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In its list of top 10 technology trends for 2020, Gartner names hyperautomation a number one trend. It seems that the idea of combining several intelligent technologies – robotic process automation (RPA), artificial intelligence, process mining and others – sounds very enticing. Almost everyone has turned its gaze to it recently, as evident from the Google Trends report:
There are quite a few reasons why companies that want to stay on top of the industry, might need to adopt hyperautomation. The main objective is to create a self-evolving working environment under human supervision and enable employees to dedicate time and effort to more creative tasks, than routine data feeding into business support systems.
Simply robotic process automation alone is no longer sufficient. Training robots effectively, with the help of data mining, its subsequent processing and machine learning, opens up the possibility to automate the processes once deemed to be the domain of exclusively human capabilities. Secondly, adaptability is crucial for today’s market leaders, as the circumstances change very quickly and consequently so must the guidelines. We have already witnessed it during the last year’s COVID-induced crisis, when most companies were pushed to speed up their digital transformation. According to our recent survey among the energy and utility industry professionals, 73,1% of businesses had to rapidly change their operations in 2020. It can be achieved by making automation more intelligent, ready to accommodate changes and handle unstructured data. Though an investment at first, in the end, it reduces operational costs.
In each industry, however, hyperautomation is utilized best in different parts of the process. For gaming, in particular, there are four biggest points for its application.
Customer Lifetime Value (CLV) Prediction
Both mobile game developers and online casino managers use superior application analytic capabilities to predict customer lifetime value. Application analytics is the process of data collection, its analysis in real time and common application usage patterns report. This way high spenders can be identified, while people who are less likely to engage with the product are left out. With hyperautomation, this process can be initiated and performed automatically, with subsequent generation of the report and advice on which potential customers can be targeted with what technique.
Consequently, marketing managers can make faster informed decisions, and advertising costs will be allocated more effectively and bring greater value.
Related: How MaxBill Uses Machine Learning (ML) to Help Predict Customer Churn
Fraud Detection
Machine learning can help identify a wide array of fraudulent actions, including account or identity theft, account farming, money laundering, etc. Some online platforms use artificial intelligence to make sure of the legitimacy of their customers, by analyzing multiple sources (for example, their profiles on social media). Hyperautomation utilizes both technologies, allowing the system to perform crucial security actions quickly: cutting off illegitimate users, blocking unreliable accounts, flagging suspicious activity, etc. Removing the need for human involvement in such cases saves valuable time. All actions are then reviewed by the account managers and security professionals to avoid any mistakes, and further procedures are set in motion.
Hyperautomation can also be a great tool to fight invoice fraud. The system can be trained to detect anomalies or inconsistencies in the incoming documentation, block the associated transactions and alert security managers.
Complex Calculations and Documentation Processing
Gaming companies often suffer from inadequate contract handling and low transparency of reconciliation processes. By applying rule-based automation to billing, settlements, quotes, reports, invoices, etc., can be calculated and generated without the risk of human-made mistakes. Additionally, the time frame for such documents’ production will be reduced drastically. The process can be fully streamlined: with help of trained on a multitude of data AI, the system can process incoming unstructured information, pinpoint the contracts it belongs to, calculate the monthly revenue according to contract, compile invoices and distribute it to relevant contacts.
Revenue forecasting based on the previous calculations will open new business opportunities and strengthen the existing partnerships through providing better transparency, setting up clear milestones for the relationships and managing expectations. With help of hyperautomation, new offers or even changes to workflows can be set up right away based on such predictions, requiring human involvement only for confirmation.
Customer Experience Enhancement
Customer satisfaction drives profit. With the market being oversaturated, customers become more demanding and critical about the service. Hyperautomation is a solution to improving many different areas that constitute customer experience.
Multichannel communication benefits greatly from the AI-powered chatbot that keeps track of the conversations with the same person via a variety of messengers. It creates a personalized feel and also reduces the time needed for identity information input. During the next steps, many of the usual customer support requests can be satisfied without human involvement. Others can be transferred to the professional that can deal with them, accompanied by the relevant data about the particular customer so that a human employee can make more data-driven decisions. The procedure of new customers’ onboarding should be mentioned separately, as it is vital for the customers’ engagement. Hyperautomation can be used successfully for extracting the needed data from a variety of sources, processing it to build a profile, verifying it against the relevant data and then compiling and sending a welcome package.
In-game experiences are another great area of cutting-edge technology application. AI and ML are already used to create harder to defeat opponents for eSports players. It makes the game more engaging for those viewing gaming as a hobby and works as a valuable exercise for professionals. The latter can benefit from hyperautomation technology that intelligently creates the training program for the player to follow in order to develop their skills faster, or according to the particular tournament’s requirements. The system gets in-game stats in real time, analyzes them, and tunes the opponent characteristics to better fit the player and their end goal.
What’s Next for Gaming
Last year was a big one for gaming, both in terms of growth and transformation. eSports got on the same level with professional sports like NFL, casinos and betting shifted largely online due to lockdown, gaming providers established contracts with OTT providers and industry revenue amounted to $174.9 billion, 91% of which was made through digital sales. This year will be even better according to Newzoo’s report, attracting more customers, investors and revenue.
Hyperautomation is projected to play a big role in industry development. Systems that connect multiple technologies including RPA, ML, AI, IDP, etc. to evolve by themselves, implementing the additional automation without the need of human input, learn ten thousand times faster without missing it on the next iteration. This creates the opportunity for humans to make more beneficial data-driven decisions, as they are served with the more relevant data and have more time for creativity.
It will also help enhance customer experiences, securing and expanding the customer base for gaming companies, and providing the needed technology for the creation of new service offers. Issues like data security, user protection and fraud prevention and lengthy billing cycles also have to be addressed with help of new methods.
To fully take advantage of the hyperautomation potential companies have to be thoroughly educated about it. Executive management has to make an informed choice of the most relevant points of application for this technology and vendors that offer it as part of their services.
That is exactly the reason why MaxBill will focus on it in more detail in our 2021 Technological Report. So stay tuned and be the first one to get valuable insights by following our blog.
