Laiye eBook 2022

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The Rise of
Intelligent
Automation

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INTRO | OVERVIEW | HEALTHCARE | RETAIL/CPG | LEGAL | INSURANCE | 5 STEPS | CONTACT US //////////////////////
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/// INTRO ///
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Executive summary

The first wave of automation led by the now legacy Robotic Process Automation (RPA)
vendors, was disruptive. Automating the ‘low hanging fruit’ of rules-based admin tasks
increased efficiency and woke executives up to the art of the possible.

Remote working and supply chain Gartner defines Hyperautomation as a business-driven,
disruptions forced business leaders to disciplined approach that organisations use to rapidly
accelerate their digital transformation. identify, vet and automate as many business and IT
Automation tools, advancements in Artificial processes as possible. Intelligent Automation (IA)
Intelligence (AI) and the reduced cost of achieves this by combining AI-powered RPA, Intelligent
computing proved digital transformation Document Processing (IDP), and Chatbot functions,
to be a cost-effective alternative to preferably built in-house, to work together seamlessly.
outsourcing and offshoring jobs.
So whether you are an insurer developing new
However, the first wave of process types of coverage in response to a pandemic,
automation promised much, delivered a retailer looking to reduce supply chain waste,
some benefits and left many disappointed. a law firm needing fast and accurate client
RPA’s ‘first foray’ only solved a small piece risk assessments, or a healthcare practitioner
of the process - the connections to legacy looking to increase staff productivity,
systems - but completely neglected the incorporating IA to improve business
importance of data and documents to those processes has to be on your ‘To Review’ list.
automated processes.
Laiye has been at the forefront of this
Since those first efforts to automate, new era since its inception. We know
Artificial Intelligence has now become your To-Do list, like business in general,
mainstream and proven its worth. The changes often and rapidly. Our goal
greatest benefits from this technology are is to help you respond at the speed
its ability to adapt as conditions change and post-pandemic business, and
to automatically extract, classify, validate, more importantly, your customers
and make decisions based on unstructured expect.
or conversational data.

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/// OVERVIEW ///
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The unstoppable progress of Digital Transformation

Overnight, digital initiatives around the world increased in response to the pandemic to
enable remote working, deal with key worker shortages and support the eCommerce
boom. According to McKinsey, this accelerated digitisation of internal business
operations by three to four years.

The following benefits drove organisations to digitise and automate processes:

• Deliver outstanding customer service
• Increase employee productivity
• Increase and diversify revenue

Global organisations such as Banks and eCommerce companies placed their faith in RPA
to deliver this automation, using software robots to replace repetitive and mundane tasks
reliant on human inputs at a lower cost. As a result, the global RPA market is expected to
reach $7.64 billion by 2028.

However, just because you can automate a process, doesn’t mean you should. The rush
to digitise established processes comes at the cost of understanding how, or if, this
first generation RPA technology can deliver wider business goals. For many it cannot.
In reality, it lacks the intelligence and integration with other business processes to
effectively support complex decisions.

True business transformation requires more than simply digitising the mundane
processes of yesteryear. It comes from firstly integrating automation throughout
your organisation to deliver its current objectives and goals. But it also needs
to then inform the next set of objectives to digitally transform the business.

Laiye works alongside clients, together with its partners, to map out what
parts of the entire organisation require automation and what impact that
automation should deliver. Without applying this rigorous approach
companies tend to treat the problem, not the cause.

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What businesses need from automation

Markets are not static, they constantly evolve. As such, any automation Automation Novices: Flexibility to meet rapidly
a business employs must be able to adapt and grow. Legacy RPA is not changing workforces
intelligent or integrated, and therefore cannot meet modern digital Expert guidance Process unstructured data
business needs. This has led to many RPA platforms snapping up AI Guaranteed results
companies, but if history is any guide, software integrations, like most
mergers, take longer than expected and deliver less than promised.

IA doesn’t just increase efficiency and productivity, it also gives businesses RPA Pioneers: Enhances what I have
past and predictive data to diversify their product offerings according to but doesn’t lock me in
changing market and consumer needs. This ability to rapidly develop new Built with AI at its core A vendor who values me
offerings means companies can no longer focus solely on traditional Adapt to changing business
competitors working in their sector. Tech giants like Netflix and Amazon volumes and processes
bring a new threat to all sectors if they decide to expand using their vast
historic pools of consumer data. They already know your customers
better than you do. But IA can change this.

Working with the world’s largest mobile network operator, Laiye Enterprise Goliaths: Predictive insights to
uncluttered its vast and unstructured customer data, automating future-proof my business
onboarding and customer service processes. Implementing Innovation which helps Low-risk options to switch vendor
Laiye’s AI-driven IA platform processed 519,000 documents achieve my goals
per month with 100% accuracy. The resulting increased AI-first solution which
productivity created an 83.3% increase in additional guarantees results
employee time.

Laiye understands how to transform businesses through
intelligent automation. Whether it’s replacing outdated
processes or enhancing current automation capabilities
with AI, Laiye has the tech and the know-how to
make businesses more productive, efficient, and
successful.

