From the course: Innovating Business Models for the AI Era
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Automating work and processes
From the course: Innovating Business Models for the AI Era
Automating work and processes
- [Presenter] In scaling efficiency, automating work and processes is the most common AI application, often creating short-term value. However, it is important to understand that this provides only a small part of the potential positive impact of AI that we cover through this course. Automation is driven primarily by the desire to reduce costs from existing systems, but also the potential to increase the quality of work outputs. Automation has a very long history, from farm and factory machinery through to business processes using what is called RPA, Robotic Process Automation. This has traditionally been applied to tasks that have three primary characteristics. They are repetitive, data-intensive and rule-driven. The next generation of AI capabilities allows automation of more complex tasks. They may use pattern-learning using past data to uncover patterns that are applied to new situations. They can be judgment-based, making decisions based on multiple parameters, and…
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