Unlocking the True Potential of AI with Automation: UiPath Reveals Expanded Generative AI and Specialized AI Offerings
UiPath Press Release
June 27, 2023
New capabilities enable organizations to unleash AI-powered automation to targeted business challenges
New York, NY & London, June 27, 2023 – UiPath (NYSE: PATH), a leading enterprise automation software company, today announced its latest AI-powered automation features that accelerate customers’ ability to discover, automate, and operate automations at scale through Generative AI and Specialized AI.
According to a recent report by McKinsey on the economic impact of Generative AI, automation potential has accelerated and Generative AI has increased the total percentage of hours that could theoretically be automated by integrating technologies that exist today from about 50 percent to 60–70 percent. The UiPath Business Automation Platform is adding more AI offerings with Generative AI, including the general availability of OpenAI and Azure OpenAI connectors with support for GPT-4. UiPath customers are already using the OpenAI connector to extend automation deeper into business operations and turn data into actionable insights.
Aaron Phillips, Manager of Intelligent Automation at Reveal Group, said:
“Using the UiPath OpenAI connector, we can leverage GPT models to prewrite responses to customer inquiries, or for summarizing and distilling longer documents into key points. This is an asset when faced with character limits or size constraints.”
UiPath has been working on AI for many years. Its Specialized AI solutions include over 70 models that enable customers to understand screens, mine tasks, process documents, and utilize unique and proprietary data sets within enterprise workflows. Specialized AI can be securely trained with a customer’s data and optimized for its specific needs, resulting in fast, accurate, and tailored solutions that are cost-effective to operate and that deliver high value outcomes.
UiPath is continuing to make significant advancements in Specialized AI, refining its industry-leading solutions such as Document Understanding and Communications Mining by incorporating GPT-based technologies. Communications Mining is using GPT to generate suggestions for labels, which speeds up the model training process to allow for faster deployment and faster time-to-value. Similarly, GPT is being used in Document Understanding to improve classification and pre-labeling.
Graham Sheldon, Chief Product Officer at UiPath, said:
“AI technologies are at the core of the UiPath Business Automation Platform, and we are excited to extend the capabilities of our enterprise automation with new Generative AI and Specialized AI offerings. UiPath is uniquely able to combine our understanding of screens, documents, tasks, and processes with the intelligence of Generalized AI to watch work happen, understand what is being done, and automate it in our platform. Only when AI is combined with enterprise automation, to provide context and take appropriate action, will companies realize the complete value.”
In addition to these new features, UiPath has also announced the preview availability of Clipboard AI for finance teams. Clipboard AI is an offering that uses UiPath AI Computer Vision and Generative AI to easily transfer data between documents, spreadsheets, and apps, understand the content, and automatically insert the data in the right places. The preview for finance teams is designed to help them effectively and efficiently manage invoicing across numerous finance platforms.
UiPath announced the features during Europe’s largest automation and AI conference, TOGETHER London. The event is taking place today at the Intercontinental O2 in London with 600 automation professionals gathering for a full day of sessions showcasing how AI-powered automation delivers cost transformation, profitable growth, and increased customer and employee engagement across the enterprise. Customers such as British Airways, Takeda Pharmaceuticals, Flutter UKI, NatWest Group and IAG Tech are presenting on how AI-powered automation is helping their companies grow and create better customer and employee experiences.
UiPath (NYSE: PATH) is on a mission to uplevel knowledge work so more people can work more creatively, collaboratively, and strategically. The AI-powered UiPath Business Automation Platform combines the leading robotic process automation (RPA) solution with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time-to-value. For organizations that need to evolve to survive and thrive through increasingly changing times, UiPath is The Foundation of Innovation™.
August 29, 2023
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