How are AI and Knowledge Process Automation going to help the UAE meet its sustainable infrastructure goals?
Knowledge Process Automation/Optimisation or Knowledge Worker Automation (KWA) refers to a style of automation where back-end installed software integrates with an organization’s core systems through APIs as part of an overarching organizational transformation initiative. KWA or KPO automates complex cognitive tasks involving comprehension, intelligence, skill, and judgement complementing Business Process Automation (BPA).
With this, organizations in the UAE will be able to automate, simplify, and improve tasks that require specialized intelligence. An example of this would be the automating of medical claims processing and reimbursement or the digital automation of processing trade settlements.
To build a sustainable business and technology infrastructure in UAE, organizations must be able to harness technology that is scalable and applicable to tasks of all levels of complexity. This is where KWA comes in to process large amounts of unstructured data or to significantly cut down on the manual human effort that is needed – this helps organizations improve efficiency, save cost, and reduce risk – critical factors that can ensure sustainability of businesses in UAE.
How is TAIGER helping companies, especially in the logistics sector, go paperless?
Document processing exists in every industry. It is skilled labor intensive and costly, making it difficult for organizations to scale their operations. Artificial Intelligence (AI) can be harnessed to implement a paperless strategy, but it takes a special set of AI technologies to emulate human-like intelligence and propel organizations towards a true paperless work environment. TAIGER’s patented approach of melding various AI disciplines to process unstructured data (such as power of attorney, board of resolution etc.) and structured documents yields an industry leading accuracy rate of more than 85%. This is also backed up by the contractual KPI we work with clients to determine and achieve, helping banks and government agencies to reduce paper-driven processes, save costs and processing time.
As an example, TAIGER worked with Santander Bank in Spain to transform the way they onboard non-customer SMEs. By automating and digitalizing the main steps of onboarding, Santander successfully reduced the time taken for new customers to open an account from an average of seven days to just 15 minutes compared to the traditional in-branch process. Through the implementation of this entire project, SMEs that have never banked with Santander can now open an account 100% digitally, through web or app, without the need to go to a branch and eliminating the need for cumbersome paperwork.
What are some of the key challenges to going paperless?
While many organizations see the need to go paperless, many of them are still uncertain about how best to do it, given that the manual processes that currently exists in their organizations have served them well over the years. And, while many organizations also know that AI can help with them going paperless, many of them are still unclear of the ROI of investing in AI.
To address this, we need to demystify AI and provide a clear roadmap for organizations as they look to start implementing AI to embark on their paperless business process journey. Business leaders need to start identifying the correct AI strategy and approach, implementing it in a highly scalable way to harness the value of their structured data, unstructured data. This is a key first step to unlocking phasing out cumbersome paperwork in the business environment.
Comment: Education is the key to the Industrial Internet of Things
With a “lack of technology know-how” holding back almost a third of manufacturers, EMS CEO Keith Austin explores how innovators can ensure no one gets left behind
IIOT (Industrial Internet of Things) has swept across the manufacturing sector at some pace. According to a recent Deloitte report, 74 per cent of scaling manufacturing businesses are looking to invest in new physical equipment and machinery – demonstrating the desire to up their game. Yet, worryingly, almost a third of manufacturing businesses cite ‘lack of technology know-how’ as one of the biggest challenges they face when seeking to adopt new technologies.
These are businesses seriously at risk of being left behind. Not only affecting their efficiency and production levels, but impacting on their ability to attract talent too. This extends to internal communications as well, as employees need to feel inspired to embrace new methods.
Bridging the knowledge gap
So, what can innovators in the sector do to change this? In short, they must do more to reduce the knowledge gap. It is the people and businesses at the forefront of these advancements that have the ability to ensure progress across the sector.
Proven time and time again, the best method of bridging a knowledge gap is through face-to-face educational experiences. Through live demonstrations and getting new innovations in the hands of those nervous to embrace change, progress can quickly become far less daunting. Traditionally, we might have seen this done through the trade show format, but with key decision makers more time-starved than ever, it requires a more innovative approach.
There is a real opportunity for leading innovators to bring knowledge and understanding direct to the doorsteps of businesses. Global provider of industrial and electronic products, RS Components, has done just that with the creation of an immersive mobile showroom tour. What really sets this campaign apart is the format. It brings major brands such as 3M, Siemens and Design Spark together under one roof – showcasing world leading innovations and giving visitors the chance to actually get hands-on with the products. The roadshow is currently travelling across Germany, providing easily accessible, face-to-face engagement with new innovations.
From ‘knowledge bars’ that offer visitors the chance to get the answers from the experts themselves, to recreating a live real production environment so that visitors can see the impact of the technologies for themselves, there are a whole host of ways to bring IIOT to life for those that are new to it. It’s about presenting new technologies in such a way that people feel confident to implement change themselves.
Hands-on the future
Of course, IIOT will have its biggest impact on the next generation, and there is some important work to be done to educate the engineers of the future. A skills gap study undertaken by Deloitte showed that nearly 4.6 million manufacturing jobs will become available over the next decade, however, nearly 2.4 million of these are expected to go unfilled. Realising the enormity of this problem, some manufacturers are engaging with schools and universities to deliver educational sessions that demonstrate the potential offered by a career in the field.
However, to really stand out and take things one step further, manufacturers need to get creative in their efforts to inspire the next generation. After all, how can we expect young people to get excited about AI, IoT and robotics, if we don’t give them the chance to experience it for themselves? By creating immersive experiences that put young people in the shoes of the sector’s top engineers – whether through use of virtual reality tools or live challenges using new technologies – we can actually inspire them to want to want to embrace the next wave of innovation.
Realising the Fourth Industrial Revolution
While it is clear that IIOT is alive and kicking, it presents a massive challenge for the sector. Bridging the knowledge gap will be crucial to ensuring not only that today’s manufacturers don’t get left behind, but also to inspire the next generation to pick up the baton. There’s no doubt that the way innovators engage the sector can have a huge impact on this in the years to come. Now’s the time to match the approach to knowledge sharing with the exciting potential of the technologies which are revolutionising this sector.