Hyper-automation is invading the business space by bringing in exciting potential use cases

‘Hyperautomation’ is the buzzword across many industries, and especially, the business sector is taking a keen interest in the technology. When the concept of automation first came into existence, people were reluctant to the concept. When people heard the word ‘automation,’ all they could think of was a dystopian future where machines replacing human employees, and in the worst case, machines taking over mankind. This kind of misconception has ruled over people’s minds for a long time. But not anymore, thanks to the Covid-19 pandemic and Industrial Revolution 4.0. Today, hyper-automation is invading the business space by bringing in exciting potential use cases and great capabilities.

Even though the word hyper-automation dates back to 2004, the term gained its popularity in 2019 and 2020. Gartner identified the technology as one of the ten trends of 2020 and predicted that adopting hyper-automation will reduce as much as 69% of the manager’s workload by 2024. The global economy was in a critical situation during the lockdown followed by the pandemic. As a result, businesses trod cautiously on expenditures, carefully examining their risk and withholding investment. That is when automation made its debut in the business industry. Companies adopted automation to reduce human-to-human contact and human intervention in routine, repetitive processes. McKinsey found that 77% of automation companies are reportedly strong or very strong disruption to their demand as a result of the coronavirus. This shift has further rooted for hyper-automation’s place in business while Industry 4.0 movement also contributed to the paradigm. According to World Economic Forum, industry leaders could see as much as a 70% gain in productivity with automation. 

Hyperautomation

Hyperautomation is the concept of automating end-to-end business processes that go beyond standard rule-based tasks. It is the extension of legacy business process automation beyond the confines of individual processes. By entwining multiple technologies with automation, hyper-automation enables virtually any repetitive task executed by business users. According to Gartner, hyper-automation focuses on two aspects namely completely automating everything in the company and a move from RPA to RPA combined AI for intelligent automation. However, hyper-automation relies on various sub-technologies of artificial intelligence as listed below. 

• Robotic Process Automation (RPA): RPA uses computer software to reproduce repetitive tasks, activities, or processes such as data entry, payment conciliation, and data sharing. It can also share information from one platform to another. 
• Machine learning: Machine learning leverages the facility for machines to autonomously learn from the algorithm. It accesses data, learning automatically from observing the way data moves. 
• IBPM: IBPM is the merger of Business Process Management (BPM) with other technologies like artificial intelligence to dynamically automate processes from end-to-end.

Benefits of adopting hyper-automation in business

Leverages wider scope: Hyperautomation opens the door for wider scope by encompassing both structured and unstructured content as well as the entire chain of tasks involved in the workflow from end-to-end. This facilitates streamlining automation which eventually leads to improved business outcomes.

Limitless access to technology: So far, companies were worried about adopting and funding for technologies separately. Embracing technology and supporting it using the company’s revenue is both time-consuming and expensive. But hyper-automation is blurring the thin line between limited technologies and business operation. As hyper-automation comes with a handful of sub-technologies, business organizations are able to make full use of them.

Accelerating complex tasks: Hyperautomation provides a high-speed route to engaging everyone in transforming the business, supported by automating more and more complex work that relies on knowledge input from people.