Increase Automation and Reduce Costs With Embeddable AI
Robotic process automation (RPA) is one of the fastest-growing segments in the enterpries IT space. Rapid adoption, driven by simple user interfaces and rapid deployment timelines, have generated massive cost savings for corporate back office teams. As a result, spending on RPA solutions is expected to grow from $250 million in 2016 to over $2.9 billion in 2021 according to Forrester.
Robots are being deployed to automate repeatable, standardized, or logical tasks historically handled manually by back office teams. Despite their utility, these robots are limited to explicit tasks such as updating, validating, and moving data.
To solve this limitation, Skymind incorporates AI with RPA to enable robots to automate more complex, human-driven tasks. These tasks include making approval decisions, flagging fraud, classifying documents to recognizing images.
U.S. insurers can unlock $7 billion in total value — 10-15% of operating expenses — in 18 months by using artificial intelligence to automate certain core administrative functions, according to a new study from Accenture.
The Skymind Intelligence Layer (SKIL) enables corporations to embed AI as a module or activity within existing RPA workflows. Integrated with widely used RPA vendors such as UiPath, SKIL works on top of existing IT infrastructure, bypassing the bottleneck of approving and deploying new software.
Think of SKIL as an add-on to existing tools. It's sole purpose is to make it easy for teams to install, swap, and update machine learning models, accelerating time-to-value. As a result, SKIL supports a wide variety of use cases. For instance, a robot whose job is to sort pre-labeled documents can be upgraded to label AND sort unknown documents, alerting a human only if a document type is truly unknown.
The value of AI + RPA can be evaluated in two ways: flexibility and cost savings.
In terms of flexibility, corporations can empower robots to automate less structured tasks. A brittle task, such as downloading an invoice through an online portal by clicking specific locations on a screen, can be hardened by teaching a computer to learn to navigate despite updates to a user interface. Tasks that require human judgement, such as approving claims or validating signatures, can be offloaded to a computer -- with the goal of looping in humans only for the most difficult cases.
Because of this flexiblity, AI can bring about massive cost savings. Operation teams can be augmented by delegating manual task to robots, leaving only the most complicated situations (such as resolving conflict or dissatisfaction) to human operators. Robots can be applied a wider variety of use cases, increasing the number of tasks being automated. This enables corporations to do more with less while allowing teams to focus time and money on outpacing the competition.