Automation is key to how businesses can work smarter, a new survey shows.

The report by Cognizant, a consultancy, reveals that process automation is fast becoming a tool for the banking, healthcare and insurance industries to become more efficient.

Nearly one-fifth of respondents achieved greater than 15% cost savings through automation in the past year.

Process automation can also help companies to push down costs in other areas, such as human resources, new service development and customer management, the report says.

Artificial intelligence used in this manner also brings opportunities beyond cost savings. Automation can give rise to great amounts of data – valuable for agencies to predict future demand, rather than react to it.

To find out more from Cognizant, complete the below form with your contact details and download their research report.