The pandemic has created a new normal in business with many challenges and many opportunities.
There is an opportunity to change how we run the business to make it more profitable. This can be achieved by a more significant commitment to customer and employee well-being. In short, organizations need to adopt innovative operational practices and technological advances such as intelligent automation to overcome these challenges and thrive. What role will intelligent automation play in the future of work?
The pandemic created a ripple effect that has led to many ongoing issues such as supply chain problems, increased hybrid workforce, burnout, and labor shortages. Companies have placed digital transformation and technological innovation at the top of their business continuity plans to keep up with the challenges posed by the endemic.
It is predicted that the market will experience a surge in intelligent automation adoption in 2022. This is expected to improve operations in almost every industry by its capability to streamline and accelerate processes, increase enterprise visibility, resilience, security, and enhance employee and customer experiences. IA, which combines Robotic Process Automation with artificial intelligence, allows supply chains to adapt to rapidly changing environments dynamically.
Intelligent automation adoption in healthcare has increased significantly since the outbreak of the pandemic. This is an excellent example of how IA can improve care and support. Intelligent automation can be made more efficient by incorporating cloud capabilities.
A study shows that 57% of companies are expected to invest in RPA over the next 12 months, with the number of software bots increasing by a third. The cloud is becoming the preferred platform for RPA deployment, 67% more customers would choose cloud to replace on-prem options.
Although it is important to note, the future of this trend is uncertain. This pandemic has pushed more people to online shopping, online socializing, and WFH, avoiding the natural world and human contact. In 2020, more consumers shopped online than ever before, and 69% of employees worked remotely. Intelligent automation played a crucial role in streamlining and accelerating the work process.
The virtual world has made it easier to connect with others. It has more real-world experiences. What will the introduction to the Metaverse do for this need?
The Metaverse will be an online virtual universe with augmented reality and virtual reality. It also features 3D holographic avatars, video, and other communication methods. You can coexist in a hyper-realistic alternative world. Imagine attending a conference, going on a virtual trip, or going to a concert. Your avatar will be there, and you will feel as if you're there." Intelligent automation, with its artificial intelligence, has the potential to handle a wide range of processing tasks in the Metaverse, including natural language processing (NLP).
Happy employees are productive employees who are committed to the company. The pandemic has severely affected this happiness making it more difficult for workers to manage their personal and professional lives at the home office, increasing their stress levels. Corporate leaders must pay more attention to employee experiences and take care of their employees' well-being.
Harvard Business Review stated that 94% of respondents to a 2020 survey on human resources reported that managers with high empathy levels have a more significant impact on employee performance than managers with low empathy levels. Intelligent automation automates repetitive administrative tasks so managers can be more empathic and focus on their employees and allows executives to quickly gather and analyze internal and external sources to assess fairness within a company or market.
Imagine an employee doing repetitive, monotonous tasks every day. This is not a scenario that will bring you happiness. There are many ways workers can be freed from repetitive, mundane tasks and focus on more rewarding work. This trend will not stop.
As a result of technological advances, new occupations, and hiring-from-within programs, workers are given new skills. According to the World Economic Forum, new careers will grow by 27%, with potential 133,000,000 jobs due to the shift in labor division "between humans and machines."
IA is making work more human and can be used to support and retain employees. It automates tedious, repetitive tasks that were previously done manually. Staff and management can now spend more time on more rewarding, high-value projects. They may be able to spend more time with their families and friends too, increasing happiness.
Customer service is one area that is experiencing dramatic changes in most companies. Automating the contact center, typically the first line of customer contact, is an ascending trend. Excellent customer service can lead to business growth and even survival. Serve well, or you will disappear.
Customer experience is directly related to the agent or employee experience. Companies with an excellent customer experience are more likely to have engaged employees than those with a poor record.
Intelligent automation can automate tasks such as updating customer profiles, routing calls, creating refunds, and calling customer information. It can speed up the agent experience, simplify it and allow agents to spend more time with customers. It is possible to reduce the time it takes to complete a task from minutes to seconds, please both customers and agents.
We still have to resolve some key issues and coordinate them to address global challenges by 2022. We have an opportunity to reset our commitment to customers and employees and how we use innovative technology and practices. 2022 is the year of change, to live and work better.