Automation Anywhere is increasing global demand for Artificial Intelligence

disadvantages of robo advisors

Their recent major advances in the IQ Bot 6.5™ will change the way people work

Automation Anywhere®, the global leader in Robotic Process Automation (RPA), has announced major advances to IQ Bot 6.5™,  its artificial intelligence (AI) solution.

The IQ Bot can now auto-detect, read and process a variety of complex, low-resolution documents and emails in 190 languages as well as process images with the Automation Anywhere Mobile app.

These new advancements, as well as the IQ Bot’s ability to learn from humans, will alter the way workforces operate and there is likely to be an increase in the global market demand for AI technologies in the near future.

Users can access IQ Bot from mobile devices, processing images and having them emailed directly to them, all whilst on the go and from any location. With the global workforce becoming increasingly mobile – an expected 1.87 billion mobile workers by 2022 – this AI solution is going to be useful for all workers ranging from field workers, home appraisers, insurance adjuster and delivery workers.

At the moment a massive 80 to 90 per cent of organisations still manually extract data from documents and emails. The IQ bot is designed to change this with the new advancements made by Automation Anywhere.

The AI capacities of IQ Bot are designed to free up business users around the world from the mundane task of entering data into enterprise applications. The automation of such complex, repetitive tasks liberates people to focus on what humans do best – innovate, collaborate and use their talent to solve business challenges.

The implementation of AI also has the possibility to reduce workforce costs. A research study found that this type of automation can cut down the cost of processing documents, such as invoices, insurance claims and loan applications, by as much as 84 per cent.3

“The ability to implement a bot quickly and cost-effectively to automate data capture can dramatically impact a company’s bottom line,” said Tim Ebbeck, Senior Vice President and Managing Director, Automation Anywhere Australia and New Zealand.

“As organisations eliminate legacy document processing solutions and bots become smarter using AI, the potential market for tasks that can be automated expands significantly. In many ways, RPA companies are at the forefront of this.”

Advances in AI technologies are rapidly expanding the market for data capture; a new study by Harvey Spencer Associates (HSA)2  indicates that there is a $US20 billion untapped opportunity.2

This latest release of IQ Bot has:

  • Unique ability to process low-quality documents and detect handwriting
  • Ability to process documents in 190 languages with localised interface for English, French, German, Japanese, Korean, Spanish, Mandarin and Simplified Chinese
  • Capability to process document images via the new mobile app
  • Advanced AI algorithms for smarter document classification and separation
  • Enhanced integrations to unlock capabilities, such as predictive modelling and chat bots sourced from the world’s largest ecosystem of AI partners

“Today, we are providing universal access to automation, with new language and mobility features in IQ Bot eliminating the friction that limits productivity and helps workers do their jobs better” said Ebbeck.

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