Hyperautomation: The Future of Business Process Outsourcing
By Randy Cairns
Clearly, the driving force behind Nvidia’s 3 trillion market valuation and the fact that every technology vendor has rebranded itself as an AI company is the belief that AI will disrupt every aspect of how we live, work, and play. While some of this is hype, we are starting to see the cascading impact of AI on multiple connected industries within an ecosystem
Today, we’ll focus on the impact of AI on the Business Process Outsourcing (BPO) market – long a mainstay of global business, and part of an interconnected web on how business gets done.
Challenges and Opportunities in the Evolving BPO Landscape
For decades, organizations have pursued the dream of digital transformation to automate, modernize, and compete in a fast-moving marketplace. This gave rise to specific software markets for automation, like Intelligent Document Processing (IDP), Optical Character Recognition (OCR), and Robotic Process Automation (RPA). These technologies – which are based on rigid, rules-based templates, are useful for predictable and repetitive tasks. However, they struggle to adapt to a fluid and constantly changing market, and new forms of unstructured content.
As a result, organizations have turned to Business Process Outsourcing to solve the challenges that IDP, OCR, and RPA cannot. In fact, this is why many analysts predict the BPO market will be over $500 billion by 2030 – exponentially larger than the IDP, OCR, and RPA markets combined. By applying a lower cost model and vast resources to every project, BPOs have proved effective at moving beyond rules-based tasks to help companies scale, grow, and achieve their desired business outcomes.
Enlightened BPOs Embrace Hyperautomation
Ultimately, BPOs continue to focus on the original premise of digital transformation to help their clients automate, modernize, lower costs, and reach their maximum potential. This is why the leading BPOs – and their close neighbor, Managed Service Providers (MSPs) – continue to test and try new software technologies and approaches to solve the age-old automation challenge.
These forward-thinking BPO’s recognize that AI and ML have opened up new possibilities to automate and orchestrate end-to-end processes across an organization. This trend towards hyperautomation is widespread. Hyperscience now conducts a large portion of its business through BPOs and MSPs. The company is actively collaborating with BPOs on numerous new opportunities across a range of industries, helping clients modernize and transform their business operations.
These innovative BPOs and MSPs are leveraging Hyperscience’s unique ML-architecture to deliver the benefits of hyperautomation to their clients. The Hyperscience Hypercell enterprise AI platform processes a wide range of documents flowing through the back office, ultimately transforming front office operations. This transformation leads to:
- Faster decision-making, actions, and revenue generation
- More positive and engaging experiences for customers, the public, and patients
- Significant increases in productivity
Future-proofing your business for the next wave of AI
Today, with the global economy’s pivot towards AI, organizations are under increasing pressure to embrace AI-driven initiatives that deliver real ROI and competitive advantage. The key to success in these initiatives lies in the quality of the data stack and the ability to leverage rich, contextual documents inside the enterprise. Hyperscience customers – and the BPOs that partner with us to serve them – have a distinct advantage.
By using Hyperscience to extract, classify, and label the structured and unstructured data inside their organization, Hyperscience clients are creating accurate data estates that can be used to power a wide range of enterprise GenAI experiences. Hyperscience is helping organizations (and the BPOs that serve them) take advantage of this opportunity with Hypercell for GenAI, a new solution that transforms complex documents into LLM and RAG-ready data, accurately, automatically, and continuously.
Hyperscience is partnering with Google Cloud and Hewlett Packard Enterprise to give customers flexibility to operate in the infrastructure and AI development platform of their choice. BPOs and their clients can use the solution to teach GenAI the language of the organization’s business – resulting in more relevant, accurate, and high-impact enterprise GenAI initiatives.
The Future of BPOs in the Next Wave of AI
As with any disruptive and transformative development, there are winners and losers. Savvy BPOs have much to gain by embracing hyperautomation technology, making them an indispensable partner in delivering the next wave of digital transformation and improved business operations for their clients. Hyperscience envisions a bright future collaborating with BPOs to drive significant business breakthroughs and revolutionize industry standards through hyperautomation initiatives.
If you are interested in learning more about the unique Hyperscience approach to AI-powered enterprise automation, watch our product webinar and demo or reach out to us at https://www.hyperscience.com/contact/.
