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Why implement business accounting with Intelligent Automation and Robotic Process Automation?

This article will give an answer to two main questions: what are the possible uses of Intelligent Automation within corporate accounting? What benefits can AI bring to organizations in the administration, finance and control areas?

What are the possible applications of AI and RPA in accounting?

There are so many processes in accounting offices that can be optimized through the use of RPA and Artificial Intelligence. These include the management of large amounts of official documents and important information flows.

Robotic Process Automation, for example, is most useful for managing documents that pass through different offices. Invoices, receipts, expense reports and various PDFs that have to be read, accounted for and entered into business systems.

Artificial Intelligence facilitates these processes by recognizing even unstructured documents and extracting the most important data from them. Robotics intercedes in the manual aspects of retrieval and system entry of all the information collected from the various channels. It is important to remember that different channels and filters may exist within more or less structured companies.

What are the benefits of introducing IA into corporate accounting?

There are many benefits that companies can obtain from implementing Intelligent Automation and Process Automation in their accounting offices. These include: 

  • saving employees’ time spent on mechanical tasks; 
  • ensure greater accuracy and adherence to compliance; 
  • performing spot checks in a short time;
  • reinvesting staff time in value-added activities.

IA, RPA and AI are employed in carrying out the most mechanical and alienating office tasks, freeing up the time of qualified personnel. For example, robots and machines can take care of: copy-pasting PDF documents into the management system; checking data and amounts regarding expense reports, receipts and invoices; etc. The time saved can then be reinvested in value-added activities, like analyzing and interpreting data.

Another major benefit of implementing Artificial Intelligence within corporate accounting offices is the guarantee of higher accuracy in the performance of tasks. Robots follow rules mathematically, without exceptions or process errors. As a result, companies can achieve superior compliance, which means full adherence to established norms and standards.

Moreover, Intelligent Automation enables checks of any kind to be conducted on a blanket basis and no longer just on a sample basis. The robot can quickly analyze data and return accurate information in a short time.

The topic of automation involves both large companies that have very large volumes to manage and small companies that are working to optimize and manage the limited number of employees. For example, Intelligent Automation can support the merger process between two organizations. In merger cases, records must be brought back to a single office. AI and RPA can help and support the corporate merger process through optimized workload management.

The relationship between Human Intelligence and Artificial Intelligence: how to find balance?

Once Intelligent Automation is introduced into the company, it is very important to be able to manage the relationship between robots and employees. In this aspect, the “human in the loop” approach plays a very important role.

What does “human in the loop” mean?

“Human in the loop” refers to the model that places human knowledge and experience at the center of automated processes. It thus restores both that sensitivity proper to the human being and that guarantee of accuracy proper of the work done by the robot, which cannot be left to chance.

We can then ask employees to use the time gained to approve and control the activities performed by the machine and thus add value back to the process. This combination represents a significant gain not only in accounting, but also in aspects of administration, HR and so on.

In fact, only people can give back to the machines the “human” detail that is needed to complete the job.

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The ABCs of Intelligent Automation: Transforming Business in the Digital Age

Introduction In the rapidly evolving digital landscape, Intelligent Automation (IA) stands out as a transformative force in business. Blending the capabilities of Artificial Intelligence (AI) with traditional automation, IA is redefining how companies operate, compete, and thrive.

Understanding Intelligent Automation At its core, IA is the synergy of AI and automation technologies. It’s about making processes smarter, more adaptive, and more efficient. This goes beyond mere task automation to encompass AI-driven data analysis and automated decision-making, reshaping the future of work.

The Role of AI in Intelligent Automation AI elevates automation by introducing advanced intelligence, enabling systems to learn, predict, and make decisions. This fusion creates an environment where tasks are performed automatically and optimized for better outcomes, thanks to AI’s capabilities in understanding language, recognizing patterns, and processing large data volumes.

Impact on Business Efficiency IA is a game-changer for business efficiency. It streamlines operations, from customer service with chatbots to supply chain management, enhancing productivity and agility. IA accelerates operations and provides insightful analytics for continuous improvement.

Challenges and Solutions in Implementing IA Implementing IA presents challenges like integrating legacy systems, managing data quality, and adapting organizational change. However, with phased implementation, employee training, and adaptable IA tools, these challenges can be overcome, paving the way for a successful IA transformation.

