AI Combined with RPA Revolutionizes Business Operations

The integration of Artificial Intelligence (AI) with Robotic Process Automation (RPA) is transforming the landscape of modern business. RPA imitates human behavior by automating repetitive tasks, enabling companies to enhance their efficiency and productivity. Meanwhile, advancements in AI, particularly through machine learning algorithms, allow for real-time analysis of vast datasets, providing deeper insights into market trends, risk assessments, and customer behaviors.

As businesses embark on this technological journey, critical questions arise: Are they prepared to harness the full potential of these innovations while effectively managing associated risks?

Are they ready to tackle ethical dilemmas, as well as privacy and data protection concerns?

Additionally, there is apprehension about job displacement due to the widespread adoption of AI, which is already changing operations for major global players, including Amazon, and local enterprises.

At the recent AI Summit, Sheila Ujoodha, CEO of the Mauritius Institute of Directors (MIoD), emphasized the necessity for organizations to adapt to this “significant shift.”

She pointed out that AI can revolutionize decision-making processes and fuel innovation.

Notably, Deb Hurkoo, Managing Director of Technology at Rogers Capital, asserted that RPA offers invaluable solutions for businesses, especially in light of the current labor shortages facing the country.

He stated, “RPA is the answer to the challenges posed by the shortage of human resources and the changing nature of work. It allows enterprises to operate more efficiently, focusing on more value-added tasks.”

Hurkoo explained that the combination of AI and RPA is fundamentally altering various aspects of business—stretching from redefining work and workplaces to transforming how teams engage with their tasks.

He also highlighted that Rogers Capital is actively working on deploying these technologies in several large Mauritian companies and the leading firm in Nigeria.

He further underscored the importance of understanding a company’s digital competency levels.

“For a company to thrive, it must recognize human capital—the most significant asset—by evaluating what employees can do and identifying skill gaps. There are tools available to measure technology skills across different sectors,” he noted.

However, he warned of a prevailing shortage of specialized skills crucial for implementing AI effectively: “Training is essential to bridge these competency gaps as many enterprises have struggled with AI due to its complexity.”

A Call for Change and Awareness

Ujoodha stressed the urgency of readiness for change, urging companies not just to observe these technological developments but to actively engage in them.

She noted advancements across sectors such as healthcare, finance, risk management, fraud detection, commerce, governance, and data analytics, which could foster better decision-making and anticipate future trends.

Despite these opportunities, she cautioned that AI adoption comes with heightened risks. Ujoodha advocated for responsible AI development, presenting a “comprehensive strategy” that encompasses innovation, investment, and education as essential for navigating this new terrain.

Strong governance, she argued, is vital to ensure ethical standards are maintained, reiterating the importance of leadership in setting these ethical benchmarks from the top.

During the summit’s opening, Sunil Bholah, Mauritius’ Minister of Financial Services, described the moment as historic and called for proactive management of AI’s risks and benefits.

He acknowledged the growing competition among cities aspiring to be AI hubs but asserted that Mauritius possesses unique advantages, such as a skilled workforce and a reliable ecosystem.

He encouraged ambitious goals, innovation, and a principled approach to AI implementation.

The AI Summit featured a range of experts discussing AI’s implications across various fields.

Notable insights included sessions led by Sandeep Mohapatra, Head of Digital Transformation and Technology at ABSA Mauritius, and Gauri Nayak, Director of Technology and Transformation at Deloitte Mauritius.

Nayak demonstrated how AI can drive workplace innovation, while Ryan Allas, Managing Director of Rogers Capital Tax Services, addressed the intersection of AI and taxation compliance.

Enhancing Operations through Robotics

In practical terms, Rogers Capital offers innovative RPA solutions that enable businesses to streamline operations effectively.

RPA bots, programmed to perform specific tasks, interact with user interfaces to capture data and manipulate applications as a human would.

These bots exhibit the capacity to interpret data, trigger responses, and communicate with other systems to handle a variety of repetitive tasks.

The benefits of implementing RPA are substantial, including increased productivity, improved allocation of human resources, heightened efficiency, cost savings, reduced operational risks, enhanced customer experiences, and enriched data insights.

As businesses increasingly adopt these technologies, the potential for transformation is immense, paving the way for a more agile and innovative future.

Source: Le Mauricien