The Robots Are Here! How AI and ML Automation Solutions Solve Business Problems
Organizations of all sizes are eager to adopt AI and ML automation into their operations. Smaller businesses are concerned that such cutting-edge technology could be complex or too costly. In reality, AI and ML technology are more efficient tools to help overcome increasing complexities of a globalized and digitalized world.
Another important purpose for the use of intelligent technology is to create better employee experience in their day-to-day tasks. Expectations on every employee's productivity is ever increasing. With better intelligent work tools, they will be able to complete work faster. Giving employees back time for more work-life balance will continue to be a strong focus in times ahead.
Start with these areas when moving to an AI/ML-enabled business:
- Zero in on busy work that requires repetitive processes, where manual error commonly occurs and recurring tasks that bring low job satisfaction.
- Listen out for recurrent issues that are repeatedly brought up in the operation flow.
Intelligent technology like AI and ML can help your business by
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Mitigating risk and compliance in employee spend: Intelligent technologies can streamline changes to policy, embedding new rules into the workflow. AI robots can scan transactions and identify risk and compliance issues that could expose your organization to fines and reputational risks.
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Auditing: Intelligent robots can look at every line item, cross-checking them against multiple databases, faithfully executing each step of the process. Then, in partnership with people, they serve up exceptions to human auditors who can solve problems instead of finding them.
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Managing taxes: Intelligent technologies, along with embedded tax knowledge, can digitalize the compliance process, automatically checking transactions against local tax regulations and find significant reclaim opportunities.
The journey to AI does not have to be complex, expensive or chaotic. The fast path to AI and ML is to leverage existing algorithms and patterns that are already trialed, tested and implemented by many of other businesses who shares similar operational processes like expense management, policy control and fraud prevention.
Download this white paper to learn what to consider when thinking about adopting AI and ML solutions. Choose the right technology partner for your business to run better.
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