The Future of Work with IA IA is shaping a future where routine tasks are automated, allowing for more strategic, creative work. It promises a collaborative environment where human ingenuity is complemented by automated efficiency, leading to innovative and effective solutions.

Transforming Customer Experience with IA IA is revolutionizing customer interactions. Integrating AI, businesses can offer personalized service 24/7. Chatbots, automated recommendations, and AI-driven support systems enhance engagement and satisfaction, providing quick resolutions and tailored experiences.

Conclusion Intelligent Automation holds immense potential for businesses and the workforce. Its ability to transform processes, enhance efficiency, and improve customer experiences positions IA as a key element in the journey towards digital transformation and innovation.

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What are the benefits of introducing AI into the company?

What are the benefits of introducing AI into the company?

Artificial Intelligence can help and support companies in many sectors. For several years, RPA (Robotic Process Automation) solutions have been used to simplify processes and make repetitive tasks automatically. They enable companies to save time and money while increasing the productivity of their staff and enhancing their value in other activities.

What is the difference between RPA and AI?

RPA and AI (Robotic Process Automation and Artificial Intelligence) are two parallel and complementary technologies that differ in the specific goals they pursue. Artificial Intelligence refers to many different technologies and is quiet broad.

What is Robotic Process Automation?

RPA or Robotic Process Automation is a technology that aims to automate repetitive business processes and operations using software robots. Low value-added and highly rule-based tasks that would otherwise be performed by employees using computers. RPA solutions execute inputs, specific actions and end-to-end processes with precision and speed that humans cannot replicate. These technologies simplify work, reduce time and costs, and increase productivity and business efficiency.

What is Artificial Intelligence?
Artificial Intelligence refers to advanced technology that simulates human intelligence and reproduces certain associated behaviours, such as planning, learning and interacting with one’s surroundings. This software can think like a person. Two examples of the application of Artificial Intelligence are Machine Learning and Deep Learning.

Why integrate RPA and AI in business?
RPA and AI are complementary technologies that are increasingly used in everyday life. AI is a generic term that encompasses many different technologies. Both were created to automate business processes and empower workers to devMuletto00ote themselves to tasks with the highest strategic business value and increase their productivity. Artificial Intelligence and Robotic Process Automation interact with systems and applications as if they were human beings. RPA performs repetitive tasks and AI is also used for much more. These are high-value-added technologies for the company and if implemented and integrated can generate even greater benefits and advantages. From the integration of Robotic Process Automation and Artificial Intelligence comes Intelligence Process Automation (IPA), the refinement and automation of end-to-end processes.

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Artificial Intelligence: between the disappearance of current jobs and the birth of new opportunities.

Intelligent Automation Congress

The future is innovation.

Although it has existed for several years, Artificial Intelligence still arouses many doubts and different questions, each of them conflicting. According to some, the new technologies are destined to make a large part of the current jobs disappear. Others believe that they will be a pretext for creating new ones. But one thing is for sure, innovation is by definition the future, and it is therefore necessary to understand how this will change it.

The consequences of AI on the world of work.

Artificial intelligence intelligently automates processes and allows companies to optimize time and value human capital. On the one hand, therefore, we look at the economic savings and the advantages that workers and businesses can obtain from new technological solutions, while on the other we fear repercussions on the number of jobs. In fact, the machines are capable of performing the complex tasks currently incumbent on the employees.

We must consider, however, that they are repetitive and alienating tasks that do not value people and their uniqueness. Automation in fact leads to a clear reduction in costs for the company and a clear increase in productivity and efficiency, not to mention that human resources can reinvest their time in more strategic activities for the business. It should also be borne in mind that new workers, skilled in their skills, are needed to create work automation programmes.

These technologies are constantly evolving but we must consider that artificial intelligence is not yet suitable for creative, interpersonal or physical work. It is therefore used more than anything else to support those who make decisions and not to take them independently. Work that is still up to human intelligence. The amount of work for employees rather than being eliminated is simplified and reduced.

The balance between automation and intellectual work.

So yes, Smart Automation will lead to the loss of many jobs. Or rather, it will be possible to reorganize human capital and allow workers to perform new and more stimulating and productive tasks. At the same time, thanks to new technologies, such as Artificial Intelligence and Robotic Process Automation, new professional figures emerge that the market needs, with new technical skills.