From hype to help: AI adds value to Intelligent Automation

[Brian_Hesse]

Intelligent Automation is critical to any organization's growth in today's rapidly evolving world of business. To achieve their goals, many companies are turning to emerging technology for help, most notably artificial intelligence (AI) and machine learning.

There’s been a lot of hype surrounding both in the past, however, recent advances in processing technology help leading businesses find exciting ways to bring their value to process automation. Here are a few examples:

• Error Determination. All processes have potential for errors. Historically, businesses have had few options on how to improve service levels: training, checking every item in a process multiple times, or performing random sampling of items flowing through a process. Now, however, we have an improved way to answer the fundamental question: “Can we only check work that has errors?” With AI and machine learning, we can create analytical models based off key elements of a process that can determine the probability an item has an error, then route it through a quality process without impacting other work. Solutions like Quality Check AI can improve your quality day-one, reducing costs and improving customer satisfaction.
• Saving Costs. Straight-through processing is the goal of most organizations. Let the process move the item along, update systems, then involve a human for processing only if there is information presented requiring human decisioning. Often times, it’s the beginning of a process that can be most challenging. For example, in highly-regulated fields like financial services and healthcare, where regulation hasn’t advanced to allow end-to-end digital processing, there is still a great amount of incoming paper and yes, faxes. Most ICR and OCR solutions haven’t made any real progress over the years. Traditionally, we got 90 percent character recognition and 40 to 60 percent word recognition, if we were lucky. Enter new AI and machine learning models. Add large amounts of data used to “train” these models, and we can now recognize words and sentences that may be difficult even for human workers to read. SS&C Chorus Document Automation, an AI-driven ICR, has a 98% accuracy rate, even on handwriting, making it more accurate than humans.
• Meeting Service Level Agreements (SLAs). Generally, work is prioritized based on some calculation based on business days. During traditional processing, the system distributes work objects to users based on a work selection routine. It could be first-in, first-out (FIFO), based on some set of rules defined by the company or self-selected by an associate. Depending on the type of work selection routine in use, the system scans a list of outstanding work objects and chooses objects for each user according to queue and privileges. None of these are ideal, however, as some work needs to be prioritized over others. Whether it is a SLA, a “VIP Customer” request, or regulatory, companies need the flexibility to prioritize some work over others. Add digital workers (RPA) into the scope and the situation can get messy to maintain. Launching a solution like Work Prioritization AI, an intelligent way to identify what works needs to be prioritized, there is no need to depend on static rules or to miss an SLA as the AI can learn from your current prioritization patterns, and prioritize the work dynamically.

SS&C Chorus is the newly integrated intelligent automation platform that brings together leading-edge technologies to create transformational, ROI-driven client solutions. Building on the company’s reputation as an end-to-end solutions provider, SS&C Chorus incorporates the award-winning digital workflow solution, AWD, and Vidado, the AI-driven document automation technology and integrates all aspects of these solutions into a centralized user interface and consulting and implementation services and managed services in SS&C’s secure private cloud.

SS&C Chorus is purpose-built for complex, regulated industries such as banking, financial services, insurance and healthcare. It is designed to increase straight-through processing, reduce operational risk, enhance digital customer journeys and accelerate innovation.