No doubt, 2023 is surely the take-off year for Generative AI. Indeed, Chat GPT made a record-breaking debut to begin its stride in all media headlines, C-level discussions, and board agenda.
However, as stated in a July 16, 2023 article in The Economist, most employers are not ready for AI. The article was appropriately named “your employer is probably not ready for artificial intelligence”. It also described how this unreadiness would affect wages as well as the wider economy.
People engage themselves in speculating on the repercussions of AI when they consider job, productivity and life quality. It is amazing for them. Nevertheless, if AI gets used by few firms from several nontechnology industries beyond Silicon Valley, its economic impact will be minimized. That would go beyond using a chatbot just occasionally.
How long will it be until most companies start reaping the benefits of utilizing all the capabilities offered by AI in the face of scepticism, concern, and unpreparedness?
There are some things you can wait for but maybe your competitors will never take that much time.
Other words of The Economist article say, ” Tech-embracing firms lead rivals”.
Recently, in a survey of 800 non- executive knowledge workers and 800 C-suite executives, consisting of 500 who are the CEOs, 77 % of executives reported that “AI disrupts their company” strategy. Thirty eight %
However, what is striking about these two statements is that in spite of all industry organizations looking for more investments on AI and even some readiness on how to utilize it without proper preparation for AI return.
What must organs do in order to realize the real worth of AI today? To truly leverage the transformative power of AI developments?
Automation.
Automation is the best path to deliver on whatever AI sparks.
We think of it as AI at work (and it’s not by accident that AI at Work is the theme of UiPath FORWARD VI + TechEd Day in Las Vegas this week).
Imagine tapping into the incredible power of AI right now, not years down the line, by embracing automation. This means using automation as a gateway to bring your AI visions to life. It’s about taking any idea or innovation you have and making it a reality with the help of AI, giving you a boosted workforce capacity and the adaptability to turn ambitious ideas into tangible outcomes.
Let’s look at Wesco as an example. They’ve fostered a culture of citizen development and utilized UiPath products like Automation Hub, positioning themselves strongly to swiftly implement AI-related ideas proposed by their workforce.
Contrary to The Economist’s statement in July 2023 that few companies outside Silicon Valley are prepared to make an impact with AI, Wesco stands out as an exception. Instead of enforcing AI implementation from the top down, Wesco empowers its employees to identify areas where AI can enhance their roles. Through their center of excellence (CoE), they engage both technical and non-technical staff, meeting them where they are to capitalize on their ideas.
The outcome? An impressive 60% of executable automation ideas originate from Wesco’s own citizen developers.
When realizing true value from AI through automation is possible across diverse tasks within various processes of the organization, your strength to do so transforms all these tasks. The result? Incredible cost savings.
Intuitively, a complicated firm like Intel appears to have a multitude of processes to be automated. Deploying AI and automation, for instance, at the tiresome process of classifying the international shipments. The outcomes were amazing – they categorized more than 56,000 items within four months having over 99% precision. They used a combination of machine learning aided by automation, which is what UiPath AI Center offered.
Unleash your workforce Using automation as the path to realize true value from AI has tremendous benefits for each and every one of your employees: high level of productivity, innovation, and leading them in the success missions.
Omega Healthcare is an example where you will notice work of AI. Incorporating AI and automation in Omega Healthcare was beneficial to its staff, stakeholders, and clients. The latter led to an increase of 100% in supercharged employee productivity, resulting in more wins for investors. The employees won by reducing 6,700 hours per month and eliminating wastage of time in writing customer correspondences. Process accuracy improved to 99.5 percent, and turnaround time dropped by 50 percent to give customers an edge as well.
It happened because AI and automated systems were used with UiPath’s document understanding abilities and the UiPath Action Center via the UiPath platform.
Indeed, the value of using automation coupled with artificial intelligence also goes beyond one’s enterprise. Every customer encounter is enhanced. Every interaction with get more speed, agility, and individual customization.
One of the highly used ways through which customer satisfaction can be measured is net promoters score, which means the higher this score is the more positively customers view a certain brand. Utilizing various types of tools across the UiPath Business Automation Platform such as chatbots and natural language processing capability helped flutter UK& I increase its NPS from ten to forty and prevented increase in prices. In addition, they enhanced their abilities to serve clients as each agent was capable of handling escalations, thus cutting their transfer rate at a whopping six percent.
Customers will be showcased throughout this session, discussing their use of automation and its transformative properties when leveraged with artificial intelligence.
UiPath brings together the flexibility and speed of enterprise automation, blending it seamlessly with machine learning, natural language processing, and cutting-edge Generative AI and Specialized AI features. This powerful combination paves the way for swift business transformation in the realm of this new AI era.
Let’s delve into the impressive communications mining capabilities offered by the UiPath Business Automation Platform. Originating from the prestigious University College of London (UCL) Centre for AI Research, our communications mining capabilities continue to lead the pack in machine learning, natural language processing, and AI.
For those of you attending FORWARD VI in person, make sure to join us in the Keynote Theater tomorrow at 9:40 am PDT. UiPath Chief Product Officer Graham Sheldon will guide us through the efforts of the UiPath product organization to ensure that the UiPath Platform is equipped with the capabilities and technological advancements needed to genuinely bring AI through automation across the entire enterprise, spanning every industry on the planet.
Graham will also unveil some exciting new AI-powered features. Trust me, you won’t want to miss out on his announcements!
If you’re eager for one-on-one discussions, head to Expertsville, open from 11:00 am PDT to 3:30 pm PDT on both days of FORWARD VI (October 10 and 11) in the Marquee Ballroom. Expertsville will also welcome you during the Unwind Happy Hour from 5:30 pm to 6:30 pm PDT on Wednesday.
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