Getting to Grips with the Cognitive Automation Revolution

As global customer markets rapidly become more sophisticated and accustomed to utilizing cognitive technology in their everyday lives, the customer of tomorrow will not only expect smarter and faster service delivery, but highly intelligent and personalized self-service options will soon become a necessity.  As such, enterprises world-wide are under pressure to advance their business operations to keep up with this market trend. 

Robotic Process Automation (RPA) is already making great strides and fast becoming the technology of choice due to the efficiency gains and rapid attainment of ROI. Global businesses, however, acknowledge that they need to further push the threshold into Robotic and Cognitive Automation (R&CA), by integrating more cognitive tools into their process automations. This is further confirmed by HfS Research estimating a projected spend of 2.7 Billion US dollars by 2021 in AI focused automation, compared to an estimated 1.2 Billion US dollars in regular RPA spend. This is a very strong indication that organizations are already gearing up for the Cognitive Automation revolution. There are still however many unanswered questions, one of which includes how to start the transition from Robotic Automation into Robotic and Cognitive Automation.

Through our partnership with Deloitte, we have identified a need to offer organizations the practical guidance to successfully advance their operational process footprints by successfully transitioning into Cognitive and Robotic Automation. In addition, there is a significant gap between the rate at which smart technology is expanding on a global scale and the ability of enterprises to adopt cognitive technology and related tools. Even though organizations acknowledge that they need to invest in and embrace more intelligent technology, there is much uncertainty on a practical deployment level.

The joint insights report developed collaboratively by Deloitte and NICE Robotic Automation seeks to provide meaningful insights coupled with practical structure to increase the likelihood of success for organizations seeking to embrace cognitive tools.

Some of the key insights of the joint paper include:

R&CA is a Business Transformation

A critical element of this transition, is to embrace the fact that integrating more advanced and cognitive tools into existing process automations is much larger than an IT implementation. Rather, it is a business transformation that will impact an organization's, people, processes and technology.

Agility is Key – Be Willing to Fail Fast

Failure is inevitable as organizations venture into the unknown. A key insight is to fail fast, by clarifying learnings and reoptimizing accordingly. Embracing failure as a key component of the business transformation is key.

A Simulated Banking Self-Service Business Case

The paper contains a simulated business case (within the banking industry) illustrating how a customer interfaces with cognitive technology to open a bank account. It also shows how the various cognitive technologies integrate into and work with an RPA platform in the background.  All the robotic and cognitive elements, taken from this case, are broken down and assessed during each step of the customer interaction. Finally, a full robotic and cognitive toolkit is created based on how each robotic and cognitive tool has been applied in this specific business case.

Conclusion -

When surfing the unchartered waters of the R&CA current there will be many unexpected events and learnings along the way. Embracing a mindset that is open and flexible to continuous improvement and adaptation to change, is critical. With rich knowledge sharing and practical deployment insights, the joint Deloitte & NICE insights paper is intended to empower organizations with the clarity and confidence to pursue successful R&CA projects. 

To download the white paper, click here

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