Glimpses from RPA, AI & Cognitive Summit 2019

Key Concerns Addressed by The Industry Leaders

InfoVision concluded the first RPA, AI & Cognitive Summit in Dallas for the retail and finance industry. The event brought together industry leaders from the technology and business side of these industries and got them to share their own experiences and expectations from RPA as a technology. There were panel discussions held on concepts like RPA plus and their relevance for retail and BFSI.

The event also provided a platform to business leaders to share their concerns or challenges related to RPA or cognitive AI. These concerns were promptly addressed by the RPA experts.
Here is a gist of what business leaders viewed as a challenge when it came to RPA.

Putting RPA in Mainstream Frontend

This was one of the most unique point of view that was discussed at the event. While everybody talks about how RPA can reduce the cost of operations, very few business leaders are willing to use RPA in mainstream. In fact, many organizations are not leveraging the full potential of RPA by implementing it only for backend processes.

One of the concerns with respect to this was putting RPA between customers and employees. In retail and BFSI, customer relationships are built on trust. It’s the human touch and empathy that make these relationships stronger. Putting automated bots here would defy the very foundation of customer relationships. It would make the relationship “inhuman”.

This is where RPA experts chimed in stating that what RPA would do is make it convenient for customers to interact with the brand. RPA does not aim to replace the human from customer engagement. On the contrary it aims to remove the robotic approach of humans to customer engagement.

Governance Approach

Some BFSI leaders insisted that keeping up with the pace of automation is hard. So, when this fast-paced automation is implemented in the BFSI space, governing it becomes difficult. The digital risk of such solutions is too high for an industry that is extremely sensitive about data security.

To this, the RPA experts shared their take on how governance can be set up for RPA solutions in the finance vertical. They shared examples of how data can be protected through end-to-end automated processes and how a 360-degree governance can be achieved.

A quick demo of RPA technology was also arranged for the leaders to understand the real implications and value of cognitive AI.

Integration with Existing IT

Some leaders insisted that they have already made some investments in IT and are yet to realize the value from these. They did not fancy the idea of a new technology overhauling their existing IT or making major changes to the existing structure.

The RPA leaders addressed this concern by introducing a scenario that would enable them to use RPA without making any major changes to IT. The idea was to retain the existing structure and investments and use new technology that would enhance the overall value of IT investments.

They shared their experience on how RPA solutions can be implemented with 0-change in IT. These solutions would be scalable, reliable, simple, enterprise class, and intelligent – Fit for brands with global operational scales. They are also curated to integrate seamlessly with the existing solutions in place, giving you space to create an integrated and intelligent enterprise.

Gaps at Talent Level

Many business leaders mentioned that they were quite impressed with RPA and cognitive AI and would be willing to invest in them. However, they were not sure if their workforce would be able to gel well with these solutions. They believed they had major gaps at talent level that could doom the entire investment.

This is where InfoVision was different in comparison with other vendors in the market. While other companies primarily focus on getting the solution in place, InfoVision works on getting the entire ecosystem aligned to the new technology. This includes the human workforce as well.

In addition to technology consultancy, we work with retail and BFSI leaders to create a change management strategy to handle employee pushback to digital. We also help them design training programs that would upgrade the skill sets of their existing people. Additionally, we help them prepare for the new skillsets that would be needed at an organizational level.

Instead of acting as a technology provider, we don the hat of a digital transformation partner that steps into your shoes to understand your challenges and address them.

To know more about RPA Technology and Cognitive AI, contact us and we would be happy to engage with you.