Riding a Wave of Business Process Automation

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Riding a Wave of Business Process Automation

In 2020, we find ourselves at the revolutionary convergence of myriad diverse trends creating once-in-a-lifetime threats and opportunities that few people fully appreciate. Whether we are talking about

  • deglobalization,
  • a looming Sino-American Cold War,
  • the North American Energy Revolution,
  • restrictions on immigration,
  • the rise of new business models,
  • pervasively low-interest rates,
  • or a range of other factors

the competitive challenges facing business are evolving rapidly.  At the same time, the advance of

  • Moore’s Law,
  • photonics,
  • Artificial Intelligence,
  • quantum computing,
  • robotics,
  • biotech, and
  • nanotech

have made solutions possible that few could have imagined until recently.  And if this was not difficult enough, this extraordinary moment in history has suddenly been impacted by the "black swan" of COVID19.

As a result, businesses are being forced to deliver unprecedented solutions in a world where supply chains, sources of talent, costs of capital, and incentive systems have suddenly been scrambled.  As a result, it’s the perfect time for pioneers to create new business processes optimized for the information revolution.

At Trends, it’s long been our position that advanced technology, deglobalization and a restricted pool of domestic labor could create a quality of life revolution for American workers, consumers, investors, and entrepreneurs, without unduly harming our allies.  And, rather than taking years to “ramp up,” this revolution has been suddenly galvanized by the COVID19 shock that gives businesses the impetus to tear-down and rebuilds existing processes.

Consider a few examples.

In April, Takeda, a pharmaceutical company, began recruiting patients for a clinical trial of a promising Covid-19 treatment involving antibodies drawn from the blood of recovered patients.  It normally takes several weeks to collect people’s information, determine who may be suitable for the trial, and get the paperwork in order.

With the coronavirus still spreading, Takeda sped things up using a quick and simple trick.  They used software to record tasks like opening files, selecting input fields and cutting-and-pasting text. Those tasks could then be repeated for each prospective patient. As a result, the paperwork got done in days instead of weeks.

Using software from a company called UiPath Takeda had started testing this approach, known as robotic process automation, or RPA, several months before the pandemic began, Kyle Cousin, head of Takeda’s digital services was the person in charge of the effort...

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