The old adage, “if it weren’t for the last minute, nothing would get done” may be a reality for organizations that wait too long to develop robotics and cognitive automation (R&CA) capabilities. Momentum is building as more companies use R&CA technologies to replicate human actions and judgment, thereby performing a wide and growing array of routine tasks. Should your organization get started today or wait for technologies to mature before making a major transformation?
Does a process need to be improved before migrating it to a new technology platform or operating model (fix-shift)? Or should the process be moved to the future environment and then fixed (shift-fix)? That choice, long debated in the business process outsourcing (BPO), offshoring, and shared services worlds, is now confronting decision-makers as they deploy robotics and cognitive automation (R&CA).
Robotics and cognitive automation (R&CA)-driven technologies are already working alongside humans in many settings, replicating their actions and judgment to perform routine tasks at lower cost. I believe R&CA is going to become a dominant business driver in just three short years, so companies should be setting their R&CA strategies now.
Do the numbers add up when it comes to implementing robotics and cognitive automation (R&CA) – technologies that replicate human actions and judgment? They appear to, judging from the growing number of mail order houses, telecom providers, retail banks and others that already have software robots working alongside contact center agents. For those companies, bots are performing many routine tasks, such as validations and cross-referencing, that humans would have to do otherwise.
In our first post on this topic, we addressed the question: Can robots replace HR? While the answer is “not entirely,” there is no doubt this technology represents both a significant disruptor and opportunity for HR. To back it up, our team has spent the last couple months working with early adopter clients and deploying internal Deloitte pilots to better understand the potential of robotics and cognitive solutions within the HR function. Our experience to date indicates there are three primary capabilities where digital options should be considered to supplement and augment the human talent in HR.
Posted by Nitin Mittal on May 5, 2017
How can hospitals reduce insurance company reimbursement denials that cut into their revenue? How can fleet operators leverage enormous data sets soon to be generated by vehicle-embedded sensors? How does an oil company optimize wellhead operations on an offshore rig? Transformative analytics could hold answers to these and many other outcome-focused questions.
Posted by John Houston on April 21, 2017
As big data has exploded, actuaries lead the way in using predictive modeling and data analysis to uncover insights. In fact, the very first mortality tables were a form of predictive analytics: actuaries used historical data to forecast survival rates and applied that insight to make informed choices about insurance and pensions. Today, thanks to ever more sophisticated algorithms generated by expanding computing power and artificial intelligence, predictive models can even take into account behavioral and economic factors.
Posted by Nitin Mittal on April 13, 2017
Intelligent agents and avatars are no longer figments of sci-fi writers’ imaginations. They’re real manifestations of cognitive computing. And they’re here to stay.
Posted by Ryan Renner on March 31, 2017
Everyone’s talking robotic process automation and cognitive automation (R&CA) these days. Not surprisingly, there’s a lot of hype around those discussions—and many misconceptions. Let me take this opportunity to dispel some of the rumors.
Posted by Nitin Mittal on March 16, 2017
Artificial intelligence (AI) may be in the headlines today, but machine intelligence is the future of advanced analytics. Machine intelligence is the collective term for cognitive computing capabilities that create value by augmenting employee performance, automating complex workloads, and developing human-like “cognitive agents.” Machine intelligence should be on your radar, because your competitors are probably all over it.