finance

The global robo advisory market is expected to grow from $18.71 billion in 2021 to $28.10 billion in 2022 at a compound annual growth rate (CAGR) of 50.20%. The market is expected to reach $135.11 billion in 2026 at a CAGR of 48.08%, according to the report “Robo Advisory Global Market Report 2022” from ResearchAndMarkets.com.

Two years ago, Generali Group issued a new digital strategy in order to bring greater focus to their core business. The five pillars of this strategy are Agile, Innovation, Customer Relationship Management (CRM), Data Analytics and Artificial Intelligence (AI), and Smart Automation.

On June 14th a broad spectrum of aspects regarding automation will be highlighted at UiPath Together 2022. One of the industries which will be discussed on stage is Insurance, as sometimes unexpectedly innovative part of the sector Finance.  Rocking Robots discussed trends in insurance and automation with Elaine Mannix, Insurance Industry Expert at UiPath.

The Digital Finance Function Awards are back this summer, and will be held in person for the very first time. Hosted by GENCFO in partnership with ACCA and supported by Advanced, these awards recognise individuals and teams in the finance and accounting industry that deserve celebration.

Real-world confirmation of extensive penetration of machine learning into the FS sector seem to back up claims of significant ROI by automation vendors.

CFOs are right to look at RPA for bottom line reasons first—but practitioners speaking at last week’s CFO AX webinar on what’s on the digital transformation horizon for Finance teams revealed that automation is actually being influenced by a number of business and non-business factors.

Banking is a document intense industry. Documents that are not always based on the same format, but need to be handled quickly, such as corporate action notifications. JP Morgan wanted to automate the handling of these document. Enter: RPA and AI. During the AI Summit by UiPath, Frank Chen of JP Morgan explained how non-tech users build and trained the model handling these documents.

The automation of routine tasks is at the top of the agenda for Carsten Gram Andersen, CFO of Blue Ocean Robotics. The company markets the brands UVD Robots, GoBe Robots and PTR Robots, which open the door to automated disinfection, rehabilitation and telepresence. Blue Ocean Robotics is based in Denmark, the most digitalised country in Europe; more specifically, in the city of Odense, also known as the “European capital of robotics”. Carsten Gram Andersen sees his primary task as being able to free up as much time as possible to focus on business analysis of the company’s performance because that is where the finance department can really generate value for the rest of the organisation.

Greater efficiency, lower error rate when transferring data between different systems, and employees spared from completing tedious routine tasks. All examples of added value achieved since the end of 2019 by insurer HDI Austria with the help of robotic process automation (RPA) and the processes they automated. The company has achieved an automation rate of 92%, saving them around 600 person days over the last year and a half.

Manutan, the European leader in B to B e-commerce specialising in the distribution of equipment and supplies to companies and local authorities, has deployed a Robotic Process Automation solution in its Finance Department.