RPA Can’t Think: Insurers Should Invest in Cognitive AI
Robotic process automation (RPA) has become a prominent buzzword within the insurance space over the past couple of years, promising the potential to automate businesses’ high-volume and low-complexity processes. However, where RPA has seemed to miss the mark is that it is unable to integrate advanced cognitive capabilities that can operate in a dynamic business environment. Tasks like communicating, making inferences, or solving complex problems have been out of reach for RPA.
RPA also comes with a learning curve, requiring human labor for ongoing operations, and can be rather costly. Implementing AI solutions into your insurance business should genuinely help employees “work smarter, not harder” and not create more work or hassle for them.