Why its Time for Your Business to Consider Cognitive Automation over RPA

AI-powered tools that use natural language processing make it possible to quickly and easily rebook a flight, regardless of where in the world your employee is or what time of day the request is made. Another important element of employee satisfaction is based on work amenities and convenience — and cognitive automation has a lot to offer here as well. For example, an employee might need to change her flight while on a business trip in order to attend an important last-minute meeting. At Exela Technologies, our managers wouldn’t be able to support our global workforce of more than 22,000 employees without the help of cognitive automation. Among other things, this technology enables us to obtain information from scattered sources, conduct deep analysis, and collaborate more easily.

We’re talking about AI-powered virtual assistants who are not only speedy and efficient in achieving tasks, with almost no room for error, but also think like humans and take actions based on cognition. The ‘cognitive’ powers of new-age AI assistants are capable of much more than mere conversational prowess, unlike the ‘chatbots’ that we come across in our day-to-day lives. Asia Pacific is projected to register a higher CAGR during the forecast period because of rapid digitalization in countries like Singapore, China, South Korea, and India. Rising government initiatives to attract international funding along with the presence of skilled labor may contribute to regional market growth. Cognitive Automation, Robotics, and Artificial Intelligence are creating a quaky shift in the way societies and businesses function and reevaluating the way human works.

Cognitive Automation Enhances Performance with Continuous Learning

However, there are also challenges to overcome, such as regulatory and legal hurdles, as well as concerns around scalability and interoperability. Our approach involves developing customized catering to your business objectives and technological environments. This Automation Anywhere eBook offers 6 proven steps to boost your chances of successfully  deploying cognitive automation.

It analyzes real-time transaction data, identifying anomalies and patterns indicative of fraudulent activities. This proactive approach safeguards the retailer’s assets and protects customers from potential fraud, promoting trust and security in the retail environment. Analyzing customer feedback across various channels is streamlined using cognitive automation. Retailers can gain deep insights into customer preferences by processing large volumes of data from social media, customer reviews, and surveys.

How can Cognitive Automation shape customer and employee experience?

Another challenge of business contract automation is the need to ensure that the automated contract creation and management process complies with applicable legal and regulatory requirements, such as GDPR and CCPA. Therefore, the solution must have the required features to ensure compliance with these regulations. IQ Bot is a cognitive solution that leverages AI to learn from human behavior and to bring structure to unstructured data.

Read more about Cognitive Future for Companies here.