Automation of complicated business processes using AI and RPA. IPA uses cognitive technologies to manage unstructured data and make judgments beyond RPA.
Published in Chapter:
Hyperautomation in Financial Services: Revolutionizing Banking and Investment Processes
Copyright: © 2024
|Pages: 16
DOI: 10.4018/979-8-3693-3354-9.ch010
Abstract
The financial services industry is on the verge of a revolutionary period, propelled by the emergence of hyperautomation. This study explores the significant influence of hyperautomation technologies, including artificial intelligence (AI), machine learning, robotic process automation (RPA), and other advanced digital tools, on banking and investment procedures. This analysis explores the ways in which these technologies are changing and improving business operations, enhancing consumer satisfaction, and modifying the competitive environment. The chapter begins by providing an overview of the present condition of financial services, emphasizing conventional approaches and the growing requirement for innovation in order to address changing market demands and rising client expectations. Subsequently, it offers a comprehensive examination of the integration of hyperautomation technologies into many facets of financial operations, encompassing algorithmic trading, personalized banking services, risk assessment, compliance monitoring, and customer service improvement.