The Applications of Hyperautomation
To thrive in today's environment, businesses must enhance output, reduce costs, and run more efficiently with hyperautomation.
FREMONT, CA: Hyperautomation is the practice of utilizing automation technologies to simplify all operations within an organization, allowing repetitive tasks to run without human intervention. Hyperautomation transforms current and old processes and equipment through the use of artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). This digital transition can assist a company in achieving cost and resource efficiencies, allowing it to prosper in a more competitive environment.
Hyperautomation can be employed in any industry, and in certain circumstances, the technology is adaptable or pre-configured to meet the specific needs of that firm or industry.
Indeed, according to Gartner's analysis, "by 2024, 80 percent of hyperautomation options will have little industry-specific depth," making them easier to adopt and realize benefits immediately. By 2024, companies should expect to see hyperautomation solutions tailored to specific industries—automotive manufacturing—with industry-specific hooks and capabilities to streamline the process.
The following examples illustrate the benefits of hyperautomation in specific industries.
Healthcare: With so many repetitive processes, contractual obligations, and regulations to adhere to, the healthcare industry is well-positioned to leverage hyperautomation and technologies such as natural language processing (NLP) to provide automated services, accelerate processes, reduce costs, and improve quality.
Industrial:Hyperautomation is comparable to a second industrial revolution. Hyperautomation technologies combined with business process management (BPM) enable manufacturing facilities to generate higher-quality products at scale. Numerous industrial settings also employ old systems and procedures that could be optimized.
Financial services: Financial services require numerous calculations, transactions, and interactions with clients, purchasers, fund managers, and other entities. Hyperautomation, in conjunction with technologies such as optical character recognition (OCR), can help eliminate manual intervention in front and back-end processes while ensuring high-quality outcomes. Additionally, hyperautomation can aid in economic recovery following a pandemic.
Many businesses affected by COVID-19 are prioritizing the deployment of hyperautomation. Globally, industries have faced productivity challenges due to diminished personnel, imposed capacity constraints, and unanticipated demand variations. By automating and accelerating repetitive processes, hyperautomation is being used to address a number of the associated difficulties. Additionally, businesses utilize intelligent automation to improve consistency and quality—frequently at the expense of cost.
IBM and Hyperautomation
If a firm is ready to implement hyperautomation, it is recommended to start with IBM Cloud Pak® for Business Automation. This is a collection of integrated, market-leading software applications designed to assist businesses in overcoming their most difficult operational difficulties.
IBM Cloud Pak for Business Automation combines AI-generated recommendations, impact analytics, and business-friendly low-code tooling to help firms cut customers' manual process time and wait times. With IBM Cloud Pak for Business Automation, firms can better adhere to regulatory requirements, mitigate risk, and reallocate their resources to higher-value activities.