Business automation refers to the use of technology applications to perform repetitive tasks. This frees up employees for more valuable work. Such technologies include Robotic Process Automation, AI-powered automation, and several other Business processes.
Types of Automation:
Basic Automation
Basic automation in short simplifies tasks. Basic automation tools digitize repetitive tasks with little or no programming -- helping to eliminate errors and speed up transactional processing.
Advanced Automation Tools
Advanced automation is the integration of multiple systems within an organization. It brings together people and machines. It facilitates knowledge management and decision support in specialized work.
Intelligent automation
Intelligent automation is powered by tested & proven AI. It allows machines to "learn" or even "unlearn" from past situations and make decisions based on those experiences. Virtual assistants that are powered by AI, such as in customer service, can help minimize costs and enable smarter communication between human alike tools and customers. The end result will be an AWESOME CUSTOMER EXPERIENCE.
Now that we know different types of Automation Technology, let’s understand -
How Automation can Impact a Business Growth to Grow Efficiently and Quickly
Technology and automation are proving to be of core importance in impacting the way we live, or a business performs. Technology is everywhere, from mobile phones to your car, and everything in between. Artificial Intelligence, machine learning, and automation are all terms that are used in the business world. Today's businesses understand the importance of technology and automation. How can technology impact business growth? And is it worth it to do so? Continue reading to learn more.
Efficient Timekeeping Equals to More Time
Integrating technology greatly reduces the time it takes to complete a task when done using primitive methods. The machines can accomplish far more tasks in a shorter time period, and they don't get tired (literally). Computing power is able to do complex, mundane, and large-scale work in a matter of minutes. For example, a pyramid that was constructed by 4000 workers over 20 years can now be done in five years using the most recent technology.
Increased Productivity
Technology allows for more work to be done in a shorter time span, which increases productivity. That's the whole idea behind technological advancement, isn't it? Technology can nowadays help us to do more complex jobs without breaking a sweat. This allows us to make better use of our skills (in combination with the latest AI tools) which in turn will lead to High-Quality End Results, Every time.
Detailed View (Insights)
Technology can also provide valuable insights for a business. To understand this better - let us take a small example of a Pivot table in an Excel sheet which can derive necessary results for a small business. Now, if AI is used in combination with the Pivot table the result can be surprising appalling, and in a good way. Organizations can transform data and numbers into valuable and important information that can be used to make strategic and calculated business decisions. Big Data Analytics, advancement in technology can be used to improve decision-making thus ensuring positive business growth for almost all kinds of businesses.
Reduced Labour costs
The greatest benefit of automation for business is the reduction in labor costs. Although some automation tools may be costly at first, they will gradually pay for themselves over time. Smart technology can help you - for example to hire more employees. However, it is much easier to deal with occasional software issues than re-hiring of employees on a regular basis. You can upgrade your business to include more technology that will serve the business better in the long run.
Increase in Revenue and Profit Margin
Almost all the business models are created keeping the revenue in mind. As mentioned above Implementing AI with digital technologies significantly increases revenue and Productivity. A recent report from Google and KPMG shows that digital technologies, including websites, e-commerce, and social media, provide businesses with a greater marketing reach. Digitally connected companies are almost twice as likely to make better revenue than those relying on traditional methods.
Now, let’s break this up – if any system can increase efficiency in less time, save productivity & money hence grow output and revenue, wouldn’t you (as a Business Owner) embrace it or implement it for your business. And it’s no math that such effective systems can only GROW A BUSINESS & TAKE IT IN THE RIGHT DIRECTION. That is How Impactful Automation (AI Technologies) can – Help a Business Grow Fast in terms of Profit|Better Results|Superior Customer Experience.
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