Intelligent Process Automation

Simple Definition for Beginners:

Intelligent process automation involves using advanced technologies like artificial intelligence and machine learning to automate complex business processes, improve efficiency, and enhance decision-making.

Common Use Example:

A financial institution implements intelligent process automation in its loan approval process, using AI algorithms to analyze applicant data, assess risk factors, and make automated loan approval decisions, reducing processing times and improving accuracy.

Technical Definition for Professionals:

Intelligent process automation (IPA) combines robotic process automation (RPA) with artificial intelligence (AI) capabilities such as machine learning, natural language processing (NLP), and cognitive automation to automate end-to-end business processes intelligently. It involves automating repetitive tasks, data entry, decision-making, and workflow management using AI-driven algorithms and analytics. Intelligent process automation systems can learn, adapt, and improve over time, handling complex tasks, exceptions, and dynamic environments, leading to operational efficiency, cost savings, and strategic insights.