Aliens aren’t coming but business bots are already here! A wide range of special\npurpose intelligent business bots are revolutionizing the way products and\nservices are designed, delivered and\nconsumed.\nI am not talking about simplistic chat bots. These are intelligent action\nbots.\nThey will replace several processes, workflows and interfaces in a massive\nenterprise transformation that is taking place now.
\nThese business bots will splinter business processes into nano-organizational\nunits and transform both external touch points and internal operational nodes.\nBusiness bots will be the new intangible assets owned and reported by businesses\nin future. Harvesting and integrating the value derived from these intelligent\nassets will become crucial for business success.
\nRising customer expectations, changing business models, shrinking business value\nalong with disjointed systems and processes have created a perfect breeding\nground for business bots. This disruptive environmental influence coupled with\nadvances in AI technologies like\nNLP,\nDL and\nML\nhave created intelligent business bots that are set to invade every bastion of\nenterprise technology ecosphere.
\nFor most enterprises, technology has become more complex than their own\nbusinesses. What has brought in efficiency over the last few decades has also\ncreated enormous complexity.
\n\n\nEnterprise technology has turned into an unmanageable T-Rex drugged with opium\nand chained with duct tape.
\n
This behemoth is now too humongous to maintain and too stoned to respond to\nsweeping changes in market conditions. Now all that is about to change with\nintelligent business bots. They are born at the fulcrum of three distinct\nupshots.
\nThe value stagflation of many large enterprises can be collared easily with the\nhelp of business bots. They will strip enterprises from labyrinthine structures\nand make them revolve around customers, an indispensable precondition to\nreviving businesses. Business bots drive down cost-to-serve, dis-intermediate\ncustomer interactions and unshackle business processes. No wonder, the array of\nprocesses that can be ‘botized’ is increasing on a daily basis. Working\nclosely with a few large enterprises that have taken lead in adopting\nintelligent business bots, I foresee that business bots will be the next big\nrevolution in enterprise tech.
\nSoon, enterprises will be able to subscribe to these business bots online just\nlike the way you subscribe to Netflix and watch movies. You would be able to\nbrowse many a Botflix and subscribe to a choice of bots for as low as 100\ndollars a month or on a Pay Per Action (PPA) model.
\nLet us look at the emerging innovations, their impact and potential challenges.
\nIntelligent business bots differ fundamentally from regular enterprise software\nor apps on several fronts. Business bots are lean and mean. They are built for\nspecific purposes with clear capabilities. They have the conversational\ncapability that is invokable on need or at will. They also learn and evolve over\ntime. They are contextual and proficient with customer emotion.
\n\n\nThey are profound force multipliers. They work standalone or in tandem with\nother bots. They can be easily retired, replaced or revived.
\n
All this is enormously powerful for enterprises. The bots will operationalize\nyour organizational strategy. They will crunch massive customer data points in\nreal time, orchestrate tasks, create workflows and take instant action. Driven\nby powerful algorithms, they will also take operational decisions based on\nbusiness rules and contextual intelligence while proactively monitoring risk.\nTons of real-time data will be thrown at these bots to learn at speed of light,\nusing which they would predict trends and forecast outcomes. While at the same\ntime, they will also anticipate user actions, be responsive, warm and inviting\nlike a charming friend who cares about you.
\nCustomer facing bots will address queries, resolve issues, perform tasks and\neven recommend right\nproducts.\nLike a trusted adviser, they will suggest loans, stocks, books, gadgets and\nappliances based on contextual need and help customers buy the right products\nand services. Offer Bots will provide location specific offers when\ncustomers enter a mall. Lead Gen bots will generate leads and identify sales\nopportunities. Pricing Bots **will constantly monitor marketplace movements\nand tune your pricing. **Market Bots will provide insights into competitive\nstrategies. Campaign Bots will schedule, organize, deliver and monitor your\ncampaigns. Risk and Compliance Bots will roam your processes freely and foil\nany dissonance. Where required they will alert human decision makers to swing\ninto action. Onboarding Bots shorten cycle times to bring people onboard while\nEmployee EngagementBots\nwork hard to make them tick and stick.
\nClearly, business bots will invade every strategic and tactical realm in an\nenterprise. They will create new business models and infuse new growth curves\ninto businesses.
\nThough most bots are built for specific purposes, they need to be premeditated\nto interconnect with an array of other bots within and outside an enterprise.\nThey need to be designed ground up, to feed off each other and grow. For\nexample, the interdependence of Hiring Bots, Onboarding Bots, Employee\nEngagement Bots and Training Bots need not be underscored separately. So are\nSales Bots, Marketing Bots, Advertising Bots and Customer Service Bots —\ninterlocking them with each other seamlessly becomes critical for their success.\nThey need to be in sync in real time with one another to be able to understand\ncustomer behavior and ensure that products and services are in tune with the\nmarket expectations.
