For those organisations that are in the know, robotic process automation (RPA) is already cutting costs and having a major impact on their efforts at digital transformation. Professional services firm pwc estimates that automating work activities could save up to $2 trillion worldwide.
Companies of all sizes and industries are attempting to "digitally transform" their business, but many of them lack a solid understanding of what digital transformation really is. Rather than using technology to supplement and speed up your traditional business processes, "digital transformation" refers to the enablement of new ways of working through technological innovation.
As technology moves forward, it triggers a change in customer behaviour. Unless you are primed with an effective Business Process Management (BPM) strategy, you’ll find yourself scrambling to resolve customer-driven disruption. BPM is all about organising your business to provide an enhanced customer experience and take customer satisfaction to a new high.
In the traditional model for developing software applications, programmers and business leaders would first sit down and hash out the specs for the application and then move sequentially through the coding, testing and release phases of development. This is called the "waterfall" model of software development because it always moves predictably from one level to the next, like a river that flows over a large group of rocks.
Advances in fields such as computer vision, machine learning, and speech recognition and processing are enabling companies to take advantage of AI tools and technologies, thereby improving productivity and cutting costs. IT research and advisory firm Gartner predicts that, in the next three years, companies that use cognitive ergonomics and system design in new AI projects will see long-term success four times as quickly as their competitors.