A lot of noise and confusion surrounds cognitive automation due to marketing FUD (fear, uncertainty, and doubt) being thrown up by different vendors. In this blog, I want to share insights Automation Anywhere has acquired after participating in hundreds of proof-of-concepts (POCs) and dozens of successful cognitive automation implementations with our customers.
Software robots in the workplace
As my colleague Derek Toone noted in a recent blog, many enterprises that attempt to transform their operations using a digital workforce hit an ROI brick wall when they start to scale their RPA initiatives. The chief culprit is their failure to achieve “bot velocity,” defined as the continuous cadence and pace at which automated processes are developed and placed in production using bots.
One of the most critical enablers of bot velocity is a well structured and staffed RPA COE (Center of Excellence).
On June 14, 2017, Automation Anywhere’s chief marketing officer, Gary Conway, and principal product manager, Kelly Coupe, hosted an interactive webinar featuring David Jones and Edna Ezzell of our partner, Accenture. Entitled “Introducing IQ Bot,” our hour-long webinar focused on how artificial intelligence-based “bots” used in robotic process automation (RPA) were being enhanced with cognitive capabilities, and what that meant for today’s businesses.
Webinar participants were encouraged to send us their questions during the presentation. We are pleased to provide the answers.
This idea isn’t as far fetched as you may think. And robotic process automation (RPA) and cognitive computing are the capabilities that are enabling the federal government to lead this charge.
For those of you in doubt, look no further than KPMG’s June 6 Government Intelligent Automation Forum as evidence of the direction our federal agencies are taking. Discussions throughout the event focused on how a digital workforce can help improve the federal government’s workplace, while also retaining skilled labor in the midst of aggressive private sector hiring.
It was a standing room-only crowd of 200+ finance operations industry professionals today at the FinTech Conference at Securities Industry and Financial Markets Association (SIFMA) headquarters on Wall Street. I joined Gary Wiedman, Executive Director of UBS, and Mike Wade, Managing Director at Deloitte to speak on the topic of RPA and cognitive in today's securities industry.
A soon-to-be-released study by HfS Research, in conjunction with KPMG, found that 44 percent of BFSI organizations are planning to make significant investments in RPA over the next two years. The study also found that banks and insurance companies prioritize cost savings more than any other industry sector.