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Hyperautomation and Its Role All Across  the Industries
Hyperautomation and Its Role All Across the Industries

November 8, 2022

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If you have followed the latest trends in the exponential technological space and are an automation solutions provider, you might have heard of the term “Hyperautomation.” Even Gartner, in its research report, placed “Hyperautomation as one of the top strategic technology trends for 2022.” 

This is the reason various digital innovation leaders and CIOs are turning towards this approach to go beyond RPA and take their business to the hyperdrive. But what is the Hyperautomation approach, and how does it help enterprises accomplish their automation goals?

Let’s find out the answer in this blog. 

What is Hyperautomation, and How is it Different From Automation?

Basically, hyperautomaion is an approach that leverages the combination of technologies like RPA, AI technologies like Machine Learning(ML), NLP, and others to automate the complex processes that require decision-making. The integration of these technologies helps enterprises offer end-to-end process automation to add greater value and impact to their operations. 

That’s where hyperautomation differs from automation. In automation, a chatbot or robot performs processes aligned with a predefined workflow, but hyperautomation performs all the processes with decision intelligence, just like the human brain. 

Hyperautomation Across Industries

The integration of RPA, AI, and all other technologies together eliminates all the shortcomings that come with pre-defined automation workflow. As the problems get easier, enterprises can easily create end-to-end automation solutions. But where can you use the hyperautomation approach? Let’s learn more about hyperautomation use cases all across the industry here-

1. Banking Services

Banking and financial services deal with a large volume of data and have numerous business processes that are highly reliant on the paper trail method. Keeping track of data shared and processing them for business operations require a constant check and a lot of manual resources to manage it effectively. Some of the ideal candidates in banking processes are regulatory compliance, payment processing, KYC process, enterprise support and lending operations. For example, in the eKYC process, an Intelligent Document Processing solution with OCR can easily extract the information out of the KYC documents and feed it into a centralized data system without manual intervention. 

Also, Intelligent automation solutions powered by AI algorithms can effectively monitor transactions and monitor fraudulent activities and minimize anti-money laundering issues. The hyperautomation approach not only gives the employee ample time to focus on decision-making tasks but also enables them to offer instant resolution and customer service. 

2. Healthcare

Healthcare is another data-intensive industry that makes it a perfect candidate for hyperautomation. Starting from patient appointment scheduling to healthcare revenue management, healthcare professionals deal with multiple challenges that require an efficient solution. However, healthcare leaders have been adopting automation to get away from repetitive and manual processes.

 But, predefined workflow automation is not enough in the healthcare process. To add intelligence to healthcare automation, hyperautomation is the one approach that needs to be in focus. Leveraging hyperautomation in healthcare processes like patient appointment scheduling, admission and discharge, insurance eligibility verification, claims settlement, and others can be accelerated with human-bit interaction. 

For example- Automation can enable smart billing by collating all the bill details of each department and saving them in the centralized database for multiple purposes. This reduces the time spent on bill generation and payment initiation. 

3. Insurance

The insurance industry has a large workforce engaged in routine, repetitive, and time-consuming activities. Several processes like claims processing, policy administration, and underwriting require a lot of manual efforts for execution. For instance, claims processing is one of the most time-consuming processes in the insurance industry. There is a large number of stakeholders supplying information in the insurance industry manually. This information further needs to be verified and authenticated against user- credentials while processing insurance claims. Processes like this can be automated for compiling information all across the enterprises and validating it autonomously without manual efforts. 

To add intelligence into it, Machine Learning(ML) technology can be a great help. ML capability can easily gain meaningful insights from the data accessed and calculate the risk probability and policy premium for specific customer segments. 

4. Manufacturing

Since technological evolution, every industry is on the verge of digital transformation. Hence, the manufacturing industry is no exception. Manufacturing leaders are constantly making efforts to meet the supply chain demand and smooth operation. Multiple manufacturing processes like invoice processing, customer support, and data processing can be automated using predefined workflow. 

But is it enough? The answer is “No.” The manufacturing process can be smarter with a hyperautomation approach. Using the hyperautomation approach, the AI algorithm can keep track of manufacturing products in real time and offer insights to manufacturers. This helps in tracking the supply chain demand and saves time from manual reporting. In addition, the hyperautomation approach hardly leaves any chance of error for manufacturing leaders and processes operations effortlessly. 

Conclusion

Hyperautomation increases the scope of automation one step further with its capabilities., This approach not only reduces the reliance on manual effort for repetitive processes but also focuses on adding intelligence to the process. 

This way, it gets much easier for enterprises to automate the complex process smoothly. Eventually, hyperautomation is an opportunity to scale the automation effort all across the organization and create smart, intelligent solutions. 

AutomationEdge is a leading automation platform that is helping customers all around the world by adding intelligence with a hyperautomation approach. With advanced technologies and AI capabilities, AutomationEdge's hyperautomation approach takes your business to go beyond RPA.

 

 

 


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AutomationEdge is the leading solution provider for Hyperautomation, Robotic Process Automation, and IT Automation with intelligent RPA that provides enterprise automation through Artificial Intelligence, Machine learning, Chatbot applications, ETL ready APIs, and IT automation. AutomationEdge helps organizations automate their rule-based tasks. It is a unified platform that helps in automated resolution of IT tickets like password reset, user creation and also automates various business processes in the front, middle and back office.

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