By Greg Council, VP of Marketing & Product Management, Parascript
Robotic process automation, new access to dark data, and transactional processing moving to the cloud are three technology trends that will transform the business process outsourcing (BPO) industry in 2016. This past year the industry experienced significant change driven by global competition, new techniques for extracting value from data, and fast-moving technology. Tomorrow’s BPOs will be at the forefront and leading the industry in these 2016 trends.
Robotic Process Automation
Robotic process automation (RPA) allows software “robots” to automate mundane, labor-intensive activities carried out by humans such as repetitive, manual data entry. RPA reduces costs and gives back time to employees for more important tasks. Artificial intelligence applied to advanced document-based classification and data extraction will make a few of the long-promised RPA a reality.
To date, commercial technologies generally have offered reliable, but very limited and complex techniques based upon explicit rules for automatically extracting data from documents. With cloud-based computing and access to large data sets via web APIs, the ability to train an AI system to extract key data from document-based information will advance knowledge management and process automation. RPA becomes critical in keeping in step with overall technology shifts. While scanned paper and emailed documents remains the mainstay in the initial document workflow, the shift begins toward overall electronic document volume being processed in native forms in a single uniform workflow and more scanned documents captured by mobile devices than ever before. This will only accelerate exponentially in the years following 2016.
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