Startups have a key role to play in adoption of artificial intelligence (AI) by solving for a narrowed problem and building sophistication over time, R Guha, senior director at AssistEdge RPA at EdgeVerve said during the recently concluded TiE Global Summit 2020.
Discussing the key steps organizations need to take towards ‘automation singularity’ -- concept coined by EdgeVerve, Guha said that there is a clear gap between capabilities and actual on-ground delivery.
In a conversation with Sunil Kumar Pudota, director of ShelliTES Solutions, Guha spoke about the need to align technology spends with overall digital strategy for organizations in order to achieve long term goals. “There is often the tendency to throw automation at the low hanging fruits but you will find that achieving optima in narrow pockets does not give you benefits in the long run unless you have thought through the entire journey,” he said.
To build automation for business processes, organisations also need to progress from using AI in a tactical fashion for tasks such as document extraction to leveraging contextual AI for autonomy while retaining control with the process designers to maintain a continuous audit, Guha said.
Infosys subsidiary EdgeVerve launched its cloud-based RPA solution last year to provide enterprise customers with intelligent automation as a service.
According to a recent report released by Confederation of Indian Industry (CII), hyperautomation which integrates standard robotic process automation (RPA), intelligent automation, AI, process mining and advanced analytics is growing at 20% every year and is on track to become a $5 billion market by 2024.
(TechCircle was a media partner for TiE Global Summit 2020.)