Pega Process AI Delivers Self-Optimizing Process Automation

Rhea-AI Summary

Pegasystems Inc. (NASDAQ: PEGA) announced the launch of Pega Process AI, a cutting-edge solution designed to enhance business and customer operations through real-time optimization. This software employs self-optimizing AI and decision management within its low-code process automation platform, enabling organizations to handle millions of incoming requests efficiently.

With capabilities such as advanced event processing and machine learning, Pega Process AI aims to streamline workflows, reduce operational costs, and elevate customer experiences. The product is set to be available for clients by the end of Q2 2021.

Positive

• Launch of Pega Process AI enhances real-time business optimization.
• Employs AI for efficient triage of millions of customer requests.
• Improves operational efficiency and reduces costs.
• Aligns with Responsible AI principles, promoting unbiased outcomes.

Negative

• None.

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 

All trademarks are the property of their respective owners.

 

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SOURCE Pegasystems Inc.

FAQ

What is Pega Process AI and when will it be available?

Pega Process AI is a new solution from Pegasystems that optimizes business and customer operations with real-time AI. It will be available for purchase by the end of Q2 2021.

How does Pega Process AI improve operational efficiency?

Pega Process AI utilizes advanced event processing and machine learning to analyze incoming requests, allowing organizations to streamline workflows and reduce operational costs.

What are the benefits of using Pega Process AI?

Benefits include faster and more effective service delivery, real-time decision-making, and the ability to handle millions of incoming requests efficiently.

What principles does Pega Process AI adhere to?

Pega Process AI adheres to Responsible AI principles, ensuring fair outcomes and minimizing unintended bias in its algorithms.