Advancing Intelligent Automation: Integrating Robotic Process Automation and Artificial Intelligence to Streamline Business Operations and Enhance Audit Processes

Abstract

Robotic Process Automation (RPA) and Artificial Intelligence (AI) is transforming business processes by automating routine work and optimizing decision making. RPA deals with automated production lines, otherwise known as rule-based processes, while AI, through machine learning, natural language processing, and cognitive automation enhances the outcome of each organization. RPA and AI integration are discussed in relation to the auditing profession here. Intelligent Process Automation (IPA) also contributes in auditing by increasing efficiency in fraud diagnosis, conformity evaluation, risky circumstances identification and improving procedures. IPA can now apply the advantage of AI to enhance complicated decision making processes hence enhancing the speed and accuracy of the audits. Real-life cases of pension and inventory audits reveal that IPA minimizes the amount of manual work, improves the accuracy of audits, and improves the general state of affairs concerning governance. However, issues like high technology and implementation along with integration to other systems, security issues, and the fact that there are specialized people needed to maintain these systems also pose serious barriers to their adoption. Further possibilities of using IPA in business processes to initiate digitalization processes and better decisions has been analyzed here. The current review focuses on further research opportunities which encompass using more sophisticated machine learning techniques in IPA operations as well as ongoing advancements in IPA technologies. In so doing, this paper adds knowledge to the IPA literature, highlighting the current and potential uses of IPA as well as its implications for business and auditing in the future.