Software Robots will bring huge value to businesses, Cognizant study shows

March 27, 2015: As per the new study by a leading IT solutions company Cognizant, the new software "robots" will bring significant value to enterprises within next three to five years by leveraging attributes like machine learning, artificial intelligence, and effective use of big data.
The study was conducted by Cognizant's Center for the Future of Work, they have polled 537 key business and technology decision makers across multiple industry sectors, including healthcare, hospitality, financial services, insurance, pharmaceutical, retail and technology. There was a consensus among many respondents on the benefits of Intelligent Process Automation(IPA) and mining the resulting big data, they all believe it will provide value and meaning to their businesses. The faster processing with least errors, unlimited scalibility, and lower cost of ownership, economical and the ability to make timely business decisions through automation enabled analytics has been highlighted as the standout features of the software.

Respondent says about 25-40% of the workflow today of their businesses has been automated and it replaced the earlier manual inputs procedure. 44% of respondents have huge expectations for automatic enabled business analytics, while one fifth of them claimed they achieved 15% cost saving from this over the past year.

Gajen Kandiah, executive vice president of Cognizant Business Process Services said: "The future of work includes connecting skilled people to increasingly powerful technologies such as automatic computing including artificial intelligence, machine learning and deep learning that can increase savings, engance insights, and accelerate business. The shift is playing out in just about every industry. Our IPA practice applies digital transformation at the process level to help our customers benefit from automation. Our new study findings show that this trend will only accelerate over coming years as business leaders seek agility, better customer understanding, and cost saving."

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About Riz Stories

An Electronics Engineer by education, a part-time blogger by passion. He loves everything about technology, hence he writes about it. Interest includes Technology, Startups and Mobile Applications.
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