Nik on Automation and the Future of Work
by Karen Schwartz, on July 14, 2020 7:11:35 AM PDT
Nikunj Sanghvi, Infrrd’s VP intelligent automation, is passionate about helping businesses improve their speed and efficiency. He likes being part of a team that offers tailored solutions to clients interested in optimizing and transforming their processes, and says its Infrrd’s patented technology, the ability to increase accuracy and throughput, and industry-specific integrations, that make it possible. “We help them unlock their data, so that they can use it to run their businesses smarter,” he says.
Data, Bottlenecks and Automation
Responsible for business development and partners, he says he’s proud of what Infrrd has developed, and how the company can creatively use AI solutions to address the bottleneck of unstructured data that costs businesses time and money. Infrrd’s ability to automate complex business processes and turn terabytes of data into insights makes the company a valuable partner for adding speed and value, Sanghvi explains. “Automation solves business problems,” he says.
Infrrd’s technology is even more important in today’s economic environment, he says, as companies seek to retrench while reducing the risks to their workers. Companies are looking to redesign businesses processes, making them both end-to-end and removing persistent process bottlenecks, he explains.
Creating a New Mix of Human and Machine Tasks
Executives he’s spoken with are exploring what, if any, forms of AI might yield a better-performing process. In the service of that exploration, they are trying to develop and assign a new mix of human and machine-based tasks. The question of the role AI can play in managing work has surfaced with outsized importance as offices around the globe are urgently redesigning themselves to meet the demands of a new work world, driven by the global pandemic.
He sees Infrrd as a natural part of the conversation. Executives want their businesses to be less exposed to risk, and to achieve the kind of resilience that can carry them through the unexpected, he explains. That kind of future-proofing is at the top of people’s list of priorities in light of recent events, he says, as clients seek out tailored machine learning that will guide them toward their best outcomes.
“We’re lowering their operating costs, we’re improving the employee experience, the customer experience,” he explains. “There’s productivity tied to that, and business resilience in the face of a pandemic.”
Exceptions for Humans
Infrrd’s ability to take insights and make them readable is important and also exciting, he says, giving the example of a loan officer who would normally have to pour over piles of paperwork to come up with a lending decision. With the right technology, a lending decision that would have taken hours to sort out can be cut down, so that the information is extracted and sorted by business rules, exceptions are flagged, and people only have to focus on those exceptions.
In addition to uncovering what needs a closer look and keeping important outliers from being missed. “We made your job easier,” he says – and not just for any one situation. “We also help with any future use cases, things a customer might not have thought of when they approached us.”
Smarter Decisions With Automation
Automation can drive smarter decision-making, as enterprises can be guided to consider the entire process instead of just the documents. “It’s the ability to look at it comprehensively,” he says.
And as the nature of work changes, that might be more useful than ever.