Industry 4.0: Are you revolutionizing your business?

With the advent of technological advancement, to create artificially intelligent products was never so easy. Machines can be designed to train by themselves, and are now capable to make critical low-level decisions without any sort of human interventions. Over the course of time and with maturity of the learning algorithm, its consistency to make better decisions shall improve. With such technological advances, the manufacturing sector shall realise the benefits of this advancement at the earliest.

The Big Picture

With the increasing consumer awareness and access to information at the fingertips. Manufacturing companies are now unable to suffice the demand for products/systems that are intelligent and that act towards profitability to its customers. The rapidly increasing need for companies to predict and plan operations in advance has persuaded organisations to record, analyze and evaluate data to facilitate better decision-making. Making the right and efficient use of data to make timely and wise decisions shall be a skill that organizations will compete in.

Business Process Management (BPM)

Business process management (BPM) is a discipline in operations management in which people or systems use various methods to discover, model, analyze, measure, improve, optimize, and automate business processes.. Any combination of methods used to manage a company's business processes is BPM. Processes can be structured and repeatable or unstructured and variable. With onset of technological advances, technology has leveraged and bridged the gap in identifying the right opportunities to improve the business processes.

Robotic Process Automation 2.0 (RPA 2.0)

We are currently at the very beginning of this new revolution,in which we transfer and limit tedious, boring tasks to RPA 2.0 and allow people to focus on truly creative work. Repetitive jobs and occupations shall be greatly impacted and shall be replaced by intelligent robots. Business activities such as preparing slides, drafting, auditing, data entry, contract design etc. This will be the new industrial revolution, more in the digital aspects. These are a few of the services that AI can offer to us in the future

Robots will eventually sense, reason and act based on the incoming data with emergence of AI. Robots need not follow the rules immediately, rather they shall evaluate, optimize and improvise process on the spot. Such artificially intelligent RPA 2.0 robots can quickly thrive in all business verticals (usually the new functions and verticals defined below), where one operates on very specific definitions.

Emergence of new business functions with RPA 2.0

Emergence of new verticals and functions in businesses shall thrive in coming years, obviously subjected to company strategies. More present day functions shall be replaced functions of cross functional features. More functions shall evolve over the course of time with specific needs and demands, subjected to specifics of the companies. BPM in assistance with RPA 2.0, shall open the opportunity for improvements in different functions, as mentioned below.

• System Black-box
• Continuous monitoring and optimization
• Progressive tracking
• Data reliant decision making
• Predictive analyses
• Smart Logistics
• Innovation accessibility
• Product modularity
• Product Lifecycle
• Customer value differentiation

Question to Ponder

Has your business already started using RPA 2.0 for process automation and reduce human tasks that are repetitive and non productive?

Are you still using human capital for work that can be automated?

IF YES.

Start using RPA 2.0 for such tasks. And use your human capital for tasks that add value to your company.