Robotic Process Automation is a business automation technology that automates the labor-intensive and repetitive tasks with a virtual workforce, using Artificial Intelligence.
There are two primary types of RPA tools in use: Programmable and No code RPA tools. Depending upon the type, instead of programming, users rely on a visual UI and macro recording to build automation.
The RPA software bots do not need the entire database nor the code development without any human supervision.
However, the use of RPA has created some controversies too, and is seen as a replacement to humans as a resource in the upcoming future.
RPA tech liberates the resources and works on smart decision-making and judgment. It can self-learn & adapt to circumstantial changes.
The areas influenced by robotic process automation include; healthcare, retail, telecommunication, supply chain, travel & logistics, banking, government organizations, manufacturers, research/consultancy firms, and technology solution providers.
Given below are the main applications of automated software robots in Robotic Process Automation:
- Report generation.
- Revenue forecasting.
- Beneficial to QA processes.
- Data validation and auditing.
- Data replication and migration.
- Customer Relationship Management and other operational sales activities.
Here are 3 of the most effective Robotic Process Automation tools:
- Blue prism
- Automation Anywhere
Scope and Predictions for Robotic Process Automation:
“Statista reports that the RPA industry will be worth $4.9 billion by 2020.
Future implementation and uses of RPAs have a relatively higher range and are full of potential. The obvious big step for markets around the globe is to start working with the RPA slowly but steadily.
Integration with other technologies:
The RPA, with the help of modern technologies, will become more percipient.
Together with AI, robots will come up with different solutions to furthermore ease the workflow of the organizations. The business processes will see better services for complex and repetitive processes.
Combining bots with intelligent technologies leads the rate of the learning process to accelerate.
When integrated with technologies like Big Data and IoT, the software can analyze the data available in real-time while processing.
Furthermore, it can predict the time left to complete a task or a milestone accurately while still on the process, or even beforehand.
With IoT and RPA assistance, the industries will be able to streamline business processes 24/7 and optimize operational efficiency.
Reduced operational costs:
With better technologies and research at its disposal, we will see a decrease in the cost of RPA tools.
With it, the other processes on work, the automation cost will dramatically reduce in the upcoming years.
Moreover, as the number of robotic vendors grows, the RPA licensing will see a significant decline rate in RPA licensing and with more space for changes.
With more significant responsibilities on the robots’ shoulders, the bigger are the possibilities of a breach and system failure.
There will be an improvement in protection measures from the new types of cyber threats or any internal faults will see an increase due to a constant rise in security requirements.
Better Cloud-Based Robotic Process Automation Platform:
According to “Robotics Process Automation (RPA) – 2018 Annual Report,” Everest Group, 2018; currently over half of all RPA processes (~57%) are attended.
Including cloud-based, unattended RPA represents the remaining 43% (33% on-prem, 10% cloud-based).
The growth of IoT and improved cloud services gives more flexibility and security to Robotic Process Automation.
The cloud supplies unlimited, off-site storage, and on-demand access to data.
Automation at its best:
About 70% to 80% of rule-based processes in a business can be automated. RPA has a good hold in both the back- and front-office with advancements in AI, big data, speech recognition technologies, machine learning, and deep neural networks.
As a consequence of predicted growth in the field of Cloud-based tech and natural learning processes, RPA tech is positioned to be even more integrated, automated, and independent.
Jobs and Industries:
On average, IT departments spend almost 30% of the time on basic tasks. The number of hours spent doing the same old dull and repetitive works will decrease.
With robots replacing them in repetitive tasks and managing the resources and inventories optimally, training for new and creative jobs will be availed.
Not only large-scale and private industries, but SMBs, public sectors, and the governments will also avail RPA services for data integrity and security.
The RPA will spread like wildfire across the globe and market.
Human and machine staff will come together, creating new jobs in the technology domain as designers, RPA specialists, improving bots user interfaces and business intelligence, and process experts.
The RPA will emphasize on customer-oriented operations. With its self-learning capabilities, it is much easier to see further innovations in new applications to rise positively.