Business Process Management: The Shift Towards AI Automation
Top business process management (BPM) companies like Genpact, EXL, and WNS are undergoing strategic changes in their operations, driven by artificial intelligence-led automation. These organizations are investing in and deploying AI agents to facilitate end-to-end workflow automation, ultimately enhancing efficiency.
Genpact’s Strategic Transformation
As part of this evolution, Genpact is transitioning all existing operations into an agentic architecture. According to Sanjeev Vohra, Genpact’s Chief Technology and Innovation Officer, this strategic shift was initiated in mid-2024, supported by a comprehensive account-by-account plan, alongside training for the entire staff to adapt to new systems.
EXL’s Predictions for Job Changes
Meanwhile, EXL has voiced concerns about the future of employment in traditional roles, such as customer service and transaction processing. They project that 60-70% of these jobs may become obsolete as automation takes precedence.
WNS’s Value-Based Pricing Model
WNS is also adapting to these trends, moving away from labor-intensive, time-consuming, and material-based commercial models towards value-based pricing. This shift is largely driven by customer demands for improved profitability, efficiency, and measurable outcomes.
Diverse Use Cases for Agentic AI
The applications of agentic AI are broad and varied, encompassing fields such as customer service, order management in retail and e-commerce, accounts payable, insurance claims processing, underwriting, supply chain management, and various back-office and middle-office operations. BPM firms possess extensive expertise across multiple domains, giving them a competitive edge in implementing AI solutions effectively in enterprises.
The Role of Human Oversight
Despite the advances in automation, a human touch remains crucial in managing complex scenarios. However, industry executives anticipate that the reliance on human involvement will evolve and decline over time.
Efficiency Gains Through Automation
For example, Genpact has reported that invoice verification processes can be automated by up to 80%. The company has developed a suite of 20 AI agents to enhance various functions, such as IT helpdesk operations, which have seen a 50% increase in efficiency over the past year.
The Capabilities of Agentic AI
Executives emphasize that large language models serve as the “brains” behind agentic solutions, providing access to enterprise data and facilitating platform integration across departments. These AI systems exhibit reasoning capabilities rather than sticking rigidly to predefined procedures, allowing them to understand the context and requirements of specific tasks.
Enhancing Customer Service with AI
Agentic AI can foster more proactive and personalized customer interactions, enhance upselling strategies, and ultimately drive revenue growth, all while freeing human agents to tackle more complex issues. Routine tasks can increasingly be handled by autonomous agents.
Job Evolution in the BPM Industry
According to Gaurav Iyer from EXL, while jobs in traditional customer service roles are likely to decline by 60-70%, there is expected to be a growth of 100-120% in jobs focused on data and AI. This pivot necessitates significant reskilling within the industry.
WNS’s AI+HI Model
WNS is transforming its service offerings through a hybrid model known as “AI+HI” (Artificial Intelligence + Human Intelligence), as stated by Gautam Singh, global head of WNS Analytics. This innovative approach positions them to meet the evolving needs of their clients better.
Cost Dynamics Favoring AI Adoption
The decreasing cost of AI technology is expected to serve as a catalyst for increased adoption across industries. As businesses recognize the value of integrating AI within BPM services, clients are demanding that the cost benefits be passed on to them rather than treated as premium add-ons.
Industry Outlook: AI’s Role in BPM
In summary, the BPM sector is poised to undergo significant transformation as it embraces AI. The expectation is that AI will soon become a standard feature of BPM services, fundamentally altering traditional business models.
Conclusion
As AI technologies continue to advance, companies must strategically adapt to maintain competitiveness while addressing the evolving job landscape within the BPM industry. This transformation presents both challenges and opportunities for businesses and workers alike.
Questions and Answers
1. What are some key companies mentioned in the article that are advancing in BPM through AI?
Key companies include Genpact, EXL, and WNS, all of which are making significant strides in integrating AI into their business processes.
2. What is Genpact’s strategic initiative regarding AI?
Genpact is transitioning all its existing work into an agentic architecture and training its staff accordingly to support this shift.
3. How does EXL view the impact of AI on traditional jobs?
EXL predicts that 60-70% of jobs in traditional areas like customer service and transaction processing may be eliminated due to automation.
4. What technological capability underlies the agentic AI solutions?
Agentic AI solutions are powered by large language models that allow reasoning, context understanding, and inter-agent communication.
5. What model is WNS adopting for its services?
WNS is adopting an “AI+HI” model, which combines artificial intelligence with human intelligence to enhance its service offerings.
