Intelligent machines are slowly permeating every aspect of our professional and personal lives, according to What to Do When Machines Do Everything. In terms of how both organizations and individuals perform their daily work, these new machines are omnipresent, fast-growing and deeply disruptive.
Consequently, many companies are baffled and tentative about how to react and where to employ this powerful technology into their own daily operations. Some large insurance and brokerage firms have begun dabbling with robotic process automation (RPA) as a way to reduce costs by automating outsourced and low-risk work.
While the intentions behind them are sound, many RPA initiatives have failed to achieve the desired cost-containment objectives, however. This is partly due to “overpromising and under-delivering” supply, but also because early buyers don’t yet know where to apply the promising technology to the most suitable business cases.