Managed.IT - issue 52

BULLETIN 6 MANAGED.IT 01732 759725 AI automates assessment of R&D tax claims Accounting firm Grant Thornton is using an AI- powered decision-making platform to automate the assessment of Research & Development (R&D) tax claims, saving clients time and money in their dealings with advisors. The Rainbird platform lets clients perform their own R&D tax assessments and, thanks to an in-built audit trail, produce evidence reports of claims assessments for faster claims sign-off. Rainbird is designed to replicate human judgements and handle uncertainty and ambiguity as a human would. Because Grant Thornton is able to view the rationale behind each Rainbird decision, it can avoid processing risk- heavy claims and focus on ones that are more likely to be accepted by HMRC. Grant Thornton Partner Karl Eddy said: “Assessing R&D claims can be a convoluted undertaking as there are so many factors to consider when determining whether or not it qualifies as R&D. By using Rainbird technology we’ve been able to harness the valuable background knowledge of our R&D specialists to automate the assessment process. It has two significant benefits: for our clients, it is a more intuitive way for data to be collected; and for our people, it frees up time to spend on value-added advice to our clients, which can have most benefit and be more rewarding.” He added: “Early feedback from clients has been positive and we are now looking at other applications for this powerful technology.” www.rainbird.ai Businesses leverage AI to improve ‘customer intimacy’ One in two businesses views greater customer intimacy as the main reason to adopt artificial intelligence (AI), claims an MIT Technology Review Insights report sponsored by Genesys. The pan-European survey found that 90% of firms are already using AI to improve the customer journey and more than 90% are investing in AI tools to automate processes and enhance customer channels. The vast majority of respondents report measurable improvements as a result of their investment in AI, including faster complaint resolution (92%) and call volume processing (82%). On average, respondents indicate that 25% to 50% of enquiries are now completely resolved through automated channels, leaving agents with more time to handle complex tasks. www.genesys.com UiPath to open network of Automation Immersion Labs Enterprise robotics process automation (RPA) specialist UiPath is launching a network of innovation centres where customers and partners can find out more about how machine learning and RPA can be utilised to automate business processes. As part of its Automation First Initiative, UiPath will be building Automation Immersion Labs that showcase technologies from the UiPath partner ecosystem. Customers and partners will be able to bring in their own data to use with pre-configured use cases. The first Automation Immersion Labs are due to open in Bucharest and Bangalore, with other locations to follow later this year, including London, New York, Seattle and Tokyo. UiPath is introducing a number of other RPA/ AI initiatives, including the UiPath Go! marketplace of UiPath-vetted reusable automation components, which has recorded hundreds of downloads since launch last October, and a $20M investment fund to support the activities of channel partners. The $20 million will be split between the UiPath Venture Innovation Fund, set up to invest in AI-focused partners with expertise in machine learning, business process management (BPM), process mining and intelligence, and the UiPath Partner Acceleration Fund, which is designed to help partners inspire and support automation and AI innovation and accelerate enterprise-wide RPA adoption. A recent survey of 1,000 UK office workers by UiPath suggests organisations are still underestimating the likely impact of robots in the workplace, with 78% of respondents expressing confidence that their jobs will survive automation. Almost half (48.5%) ‘strongly’ believe repetitive tasks couldn’t be managed by robots; 72% don’t believe robots will make them more productive; and 62% don’t consider the introduction of robots as an opportunity to upskill. The World Economic Forum (WEF) forecasts that by 2025 humans will be responsible for less than half (48%) of all work activity, compared to 71% today, with machines increasing their share of ‘task hours’ from 29% to 52%. www.wef.ch Humans still best Three quarters (75%) of consumers prefer their customer service enquiries to be handled by a live agent, reveals a new survey by NewVoiceMedia. Just 13% would be happy for all service interactions to be handled by bots. The main concerns people have with chat bots are their failure to understand an issue (65%); an inability to solve complex issues (63%); not providing answers to simple questions (49%); and impersonal service (45%). Dennis Fois, President of NewVoiceMedia, said: “When a situation becomes emotional or complex, people want to engage with people. For this reason, companies must find the right balance between automation and human support. Frontline contact centre teams will continue to make a difference in the battle to win the hearts and minds of customers, and organisations deploying self-service solutions should ensure that there is always an option to reach a live agent.” www.newvoicemedia.com bulletin Financial services industry positive about AI Almost two thirds (65%) of senior financial services industry decision-makers expect technologies such as Artificial Intelligence, blockchain and robotics to have a positive impact on their business, even if only 33% are deploying them today. According to a study by Intertrust, 65% believe disruptive technology will deliver most value by driving back-end operational efficiencies in areas such as KYC (Know Your Customer) reporting and compliance. www.intertrustgroup.com Disruptive technology in financial services: Are you focusedon the future? intertrustgroup.com UiPath has opened an Automation Immersion Lab in Bucharest

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