2. MACHINE LEARNING
• ML is a subset of artificial intelligence (AI) which provides machines the ability to
learn automatically and improve from experience without being explicitly
programmed.
Types pf ML
1. Supervised Learning:- Machines learn through guidance known as labelled data
(this is input and this is output) the teacher is the training data. Regression
problems (trends analysis) & Classification problems (spam & Ham). Map
Labelled input to known output, so Direct feedback. Applications in Risk
evaluation, Risk Analysis, forecast sales, profits, productivity etc
2. Unsupervised Learning:- Machine learns without any supervision means data is
not labelled. Association problems & Clustering problems (credit card
fraudulent). Understand pattern and discover output, so No feedback.
Application in Recommendation System e-commerce
3. Reinforced Learning:- machine learns on its own. Trial and error. Observes
everything and stores, works on Reward system gained from environment
surrounded. Application in self driving cars, Gaming.
9. RPA - Robotic Process Automation
RPA is software with virtual robots that humans can use to interact with
various other software types and elements in the digital system
infrastructures. Humans use the RPA robots to handle repetitive digital tasks.
In particular, the ones that involve many rules and constraints are the tasks
that become the specializations of RPA robots. The RPA robot that aids humans
does not only mimic human behaviours. They also mimic and execute rule-
based business processes.
Financial transactions are the most frequent areas that require the RPA
process. Such things include processing sales orders, refunds, payrolls for
employees, and invoicing.
The RPA application can also automate customer service responses. As a
result, companies that apply the RPA tools will shorten their times to generate
leads for marketing purposes.
10. RPA in different fields
• Banking, Finance, and Insurance: There are massive amounts of transactional
processes in this industry that RPA can automate, from internal-only documents
to deposits, withdrawals, and payouts.
• Healthcare: The benefits of RPA in healthcare industries include shorter waiting
times, more detailed medical records, and reduced loads of administrative
works.
• Manufacturing: The RPA in manufacturing industries does not only facilitate
administrative works. It also works hand-in-hand with the existing software bots
to streamline operational processes.
• Transport and Logistics: The order management, the distribution cycles of
each order that customers make, and the supply chain linkages are the three
things that become the benefits of RPA in the transport and logistics industries.
• Utility companies: The three products of utility companies are electricity, gas,
and water. There are always monetary transactions in utility companies since
many people need these three products. The job of RPA involves automating
these transactions. In particular, the RPA lets utility company workers measure
the meters accurately.
11. Ten most popular Robotic Process Automation (RPA) tools in
2021
Here are the ten most popular RPA tools for companies and business owners in 2021:
1.Eggplant – The end-to-end automation process is one of Eggplant’s specializations that
lets it interact with multiple systems in a device.
2.JAMS by HelpSystems – This enterprise IT solution centralizes the scheduling process
in a company across all platforms and applications.
3.Power Automate by Microsoft with the MS security technology-protected tool
automation feature.
4.UiPath – The open-source RPA tool can automate any desktop or web apps.
5.Blue Prism does not require advanced programming skills to generate flowcharts.
6.OpenConnect with the secure and encrypted data system that addresses almost all
types of operational and competitive challenges.
7.WorkFusion, a SaaS crowd computing platform that lets the users deploy as many RPA
robots as they need to automate software tasks for a group.
8.Pega, an RPA tool for medium and large businesses to provide cloud-based solutions.
9.Nice System with its virtual assistant to automate mundane employee tasks.
10.Kofax integrates well with the Kapow Katalyst platform.