automation anywhere launches generative ai solution to automate business processes

Automation Anywhere launched new generative AI solutions to help organizations be more productive by automating internal processes.

Data from McKinsey indicated that, to meet global GDP targets, businesses need to boost productivity by 50%. However, they are facing a widening productivity gap. Generative AI can drive a new wave of productivity, transforming how companies work.

Automation Anywhere is infusing generative AI across its Automation Success Platform to accelerate ROI. The platform’s open architecture allows companies to leverage any best-in-class generative AI models. The innovations include:

  • Automation Co-Pilot with generative AI for business users, which enables teams to take any generative AI use case, from content creation to email sending.
  • Automation Co-Pilot for automators, which uses generative AI to transform conversations into automations, speeding up automation development for power users and business teams.
  • Document Automation with generative AI for faster data extraction from unstructured documents. This solution unlocks more data that can then be inserted into workflow automations.

The platform has built-in guardrails, oversight and data privacy to ensure responsible AI use.

Also read: 30+ OpenAI Statistics for 2023 – Data on Growth, Revenue & Users

According to Maureen Fleming, program VP at IDC, AI-powered solutions accounted for 20% of all business automation spending last year.

“With generative AI poised to spread across all areas of an enterprise, we are at the very beginning of a cycle that will see generative automation rapidly expand automation opportunities, speed up automation development, and enable users to automate as needed to do their jobs”, Fleming highlighted.

The generative AI and automation solutions will benefit industries like healthcare, manufacturing, and financial services by streamlining operations, improving customer service, and enhancing efficiency. Automation Co-Pilot for business users is available now with previews of the other solutions coming in Q3.

Automation Anywhere Partners with Google Cloud and AWS to Power its AI Tool

automation anywhere creates bots for third party software

Alongside the launch of this new solution, Automation Anywhere announced partnerships with both Google Cloud and AWS from Amazon (AMZN). In the case of Google’s cloud infrastructure, AA will tap on both the firm’s large language models (LLMs) and the solutions provided by Vertex AI to help customers implement this new generative AI tool rapidly.

“Automation Anywhere, in partnership with Google Cloud, will help companies embrace Generative AI and put it to work, reshaping how companies engage customers, empower employees, and build apps – all with an unwavering commitment to trust, governance, and privacy”, commented the Chief Executive Officer and Co-Founder of Automation Anywhere, Mihir Shukla.

The Automation Success Platform, the solution used by customers to automate their business processes by using the company’s software, will incorporate the technology devised by Vertex AI to allow users to create data summaries, communicate with their clients more effectively, and speed up the process of drafting and signing contracts.

In a similar fashion, the partnership with AWS will let Automation customers tap into one of the world’s most powerful cloud marketplaces and infrastructures to build and deploy their business automation initiatives with the assistance of generative AI.

AWS has been the company’s top partner for deploying cloud-native solutions including the firm’s robotics process automation (RPA) software. Automation Anywhere will rely on Amazon’s SageMaker Jumpstart and Bedrock to help customers create AI models that fit their needs by using pre-trained LLMs.

According to data from Crunchbase, Automation Anywhere has raised $1.1 billion from investors thus far including $200 million in debt financing obtained from SVB Capital and the dismantled Silicon Valley Bank back in 2022.

Automation Anywhere was founded in 2003 with the goal of helping businesses automate their internal processes by using artificial intelligence, machine learning, robotics process automation, and other similar techniques.

The firm has reportedly helped customers in 90 different countries deploy nearly 3 million bots that perform simple and time-consuming tasks. In addition, more than 1,200 bot products are available to companies who would like to rely on existing solutions to automate tasks on third-party software and platforms such as Salesforce’s CRM and SAP.

Other Related Articles: