RPA – Robotic Process Automation, can be associated with a lot of jargon. An explanation of the common terms is below.
|Artificial Intelligence||Artificial Intelligence is referred as the ability of a system to use its cognitive intelligence to learn how to interpret unstructured content, use relationships and patterns to build a fuzzy structure around it, and then leverage this structure to respond in a similar form as the input itself.|
|BPM||Business Process Management tools are process optimisation solutions with process design, execution (through workflows and orchestration of different technology systems), and monitoring capabilities through the use of analytics.|
|BPO||Business Process Outsourcing refers to the purchase of one or more processes or functions from a company that is in the business of providing such services as a third party provider.|
|Chatbot||Software which uses NLP to interact in a conversational dialogue with a human|
|Cognitive automation||Cognitive automation refers to the ability of a system to learn how to interpret unstructured content, such as natural language, and use analytical capability to derive and presence inferences in a pre-defined /pre-structured fashion.|
|IDP||Intelligent Document Processing refers to the ability to understand the content elements of a document when the actual format is not pre-defined.|
|ML||Machine Learning refers to the software's ability to learn from its processing in order to incrementally improve the quality of the result|
|NLP||Natural Language Processing is a cognitive intelligence based methodology to interpret human languages|
|OCR||Optical Character Recognition - the ability to identify characters from an image|
|Offshoring||The transfer of activities that form part of a business process to be manually performed by labor in a different country|
|POC||Proof of concept is a set of activities to verify a technical solution as the potential to deliver the expected functionality|
|RDA||Robotic Desktop Automation|
|Smart RPA||The combination of RPA with other "Intelligent" capability to broaden processing capability beyond well defined inputs and well defined decision criteria|
Please contact us with any other RPA jargon that you think should be added to this table.