As more and more organizations enjoy the many advantages of AI-powered decisioning, the question of when to join them becomes increasingly pressing. A recent study by Forrester Consulting valued customer return on InRule Decisioning at 421 percent. Certainly, automating human-directed decisions and actions is not to be undertaken lightly. While the use of AI will continue to grow, the questions of need and timing remain. When is the right time to automate? The following questions may reveal the answer:
Do decisions often require human intervention?
Automating decisions speeds processing and ensures consistent execution of human-set rules. When determinations are especially complex or unusual, no-code decisioning features robust exception handling. Rules authors can divert outlier applications to a subject matter expert at any stage for ultimate determination.
Is decision speed limiting growth?
If human decisions are a choke point for sales and productivity, decision automation may be the perfect remedy. Consumer pressure for faster response, not to mention the cost of lost opportunities make AI an increasingly attractive option.
Do decisions have legal or regulatory implications?
For insurance providers, healthcare organizations and government agencies, legal and regulatory compliance may be too vital a job not to automate. Automated decisioning platforms that offer features for explainability and transparency can fulfill all reporting and other required actions in every jurisdiction in which they operate.
How big a threat is fraud?
If losses due to fraud are affecting the bottom line, it may indeed be time to leverage the power of AI. While there is no magic bullet for all digital fraud, enhanced decisioning supported by machine learning predictions form the tightest net to flag and prevent fraud.
Have competitors started automating?
In business technology, as in life, the leader dictates the actions of everyone. Being the first organization in a given category to automate decisioning doesn’t guarantee success. However, it may just increase the odds greatly. While being the last to automate may in fact inhibit success and threaten long-term viability.
InRule was one of the first providers of no-code automated decisioning. Today, our comprehensive platform performs decisioning in mass for lenders, insurers, government agencies, pharmaceutical researchers and travel companies, among a growing and increasingly varied list of customers. Find out what our human-centered automation applications can do for you.