Picture VAD Technologies and Simplifai arranged a “Digital Boardroom” for Top Technology Leaders from the Banking, Financial Services and Insurance (BFSI) Industry in the Middle East Region to discuss how to leverage the Power of Artificial Intelligence (AI) for Operational Excellence. on March 24th, 2021.
This Digital Boardroom was specifically design for Top Technology Leaders and on invitation only and brought together some of the Key CIOs, CTOs, Heads of Digital Transformation, Operations and Innovation from leading Banks and Insurance Companies from across the Middle East region to (1) discuss some of their Operational challenges, to (2) learn the latest best practices & innovative solutions and (3) how to effectively leverage the power of AI to bring in automation in work processes to improve the business operations to achieve competitive advantage and operational excellence.
 
Operational Excellence lies on the foundation of continuous improvement. A continuous improvement in work process efficiencies is a key element today to gain competitive advantage. With technology stepping in to help companies scale up operations, Intelligent Process Automation which comprises use of RPA and AI, becomes crucial means used by businesses to grow smarter with increase in ROI and operational efficiency.
The new trend in process automation is embraced by the concept of Intelligent Automation where Digital Employees (RPA) are integrated with new functionality as machine learning interpretation services. Work processes that involve language comprehension and interpretation of free text can be challenging to automate, and tasks related customer communications including e-mail correspondence and handling of documents are often done manually in most companies today. AI and Intelligent Process Automation strengthens the competence of a Digital Employee to automate more complex work tasks, and which builds competence in machine learning. Digital Employees can support employees in job functions such as customer service, case processing and other roles with manual and time-consuming work tasks. This helps in freeing up employees to focus on the task which add more value to the business growth.
 
In case you were not among those joining the Event, please find here the link to the recordings:
https://youtu.be/SQDXIIMMiJw
 
Key takeaways from the event were:
  1. Adopting AI through intelligent automation in workplace with the help of digital employees can lead to significant improvements in organisations' business processes. Customer Service as discussed in the session can hugely see improvements in operational efficiency at workplace.
  2. Digital Employees are the next step towards digital transformation and can help in driving more business values through AI and IPA. The Digital employee can automate manual tasks with RPA and AI, thus freeing up employee time to engage in more value-added tasks.
  3. Practical use of AI and RPA in a business to achieve process automation.
 
About Erik Leung
Chief Operation Officer (COO), Simplifai
https://www.linkedin.com/in/erikleung/
Erik Leung, a leading expert and visionary in AI, is the co-founder and the COO of Simplifai based out of Norway. With more than a decade’s worth experience in product design and development in the BFSI industry, Erik’s vision is to spread digital transformation with the help of intelligent cognitive systems through Simplifai.
 
About Simplifai
Simplifai is an AI automation company that creates digital employees for businesses to leverage the power of AI in their daily work processes. We aim towards bringing end-to-end automation in the workforce with the help of smart artificial intelligence solutions that can reduce the time taken for handling repetitive processes.
To learn more about Exasol please visit: www.simplifai.ae
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