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Beyond RPA: The AI benefit

“Only Consultancy firm, EY, defines Intelligent Automation as ‘When robotic,
AI-powered intelligent and autonomous systems are integrated, the result is intelligent
RPA will automation, widening the scope of potential tasks and processes that can be
survive. Pure automated.’
RPA companies
are becoming Also called Hyperautomation, this new generation of RPA uses Natural Language Processing
dinosaurs” (NLP), Optical Character Recognition (OCR) and other deep learning algorithms to automate
operations, AI recognition, reading and writing data.
Craig Le Clair, Forrester
However, in order to deliver reliable IA, Artificial Intelligence must be at an RPA provider’s core,
rather than bought and merged. Relying on legacy systems can create data quality issues when code
is not optimised to work with AI. Laiye’s AI-driven RPA is able to consolidate data from multiple systems
- including legacy tech - to prepare it for advanced AI processing.

All of the components that make up Laiye’s IA technology are built by the same team. These components
are designed to reinforce one another to create the utmost value to the customer.

The journey to intelligent automation

Personal assistant Introduced Scaling Intelligent
bots at the beginning intelligent document Automation

processing

Bulk process automation First wave of AI Hyper Intelligent
integrated automation Automation
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INTRO | OVERVIEW | HEALTHCARE | RETAIL/CPG | LEGAL | INSURANCE | 5 STEPS | CONTACT US //////////////////////
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Uniting people and robots

AI bias is an industry problem that cannot be
ignored. It can cause discrimination, or lead to
a business losing out on opportunities such as
pricing more accurately or enhancing services
for selected customers.

Creating unbiased automation opportunities at scale Pharma company CNBG integrated
delivers better business outcomes. Tasks requiring Laiye’s so ware robots to fully
manual judgement and decision-making such as automate its customer audit
second-round information verification and confirmation processes, including:
should be assigned to people to provide accurate input
for the robots to learn.

The beauty of IA is that it constantly adapts to its Order processing
environment, learning how to do its tasks more Master data maintenance
efficiently. It is a strategic game-changer for Customer file audits
organisations. Combining this learning with inputs from
people increases accuracy and allows for efficient and 412Saved hours per month
simple task processing.
100% end-to-end automation
IA also enhances the breadth of processes that can be achieved
automated. Enterprise-grade daily document processing 100% accuracy
can now be automated, including document recognition,
interpretation, classification, verification, and other
essential business functions. This is revolutionary for
document-heavy industries such as Health, Insurance,
Law and Retail.

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INTRO | OVERVIEW | HEALTHCARE | RETAIL/CPG | LEGAL | INSURANCE | 5 STEPS | CONTACT US //////////////////////
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/// HEALTHCARE ///
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Taking your operations o life support

Increased demand and decreased supply due to the global health
pandemic stretched processes to breaking point. It also highlighted
a skills gap, with too few trained health professionals fighting against
more-informed ‘worried well’ patients who Google symptoms and
catastrophise on a whim.

Increasing use of healthtech from health-conscious digital consumers Laiye worked with one of India’s
introduces technical challenges when integrating multiple third-party systems. largest medical groups, operating
Data may need to integrate between an insurance provider, a private 14 hospitals with more than 2,300
healthcare organisation and public healthcare systems. Or perhaps one healthcare professionals. Laiye’s
doctor’s surgery sends PDFs over to another doctor - this data may need IA delivered:
to be classified, extracted, and entered into systems. Processing this
level of sensitive data manually is inefficient and error-prone.

IA integrates systems and reduces wasted time by optimising system, A new data entry scheme
supplier and billing management. It can automate updates to
Electronic Health Record (EHR) systems, order medical supplies, Reduced turnaround time (TAT)
and read and analyse supplier information from Enterprise
Resource Planning (ERP) systems, among other functions. 65-75%for claims processing by
0%Reduced errors to
Medical staff are wasting time on work unrelated to their
patients, decreasing the quality of care. Using IA to remove
mundane tasks from their daily activities is not only cost-
effective but potentially life-saving.

$10Saved million

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INTRO | OVERVIEW | HEALTHCARE | RETAIL/CPG | LEGAL | INSURANCE | 5 STEPS | CONTACT US //////////////////////
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/// RETAIL/CPG ///

Shopping for valuable data

Top 5 Challenges CPG & Retailers face: 30% of the Consumer Packaged Goods (CPG) industry’s sales
growth in the next five years will come from online. But the rise of
1 Deriving insights from unstructured data online shopping also results in an influx of mismanaged returns for
retailers, with $428 billion of merchandise returned by consumers
in 2020 in the US alone.

2 High volumes of customer queries Without automation, this increase in demand leads to supply chain disasters. Globally,
3 Managing exchange and recalls retailers recorded losses of a whopping $1.75 trillion due to mismanaged inventory.

In addition, competition from the world’s most friction-free digital platforms like Alibaba,
Amazon, and eBay, forced retailers online. As the number of digital interactions increases,
so does the repository of consumer data. But many fail to use this data intelligently to inform
decisions on product, quality, and marketing.

