By: Dan Johnson, Director of Product Marketing at Kofax
Artificial intelligence (AI) isn’t the new kid on the block anymore. From smart cars to unlocking our phones with face ID, AI is getting smarter by the day, playing a big role in our everyday lives.
But the story changes a bit when it comes to the business world, where AI has more of an up-and-coming status in most organisations. That’s not to say AI doesn’t have a lot of street cred – many organisations expect big things from AI and think it’ll take their digital transformation efforts to the next level. But they’re just not quite there yet and haven’t fully committed to it.
When questioned about the hesitancy around furthering investment in AI-powered business processes, the list of reasons usually includes things like lengthy implementations, complex integrations, and lack of in-house expertise. While these excuses may have been reasonable in the past, the arrival of Pervasive AI has rendered theminvalid.
AI is always getting smarter. Now it’s even smart about how you use it. A state-of-the-art intelligent automation platform has AI capabilities embedded in it. This pervasiveness extends AI capabilities to all, making it easy for users of all skill levels to apply AI technologies to business processes.
This calls for a change in mindset from “we need to understand how AI works before we can fully use it” to “what business problems can we solve with AI?”Organisations that change their approach and embrace Pervasive AI can reimagine business processes and reap the rewards –
an improved customer experience, increased employee satisfaction, faster digital transformation, and more.
At a time when customer and employee expectations are rapidly evolving and becoming harder to meet, now’s the time to realise the full potential of AI. Pervasive AI is here. Will you welcome it with open arms? More importantly, can you afford not to?
Then and Now: Before and after Pervasive AI
Many organisations are using automation to improve the customer experience by transforming the most relevant workflows.Sixty-two percent of organisations have automated the customer experience and more than half (51 percent) automated customer relationship/retention workflows, according to a benchmark study, “Intelligent Automation Platforms Accelerate Digital Workflow Transformation Success.” Another study found 58 percent of companies are automating the digitisation of information, and 52 percent are automating front-desk interactions.
Despite these efforts, many organisations have ended up with a piecemeal approach to automation. In fact, 65 percent of executive decision-makers said their customer acquisition workflows are still largely manual or only partially automated. Clearly, there’s room for improvement. Processes like onboarding and mobile verification must be part of automation initiatives if the full value is to be realised.
Here’s where Pervasive AI can be a game-changer. Many customer-facing workflows are dependent on data – which needs to be captured, extracted, validated and analysed. These types of tasks are ripe for AI. Since they typically occur early in the workflow, automation has a greater impact by improving the overall effectiveness of process transformation.
But customer workflows aren’t the only place Pervasive AI can help. Tasksor processesheavily dependent on content – whether it be applications, forms or unstructured data – are often the best place to start with AI. An initial focus on simpler processes often causing bottlenecks delivers quick wins and demonstrates the power of AI-powered intelligent automation. As excitement builds, other initiatives will quickly develop, moving AI from its up-and-coming status to fully arrived.
The payback can be quite impressive.
Five Business Benefits of Pervasive AI
- Stellar customer experience: It’s hard to think of a customer-facing workflow that doesn’t require data. If the data isn’t accurate or updated, the customer isn’t going to receive adequate service. While there are various tools that can capture, extract and analyse data from documents like an invoice or application, it’s not as easy to do with unstructured data like emails. AI, however, is well-equipped to tackle unstructured data, capable of identifying and organising important information. And that’s not all. Through sentiment analysis, AI provides valuable insight into what customers are thinking and how they’re feeling. An email from an angry customer can be flagged and routed to a trained staff member who can proactively reach out to the customer and resolve the issue. AI can also alert you to negative product reviews, enabling your team to address a potential problem early on, before it becomes a major issue. AI can even leverage CRM data to route customers to the best resources when they contact your organisation, reducing wait times and customer frustration.
- Frictionless onboarding: The customer experience starts on day one with onboarding. A slow and inconvenient onboarding process is a definite turn-off. No one wants to enter the same data in multiple places or be forced to drive to a physical office to sign a document. And today’s customers expect the onboarding process to be fast. AI uses machine learning to transform structured and unstructured data. Technologies like ID verification and capture and facial recognition make it possible for customers to complete the entire onboarding process on their mobile device and move from one channel to another without skipping a beat. With AI, you get off onright foot from the start.
- Improved employee experience: The Great Resignation has made the employee experience just as important as the customer one. Intelligent automation removes manual, mundane tasks like document processing from the daily routine, but AI takes it to the next level.Some intelligent automation platformshave a discovery process that identifies tasks ripe for AI and automation. AI continues to learn and improve over time, further reducing the burden of repetitive, boring tasks. Freed from the mundane, workers also have the freedom to spend more time on more fulfilling, strategic work. Employees are also more productive since they have access to complete and accurate AI-enhanced data.
- Accelerated digital workflow transformation: Organisations are eager to speed up digital transformation, but relying on professional developers alone slows down the process. While Pervasive AI still requires those with technical skills to understand how the AI engine operates and how to adjust it manually to optimise performance, an AI-powered intelligent automation platform opens the door forcitizen developers. These people may lack software development skills, but they more than make up for it in their in-depth knowledge of business processes. Citizen developers can build automation workflows that leverage the power of AI without having to understand how it works. The automation of front- and back-office processes speeds up, enabling innovation and accelerating enterprise-wide digital workflow transformation.
- Better data:It’d be great if the data coming into your organisation arrived in easily digestible packages, but that’s rarely the case. Items like product reviews and emails may contain critical information. Fortunately, AI can sort through the noise in unstructured data, pull out the relevant information, analyse it, and pass it along to the appropriate databases and people. Consider the benefit to your workforce. Human and digital workers can make faster, smarter decisions based on reliable, accurate data.
An AI-powered intelligent automation platform makes artificial intelligence accessible, enabling organizations to focus on the problems they need to solve rather than on the technology needed to do it. Pervasive AI has arrived, bringing with it more satisfied customers, happier employees, and faster digital transformation. Think you can afford not to welcome it with open arms? Think again.