UiPath builds AI-driven task mining engine into its RPA platform
UiPath Inc., new to the stock exchange, today announced an Artificial Intelligence module that identifies manual business processes that organizations should automate and provides useful related data.
The module comes as part of UiPath Platform 21.4, a major new version of the company’s robotic process automation platform, the detailed today. Other highlights include security controls for managing large deployments and a streamlined user interface.
UiPath’s Robotic Process Automation (RPA) platform automates manual tasks like copying business files between databases and processing invoices. This is done using AI bots that replicate the individual application actions involved in each task. Customers can create custom bots through a visual interface that does not necessarily require programming skills.
UiPath Platform 21.4 includes a new module, UiPath Task Mining, to help organizations identify business processes that they could automate. The module observes how employees interact with business applications on a daily basis and uses AI to identify actions that are repeated frequently. With this information, RPA teams can identify parts of employee workflows that can be performed more efficiently with the help of RPA bots.
The tool could have several advantages for customers. Finding tasks to automate manually can be time consuming, even in a large company where there is no shortage of manual processes. By speeding up the work, UiPath Task Mining could shorten the duration of clients’ RPA projects, thereby helping them get a return on investment faster.
Another benefit is the ability to better prioritize RPA projects. UiPath Task Mining not only shows manual tasks that can be automated, but also shows data related to those tasks, such as: B. How often exactly employees repeat a certain action. With this data, organizations can identify which manual tasks are taking the most time and prioritize bot development efforts accordingly.
Since the faster discovery of automation possibilities can bring considerable efficiency gains, other market participants besides UiPath have also invested in this area. Automation Anywhere Inc. introduced Discovery Bot last year to identify repetitive parts of employees’ work processes. Last month, IBM Corp. a deal to buy myInvenio Srlwhose analytics software helps companies prioritize their business automation efforts.
UiPath Task Mining is already being used by UiPath customers. “UiPath Task Mining identified eight unique processes that occurred more than 5,000 times in a proof of concept at Paychex,” said Cassy Dunn, manager of business process improvement for UiPath client Paychex Inc., which provides HR software.
The other big highlight of UiPath Platform 21.4 are Automation Ops. It’s a cloud dashboard that administrators can use to define which employee can access which part of the UiPath platform and how. By centralizing access management in a dashboard, UiPath hopes to simplify the maintenance of large software deployments.
The introduction of Automation Ops provides another data point to underline the rapid introduction of RPA software in companies. It shows that companies are adopting RPA bots in more and more areas of their business and therefore need new management tools to contain the growing complexity of their deployments.
“As the automation footprint grows across the enterprise, these controls, combined with the power of our AI insights and our flexible new cloud management capabilities, offer every user an unprecedented automation experience,” said Ted Kummert, executive vice president of products and engineering, UiPath . .
The growth in RPA deployments from UiPath customers is also reflected in the company’s revenue. UiPath disclosed prior to going public, that the annualized net retention rate, a metric that shows how existing customer spending increases over time, was 145% on Jan. 31. Today’s release of UiPath Platform 21.4 is one of the company’s major product updates since its Stock exchange listing.
Other enhancements introduced today include interface improvements and the availability of UiPath Insights in Automation Cloud, the managed cloud version of the UiPath platform. UiPath Insights is the company’s tool for measuring the effectiveness of RPA projects.
Photo: New York Stock Exchange
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