Built In– 5 AI Trends to Watch in 2023
1) Rapid democratization of AI Tech and research
2) Generative AI taking it up a notch
3) Heightened AI industry regulation
4) More emphasis on explainable AI
5) Increase collaboration between humans and AI
“According to a recent report published by consulting giant McKinsey & Company, which surveyed some 1,492 participants globally across a range of industries, business adoption of AI has more than doubled over the last five years. Areas like computer vision, natural language generation and robotic process automation were particularly popular.” Built In
What does this mean for Business Process Automation?
The digital revolution has taken an exciting new turn with the rise of artificial intelligence technology, allowing businesses to automate processes faster than ever before. This democratization grants organizations unprecedented access to innovative tools that can streamline operations and simplify daily tasks with the human in control. Prepare for a whole new world of automation!
Process automation is gaining momentum in the world of AI, with increased focus on explainability and transparency. By leveraging these cutting-edge technologies to automate tasks that were traditionally labor intensive, businesses can maximize productivity while minimizing risks associated with manual errors.
Developing AI solutions to automate business processes is becoming more and more affordable and efficient.
Explainable AI
What is explainable AI and why do we need it?
With traditional AI systems, humans can find it tough to comprehend the motivations behind decision-making and predictions. This lack of transparency has a cascading effect on business operations as trust in automated processes becomes uncertain. To ensure effective decisions are made with confidence, understanding how these systems reach conclusions is critical for success.
1. In the age of AI-driven automation, a firm’s Accounting Department must grapple with the new challenge of understanding machine decisions. Traditionally this was easy to do when relying on human approvers – one only needed to look back at why something had been approved and modify processes accordingly – but artificial intelligence presents a different set of complexities that require extra insight into how it works in order for adjustments to be made and mistakes effectively prevented from happening again. Organizations are striving to gain greater trustworthiness in the automated decision-making of AI systems. To do this, they’ve turned to Explainable Artificial Intelligence (XAI) solutions which can offer a peek inside an AI’s thinking process and ensure accuracy with clear explanations for each conclusion made.
2. Explainable AI (XAI) refers to Artificial Intelligence (AI) systems that can provide human-understandable explanations for their decisions and predictions. The goal of XAI is to build AI systems that are transparent, trustworthy, and accountable. XAI provides clear and understandable explanations for the AI’s decisions and predictions, making it possible for humans to understand and verify the reasoning behind the automated process. This helps to build trust in the system and ensures that automated processes are aligned with organizational goals and values. Additionally, XAI can help to identify and address any biases or errors in the automated process, leading to more accurate and reliable outcomes. Furthermore, XAI can improve decision-making by providing human-understandable explanations for the AI’s outputs. This can help organizations to identify areas for improvement and optimize the performance of their automated processes.
3. Kognitos is the leading XAI solution?
Kognitos is a cutting-edge Explainable AI (XAI) solution that offers unparalleled transparency and accountability. It allows users to execute simple English sentences in a deterministic manner and provides a detailed explanation of each action performed in plain English. This includes explanations for any actions that were unable to be executed, and the ability to handle such scenarios through a conversational English interface. This empowers businesses to easily audit all actions performed by the system and make strategic adjustments without the need for extensive technical involvement from researchers or programmers. With Kognitos, organizations can ensure that their AI-powered processes are fully transparent and accountable, leading to improved decision-making and better outcomes.
Check out Koncierge for free today! A Generative AI platform designed to automate business processes. Describe what you want to automate and Koncierge will present a plan of action in plain natural language.
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Our clients achieved:
- 75%manual data entry eliminated
- 30 hourssaved on invoicing per week
- 2 millionreceipts analyzed per year
