Ability to automatically process documents in most any language from anywhere will change the way people work
San Jose, CA /PRNewswire/ - Automation Anywhere®, the global leader in Robotic Process Automation (RPA), today announced major advances to IQ Bot 6.5™, its artificial intelligence (AI) solution that greatly expands the global market for RPA.
Capable of learning from humans, IQ Bot can now auto-detect, read and process a variety of complex, low-resolution documents and emails in 190 languages as well as process document images with the Automation Anywhere Mobile app.
With the global workforce becoming increasingly mobile – with 1.87 billion mobile workers by 2022 1 -users can now access IQ Bot from a mobile device, process images and have the results emailed to them – all while on the go, so that anybody, anywhere can use it: field workers, home appraisers, insurance adjusters and delivery workers.
Today, an estimated 80 to 90 percent of organizations still manually extract data from documents and emails. The advanced AI capacities of IQ Bot are designed to free up business users around the world from the mundane task of entering data into enterprise applications. Automation of such complex, repetitive tasks liberates people to focus on what humans do best – innovate, collaborate and use their talent to solve business challenges.
"The ability to implement a bot quickly and cost-effectively to automate data capture can dramatically impact a company's bottom line," said Harvey Spencer, president of HSA, a leading analyst firm that follows this market. "As organizations eliminate legacy document processing solutions and bots become smarter using AI, the potential market for tasks that can be automated expands significantly. In many ways, RPA companies are at the forefront of this."
Advances in AI and cloud technologies are rapidly expanding the market for data capture, a $20 billion untapped opportunity, according to a new study by Harvey Spencer Associates (HSA)2. A separate research study found that automation can cut down the cost of processing documents, such as invoices, insurance claims and loan applications, by as much as 84 percent3.
The latest release of IQ Bot, which combines AI with RPA, offers:
- Unique ability to process low-quality documents and detect handwriting
- Ability to process documents in 190 languages with localized interface for English, French, German, Japanese, Korean, Spanish, Mandarin and Simplified Chinese
- Capability to process document images via the new mobile app
- Advanced AI algorithms for smarter document classification and separation
- Enhanced integrations to unlock capabilities, such as predictive modeling and chat bots sourced from the world's largest ecosystem of AI partners
"We believe the full potential of enterprise automation can only be realized when RPA and AI work together," said Mihir Shukla, chief executive officer, Automation Anywhere. "Today, we are providing universal access to automation, with new language and mobility features in IQ Bot eliminating the friction that limits productivity and helps workers do their jobs better."
Additional information on IQ Bot is available here.
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About Automation Anywhere
Automation Anywhere is the leader in Robotic Process Automation (RPA), the platform on which more organizations build world-class Intelligent Digital Workforces. Automation Anywhere's enterprise-grade platform uses software bots that work side by side with people to do much of the repetitive work in many industries. It combines sophisticated RPA, cognitive and embedded analytic technologies. Over 1,600 organizations use this AI-enabled solution to manage and scale business processes faster, with near-zero error rates, while dramatically reducing operational costs. Automation Anywhere provides automation technology to leading financial services, insurance, healthcare, technology, manufacturing, telecom and logistics companies globally. For additional information, visit www.automationanywhere.com.
1 Global Mobile Workforce Forecast Update 2016-2022
2 Capture 2.0 Input Solutions Software Sizing Rationale and Discussion, by Harvey Spencer and Mike Spang, HSA Inc., 2019
3 Institute of Finance and Management Accounts Payable Benchmark Report, 2017