Automation and AI in a changing business landscape

New Delhi |

Posted: May 26, 2020 6:43:55 pm

Based on the evidence available so far, it seems clear that the world will have to learn to quickly and significantly adapt to a “new normal” of work to deal with the current (and potential future) phases of Covid-19. (Photo from iStock / Getty Images Plus)By Ravi Mehta, Sushant Kumaraswamy, Sudhi. HThe current Covid-19 pandemic appears to have dispelled some hardened organizational “myths” (for example, it is not possible to work from home on a large scale) and forced companies to analyze how they work and interact with key stakeholders. Businesses, and subsequently employees, were forced to innovate on the fly (for example, quickly shipping monitors and large-screen printers to employees’ homes before the shutdown closed markets). Perhaps, it would not be an exaggeration to say that even the best Business Continuity Plans (BCP) for most companies were stretched to the limit and yet struggled to cope with the rapid and unpredictable evolution of the pandemic. . Based on the evidence available so far, it seems clear that the world will have to learn to quickly and significantly adapt to a “new normal” of work to deal with the current (and potential future) phases of Covid-19. Automation and artificial intelligence (AI) can play a huge role in defining this “new normal” of work in the Covid-19 (and post-Covid-19) world. More specifically, automation and artificial intelligence can help companies instill three key attributes of agility / flexibility, responsiveness and frugality, allowing companies to better adapt to rapidly changing situations in the times of Covid-19.Agility / flexibility: Most organizations in the pre-Covid-19 world were “human-intensive,” with the majority of work (especially in non-manufacturing sectors) being performed by humans. A fundamental challenge with “human-intensive” organizations is the rapid scalability based on the demands presented by the dynamic Covid-19 environment. For example, when most governments announced policies related to mortgage deferral to help citizens better cope with economic challenges related to Covid-19, several banks and financial institutions had to seek additional human resources to process. the sudden increase in these (and probably one-time, time-sensitive transactions). This is where automation and artificial intelligence can significantly help organizations. Both robotic process automation (RPA) and AI robots are typically hosted on servers and therefore do not need to change work locations as required for humans. They can also be replicated (scaled up or down) almost on demand. Evidence in the market suggests that banks that had employed automation to cope with these fluctuations in demand at work generally fared much better than those that relied primarily on humans working remotely to handle the load. additional work.Twitter Says Employees Can Work From Home ForeverSensitivity: The Covid-19 induced lockdowns bypassed many well-defined and widely followed processes across companies. For example, in several companies, IT and HR support. H H. It was generally located in defined physical spaces or in call centers. However, as most employees began working remotely, it was difficult for them to get answers on important IT and HR-related questions. Automation and artificial intelligence can help manage these interactions efficiently and also improve the stakeholder experience. For example, certain companies leveraged technologies such as chatbots to respond to employee inquiries quickly, effectively, and remotely. This helped reduce employee anxiety and improve productivity. The same interaction technology can be leveraged to enhance the experience of interacting with other important stakeholders, such as customers and suppliers. Another example is that of a global automotive player, who recently launched its online sales, 360-degree digital services, and a contactless service experience in the first week of April. They leveraged robotics, AI and ML technologies to provide continuity to their operations and minimize disruption for their customers.

Frugality: Covid-19 has significantly impacted the top line of most companies. Therefore, it is crucial that companies focus on their results to actively manage profitability. Automation and artificial intelligence can help companies manage and optimize costs effectively. For example, technologies such as RPA, natural language processing (NLP), and natural language generation (NLG) can automate 25 to 50 percent of processes. This will help companies achieve better results at lower costs and will also free up human time for higher-value work (eg, better serve high-value customers, respond faster to regulatory requirements or government directives).

Cyborg Chess has shown that when human and machine capabilities come together, they produce better results than “human only” and “machine only” capabilities. As companies around the world adapt to new ways of working, automation and artificial intelligence can create a HumBot (human + robot) workforce to effectively combine the human capacity for higher thinking with the ability to fast execution of robots. Companies that successfully combine human and machine capabilities will not only survive challenging conditions, but will likely come out with newer, better, and stronger capabilities. These enhanced capabilities will allow organizations to “rewrite the rules of the game” in their industries and occupy a place of sustainable importance in the renewed competitive landscape of the current and post-Covid-19 world. The authors are Ravi Mehta, partner; Sushant Kumaraswamy, Director and Sudhi. H, Associate Director, Deloitte IndiaIndian El TecNoticias is now on Telegram. Click here to join our channel (@indianexpress) and stay up to date with the latest headlines

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