AI at Work: New UiPath Business Automation Platform Features Transform the Enterprise

Rhea-AI Summary

UiPath (NYSE: PATH) announces 2023.10 platform release with Specialized AI and Generative AI, new developer tools, and UiPath Automation Cloud™ improvements. A recent report by UiPath and Bain & Co. highlights the importance of AI-driven automation, with 70% of respondents considering it 'very important' or 'critical' for their organization's strategic objectives.

Positive

• The 2023.10 platform release includes powerful new capabilities with Specialized AI and Generative AI, highlighting UiPath's commitment to innovation and staying ahead in the AI and automation space.
• The report by UiPath and Bain & Co. indicates a strong industry consensus on the importance and positive impact of AI-driven automation, with 74% of respondents expecting a positive return on investment from their automation endeavors.

Negative

• Some leaders and organizations are struggling to adopt AI across their enterprises, as indicated by the report from McKinsey, which states that almost half of organizations (45%) have no AI at scale.

2023.10 platform release includes powerful new capabilities with Specialized AI and Generative AI, new developer productivity tools, and UiPath Automation Cloud™ improvements

Register for the UiPath Platform Spotlight virtual event on Nov. 15 at 11:00 am EST for an in-depth look at new updates

NEW YORK--(BUSINESS WIRE)-- UiPath (NYSE: PATH), a leading enterprise automation software company, today announced its newest platform features that help customers gain real value by transforming millions of tasks and thousands of processes across the enterprise with AI and automation, creating capacity for new ideas and unleashing worker productivity.

A recent report by UiPath and Bain & Co. revealed AI is accelerating business change, with 70% of respondents asserting that AI-driven automation is either “very important” or “critical” in fulfilling their organization’s strategic objectives and 74% stating they anticipate a positive return on investment from their automation endeavors. Still, some leaders and organizations are struggling to adopt AI across their enterprises. According to a report from McKinsey, almost half of organizations (45%) have no AI at scale.

New innovations from UiPath lower the barrier between vision and reality for organizations by using AI to uncover automation opportunities, expand what can be automated, and make automation faster, easier, and more accessible to all.

Visit the UiPath blog for in-depth information about new platform updates.

Solving real-world business problems with AI at work

• UiPath Autopilot™ uses the combined power of Gen AI and Specialized AI to improve productivity for everyone. This release delivers previews for Autopilot for Studio, Apps, and Test Suite, offering solutions for both new and experienced developers and testers. New connectors for Gen AI add support for key ecosystems and models including OpenAI, Google Vertex AI, AWS Bedrock, and Meta.
• UiPath Document Understanding delivers an enhanced experience for building and monitoring. It also adds Gen AI extraction, classification, and model pre-labeling which accelerate model training by 80%.
• UiPath Communications Mining now uses a blend of Specialized AI and Gen AI to deliver answers to reporting and analytics queries faster for improved business insights.

The foundation of developer productivity

This platform update brings new tooling and testing muscle that developers need to turn AI insights into real world automations faster:

• The addition of coded automation enables automations completely written in code rather than using low-code activities.
• A new Solutions Management feature set simplifies installing, maintaining, and updating advanced automation projects with multiple components.
• Consistent VB expressions across UiPath Apps and UiPath Studio for more power and flexibility.

Better process insights and business outcomes

New features provide deeper insights into the workforce, processes, and automation—and how they function together:

• UiPath Process Mining delivers a new model-based process graph that accurately depicts real business processes, incorporating exclusive choices, looping, and parallelism. Data integration is now faster and simpler with a new inline editor that allows customized transformations in the browser.
• Advancements in UiPath Task Mining and Process Mining provide greater insight into both human workforce dynamics and the work of robots executing automated processes. This improves the ability to spot operational inefficiencies, compliance gaps, and opportunities for improvement in both manual and automated processes.

Enterprise-grade UiPath Automation Cloud™

UiPath Automation Cloud delivers an enterprise-grade foundation to run a mission-critical automation program at high scale with the simplicity of SaaS. New capabilities include:

• SAP Endorsed Certification shows how enterprises can deliver automation across the organization for critical ERP workflows.
• New unattended robot configuration, role/permission, and video diagnosis features.
• Automated domain join, bring your own image, and enhanced software updates for Automation Cloud Robots.

Visit here to register for the UiPath Platform Spotlight virtual event on Nov. 15 at 11:00 am EST for an in-depth look at these new updates.

About UiPath

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™.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108336928/en/

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Source: UiPath

FAQ

What new features were announced by UiPath (NYSE: PATH) in the 2023.10 platform release?

The 2023.10 platform release includes powerful new capabilities with Specialized AI and Generative AI, new developer productivity tools, and UiPath Automation Cloud™ improvements.

What percentage of respondents consider AI-driven automation 'very important' or 'critical' for their organization's strategic objectives according to the report by UiPath and Bain & Co.?

70% of respondents consider AI-driven automation 'very important' or 'critical' for their organization's strategic objectives according to the report by UiPath and Bain & Co.

What percentage of respondents expect a positive return on investment from their automation endeavors according to the report by UiPath and Bain & Co.?

74% of respondents expect a positive return on investment from their automation endeavors according to the report by UiPath and Bain & Co.

What percentage of organizations have no AI at scale according to the report from McKinsey?

Almost half of organizations (45%) have no AI at scale according to the report from McKinsey.