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AUSTIN, Texas, May 29, 2019 (GLOBE NEWSWIRE) -- CognitiveScale Inc., an Enterprise AI software pioneer, today announced it has joined the Blue Prism (AIM: PRSM) Technology Alliance Program (TAP). This alliance between CognitiveScale and Blue Prism will bring the power of open, scalable and trusted AI into RPA, driving Intelligent Process Automation (IPA) forward.
The IPA market is estimated to be worth USD 13.75 billion by 2023, largely fueled by the demand for automated systems that serve dynamic customer requirements, need for optimized resource utilization and enhanced decision-making, and increased investments for digital transformation of organizations. The business process automation segment is expected to grow at the highest CAGR during the forecast period.
As part of the collaboration, CognitiveScale’s Amplify AI product suite will be available on Blue Prism’s Digital Exchange (DX) platform starting with the ‘Process Insights Agent.’ The Process Insights Agent automatically and transparently extracts, interprets, and unlocks knowledge and predictions in complex documents and business processes scaling human expertise and boosting productivity for core processes such as compliance, claims, underwriting, asset management, and digital procurement. Critical AI capabilities added within a Blue Prism Digital Worker as a result of the collaboration include named entity extraction, temporal topic modeling, optical character recognition, text extraction, document classification, explainability, and automated learning.
CognitiveScale will soon add its Engage AI product suite including the ‘Customer 360 Agent,’ which provides AI powered hyper-personalization and engagement, to Blue Prism’s DX. The Customer 360 Agent helps businesses bring together both transactional and experience data including multi-structured content like text, images, audio, and video to generate a unique profile of one. This unique profile of one can then be used to power hyper-personalized experiences, predictions, and offers with evidence to build user trust. The Customer 360 Agent can be built on top of most enterprise CRM, commerce, and transactional systems using a built-in library of 122 adapters and connectors and can be deployed on mobile devices, chat services, and IoT devices, with support for rich message formatting and API connectivity.
Blue Prism assets will also be available on CognitiveScale’s Cortex Marketplace, creating a larger ecosystem for enterprises seeking to achieve IPA to improve efficiencies and reduce costs.
“A few years ago, I brought CognitiveScale and Blue Prism together in the course of work we were doing adding Artificial Intelligence to our payables automation program. AI plus RPA delivers true Intelligent Automation needed for complex processes. CognitiveScale and Blue Prism are long term key partners in our Intelligent Automation program as we are digitizing work, freeing up our teams to do much higher value work,” added Lee Coulter, CEO of Ascension Shared Services.
"Despite offering the technical capability and the real advantage of breathing life into legacy systems and processes, standalone RPA hasn’t inspired enterprises to rewire their business processes – it’s really just helped them move data around the company faster and require less manual intervention. Our extensive research shows that business problems are not effectively solved by one stand-alone technology but by a combination of technologies, which is why a smart integration of RPA and AI is crucial for many of today's static RPA deployments to become part of a transformation journey. With Blue Prism's wealth of true, unattended RPA experience and CognitiveScale's exciting cognitive platform and process accelerators, we have a foundation for self-learning digital worker capability that adapts to enterprise needs and supports the evolution of digital business models," said Phil Fersht, CEO and Chief Analyst, HFS Research.
CognitiveScale and Blue Prism spokespersons quotes:
“Enterprises can unlock tremendous value from their RPA investments with AI,” said Akshay Sabhikhi, CEO of CognitiveScale. “This partnership will enable CognitiveScale and Blue Prism to bring IPA to life by revolutionizing customer engagement and enabling smarter, more efficient business processes.”
Talking about the collaboration, Linda Dotts, SVP Global Partner Strategy and Programs for Blue Prism, said, “RPA has evolved to become a key component in building out broader AI capabilities. We are heavily focused on solutions that will empower the digital workers to scale, learn and be more productive. This partnership is a step in that direction.”
CognitiveScale’s Cortex is the world’s first open enterprise AI software that radically simplifies design, development, delivery, and control of trusted and transparent AI systems. To help identify and mitigate ethical biases in AI engines, Cortex is built on the five pillars of Trusted AI: Data Ownership and Rights; Explainability; Fairness; Robustness; and Industry compliance.
Blue Prism’s connected-RPA platform gives enterprises a game changing way of staying competitive and accelerating time to market for new services and products by easily accessing and exploiting leading-edge cloud, AI and cognitive capabilities.
About Blue Prism
In this digital era where start-ups are constantly disrupting markets, only the most agile and innovative enterprises survive and thrive. At Blue Prism, we pioneered Robotic Process Automation (RPA), emerging as the trusted and secure intelligent automation choice for the Fortune 500 and public-sector market. Now we bring you connected-RPA supported by the Digital Exchange (DX) app store—marrying internal entrepreneurship with the power of crowdsourced innovation.
Blue Prism’s connected-RPA can automate and perform mission critical processes, allowing your people the freedom to focus on more creative, meaningful work. More than 1,300 global customers leverage Blue Prism’s digital workforce, empowering their people to automate billions of transactions while returning hundreds of millions of hours of work back to the business. Visit www.blueprism.com to learn more about Blue Prism (AIM: PRSM).
CognitiveScale is an Enterprise AI software pioneer that pairs humans and machines to bring practical, scalable, trusted AI solutions to life. NBC Universal, Dell, Jackson and Anthem are among the top global innovators that trust CognitiveScale to transform customer engagement and optimize business processes using AI.
CognitiveScale’s award-winning and proven Cortex software and expert teams empower financial services, digital commerce and healthcare organizations to radically simplify the development, deployment and management of their AI systems. Cortex is available on public, private, hybrid, and multi-cloud environments.
CognitiveScale implements the Cognitive Agent Modeling and Execution Language (CAMEL) which defines an open, language, and platform-agnostic specification for programming cognitive agents. Enterprises can leverage CAMEL AI to create AI agents, skills, models and datasets to avoid vendor lock-in.
CognitiveScale is #1 in AI patents among privately held companies and #4 overall since 2013. The company is headquartered in Austin, Texas, and has offices in New York, London and Hyderabad. Investors include Norwest Venture Partners, Intel Capital, IBM Watson, M12 (Microsoft Ventures), and USAA. CognitiveScale is recognized by the World Economic Forum as well as top industry analysts for positively impacting business and society with AI.
Follow CognitiveScale on Twitter @cognitivescale and on LinkedIn.
Blast PR on behalf of CognitiveScale