CAMBRIDGE, Mass., April 13, 2021 /PRNewswire/ -- Pegasystems
Inc. (NASDAQ: PEGA), the software company that crushes business
complexity, today announced Pega Process AI – a new set of Pega
Platform™ capabilities that help organizations optimize their
business and customer operations in real time. By infusing
self-optimizing AI and decision management into its low-code
process automation software, Pega offers the only solution that can
intelligently triage millions of incoming customer requests,
transactions, and other events at enterprise scale. This enables
fast and effective event resolutions while helping to lower
operating costs and simplify employee and customer experiences.
As digital expectations continue to skyrocket, organizations are
turning to process automation to more efficiently assist their
employees and customers. But most automation solutions are too slow
and rigid to meet the dynamic needs of the enterprise and even lack
basic business rules capabilities. While some automation offerings
have been enhanced with AI, they still can't scale enough to
analyze the massive streams of data signals being emitted from
customers that can help organizations make smarter decisions.
Process AI turbocharges the value of process automation by
applying powerful and proven real-time AI, event stream processing,
machine learning, decisioning, and natural language processing
(NLP) to any business process. These capabilities analyze millions
of streaming events and immediately make intelligent decisions so
each case gets quickly resolved. Using hundreds of self-learning
models, Process AI also streamlines inefficient processes on the
fly to better optimize business outcomes. This enables enterprises
to more effectively and efficiently resolve events – and even
anticipate issues before they arise – so they deliver the best
possible customer and employee experiences.
For example, an insurance company can use Process AI to triage a
surge of incoming claim requests after a major storm by
automatically approving claims or routing more complex incidents to
the best available agent; a financial services company can scan
fraud alerts in real time and automatically open a case for a
relevant security expert to investigate; or a manufacturer can
analyze IOT-connected device signals and, if it predicts trouble on
the horizon, proactively open a service ticket and notify a dealer
and end customer to the potential issue.
With Process AI, organizations can optimize and simplify their
back-end processes to realize the following benefits:
- Deliver more effective service at scale – Process
AI analyzes thousands of events per second with advanced event
processing and real-time decisioning to determine which requests
can be automatically processed and which need human assistance to
resolve. If it identifies a particularly complex issue, the
software will open a case, populate it with the available
information, and intelligently route it to the most relevant expert
to resolve it. This helps organizations quickly and
accurately make the right servicing decisions that result in
optimal customer outcomes – even during high-volume service times
for the largest and most complex companies.
- Increase process efficiency on the fly – As the system
processes more events, it uses predictive analytics and machine
learning to monitor case outcomes and uncover new ways to improve
the process. Those learnings are applied on the fly so the process
works more efficiently the next time a similar case arises, saving
the organization valuable time and resources. Over time, the
system continues to dynamically fine tune its processes as
conditions change, resulting in even more efficiencies while
adapting to new variables.
- Make it easy to create and modify process AI models
– Process AI provides a low-code machine learning
authoring interface that simplifies how process AI models are
developed and managed over their lifecycle. Users can easily update
their models as changes are needed over time. Model reports allow
users to monitor the model's health and performance. Optimized for
cross-functional fusion teams, the functionality can be customized
for different user personas, enabling better collaboration between
IT, data scientists, and business users.
As with all Pega AI capabilities, Process AI adheres to the
tenets of Responsible AI. This helps ensure algorithms result in
fair and balanced outcomes that avoid unintended bias. Pega gives
users more control over their AI by providing transparency
settings to help companies mitigate potential risks and
maintain regulatory compliance. In addition, it provides robust
self-learning capabilities that can handle outlier events when
exposed to real-world circumstances.
Process AI is part of Pega Platform, a unified and open platform
providing a seamless Center-out™ method for connecting operational
processes with customer experiences. Using case management as the
foundation, organizations are able to create applications fast with
Pega's low-code approach, empowering developers regardless of their
skill level. With Pega Platform, users can achieve end-to-end
automation with an enterprise-grade, low-code business
automation platform that gets work done, makes better
decisions, and ultimately reduces cost, complexity, and
uncertainty.
Availability:
Process AI will be available for
purchase as an add on for Pega Platform clients by the end of Q2
2021 as part of the Pega Infinity 8.6 product release. For more
information on Process AI, attend the annual PegaWorld iNspire
virtual summit on May 4 at 9
a.m. EDT at www.pegaworld.com or visit
www.pega.com/technology/process-ai.
Quotes & Commentary:
"Slick user interfaces
quickly lose their luster with customers if the back-end processes
driving the actual work are too slow and inefficient to deliver on
brand promises," said Don Schuerman,
CTO and vice president of product marketing, Pegasystems.
"Pega Process AI combines two of Pega's most advanced solutions –
AI and intelligent automation – to help ensure promises made at the
front end are promises kept at the back end. By infusing AI into
our deep expertise with case management and process automation, we
help clients more efficiently and effectively serve their customers
and assist their employees."
Supporting Resources:
- Product background: Pega Process AI
- Product background: Pega Platform
- eBook: Getting Value from Case Management
- Research: An Enterprise View of Intelligent Automation
About Pega
Pega delivers innovative software that
crushes business complexity so our clients can make better
decisions and get work done. We help the world's leading brands
solve their biggest business challenges: maximizing customer
lifetime value, streamlining customer service, and boosting
operational efficiency. Pega technology is powered by real-time AI
and intelligent automation, while our scalable architecture and
low-code platform help enterprises adapt to rapid change and
transform for tomorrow. For more information on Pegasystems
(NASDAQ:PEGA), visit www.pega.com.
Press Contact:
Sean
Audet
Pegasystems
sean.audet@pega.com
Twitter: @pega
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SOURCE Pegasystems Inc.