Taking automation a step further, Hyper-automation is the application of Artificial intelligence (AI) and machine learning (ML) to increasingly automate processes. The amalgamation of automation technologies with intelligence not only augments human capabilities but also extends the scope of automation to more sophisticated and complex tasks.
AI is slowly gaining a foothold in the realm of corporate boardrooms given its predictive capabilities that can facilitate more transparent decision-making, mitigate pressures of succession planning, warn the board about threats of hostile takeovers, and such like.
The role and impact of artificial intelligence (AI) in businesses is growing exponentially. However, from the vantage point of companies’ boardroom, it might still be considered the least harnessed revolution which has the greatest impact on enterprises today.
Artificial intelligence (AI) is the technology of today, the story of 2010 and the excitement of tomorrow. The past decade will be reminisced as an era where machines began their journey on the path of intelligence – proficient in learning, executing, and ‘thinking’ like humans do.
The world is in the wake of experiencing the biggest Man-Machine alliance since the invention of Artificial Intelligence (AI). According to ‘The Future of Jobs 2018’ report from the World Economic Forum (WEF), machines and algorithms in the workplace will likely create 133 million new roles and jobs by 2022 with smart workforce adaptation.
Even before we got accustomed to the new normal, retailers were already adopting a blend of digital and physical engagement strategies for their enthusiastic customers. Retail innovations like omnichannel customer experience, order pick-up delivery services, and same-day delivery have grown exponentially.
All of us know that the mortgage business must cope with fluctuating volumes. Mortgage Lenders are often left working overtime when the volumes go high, scrambling to hire staff only to let them go when the volume goes down. Onboarding loans from multiple sellers can also prove to be time-consuming, leading to poor results and inaccuracy. All this means existing teams face immense pressure due to the extreme variability in demand.
The global economy is taking massive blows with organisations’ ability to function being affected considerably across various industries while it remains unclear as to when the business, as usual, will come into operation. From travel and tourism to retail, and logistics, companies are suffering the onslaught of a global pandemic.
Most factory workers, retail salespeople, and professional athletes can’t work from home, but knowledge workers can. However, their productivity is heavily dependent on the digital tools at their disposal. For individuals working on big projects with tight deadlines, even minor productivity decreases or errors can have serious consequences. If they don’t have access to business applications and collaboration platforms of the same caliber they use in the office, their efficiency will take a hit… and that’s what we’re seeing today.
Global commerce is severely affected by the disruption caused by the COVID-19 outbreak. This global health and socioeconomic crisis is spreading at an alarming rate, making the health safety of your workforce and other people a top priority. Business disruption is so widespread that it might affect your onsite workforce and outsourcing provider in similar ways. Many businesses have asked their employees to stay at home, but most of them aren’t equipped to allow their employees to work from home.
The COVID-19 outbreak has had a serious impact on global commerce. Many workers have been asked to stay home, most of whom aren’t fully equipped to work from home. Supply chains have been disrupted across most markets. Operational disruption and loss of business opportunities has shifted many organizations’ focus to cost control.