TAKE NOTE (Insights and Emerging Technology)
RPA is the fastest growing segment in enterprise software, according to Gartner. Have you heard of hyperautomation? Gartner just named hyperautomation as its #1 strategic technology trend for 2020 (from their recently published “Top 10 Strategic Technology Trends for 2020″ report).
Hyperautomation builds on the momentum behind RPA, led by the democratization of automation and IT and accelerated by the liberation of mundane and repetitive tasks for workers across every industry. In many ways, hyperautomation is redefining work.
Hyperautomation builds on the real success that underlies the phenomenal growth of RPA: ease of automation, speed to outcomes, and a now proven path to applying artificial intelligence (AI) to improve business operations. RPA has delivered digital transformation faster than any other technology by starting with the business first and foremost.
With the launch of our expanded platform at FORWARD III, RPA is now moving beyond task-based automation to include support for more complex processes and long running workflows. Software robots can now interact with business users across core business processes, directly impacting customer experience and satisfaction. In other words, a future where anything that can be automated most likely will be automated.
“By 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes,” according to Gartner.
So, “Automation” today refers to the use of technology that can perform tasks that were previously highly manual or that required a significant amount of human effort. These types of tasks have been perceived as the perfect opportunity for automation in general—and RPA in particular—since automating them helps save valuable time for employees and enables them to focus on higher-value work initiatives.
Now, hyperautomation validates automation but elevates it to show how the combination of RPA and disruptive technologies such as AI, machine learning (ML), process mining, decision management, and natural language processing (NLP), and more can be used together in an end-to-end automation solution.
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UNDER DEVELOPMENT (Insights for Developers)
Digital Transformation – Rewriting The Rules Of Business
While digital transformation is one of the most commonly-used — and over-used — phrases in the IT industry, definitions vary. What everyone can agree on is that, beneath the hype, the fluff and the confusion, digital transformation involves some pretty important changes to business culture via technology.
It’s hard to say when the world became digital, but it has happened, it is happening. And though it’s sometimes hard to see, the evidence of this change grows all around us. Just look at your life, it is now digital. More and more books are read in e-versions; travel reservations take place on a computer screen. Gone are legacy systems and old applications like so much scratch paper. And likewise, business and Government rely more and more on advancing technology like Cloud, AI, IoT, Big Dta and Machine Learning as the means to become more efficient or effective. The idea is to use technology not just to replicate an existing service in a digital form, but to use technology to transform that service into something significantly better.
Digital Transformation is NOW!
At its simplest—and when are these things truly simple?—digital transformation is the process whereby new and existing businesses incorporate digital technology into their operation, to the extent of replacing legacy materials like paper, process monitors, reference books, hand-written anything, even individual human counters, with digital equivalents.
A digitally transformed business is one that conducts most or all its operations digitally, without resort to the slower transactions performed by paper, phone call, report writing, or any of the dozens of other functions previously necessary to running a business. Digital equivalents to legacy systems are faster, more efficient, infinitely scalable, automatic, and vastly accommodating to new data.
Examples of Digital Transformation Solutions…
McDermott International is creating a digital twin, which is a computer model of the oil and gas platform facilities it provides to clients. The firm envisages a 15 per cent boost to operational margins by using the design-twin approach in key areas like predictive maintenance. Gartner believes half of industrial firms will use digital twins by 2021.
Rolls Royce’s R² Data Labs initiative uses machine learning, AI and data analytics to create new services. The R² Data Labs team, which includes 200 data architects, engineers, scientists and specialist mangers, has helped Rolls-Royce deliver more than £250m in value through engine-health monitoring activities in the past 12 months.
Logistics firm UPS is placing analytics and insight at the heart of business operations. The firm is using real-time data, advanced analytics and AI to help employees make better decisions. The firm recently launched the third iteration of its chatbot that uses AI to help customers find rates and tracking information.
In the public sector, NHS Blood and Transplant has spent the past two years pushing a digital transformation agenda. Several interesting trials are currently taking place, including around the use of predictive analytics and the likely waiting time for an organ. The ability to understand organ availability has a huge impact on healthcare.
Digital Transformation – The Way Forward
But getting there is not always easy. Most businesses believe they have performed this digital transformation and, according to Forrester Research, 21 percent believe they have completed it. Let me say that again – Twenty one percent of businesses studied believe they have undergone digital transformation, and have finished.
Dig Deeper – RPA and The Story of Work
Q&A (Post your questions and get the answers you need)
Q. I have heard about Digital Transformation at work, but I also here a lot about Business Transformation and IT transformation. I bet these terms are used 100 times a day where I work – but when I asked for clarification, or the differences, it gets very quiet. Do you have a good set of definitions?
A. OK, “Transformation” is a popular buzzword in corporate circles these days. C-suite executives use the term in strategy meetings as they try to quantify ways to manage the unrelenting pressures of a competitive marketplace and shifting technologies.
Here is how I look at each in turn…
Business transformation encompasses the cultural shift and business processes driven by changing market demands; i.e., the company’s culture of change and business drivers.
Digital transformation encompasses the tools and processes implemented to support business transformation; i.e., AI, RPA, Machine Learning. Big Data, HANA, Hadoop…etc..
IT transformation is the reassessment and overhaul of information technology to support digital transformation; i.e., Cloud, Infrastructure as a Service (IaaS)
At ITP, we think meaningful transformation involves a convergence of strategies that leverage information technology in new and innovative ways. Whereas business transformation may seek to change the go-to-market model and digital transformation efforts center around technology-driven solutions to the operational problems impeding that goal, IT transformation creates a framework for the organization to do business differently in every regard.
As an example take Netflix, It went from sending DVDs through the mail to streaming video content online, and later, developing its own content based on analytics concerning customer tastes.
The key here was the logistical and operational changes are informed by the use of data and advances in technology to elicit core transformation of both the business and the industry in which it operates.
Hope this clears it up a little… Again, this is our take and if I have learned anything about the word “Transformation”, is that in and of itself, it is weak in its ability to encapsulate the realities of change and business growth, which is why people sometimes reference different but related aspects of transformation interchangeably.