes with robotic process automation (RPA) and machine learning. It encompasses five core technologies, namely RPA, smart workflow, machine learning, natural language generation (NGL), and cognitive agents. This scalable technology allows adaptation to evolving data and conditions, making it an excellent tool for automating complex variable processes.
To put it plainly, IPA “takes the robot out of the human.” It has the capability to mimic human activities and habits, and over time, learn to do them more effectively and efficiently. It holds the key to building a business that runs with better process efficiency, improved customer experience, optimized back-office operations, reduced costs and risks, higher workforce productivity, improved monitoring and fraud detection, and conditions that encourage innovation and development.
Handwriting recognition technologies — also known as optical character recognition (OCR) — is a system that allows for handwritten characters to be automatically recognized and accurately processed into digital form. Advanced handwriting recognition can even recognize grammatical and stylistic errors and provide appropriate recommendations thanks to lexicon and spelling checkers.
Interactive documents are PDF or Word documents — bills, reports, or even statements — that have embedded interactive audio, video, and/or navigational buttons. These documents are more informative, versatile, and eye-catching than regular static documents, and they can be used to help improve engagement, increase customer satisfaction, and foster stronger client relationships.
Interactive documents can even be configured to record e-signatures or set up to be accessed and used across several different devices, making it great for mobile use.
Intelligent document analysis
Intelligent document analysis (IDA) takes the linguistic and stylistic capabilities of advanced handwriting recognition a step further by making use of natural language processing, semantic understanding, and machine learning to understand and apply techniques like text classification, text similarity, and summarization. It’s like having an assistant read, understand, and simplify the contents of a document or article, except it can be done automatically, more efficiently, and in a less costly manner.
IDA can also be used for translation purposes, which is great for business across borders. Some IDA technologies are reported to be capable of processing up to tens of thousands of pages in an hour — and on just a single server.
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