What is hyperautomation?
Recent developments in robotics, artificial intelligence, and machine learning have put entire industries and businesses on the cusp of a new automation age, known as hyperautomation. With 95% of current IT and engineering leaders prioritizing workflow automation, this new opportunity has spearheaded the lead for digital transformation across many businesses.
Combining advanced technology and tools, the new automation age credits its growth to robotic process automation (RPA), a process where “bots” are utilized to expedite manual tasks to increase operational efficiency, accuracy, and error reduction. Although the RPA market is forecasted to increase at double-digit rates through 2024, the hyperautomation market is expected to surpass these metrics, reaching nearly $600 billion by 2022.
This article explores the changing landscape of business automation, especially why hyperautomation matters and the benefits of hyperautomation.
Why is hyperautomation important?
Hyperautomation refers to a superpower automation process combining several key elements: the power of artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and optical character recognition (OCR). At its core, hyperautomation begins with RPA at its base, and broadens the scope of automation through AI and machine learning.
In other words, hyperautomation scales on automation and amplifies its capabilities, building a process that is constantly advancing and improving through data. By adding intelligence to automation, this combination offers the horsepower and flexibility to automate the toughest processes – including undocumented operations that depend on unstructured information.
Independent of an organization’s infrastructure and repetitive labor, automation robots backed by AI and ML can still maneuver unstructured data inputs, and make nuanced decisions. This enables enterprises to quickly address customer expectations and fulfill business goals.
For example, hyperautomated robots can perform tedious yet intuitive tasks such as sales reports, contracts, reading invoices, and official documents. On the other hand, they can also listen, read, and engage in conversations to help respond and identify opportunities at record speed.
What are the benefits of hyperautomation?
It’s also important to understand that hyperautomation is not only limited to machine learning or artificial intelligence. With hyperautomation, you can use automation tools across systems, capturing automation as an entire process versus individual parts. Likewise, the benefits are limitless, including:
- Reducing operational obstacles: Hyperautomation can steer legacy systems and navigate through other functional barriers, pinpointing inefficiencies or obstacles in enterprise operations. Merging AI and RPA helps determine best optimization practices for automated processes, therefore providing the greatest impact points.
- Transforming live agents to digital workers: Strengthen your workforce by deploying digital workers to collaborate with employees for increased productivity or extra assistance. These digital workers, built through hyperautomation tools, can also help consumers navigate knowledge bases, provide support services, and manage accounts.
- Accelerating compound tasks: Hyperautomation pioneers a speedy pathway for digital transformation and increases automated tasks that were previously dependent on human insight and input. By streamlining several internal systems, hyperautomation makes visible the previously hidden interactions between functions, KPIs, and processes.
In essence, hyperautomation mobilizes the power of organizations to connect employees, systems, and automation robots to collaborate for future business outcomes and goals. Read our whitepaper to learn more about aligning your business automation strategy to build a composable enterprise.