Organizations across geography are fast-embracing the hybrid and remote working models as they are embracing their digital transformation journeys to navigate the new normal. Adopting a digital workforce is essential to overcome a series of challenges, while it cannot replace humans. The future of work will witness humans operating side-by-side with software robots to pursue business goals and tackle future challenges.
The inclusion of a digital workforce allows organizations to function seamlessly around the clock while addressing labor shortages, learning gaps, upskilling requirements, workforce flexibility, effective crisis management, and profitability.
Who are digital workers?
The digital workforce is a variety of robotic and automated solutions that work in tandem with humans to accomplish tasks that are complex, time-consuming, repetitive, and mundane. They perform complex tasks end to end so that humans can focus on creative, critical, and high-value-added activities. The digital workforce comprises technologies like robotic process automation, cognitive computing, artificial intelligence, machine learning, and more.
Adopting digital workforce
Globally, when businesses started operating remotely, adopting digital workforce technologies helped organizations to continue uninterrupted operations by functioning seamlessly round the clock and achieving speed and efficiency.
Aided by hyperautomation technologies, the digital workers can help in the end-to-end automation of business processes by mimicking human behavior to perform actions that were previously, typically done only by humans. Following are some of the use cases:
Chatbots are being used across industries, including healthcare and banking. They can streamline customer support by handling volumes of simple customer queries around the clock, bringing down the costs, and adding efficiency. Interestingly, chatbots are predicted to save $8 billion by 2022 and save 2.5 billion hours by 2023, according to a study by Juniper Research.
Chatbots add efficiency to the new normal set up when people are working in different locations and are reimagining roles focusing on quality and cognitive skills. When integrated with the IT helpdesk, the bots can empower employees to resolve simple issues on their own, thus removing the burden on human employees.
With AI and natural language processing capabilities, these bots can understand the simple language of the users and help them with the right answers. They can help a new joiner complete the onboarding formalities, like filling out forms and helping them with instant answers to common questions about company policies, roles, responsibilities, etc.
The process of onboarding customers is different across industries, be it retail, corporate, banking, or healthcare. Irrespective of the industry, it is one of the most important and complex tasks with compliance checks, stringent regulations, documentation, security, and much more.
For instance, let’s take the bank. It involves several key steps like evaluating the customer’s profiles, recording customer data, performing background checks, fulfilling legal obligations, opening the account, interacting with the customer for any support, and finally, the account becomes operational.
AI can transform business experiences in a post-COVID world
In a post-COVID world where social distancing and other hygienic protocols are at the forefront, AI can transform the banking experience for customers. Digital onboarding can reduce time and costs while addressing the prominent challenges and ensuring compliance. In a digital environment, form fillings can be done automatically with OCR, conversational AI and a virtual assistant can support customers at any time and machine learning can be used to verify customer data across all the documents.
Fighting fraud by detection stages is a critical part of financial institutions that handle volumes of unstructured data. Manual efforts in identifying, analyzing data, user profiling involves more effort, time, and prone to errors. RPA bot infused with AI and machine learning capabilities can curb financial fraud by monitoring every activity in the process loop and immediately notifying any concerns.
For example, credit scoring can be effectively monitored in the insurance claims process with the bots reviewing customer claims, matching them with the existing data, and monitoring the customer behavior to raise any abnormal behavior patterns. When trained, the bot can prevent money laundering by raising alerts of potentially fraudulent transactions.
Intelligent document processing helps organizations that process or handles several types of documents daily to reap the benefits of intelligent document processing. The process automatically reads, extracts, and analyzes from structured and unstructured data like online forms, resumes, email messages, invoices, text files, audio files, video files, and a lot more.
Functions like opening emails, downloading and reading attachments, filling forms, copying/pasting documents, extracting data from social media channels or other forums, reading/writing databases, and collecting and recording data, can be carried out with the help of intelligent document processing . Organizations can effortlessly search, extract, and analyze data for decision-making.
As the future of work is exploring ways to support the human workforce to perform at their highest potential while creating a happy working environment, the digital workforce can benefit the process in numerous ways.
Contrary to the popular myth that robots will replace human roles, the technologies will complement human efforts by adding quality, efficiency, and job satisfaction to perform better in the new digital workplace. Further, technology will enable businesses to overcome human limitations to maximize human potential nurturing a supportive working environment with more inclusive work culture.
Patrice Williams is the Business Development Representative at Vuram, a hyperautomation services company. Vuram has received several prominent recognitions, including the Inc 5000 list of the fastest-growing private companies in the United States, HFS hot vendor in 2020, and Rising Star-Product Challenger in Australia by ISG in ISG Provider Lens 2021 report. Williams has more than 20 years of experience as an operational manager and working in a multinational working environment, and has led Vuram’s hiring activities and people management. This piece is exclusive to Broadband Breakfast.
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