Category: Rpa

'Full Throttle for Finance Automation' Report Reveals Corporate Finance Must Embrace AI-Driven Automation to Drive Efficiency and Strategic Growth

Keypoint intelligence announces the availability of a new study entitled Robotic Process Automation: A North America Analysis of Demand, Key Applications, and Market Size.

As industries thrive, eCommerce fraud grows along as a threat, resulting in substantial financial losses for businesses. To tackle this persistent challenge, the industry can turn to AI-powered overhauls using artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). These advanced technologies provide the means to mitigate losses, prepare for emerging fraud attempts, and ensure a seamless customer experience.

The United States remains the undisputed leader in AI investment, innovation and implementation, according to the fourth annual Global AI Index. The U.S. and China have ranked first and second for the life of the index but Singapore vaulted into the third spot this year, passing the U.K., Canada, South Korea, Israel and Germany.

Headlines began blaring in 2022 about layoffs in the tech sector. According to layoffs.fyi, so far in 2023 more than 200,000 tech workers have succumbed to the whims of organizations retrenching and looking for opportunities to cut costs. For the automation space, however, it’s an opportunity. Because it streamlines workflows, eliminates manual tasks, and minimizes human error, intelligent automation software can lead directly to cost savings for organizations navigating an economic downturn.

While RPA migrations are becoming increasingly commonplace, organizations often have a difficult time determining what automated processes should be moved to their new intelligent automation platform and in what order. Should businesses start with simple automations, enabling them to learn on the fly so they will be better positioned to migrate more complex automated processes easily later in the project? Or is it preferable to tackle the most complex automated processes first, get them out of the way, and then work their way down to the low-hanging fruit?

The Everest Group, a global technology consultant based in Dallas, has released its annual evaluation of the process mining software market. The company, which produces a “PEAK Matrix” report for dozens of technology sectors, named Celonis, Microsoft, SAP Signavio, Software AG and UiPath as “Leaders” in the process mining category. SAP Signavio is the only newcomer to the Leader category this year and Microsoft takes the place occupied by Minit, which it acquired in March.

In any economic downturn, businesses automatically begin retrenching and looking for opportunities to cut costs and become more efficient. As headlines in the tech industry continue to trumpet the bad news of layoffs—perhaps foreshadowing a broader economic slowdown—organizations are exploring automation whenever and wherever possible. Because process automation streamlines workflows, eliminates manual tasks, and minimizes human error, it can lead directly to cost savings.

Employees, who are increasingly asked to produce more with fewer resources, are looking favorably on process automation solutions as a way to keep up, according to the results of a new report. The 2023 Automation Generation Report commissioned by intelligent automation technology provider UiPath found 60 percent of those polled agree that automation software can help alleviate the burnout they are feeling and seeing among their colleagues.

UiPath recently announced a partnership with intelligent automation services provider Peraton to deliver its technology to U.S. government agencies. Peraton, which provides cloud-based managed services to intelligence, defense and civilian agencies in the U.S. government, will now offer their clients, many who operate in sensitive and secure environments, UiPath technology as they continue their automation journeys.