My premise was to find out what people smarter than I thought about what the future holds for our intelligence: human intelligence. My interest was driven by information that I read from the World Economic Forum and whitepapers from Accenture and others who prognosticate on how automation will affect our future workforce.
Welcome to part two of our six-part series that will take readers on a journey through the latest concepts in multichannel document capture and intelligent OCR, with an emphasis on how AI has transformed what’s possible in making your documents and data work for you – and not against you.
According to recent research from HfS, “Without the ability to capture semi-structured and unstructured input data (faxes, PDF files, etc.), the promise of end-to-end automation remains unfulfilled, and the ability to scale RPA diminishes significantly.”
Everyone knows automation is the future. What’s less well known is precisely how it works, or how to take full advantage of the untapped business potential it offers, especially when it comes to back office tasks.
Clearly, there’s a lot of room for improvement in invoice processing. In a survey conducted by PayStream Advisors, 63% of respondents said their top invoice management pain point is “manual data entry and inefficient processes.”
At its core, RPA solves problems associated with data-centric manual tasks and remains ideal as a tool that interacts with websites, business and desktop applications, databases and people to execute repetitive work. Simply put, RPA is the “hand work” of processing electronic data. It empowers human employees to shift from being data gatherers to data users; they can focus on more cognitive and strategic business initiatives that better serve customers—and increase their job satisfaction.