Head of the Robotic Centre of Excellence discusses CX robots

EPISODE OVERVIEW:

In this podcast, Anders Emil Balk, Head of the Robotic Centre of Excellence at Dankse Bank answers two questions that have been on everybody’s minds surrounding the topic of robotics and AI; should you single or multi-source, mix and match vendors? And what about the impact on your employees? Will robots replace the human, and if so, how do they react?

Have you ever wondered how robots could affect your business in banking? Anders shares his insights into the integral relationship he has with his IT department when implementing robotics and explains how RPA can increase efficiencies and decrease costs, as long as you’re using the right vendor for the right application.

It has been reported that since the introduction of robots in the back office of the retail banking world, costs have been reduced by as much as 80% and accuracy has increased by up to 100%.

As Rahul Dabke explained; “RPA allows for efficient, repeated processes and data collection, [whereas] AI can interpret that data and change behaviour as a result. In banking, these systems can help with reviewing financial documents and cut down on human error.”

As reported by The Asian Banker  that Dankse Bank have said that they are using RPA to “automate current tasks as if a real person were doing them across applications and systems,” The results include a 45% increase in ability of employees focus on customers, [and] a 40% reduction of average process execution time and payback within three months after deployment.”

Anders believes that “If you don’t do something in Robotic space, you’re just going to get eaten up by the normal IT development practice. I want to work on two axes’: build even cheaper robots, which means finding cheap vendors, different kind of vendors and pursue that really long-tail processes or tasks… [we] look for different vendors who will then be best to solve whatever business problem we need to solve; all of them have different capabilities or tools in their tool box.”

However, Anders explains that the IT and Robotic departments at Dankse Bank always try to challenge each other and strive to keep each other honest; “IT challenges us to always automate the right things. [Although] IT could build this much better, it’ll cost you ten times and take four times as long.”

Anders’ asks if “automating is just simple tasks; why use expensive robotic licenses for something super simple? We can actually find smaller vendors that have more simple technology that makes it cheaper, so we can pursue smaller business cases.”

This podcast also delves into the reaction and responses from the employees, both positive and negative and how their usage of implementing robotics into their work process informs their opinion, and discusses whether the employee will be replaced, or repurposed with a different demand of skill sets. “Cognitive could reach resistance from employees - they might think they will lose their job, but the feedback has shown that employees prefer it as it gives them more time to work on other tasks and hiring for different positions.”

To find out more about robotics and how to navigate your way around the competitive vendor market, then listen to Anders Emil Balk speak on behalf of Dankse Bank’s Robotics Centre by listening to the podcast below: