Cognitive automation is a hot topic in the enterprise. Robotic Process Automation (RPA) capabilities for automating repetitive, rule-based business tasks are going mainstream, and the advantages of Artificial Intelligence (AI) for achieving higher levels of accuracy and extending business automation to new areas and tasks are becoming well known.
Today, as RPA powered by AI reveals even greater insight in automating business processes, text analytics is leading the way in driving RPA and AI convergence.
Market progress of RPA and text analytics scenarios
Implementing RPA solutions is no longer a nice to have. It is a must. Forrester’s report, Look to Four Use Case Categories to Push RPA and AI Convergence, outlines four key use cases where Artificial Intelligence is driving greater value for Robotic Process Automation:
- Analytics that solves nagging platform issues;
- Chatbots that boss around RPA bots;
- IoT events that trigger digital workers;
- and, text analytics that increases the value of RPA right now.
Text mining with RPA improves speed and accuracy
Expert System recently deployed its Cogito text analytics application at a large European insurance company. The process reduced the time to review an insurance claim from one hour to seconds, saving some 40,000 hours of manual work annually and improving accuracy.
Whether for Claims, Underwriting Expenses or Leakage, AI can be instrumental in making Insurance processes more efficient and cost effective. RPA based on AI offers insurers a concrete response to their requirements for improving both operations and economics. Text analytics applied to the industry’s most resource-intensive processes is already delivering unprecedent productivity gains and insight.
What are you waiting for?
Learn more about the convergence of RPA and AI – Download the Expert System Whitepaper Three Unique Ways to Improve the Economics of Insurance with Artificial Intelligence