The Rise of Hyperautomation

The Rise of Hyperautomation
Artificial intelligence (AI) is playing an increasingly important role in hyperautomation. In this video, we will explore hyperautomation, its journey, and its applications. What is hyperautomation? It is the application of artificial intelligence (AI) to automate business processes. The goal of hyperautomation is to automate as much of the work as possible, using AI technologies such as machine learning and natural language processing. Journey of Hyperautomation It started off with Simple Automation which was tasks or event-based automation. This consisted of using business rules, macros, and APIs. Next, it evolved into Automation of Business Operations which aimed to automate business processes. Next evolution saw Process Automation which was intelligent, event-based, and adaptive such as Robotic Process Automation and Process Mining. Followed by Conversational Intelligence where smart-bots and virtual assistants are used to automate interactions with customers or employees. Finally, Hyperautomation which is a combination of all the above plus artificial intelligence, machine learning and deep learning to automate processes. This is still in its early stages but has great potential. Applications of Hyperautomation Some of the applications of hyperautomation include: Customer onboarding: For automating the processes such as KYC (know your customer), AML (anti-money laundering). Loan processing: For automating various steps such as verification of documents, eligibility check, credit score check, and so on. Pricing and promotions: Using AI and ML techniques we can analyse customer data and can automatically adjust prices and provide personalized promotions to the customers. Predictive maintenance: AI and ML can be used to predict when a machine is going to break down and take preventive measures. Claims processing: AI and ML techniques can be used to automate the process of assessing, verifying, and processing medical insurance claims. As hyperautomation technologies continue to evolve, we can expect to see even more amazing applications of hyperautomation in the future. Hope you found this useful Thanks for watching
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