Keeping up with evolving customer preferences and a dynamic market environment can be an uphill battle for enterprises across industries. In addition, future-focused firms must embrace sustainability and stay on top of emerging trends, all while providing a healthy, nurturing employee experience. To address these complex challenges efficiently and without disruption, enterprise leaders have turned towards Hyper-intelligent Automation (HIA).
Forces behind HIA, and the revolution it is ushering
HIA has evolved from Robotic Process Automation (RPA), by enhancing it with Machine Learning (ML), Artificial Intelligence (AI), and Natural Language Processing (NLP). It is capable of executing complex end-to-end processes that, in the past, would have required a significant amount of human intervention, e.g. in the form of decisions points at various steps in a process. By making AI the centerpiece of its approach, HIA exceeds the scope of RPA – which is primarily focused on handling rules-driven, repetitive tasks. HIA therefore amplifies the potential of Digital Transformation, i.e. truly changing employees’ ways of working, with increased productivity, higher accuracy, and focus on high-value and strategic outcomes.
Studies have shown that HIA saves businesses nearly 30% of their overall expenditure by reducing labor costs and operational expenses. HIA can also personalize customer interactions, leading to higher customer satisfaction and loyalty. Additionally, HIA can provide businesses with real-time insights and analytics, thereby enabling rapid and accurate, data-driven decisions making. By automating end-to-end processes as opposed to individual repetitive tasks, HIA gives businesses a strong competitive advantage. HIA-driven firms can deliver products and services faster, more efficiently and at a lower cost – all crucial differentiators in a fiercely competitive marketplace. Finally, through the scalability and robustness of HIA platforms enterprises can easily respond to increases in demand without the need to hire additional staff.
HIA in practice across industries
With the clear advantages of Hyper-intelligent Automation over conventional RPA, it is not surprising that business leaders are fully embracing a HIA-fueled approach within their organizations. Valued in excess of USD 31B back in 2021, the HIA market has steadily expanded with projected CAGR of over 16% until 2030. As industries continue to face uncertain times, HIA adoption has become a common strategy to future-proof businesses and achieve sustainable growth.
The use cases for HIA are diverse, and its potential benefits extend beyond just increasing efficiency and productivity. The retail industry, for instance, already leverages HIA for personalizing product recommendations, automating inventory management, and applying AI-driven dynamic pricing algorithms. For healthcare service providers, HIA enables automated diagnosis and treatment planning. The BFSI industry leverages HIA-powered chatbots to provide personalized financial advice, streamline loan underwriting, reduce processing times and assist with fraud detection. Likewise, supply chain leaders use HIA to optimize inventory levels and logistics, to enable real-time tracking and monitoring, and to reduce transportation costs.
For instance, global technology and e-commerce leader Amazon recently launched a novel zero-touch’ retail outlet based on HIA, allowing customers to complete their in-store shopping journey without interacting with cashiers, store staff or even a payment machine. There are many similar self-operating applications and tools that showcase the intelligence of this technology. In another example, an automotive major uses HIA in its self-driving cars. Its autopilot system uses advanced sensors and AI algorithms to navigate roads, avoid obstacles, and respond to changing driving conditions.
These success stories reflect how HIA is set to revolutionize various industries and create significant business value through improved operational efficiency, cost reduction and increased innovation.
Experience the future of HIA with Automation Anywhere and HCLTech
The HIA revolution has only just begun. Technological developments make HIA services and solutions increasingly accessible and easy to deploy. However – as is the case with every disruptive technology – it is crucial to take a strategic, carefully considered approach to HIA: Enterprises stand to gain from evaluating their existing operations and processes first, in order to identify the areas with the most impact and transformation potential. This includes ensuring that employees have the relevant skills and training to work in an HIA setup, a crucial factor in maximizing the benefits of HIA and realizing full ROI.
HIA solutions are not one-size-fits-all – given the uniqueness of human expertise and decision making in each organization. It is essential to carefully design and strategically plan for how HIA will complement the human workforce. If executed correctly, HIA can make enterprises and industries more agile, efficient, and responsive to the changing market conditions of today and well into the future. With the right technology partner at their side, HIA enables enterprises to supercharge progress.
To learn more about HIA and how it can transform your business, download the exclusive whitepaper on ‘Leveraging Hyper-intelligent Automation to build future-ready enterprises’.