Hyper Automation and its Applicability in Automation Finance
Pushpendra Singh, Rakesh Kumar Dixit, Rajesh Kumar Dhanaraj · 2024
The term “hyper automation” is quickly becoming one of the most frequently used expressions within the realm of information technology. It is possible that the introduction of the new technological phenomenon known as hyper automation will lead to intelligent automation processes. This can be achieved through the utilization of various technologies, including robotic process automation (RPA), artificial intelligence (AI), machine learning (ML), and others. These technologies may be instrumental in accomplishing this goal. Many big information technology companies and start-ups are investing significantly to take advantage of the potential benefits that hyperautomation may offer in the future. This is because hyper automation can be applied in a wide range of business contexts. This conceptual paper aims to provide an explanation of the vocabulary, concepts, technologies, and models associated with hyper automation. In order to achieve this objective, it is recommended to provide such an explanation. Additionally, the study focuses on the significant advantages that hyper automation provides, particularly in the banking and finance industry. This is one of the subjects being examined by researchers. Furthermore, the study presents a few instances of industrial test cases to explain the extent of hyper automation adoption observed in various countries worldwide.