Robotic Process Automation (RPA) is making sweeping changes across industries, from manufacturing and healthcare to retail and banking.
It’s predicted that the RPA market will reach $2.9 billion by 2020. To jump into the RPA bandwagon, enterprises are ramping up automation and AI investments, establishing a dedicated automation center, thereby focusing on building a digital enterprise.
In a fast-moving industry landscape, enterprises are adopting RPA and realizing the benefits of automation more than ever. With technological advancement and groundbreaking tools such as AI gaining ground, enterprises are enthusiastic about taking a giant leap forward in the digital world. But, they are also confused about the difference between AI and RPA, failing to view AI as a natural next step in the automation phase.
Let’s understand the difference between RPA and AI
Robotic Process Automation helps automate tedious rule-based tasks, freeing the employee to focus on tasks that require creativity and decision-making.
Artificial Intelligence or AI is where machines think and work just like the human worker, helping the human worker make smarter decisions.
Most enterprises today, navigate from one automation phase to another, enabling enterprise-wide transformation that was unthinkable previously. What does the future hold? Unquestionably, businesses will continue to leverage RPA across various domains, unlocking the capabilities of automation and reaching new heights. Let’s take a look at what the future of RPA looks like:
The Wide Adoption of RPA for Data Accuracy will Increase
As the adoption of RPA increases, enterprises will leverage the power of data more than ever. Massive data is indeed a challenge for enterprises — lack of support from IT teams, data from multiple disparate sources, and the issue of data security. Big Data plays a major role in automation, empowering enterprises to analyze data patterns and insights to make data-driven decisions across processes/functions. As RPA helps automate and streamline data entry processes, accuracy in areas such as data rekeying is possible. From collating large volumes of data to data cleansing and data mining, RPA will help facilitate the human worker at various stages of the automation process, thereby adding value to the business.
Rise of Cognitive Automation — The Next Phase of RPA
As RPA gets integrated with new revolutionary technologies, RPA will empower enterprises to embrace new cutting-edge tools, leading to the formation of a digital workforce that will define the future of an enterprise. RPA needs to go beyond just automating data entry processes and make sense of the massive unstructured data out there. Cognitive automation leverages AI and Machine Learning to improve processes and enhance decision-making, in doing so, ushering in digital transformation across the enterprise.
What is an RPA marketplace? What is the need for it? RPA marketplace is a great platform that allows various Operating Systems to extend their reach, enables faster automation processes, and helps developers submit their RPA code. It helps roll out customized RPA solutions, reduces maintenance costs, and optimizes processes in the long run. With an automation marketplace, your enterprise can ensure a successful implementation of their RPA projects.
Digital Workers will take Center Stage
As technology comes of age, enterprises will experience humans and bots working in close collaboration with each other. Bots will amplify human capabilities, assist the human worker to focus on higher-value tasks. The embracing of digital workers requires a change in the mindset of the leaders and employees of an organization. That’s where change management comes to the rescue.
Dispelling the notions that digital workers will lead to the human worker getting obsolete is crucial. In fact, automation helps create new job roles, expanding the capabilities of a human worker.
The future does look fascinating for industries looking to implement RPA. The benefits are no doubt enormous; from cost reduction to an increase in productivity, bots are here to stay.