With artificial intelligence advancing rapidly, there needs to be more clarity about what generative AI means for process automation. After all, process automation has been around for decades, and generative AI is now being framed as the hot, new approach to getting work done with the support of technology. However, one will not replace the other.
Deploying more process automation for the critical but often manual workflows that every company has is a crucial step in the evolution of technology, leading to generative AI. It also remains a solid entry point for many organizations as they aspire toward moving faster, freeing employees to focus on more strategic and value-added activities.
Take mortgage processing, for instance. Conducting mortgage quality checks is traditionally very manual and time-consuming. To make it less so, a financial institution might create an RPA bot to review forms and ensure that the initial data included is accurate, handing off more complicated reviews to employees when necessary.
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