Information and Communication Technology INTELLIGENCE PROCESS AUTOMATION MARKET IS PROJECTED TO GROW UP TO 13.4% CAGR DURING THE FO...


INTELLIGENCE PROCESS AUTOMATION MARKET IS PROJECTED TO GROW UP TO 13.4% CAGR DURING THE FORECASTING PERIOD 2021-2027.

Artificial intelligence and machine learning robotics are integrated in intelligent process automation. The key aim of integrating this technology into systems is to allow companies to benefit from the automated functionality and processes that it offers. As a result, intelligent process automation is a form of automation that is used to streamline workflow and build smart business processes. Along with achieving operational productivity, technology also assists in enhancing employee performance and effectively reacting to customers. As a result of this integration of technology, end users benefit from automation capabilities that greatly improve market value and competitive advantages. Digital process automation (DPA), robotic process automation (RPA), and artificial intelligence are the three core technologies that make up intelligent process automation (AI). Intelligent process automation has many advantages, including good governance and risk reduction, integration of work between machines, people, and systems, end-to-end visibility of processes and the customer journey, and agility and pace of process transition, all of which contribute to its market acceptance.

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Key Driving Factors: In the banking industry, there has been a rise in the use of intelligent process automation.

Intelligent process automation is a state in which companies need to deliver data to customers but manual processes, such as managing insurance claims or automating customer requests, take up a lot of time. As a result, introducing intelligent process automation reduced time and increased business productivity. For example, Bancolombia, one of Latin America's largest banking companies, is using bizagi as its intelligent process automation platform to boost customer service both digitally and in-branch, enabling robots and humans to interact more effectively.

This report offers the major market player’s profiles, such as IBM, Cognizant, Atos, Infosys, HCL Technologies, Capgemini, Xerox Corporation, Pegasystems, Wipro, Accenture, Sutherland Global Services, Symphony Ventures, EXL Service, Thoughtonomy, Tata Consultancy Services, CGI Group, Avanade, Virtual Operations, KPMG, Tech Mahindra, Blue Prism and Syntel.

Opportunities:  In the future, intelligent process automation can be used more in telecommunications:

Messages from cell phone users are often repetitive, requesting small changes to their schedule. Changes in address, removing a mark from their provision plan, and providing their phone bill are all common requests. These are all minor changes that add up to several hours. Natural language processors (NLPs) can search and monitor the determined of an inward user message in intelligent process automation. It provides an automated reply, reminds the customer of their current plan on a regular basis, or routes the message to the appropriate department based on the message content. As a result, telecom operators are gradually embracing intelligent process automation platforms.

By Verticals:

Multiple systems in the BFSI industry are connected together by interfaces to allow the flow of transaction-related data. Automation solutions manage and track these interfaces to ensure smooth transaction execution and remove workflow bottlenecks. Through collating data from different systems and performing validation checks to prepare information for thorough review, these solutions increase the consistency and reliability of various processes and assist in regulatory and enforcement reporting. Most banks are rapidly implementing intelligent automation technologies in order to boost efficiency, reduce costs, and improve customer service. These solutions are also used to boost process performance and give workers more time to work on high-value projects.

The Intelligent Process Automation market report has been categorized as below

By Component

  • Solutions
  • Services

By Technology

  • Natural Language Processing
  • Machine & Deep Learning
  • Neural Networks
  • Virtual Agents
  • Mini Bots & RPA
  • Computer Vision
  • Others

By Application

  • IT Operations
  • Business Process Automation
  • Application Management
  • Content Management
  • Security
  • Others

By Vertical

  • BFSI
  • Telecom & IT
  • Transport & Logistics
  • Media & Entertainment
  • Retail & Ecommerce
  • Manufacturing
  • Healthcare & Life Sciences
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of World

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Published Date : March-2021