Following is the answer to the RPA question which I have posted in the link,
Robotic Process Automation (RPA) is a preconfigured & predefined software tool used for autonomous execution of repeated & manual processes, transactions, activities and tasks with human exception management. Manual processes are inefficient, prone to errors and lead to client & employee dissatisfaction. RPA allows organizations to automate their workflows and helps in overcoming these issues. Organizations are opting for RPA because,
1. Most non tech organizations still use legacy systems
2. Large number of work force still complete work manually using multiple systems
3. Advantage over outsourcing
Benefits:
1. Reduction in manual effort
2. Improved delivery, quality & compliance
3. Improved client & employee satisfaction
RPA is apt for processes which are well defined, standardized, centralized and repeatable. RPA has gained popularity with organizations across different industries for automating wide variety of tasks.
Examples:
1. Onboarding & profile creation of client/ customer
2. Profile edit/ updation
3. Claim processing
4. Reconciliation & report generation
5. Compliance reporting
6. Data cleansing
7. Compliant processing
8. Order update & processing
9. Sending notifications
10. System access & setup
Artificial intelligence (AI) emphasizes the creation of intelligent machines that work and react like humans. It has become an essential part of the technology industry. Research associated with artificial intelligence is highly technical and specialized. Some of the activities machines with artificial intelligence are designed for include,
1. Speech recognition
2. Knowledge
3. Reasoning
4. Learning
5. Planning
6. Problem solving
AI has two core parts Knowledge Engineering and Machine Learning. Sufficient information is a must for machines to act and react like humans. There should be full access to objects, categories, properties and relations between all of them to implement knowledge engineering. Developing common sense, reasoning and problem-solving power in machines is a herculean task. Machine learning enables an algorithm to evolve. The algorithm is feed huge amount of data so that it can adjust itself and continually improve accordingly. AI also has wide variety of application across different industries.
Examples:
1. Auto pilot in flights
2. Self-driving cars
3. Voice recognition in devices
4. Navigation in maps
5. Smart homes
6. Social networking
RPA and AI are the different ends of a continuum known as IA. RPA is a software tool that mimics human actions, whereas AI deals with the simulation of human intelligence by machines.
Robotic Process Automation
Artificial intelligence
Doing
Thinking
Process centric
Data centric
Rules based
Rules & logic based
Both RPA and AI as a valuable tools can be used by the organizations for technology transformation. The choice of implementing either RPA or AI (or both) depends on the specific use in organization, and ensuring “fit for purpose” is the key.