4 New sales models - online sales/Direct- 27% of companies spend 3-5 days consolidating data to support category insight, and another
to-Customer (DTC) distribution model 26% spend 5 or more days. Imagine if you could consolidate data in minutes as opposed
to days? Failure to respond quickly to evolving market trends means putting money in your
competitor’s pockets.

5 Stock level mismanagement One of the biggest home retailers in the world deployed 60 Laiye software robots to automate
key processes including order delivery, adjustment of distribution schedule, and global supplier
coordination. The European retailer processed 200,000 orders automatically, saving over 5,000 work
hours and eliminating order entry errors.

Intelligent Automation increases productivity and accuracy by removing time-consuming admin tasks whilst
also analysing data to deliver actionable insights at speed. It helps retailers cater for the whims of capricious
smartphone buyers whilst delivering great customer service. For CPG, Laiye optimises manufacturing and
distribution processes.

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/// LEGAL ///

The Case for Automation

The legal sector is one of the most document-reliant 5 Ways IA benefits
professions. Firms have implemented tech to replace the legal sector:
antiquated processes, but they still have a long way to go.

PwC’s Law Firms’ Survey showed ‘Improving the use of technology’ Increases Reduces
remains a number one priority for firms, with ‘Matter Management’,
‘Document Management’ and ‘Collaboration Tools’ leading the list productivity by casework errors to
of desired tech innovations.
84% 0%
Manual admin processes like scanning past cases to look for
precedent can now be done in seconds through Intelligent Reduces 24/7
Document Processing. Automating manual and data-
intensive processes increases productivity by 84% and operational tech support
reduces costs by 30-60%. costs by
from over
Law firms have merely scratched the surface of 30-60%
automation by focusing on simple siloed processes. 500,000
Laiye’s IA technology can scale automation quickly
throughout a business, increasing productivity Laiye developers
without any loss of attention to detail.

Improve

e ciency by

70-90%

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INTRO | OVERVIEW | HEALTHCARE | RETAIL/CPG | LEGAL | INSURANCE | 5 STEPS | CONTACT US //////////////////////
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/// INSURANCE /// How IA can help Insurers:
Reduce error rate to 0%
Premium Automation
Scale and integrate automation
Consumers generally hate buying and claiming insurance - 68% throughout the business
of complaints deal with filing a claim. Businesses who buy a lot of Process unstructured and
insurance, regarding it as a ‘cost of business’, want seamless quotes conversational data
and renewal processes. Intelligent Underwriting supported by
Intelligent Document Processes
Insurtechs entered the market using data and technology to deliver better Automate claims through
customer service and create new products that meet today’s challenges. New intelligent chatbots and IA
insurance lines of business like cyber security, alongside new channels to sell-
through, such as comparison sites, offer lucrative revenue avenues. But only
those able to use past data to accurately predict and assess risk will lead.

Established insurers already have vast amounts of historic customer data
to meet these new consumer and business needs. But, without the
proper tools in place this data sits in a forgotten silo, when it should be
used to compare historical data against current customer activity to
detect fraud, assess risks and process claims.

A KPMG global survey of Insurance CEOs placed ‘lacking insight
into future operational scenarios’ as the greatest challenge in their
digital transformations. Automating and streamlining processes
like intelligent underwriting were noted as areas where
progress is being made. But there’s still a long way to go.

Using IA, insurers can capitalise on the “forgotten” data of
individuals and markets, delivering a more accurate risk
assessment and therefore price. It can also dramatically
reduce the turnaround time to handle claims. Using
past and current data to predict the future doesn’t
just make customers happy, it also reduces claims
payouts for insurers.

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/// 5 STEPS ///

5 steps to fix your business automation

1 Interrogate your business
Do you understand what tasks can or even should be automated quickly? What
data would open up new revenue streams? Automation doesn’t work
if you focus on the wrong areas of your business.

2 Identify what isn’t working

Did you jump into RPA with rose-tinted glasses but feel underwhelmed? You’re not alone -
your legacy RPA lacks intelligence. Laiye can enhance the tech you are already using, or rip and
replace it. But you need to be able to identify what isn’t working, and the results you expect.

3 Look for solutions with AI at their core

Intelligence is so important our legacy RPA competitors keep buying AI companies - but bought
AI doesn’t integrate well with their legacy systems. Laiye’s AI is baked-in from inception making
intelligent automation effortless and scalable.

4 Go BIG, or go home

There is no point in automating one small siloed process, or multiple siloed processes. Intelligent
automation demands integration across business processes. Without this you cannot deliver business
transformation.

5 Never stop

///////////////// Automation never stops. IA is already transforming what automation can deliver, through omni-channel customer
support and intelligent document processing. The lists of solutions will only increase to enhance business operations,
processes, products and services.

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/// CONTACT US ///

Our AI-powered intelligent
RPA, IDP, and Chatbots are
transforming how leaders lead
and how businesses operate.

If you’re tired of legacy RPA providers not
delivering on promises, talk to one of our
experts to step up your Digital Transformation
with an Intelligent Automation solution that
guarantees results.

Please visit https://laiye.com/en/ or drop us a note at
[email protected].

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