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Over twenty years back, in the first wave, automation was part of the entire Six Sigma and Lean Six Sigma approach to processes. One looked at analyzing steps of a process, identifying unnecessary waste and then making the entire process more efficient and lean. Cost out and waste reduction were the key motto.
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Lean AI: Powering Intelligent Automation - The Third Wave of Operational Efficiency
Automation has gone through three waves of change. First Wave: Automation was a part of the entire Six Sigma and Lean Six Sigma approach. Second Wave: Increased use of technology to eliminate manual processes. Third Wave: Operational effectiveness is the focus now.
AI is playing a significant role in internal process automation. Some examples include: ● Predictive maintenance of asses for zero downtime of operations. ● Increase compliance and reduce cycle time for automated review and inspection. ● Integrated business planning and dynamic budget and resource allocation. ● Improving customer experience with automated support, claims, underwriting, etc.
The Third Wave can be defined as Lean AI driving intelligent automation It improves operational efficiency and effectiveness. It helps in eliminating waste, reducing cost, and building better predictive signals.
Step 1: AI Use Case Discovery • Step 2: Data Transformation • Step 3: Process Re-Imagination • Step 4: Institutionalization
Operational effectiveness is a key short-term goal for many businesses. Covid-19 has businesses reassess their priorities and investments. Lean AI with an intelligent automation approach can lead to substantial savings for a business.
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