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 Rajeev Ronanki July 13, 2017
Artificial intelligence (AI) has long been the technology of the future – and the future is fast approaching. As AI matures to become an imminent force of change, in its shadows, machine intelligence (MI) is already enabling organizations to quickly reap the benefits of emulated human intelligence through targeted applications. MI and AI aren’t so different – where AI broadly tries to emulate general human reasoning, MI specializes in the applying human logic and reasoning to specific tasks and processes. Deloitte’s eighth Tech Trends report reveals that machine intelligence (MI) is a trend to watch in 2017. MI will likely become omnipresent as three primary forces converge – the same factors paving the way for ubiquitous AI:
A case for “Society in the loop artificial intelligence”
Posted by Jim Guszcza on May 19, 2017
As automation and robotics fueled by artificial intelligence (AI) become more mainstream, many areas of industry are set to undergo revolutionary changes. New sorts of jobs will likely emerge, some existing jobs will likely undergo transformation, and others may go away. There is good reason for concern about societal disruption, and a pressing need for enlightened societal-level dialogue. But we should not lose sight of the bright side to the creation of machines capable of helping with laborious “spade work.” AI has the potential to create significant value by making us more efficient, extending our intelligence and decision-making capabilities, saving organizations money, and generally helping societies run more smoothly.
Posted by John Houston on May 12, 2017
In the financial services arena, data scientists are taking a seat next to traditional business analysts, tasked with finding value in an ever-expanding quantity of data. By delivering smarter insights using analytics and cognitive technologies, data scientists help address problems in investing and trading strategies, portfolio management, regulatory reporting, client service, and more.
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.