Robotics and intelligent automation: Combining the power of human and machine 1
Financial services companies have been embracing
automation for some time now. Robotic process
automation (RPA) has already made its mark, but
articial intelligence (AI) is now attracting huge interest
as businesses explore the potential to unlock value in the
form of improved revenue, customer service, efciency
and risk management.
AI is widely seen as the next business disrupter and
advancing quickly. Those working in the AI eld
believe it is the most disruptive technology we will see
in the next three to ve years. And there’s more to
AI than driverless cars. Financial services companies
are already seeing how AI tools can improve revenue,
efciency and risk management.
However, AI is one part of the future: its real power
comes in combination not only with RPA and digitization
in general, but also with the input of people. Neither
human nor machine alone can outperform human and
machine working together.
We believe nancial services companies can thrive
through “intelligent automation” — the intelligent use
of multiple tools and automation approaches. This
latest paper in our series on robotics and intelligent
automation looks beyond the hype to explain what AI
means for nancial services businesses and how RPA and
AI complement each other. We also identify the types
of activities and processes that are enabled by different
forms of intelligent automation, from processing “margin
call” emails to credit risk management, product pricing
and fraud detection.
Intelligent automation can bring benets for
nancial services businesses, but there are also
challenges to address in order to unlock those
benets. We highlight the most important of these and
suggest how management teams begin exploring the
transformative potential of intelligent automation in
their own operations.
Robotics and intelligent automation (IA) offers
multiple benets for nancial services companies —
but success depends on understanding the strengths
of different tools and automation approaches.
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