From September 19-20, customers, partners, technologists, and business leaders interested in and intrigued by intelligent automation will gather in Austin, Texas, for Automation Anywhere Imagine. In our two-part Road to Automation Anywhere Imagine series, we’re sitting down with execs to find out more about the transformative power of intelligent automation and what to expect at the conference.
For this interview, we spoke with Automation Anywhere co-founder and CEO Mihir Shukla about how to alleviate the pressure to increase productivity, the possibilities of generative artificial intelligence (AI) to improve processes, and conference must-attends.
00:44 — Businesses are in a productivity crisis. They are experiencing an accelerated rate of change. Pressure comes from every side to reduce costs and increase revenue. It almost feels like our economy is reconfiguring itself.
01:38 — The working-age population is declining. In order to achieve growth, productivity must be improved without increasing population. Automation and generative AI is a unique opportunity for productivity increase. Mihir puts generative AI and automation on the same level as the birth of the computer and the birth of the internet.
03:07 — This is a different world. A year ago, you could achieve efficiency. Take the example of a contact center where you could achieve 22% efficiency by automating various processes. When generative AI came, you could achieve about 14% efficiency. But when you combine both, magic happens: A next-generation contact center that is 70% fully autonomous.
04:42 — Intelligent automation and generative AI can impact four core areas of the business. First, it can impact revenue by significantly improving customer experiences. Second, automation improves cost because you can operate at lower cost levels and perform faster with fewer errors.
05:29 — Third, intelligent automation and generative AI make an impact on cash management. Especially in today’s environment, it can immediately impact P&L by improving your order to cash processes. The fourth is risk in various businesses, healthcare, financial services, and others. By improving compliance and risk, you can accelerate growth.
06:37 — A recent Automation Anywhere report found that 76% of companies say productivity is their top key performance indicator (KPI) for intelligent automation; 69% say customer satisfaction is the most important.
07:56 — With the help of this technology, customer requests that once took 20 minutes to take care of, now take three seconds, a huge difference across every aspect of customer experience in the buying process.
08:45 — There will be Imagine conference sessions on driving customer satisfaction and compliance that feature speakers from Key Bank and PNC Bank. The productivity theme is infused throughout the sessions.
09:24 — If Mihir had to pick two sessions to attend, he’d pick one of the 30 customer sessions that highlight the impact size on the business, which can range from $250 million to a billion dollars. The second would be a session where Automation Anywhere will reveal its own generative AI model, exclusively designed for processes. What if you could deliver a prompt and instead of receiving content in response, the work gets done? That’s the future of work.
10:58 — There is a wide range of very compelling speakers and brands attending the conference: GM Financial, Nike, UnderArmour, Hasbro, TIAA, and many more.
Interested in learning the latest on intelligent automation?