DIGITAL INTERACTIVE SERVICES
Top Benefits of AI-Powered Automation in Digital Business Operations
As market competition intensifies, businesses today are evolving through the integration of automation and AI. Recent global reports reveal that:
- 20% of business leaders are highly focused on investing in AI automation for tasks like invoicing and contract validation.
- 40% of sales and marketing departments are showing strong interest in AI investments.
- 80% of executives expect the retail industry to invest heavily in AI-driven automation by 2027.
- The industrial AI automation market is projected to grow to $289 billion by 2028, reflecting the rising adoption of AI across various sectors.
By leveraging tools such as RPA, AI, analytics, and process mining, companies can maintain a hybrid workforce of humans and software robots working together to meet key objectives.
In this article, we will explore AI-powered automation, its key components, and how AI automation benefits digital business operations.
What is AI business process automation?
While robotic process automation has been widely used for data management, its limitation lies in handling only structured data. AI addresses this challenge by converting unstructured data into structured formats that RPA can process, enabling more comprehensive automation. Therefore, AI business process automation incorporates artificial intelligence (AI) technologies into systems and processes to perform tasks with minimal human intervention. In contrast to traditional automation that depends on predetermined rules, AI-powered automation uses AI algorithms and machine learning models to learn, analyse, and interpret data, allowing it to adapt and improve over time to be more effective and flexible.
Key components of AI-powered automation
There are three main components that comprise AI-powered automation:
Artificial Intelligence (AI): AI acts as the brain of intelligent automation, performing tasks like language comprehension, pattern recognition, and problem-solving using machine learning. It analyses data to identify trends, offering valuable insights that aid in strategic decision-making and business planning.
Robotic Process Automation (RPA): RPA employs software bots to automate repetitive tasks, such as data entry and form filling. When combined with AI, these bots can handle more complex tasks, make decisions, and predict trends, freeing up human resources for higher-value work.
Business Process Management (BPM): BPM focuses on improving and automating company workflows to increase agility, reduce errors, and boost productivity. It streamlines operations, enhancing customer and employee experiences while driving cost savings.
Top benefits of AI-powered automation
Increased efficiency
AI-driven automation completes tasks faster and more accurately than humans, resulting in significant productivity gains. By automating repetitive, time-consuming tasks, businesses can free up employees to focus on more strategic initiatives. This speeds up turnaround times and improves productivity. In retail, for example, AI-powered systems can track inventory in real time, reorder stock automatically, and predict future needs based on sales data. This reduces the time spent by the staff on inventory management and optimises stock levels.
Cost savings
Automating routine tasks reduces labour costs and operational inefficiencies. AI-driven systems work around the clock without breaks, further increasing cost savings. Over time, these efficiencies allow businesses to reinvest in growth and innovation. For example, AI-powered manufacturing robots perform routine tasks on assembly lines faster and more accurately than humans, reducing labour costs and reducing waste from defects. The initial investment in AI technology results in long-term savings and increased production capacity.
Enhanced accuracy
AI systems minimise costly errors as they are highly accurate and consistent, making them ideal for data-heavy tasks such as analysis, financial forecasting, and quality control. This consistency is particularly valuable in fields like finance, where data entry errors can lead to significant discrepancies. Automating data entry with AI ensures greater accuracy in transaction processing and financial reporting, leading to better compliance with regulations and improved overall accuracy.
Scalability
AI-powered automation easily scales to handle growing workloads without a corresponding increase in costs or effort. This adaptability is especially valuable for rapidly growing businesses. AI systems are scalable, allowing them to manage and meet increasing demands without significant modifications. As business needs evolve, these systems adjust accordingly, offering flexibility in a dynamic market.
Improved customer experience
AI enhances customer experiences by providing personalised service and faster issue resolution.
Chatbots and virtual assistants are examples of AI tools that offer 24/7 support, answering customer queries in real time. AI can anticipate customer needs and deliver customised solutions, resulting in higher levels of satisfaction and a more seamless interaction. By enabling personalised and timely responses, AI-powered automation enhances customer service quality.
Enhanced data analysis
AI excels at quickly analysing large volumes of data, allowing businesses to extract meaningful insights and make informed decisions. For example, in marketing, AI-powered analytics tools analyse customer data to identify purchasing patterns and preferences, helping companies refine their strategies and target specific customer segments more effectively.
Data-driven insights
AI automation generates vast amounts of data, which can be analysed to extract valuable insights. By leveraging AI algorithms, organisations can gain deeper understanding, identify trends, and make data-driven decisions, ultimately driving innovation and maintaining a competitive edge.
AI-powered automation is revolutionising how we work and live. This shift is not just transforming industries - it's reshaping productivity itself. By automating routine tasks, boosting efficiency, and cutting costs, AI-driven automation is shaping the future.
How can Infosys BPM help scale businesses with AI business process automation?
Infosys BPM digital business services offer a comprehensive, tool-agnostic approach to enhance digital operations. Their services span content management, creative design, multi-channel marketing, social media, and digital analytics. With a focus on speed, accuracy, and market impact, they help enterprises streamline processes, improve customer experiences, and achieve better returns on marketing investments.
