How is Robotic Process Automation Driving Enterprise Transformation?
Albert Einstein said in 1946 “It has become appallingly obvious that our technology has exceeded our humanity.” If only, he could ever see where technology is now.
Technology is an inevitable part of our life that is continuously changing and ever evolving. Technology has always provided solutions to make people’s lives easier. Recently, technology has spread its legs in the business process automation, with Robotics. Robotic Process Automation (RPA) is the use of software to handle high-volume, repetitive tasks that typically required a human to perform.
Robotic Process Automation (RPA) market is said to register a growth of USD 1,705.7 Million by 2024, helping companies save $5 trillion to $7 trillion with RPA, by 2025. While RPA is still in the developing stages, the benefits are still very much clear. Higher Quality Services, Greater Compliance, Increased Speed, Increased Agility, Comprehensive Insights are just some of the benefits it offers.
RPA currently has three major tools – RPA bots, Self-learning solutions, and Cognitive/intelligent automation. The “bots” are configurable software that can be set up to perform the task that you assigned to it. You will have full control over the process. Self-learning refers to tools of learning the necessary activities and automating them, manual labor can give feedbacks to increase the automation level. Cognitive Automation is using optical character recognition (OCR) or natural language processing (NLP) to deal with both structured and unstructured data including text-heavy reports.
While we are still far away, many researchers are already started debating whether RPA is a complementary or an alternative for artificial intelligence (AI) and machine learning (ML). We are already witnessing the way RPA is replacing the AI Chatbot and how AI Deep learning software is being used to help the learning automation process. No one knows what the future hold.
What is the future of Business Advanced Solutions?
Across the manufacturing industry, there have been several examples of leveraging automation to replace manual labor, making processes swift and seamless. All businesses need an operational boost and want to optimize their processes. The bigger question is about layoffs. With a manufacturing process changing, manual labor is in constant fear for their jobs. While companies are placing their systems as teammates to the laborers, the idea is when machines will be doing the mundane work, people will be redeployed into more meaningful and interpersonal jobs. The question is about the knowledge and skills manual labor has to learn just to adjust to the new system.
While no one can say he/she holds the latest tech, because somewhere, in some corner of the world something bigger and better is becoming a reality, it’s just about the time. RPA may not be a new idea or even a complete idea, but it’s time has come. And the time for RPA-powered transformation is now.
As a reputed name in the IT space, Prolitus helps businesses kick start their journey towards orchestrating task between humans, robots and systems to change the way businesses work.