Join top executives in San Francisco July 11-12 and learn how business leaders are anticipating the generative AI revolution. Learn more
Business process automation has been around for decades and is not being interrupted by the power of generative AI.
At today’s VentureBeat Transform 2023, will know founder and CEO Binny Gill e Wipro Ventures Managing partner Biplab Adhya discussed how generative AI can help improve automation. The panel was moderated by VentureBeat’s Carl Franzen.
In February, Kognitos raised $6.8 million in a funding round that included Wipro Ventures, the investment arm of Wipro, a global business process and IT consulting services firm. Adhya explained that Wipro Ventures’ goal is to identify emerging and disruptive technology companies that its business units can work with and use the solutions to help its corporate clients.
“Automation is a key component of what our customers want from us,” Adhya said.
Over the years, automation has come in many forms, including rule-based process technology, robotic process automation (RPA), and more recently low-code frameworks. With the advent of generative AI, Adhya said his team realized the technology has the potential to create a disruptive way to manage business process automation.
“Everyone is talking about the potential of what it can do,” Adhya said of the generative AI. “What we were looking for is the touch of reality around what you can do today and how it can be used safely by businesses.”
How Kognitos aims to disrupt the natural language automation market
Kognitos’ Gill noted that the idea of bringing automation to the enterprise is not new. What is, however, a newer concept is the use of natural language to enable automation. This is what Kognitos is doing with its generative AI platform.
“Now you don’t have to learn the language of the machine, the machine is now learning the language of humans,” Gill said.
With the legacy approach to automation, rules typically need to be hard-coded to run. With the AI approach used by Kognitos, this is not the case. Gill explained that the AI engine that handles the automation is fine with ambiguity and the system continuously learns from human interaction.
As such, instead of an approach where an organization writes code, runs it, and prays it works, Gill said organizations can have a system where AI provides a dialogue to ask users when it’s not relevant. all clear which approach should be taken.
“You get the rigor of business logic and you’re still meticulously following a business process,” Gill said. “But then there are places where you need some sort of human judgement. This is where the human will speed up with still needing human permission and over time your business will get faster and faster.
AI is “just another” employee
For Wipro, Adhya said, Kognitos AI is like having another employee.
“It’s an engine for the business user, it’s almost like a coworker for a business user, and the user is training his coworkers to do things that that person is doing,” Adhya said.
Not only is the Kognitos AI platform viewed as just another employee, Gill noted that AI’s generative approach with natural language also means organizations shouldn’t have to hire additional employees and data scientists to run the automation engine.
“The language of automation is understood by both the layman and the machine,” said Gill.
VentureBeat’s mission it is to be a digital city square for technical decision makers to gain insights into transformative business technology and transactions. Discover our Briefings.