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Is Artificial Intelligence the Next Big Thing in Automation Technology?

With the bulk adoption of automation technology in their business model enterprises are thriving in this cut-throat competition. The impact that automation has made in different sectors has added more business value than the leaders were expecting. In the coming future, automation is likely to adapt by major industries for their day to day activities. Stats from McKinsey suggest that the potential automation has a major potential for business value in different sectors as shown in the chart below.

However, the question arises is automation the last stop in the journey of technology adaption?

The answer is no. Imagine adding artificial intelligence to automation technology, and the possible potential for that step. Tech giants have started to adapt to artificial intelligence in a hurry. The artificial intelligence enabled automation will set enterprises free, transforming them in a true next-gen enterprise, a lean operation which is as agile as a start-up, explained Kalyan Kumar, CTO of HCL Technologies on Straight Talk; a thought leadership platform for senior technology leaders.

Artificial intelligence is the electricity that can take automation technology up to its full potential. Intelligent automation has its application from routine to revolutionary tasks of an enterprise. From collecting data and analyzing it to make the decision of guiding advanced robots and autonomous vehicles, the key is intelligent automation.

IA systems streamline decision making by extracting, aggregating and analyzing tons of data in no time. The automated analysis can help executives of various industries in embedding a workflow to receive maximum profits.

Application of IA in Different Industries

Financial Services

The financial service industry has been at the forefront of adopting automation technology to its business models. The process of reviewing research notes for quality and compliance is one of them. Manually analyzing thousands of research is both time to consume and impossible to be done consistently. However, the implementation of IA enterprises have an efficient means of monitoring the quality and value of the notes. It can also help in applying computational linguistics and benchmarks to repeat the process without any human intervention.

Oil and Gas

The operational centre that controls and monitors the exploration and drilling tasks requires a superior level of consistency. Between the onshore and offshore facilities, any chances of error can cause severe consequences. Moreover, as most of the work is done by human resources the chances increase. With the help of IA, the human effort can be replaced by robots. These robots can reduce the risk of human resources by taking their place in the hazardous environment. Faster decision making, effective maintenance of equipment and less effort and time consumption are some of the benefits IA can provide in this industry.

Healthcare

The exponential power of IA is changing healthcare every day. It is making administration and care delivery more seamless and efficient across the health ecosystem. Robots are performing housekeeping duty, streamlining patient intake process and reducing unnecessary rush in the hospitals. IA is not about replacing people it is more about increasing the efficiency and quality of care given to the patients. IA also provides benefits like:

  • Improved data analytics
  • The decrease in operational cost
  • Improved accuracy
  • Increased regulatory compliance
  • Better employee productivity

Defense

Many countries are funding the development of different applications of IA to enhance the safety and effectiveness of their troops. The Boston Dynamics has numerous quadruped, autonomous that can climb, navigate and run almost 30 miles per hour on any terrain. These robots can carry heavy loads and work consistently and follow commands effectively. IA can also help in analyzing data effectively and predict dangerous situations, thus saving human life.

Automotive

The development of autonomous cars is a revolutionary impact of IA in the automotive industry. These cars can sense and navigate their way without any human intervention. Their potential benefits include increased safety, low mobility and infrastructure costs, reduced accidents and higher consumer satisfaction. Major motor giants have been investing in this technology for some time. Tesla, the leading manufactures in autonomous cars, is to release its latest car in the coming year for mass use.

The advances in automation and artificial intelligence, supported by significant capital investments are fueling the era of intelligent automation. Implementation of IA in business models will not only help enterprises in increasing their revenue but also to thrive in future. Dave Waters a leading researcher in IA quotes that “Predicting the future isn’t magic, its artificial intelligence”.

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