Introduction
The the demand for smarter, more efficient processes is skyrocketing. Enter Intelligent Process Automation (IPA)—a game-changing technology that combines automation with artificial intelligence (AI) to elevate business operations. Let’s explore the definition of IPA, why businesses should embrace it, real-world use cases, challenges in adoption and what the future holds for this transformative technology.
What is IPA?
McKinsey defines IPA as “a collection of business-process improvements and modern technologies that combines fundamental process redesign with robotic process automation (RPA), artificial intelligence (AI), machine learning (ML) and cognitive technologies like optical character recognition (OCR) and natural language processing (NLP).” It helps organizations redesign processes and workflows in alignment with customer journeys for seamless experiences, digitize data for personalization and insights, and automate mundane tasks to achieve groundbreaking increases in productivity.
Why should businesses consider IPA?
In the world of operations, IPA is a Swiss Army knife. CEOs love its power to transform customer and employee experiences; CFOs appreciate its potential to grow efficiency exponentially; line-of-business leaders like the clear results it delivers; chief information officers embrace it as a digital accelerator and a way to demonstrate business outcomes.
What are examples of intelligent automation benefits?
The average employee is productive for just 2 hours and 53 minutes daily (31% of the average 8-hour workday)
83% of employees using AI-powered automation believe that it can help reduce burnout and enhance job satisfaction.
Industry Trends and Outlook
Figure 1 – IPA Market Size
Figure 2 – IPA Market Share
Conclusion
Intelligent Process Automation is no longer a luxury—it’s a necessity for businesses aiming to thrive in the digital age. By integrating IPA into their operations, organizations can unlock new levels of efficiency, agility, and innovation. As global trends continue to highlight the importance of automation, now is the time for businesses to embrace IPA and future-proof their operations.
Are you ready to take the leap into Intelligent Process Automation? Let’s discuss how IPA can transform your business!
