intelligent process automation
What It Means
Intelligent process automation is software that can handle complex business workflows spanning multiple systems by making decisions along the way, similar to how an experienced employee would approach the task. Unlike simple automation that follows rigid rules, it adapts to different situations and can manage exceptions or variations in the process without human intervention.
Why Chief AI Officers Care
This technology can significantly reduce operational costs while improving accuracy and speed of complex business processes that traditionally required human oversight. CAIOs need to identify where IPA can deliver the highest ROI while ensuring proper governance and risk management, as these systems make autonomous decisions that can impact customer experience and business outcomes.
Real-World Example
A mortgage application process where the system automatically pulls credit reports, validates employment information across multiple databases, calculates risk scores, requests additional documentation when needed, routes applications to appropriate underwriters based on complexity, and provides real-time status updates to customers - all while handling exceptions like missing documents or unusual income sources without stopping the workflow.
Common Confusion
People often confuse IPA with basic robotic process automation (RPA), but RPA just mimics human clicks and keystrokes following predetermined steps, while IPA actually makes intelligent decisions and adapts to changing circumstances throughout complex workflows.
Industry-Specific Applications
See how this term applies to healthcare, finance, manufacturing, government, tech, and insurance.
Healthcare: In healthcare, intelligent process automation streamlines complex clinical and administrative workflows like prior autho...
Finance: In finance, intelligent process automation streamlines complex workflows like accounts payable processing, financial clo...
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Includes:
- 6 industry-specific applications
- Relevant regulations by sector
- Real compliance scenarios
- Implementation guidance
Technical Definitions
NISTNational Institute of Standards and Technology
"A preconfigured software instance that combines business rules, experience- based context determination logic, and decision criteria to initiate and execute multiple interrelated human and automated processes in a dynamic context. The goal is to complete the execution of a combination of processes, activities, and tasks in one or more unrelated software systems that deliver a result or service with minimal or no human intervention. "Source: IEEE_Guide_IPA
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