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Creating a Competitive Advantage with Hyper-Automation

Creating a Competitive Advantage with Hyper Automation

Hyper-automation, the concept introduced by Gartner in its Top Strategic Technology Trends for 2021 is the combination of multiple advanced technologies, including artificial intelligence (AI) and machine learning (ML), to automate a wide range of business processes. The goal of hyper-automation is to automate as much of the business as possible, in order to improve efficiency, reduce costs, and increase speed and agility. By using hyper-automation, companies can gain a competitive advantage by being able to respond more quickly to changing market conditions and by being able to innovate faster than their competitors. To accomplish this, organisations must progress from basic automation to augmented AI and machine learning to a convergence of hyper-automation and deep learning capabilities.

Benefit with Hyper-Automation

  • Healing on Your Own

Device management must progress from reactively managing endpoints to autonomously managing devices. Discover endpoints continuously, diagnose issues, optimise device performance, and minimise configuration drift, then automate productivity preservation, system health, and security.

  • Enhanced Security

Anticipate security threats by continuously sensing, discovering, and detecting security issues, prioritising them predictively based on cognition, and remediating issues proactively before the end user detects an issue.

  • Better User Experience

Provide end users (employees, customers, and consumers) with an experience that is contextual, personalised, and anticipatory of their needs. Hyper-automation combines the capability to detect all devices owned by the user, understand their preferences, optimise performance, minimize configuration drift, and identify and resolve any security vulnerabilities.

Key Industry Applications

Banking

Banks and insurance companies deal with huge amounts of data, and their processes include repetitive and labour-intensive tasks. Not only do these include payments, loans, and back-office operations, but also marketing and sales, customer support, and regulatory compliance procedures. Most of these processes can be simplified and streamlined using hyper-automation, making them faster, smarter, and more accurate. It can monitor transactions and help prevent fraud and money laundering.

Healthcare

In the healthcare industry, hyper-automation can help in a variety of ways. Billing cycles can be automated, and billing information from various departments can be consolidated and communicated to the customer with minimal human intervention. It can aid in the management of patient data in order to provide more accurate treatment plans. Patient appointments, staff scheduling, procurement, and drug inventory management can all be streamlined with hyper-automation.

Retail

With a booming Retail and e-commerce market hyper-automation, particularly when combined with AI, can improve e-front-end commerce’s operations in a variety of ways, including targeted marketing such as ad placement, email marketing, loyalty recognition, and so on. It can support retailers and e-commerce websites in acquiring customers who are most likely to buy. Backend processes such as procurement, billing, inventory management, and shipping can benefit from hyper-automation. AI algorithms can sift through customer data to provide insights into increasing sales and making prices competitive. Hyper-automation can be used by offline retailers for processes such as order management, inventory, warehouse management, and payments.

As businesses emerge post-COVID, operating in an ultra-competitive landscape comes with a lot of unpredictable scenarios. To survive, businesses will seek cost-cutting measures wherever possible, and this is an excellent time to adopt the use of “Hyper-automation” as a means of reducing the unnecessary day-to-day burden of process-heavy tasks.

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