What is Hyperautomation? How Does it Work?
We are now living in the Fourth Industrial Revolution, or hyperautomation. This is a term used by the consultancy Gartner to describe the automation of any business process using a combination of robotic process automation (RPA) and other advanced technologies, such as Artificial Intelligence and Machine Learning. What does this mean for your business?
In this exploration article, we will explore what hyperautomation is, how it works, and some of the trends that are shaping it.
What is Hyperautomation?
Hyperautomation is the automation of any business process using a combination of robotic process automation (RPA) and other advanced technologies, such as Artificial Intelligence and Machine Learning.
What makes hyperautomation different from previous industrial revolutions is that it has the potential to automate not just manual tasks but also complex decision-making processes. This is made possible by the increasing availability of data and computing power.
How Does Hyperautomation Work?
Hyperautomation works by automating repetitive manual tasks and complex decision-making processes using a combination of robotic process automation (RPA) and other advanced technologies, such as Artificial Intelligence and Machine Learning. This is made possible by the increasing availability of data and computing power.
Some of the trends that are shaping hyperautomation include:
- The increasing availability of data and computing power
- The need for businesses to be more agile and responsive to change
- The rise of new technologies such as Artificial Intelligence and Machine Learning
Key Concepts of Hyperautomation
There are four key concepts of hyperautomation:
- Automating repetitive manual tasks: This includes tasks such as data entry and simple decision-making.
- Automating complex decision making: This includes more sophisticated tasks such as fraud detection and risk assessment.
- Enabling business agility: Hyperautomation can help businesses to be more agile and responsive to change.
- Increasing productivity: Hyperautomation can help businesses to increase their productivity by automating repetitive manual tasks and complex decision-making.
Hyperautomation is a concept that is still in its early stages of development. However, it has the potential to revolutionize the way businesses operate and will have a significant impact on the economy in the years to come.
Key Technology of Hyperautomation
There are several distinct technologies used in artificial intelligence. The most popular ones, in this category, include:
Robotic Process Automation (RPA)
Robotic process automation makes it possible to automate repetitive manual tasks. It does this by using software robots, or “bots”, to mimic the actions of a human.
Artificial Intelligence (AI)
Artificial intelligence is a form of computer science that enables computers to make decisions for themselves. This can include tasks such as fraud detection and risk assessment.
Machine Learning (ML)
Machine learning is a form of artificial intelligence that enables computers to learn from data. This can include tasks such as fraud detection and risk assessment.
Natural Language Processing (NLP)
Natural language processing is a form of artificial intelligence that enables computers to understand human language. This can include tasks such as sentiment analysis and text classification.
Hyperautomation is a concept that is still in its early stages of development. However, it has the potential to revolutionize the way businesses operate and will have a significant impact on the economy in the years to come.
So, what does hyperautomation mean for your business?
The potential benefits of hyperautomation are vast. By automating repetitive manual tasks and complex decision-making processes, businesses can improve efficiency, reduce costs and free up employees to focus on more value-added activities. In addition, hyperautomation has the potential to improve decision-making by providing employees with more time to gather and analyse data.
While the potential benefits of hyperautomation are significant, businesses need to be aware of the risks associated with this technology. These include the potential for job losses as a result of automation, as well as the need for employees to retrain to work with new technologies. In addition, businesses need to consider the ethical implications of automating decision-making processes.
What Is The Fourth Industrial Revolution?
In 2016, Klaus Schwab–the founder of the World Economic Forum— coined the term “Fourth Industrial Revolution” in a book of the same name. If you’re looking for a good definition of this concept, look no further than its pages: “The Fourth Industrial Revolution creates a world in which virtual and physical systems of manufacturing cooperate with each other flexibly on a global scale.”
The Fourth Industrial Revolution, on the other hand, is not limited to smart and connected gadgets and systems. Its reach is far more extensive. Waves of further discoveries in areas such as gene sequencing, nanotechnology, renewable energies, and quantum computing are taking place simultaneously.
It’s the integration of these technologies across the physical, digital, and biological realms that distinguishes the Fourth Industrial Revolution from previous revolutions. What’s more, this time, the speed of change is exponential.
In other words, we are living in a time when the very nature of work and production is being transformed by technology. The changes that are taking place are so deep and fundamental that they have the potential to reshape our world completely.
The Bottom Line
The hyperautomation trend is one that businesses need to be aware of. While the potential benefits of this technology are significant, there are also risks associated with its implementation. Businesses need to weigh these risks and benefits carefully before deciding whether or not to adopt hyperautomation.
What do you think? Is your business ready for the hyperautomation trend? Let us know.