\nNeurotransmitters that trigger these Cluster Bots are the cross-functional data\nstreams. Once sparked, these Cluster Bots work their magic through various\norchestration protocols. They also will be able to interact with devices across\nthe IOT spectrum. Patient Care Bots could fill out the required medical forms\nbefore the ambulance reaches the hospital.
\nMatryoshka Bots
\nApart from Cluster Bots, some business bots are designed to nestle inside one\nanother just like Matryoshka dolls where one figurine is nestled in another.\nProcurement Bots, Logistics Bots, Distribution bots are classic nestled bots.\nBut they also have the ability to operate independently. Similarly Inventory\nBots, Order Processing Bots and Shipping Bots are also stackable in one another.\nNew architectures for bot services will emerge outlining the power laws of bots.
\n\n\nConnecting tissue of these bots is the strata of content, data and services that\ntrickle up or down while continuously analyzing and responding to new behavior\npatterns.
\n
There will also be Instant Bots that are automatically created on-demand with\nthe help of powerful new APIs across service and process chains. These\non-the-fly event-based Instant Bots trigger new workflows stitching together an\nexisting set of workflows based on context and situation.
\nThough you won’t have to wade through monolithic applications or roam around app\ngraveyards in future, you will have a swarm of bots to track and monitor.\nEnterprise wide Bot Control Centers will come into existence to help in\nmonitoring, scheduling and running of these bots. You can switch these bots on\nand off just like you control lights in a building. Along with human teams,\nthere will also be Regulator Bots that manage orchestration and choreography of\nthese bots at scale.
\nBut as usual, the scene at many enterprises seems pretty familiar. Core business\nteams and business enabler teams are excited as they know they need new arsenal\nto deliver better value with shrinking resources. CXOs too are receptive as they\ncan clearly see the shrinking growth and value trajectories but are ill advised\nby their coteries. Of course, finance teams are clueless. Ironically the IT\nteams are the most impervious to respond to a revolution that is set to rock\ntheir own realm. They falsely assume that this phenomenon will put the existing\ntechnology backbone at risk. Their deep-rooted resistance stems from the fact\nthey are not yet armed with new enterprise wide bot architectures or skillsets\nrequired to lead this innovation. All this results in a Fragmented Reality.
\n\n\nFragmented Reality is a phenomenon that occurs when various stakeholders in a\ngiven context construct themselves a comfortable sheath of reality insulating\nthemselves from the impending changes on the horizon.
\n
Each functional sheath is built on a muscle memory of pre-conceived notions,\nresistance to change, FUD factors, and territorial fiefdoms. There usually are\nseveral such sheaths in an enterprise. Every sheath projects an appearance of\nalignment with the rest of the sheaths in the organization. They collectively\nerect one imaginary field that I call Fragmented Reality. This terrifying\nconundrum barricades an organization’s ability to change, which in turn leads to\npotentially dangerous innovation stagnation.
\nHere are a few typical action plans that organizations generate when obscured by\nFragmented Reality.
\nHow do you shatter the Fragmented Reality lens and plot the trail of business\nbots in your organization?
\nFeatured CBM: Seven Business Models that Bot Makers Will Have the Opportunity\nto Leverage &\nRedefine
\nIncreasing your competitive edge is the true promise of business bots. To build\nenterprise grade, mission critical, highly distributed bots, you don’t need to\nrestructure your core functions or rejig your organization. No need to rewrite\nmillions of lines of code. You don’t even need to dole out multi-million dollar\ndeals to system integrators who still palm off their rusted ADM and allied\nservices in the name of “digital transformation.”
\nHere is a quick step-by-step guide to chart the ‘botization’ flight path and\nreap the full potential of this innovation.
\nFeatured CBM: Why You Should Start an AI Company\nToday
\nBusiness bots are best leveraged with a single platform focus for\ninteroperability and reliability. You need not follow the traditional IT\napproach where multiple system integrators provide disparate systems that are\nnot flexible enough to create a unified value. Avoid the temptation for\nmulti-year road maps that never live beyond the first two quarters.
\n\n\nCircumvent the impulse to force-fit obsolescent software development processes\nand mediaeval procurement procedures to adopt business bots.
\n
Like any major inflective innovation, ‘botization of enterprises’ also needs\nto be driven at the highest echelons. And then small ‘networked teams’ with open\ncommunication channels could propel and monitor the efforts. The networked teams\nwith open feedback loops, iterative methods and empowered decision making will\nbe your blueprint to rewire the organizational mindset. Else, the surging\n**‘botomation’ **wave will surely wash ashore some radioactive enterprise\ndebris.
\nFinally, dystopian enterprise technology landscape is looking like a sci-fi\nflick from the future. With the blistering pace of new technologies, you can\neasily imagine a bank or a telecom in future entirely driven by software bots\nwith absolutely no humans.
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