Get ready for the era when bots converge with cognitive computing

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Are you ready to lead a workforce that consists of both humans and bots?

You should be. After all, the day is approaching when many of your knowledge workers will be robots. But erase images of cube farms filled with humanoid metallic machines from your mind. We’re talking about software robots, commonly referred to as bots, which will work inside machines to invisibly support your human employees—and, not incidentally—take your company to the next level.

According to a 2016 survey by Cap Gemini, most (86 per cent) organizations say robotic process automation (RPA) can significantly reduce costs, reduce risk, and increase compliance. Other benefits (say 89 percent of businesses) include enhanced effectiveness and efficiency. A full 91 percent believe RPA improves the quality of work produced.

But here’s a new twist on RPA that makes it even more effective. When integrated with cognitive capabilities, RPA can move beyond simply automating standardized business processes to understanding the context for—and making—important business decisions.

In this article, we’ll explain why the combination of RPA and cognitive technologies is so powerful, and why you should use it to automate key aspects of your business.

Automating Complex Processes

Bots are already doing everything from processing accounts payable invoices, to sorting through customer complaints, to highlighting the best-performing stocks in which to invest.

The formal name of the technology making this possible is robotic process automation (RPA). RPA automates complex processes, augmenting human labor in many back-office functions. Businesses across all industries today understand that RPA represents the next big digital transformation of their workforces. In the digital age, it’s how they’ll make the next leap in efficiency and productivity.

Almost all back-office functions are ripe candidates for RPA. But companies are also implementing RPA in finance and accounting, HR, and customer service, blurring the line between front and back offices. Virtually any standardized business process that involves a defined number of steps is a candidate for RPA.

RPA + Cognitive

To many large enterprises, RPA is old news. Companies are already reaping the benefits. They’re eliminating manual tasks, saving money, and freeing workers to work on higher-value activities that focus on the business mission and help meet—or exceed—corporate goals.

The new thing is RPA integrated with cognitive computing. Together, these two technologies make truly extraordinary things possible.

Read the source article at BW CIOWorld.