Is robotic process automation a new buzzword in the world of enterprise technology? Of course not! In fact, it is a tale that is as old as time, a song as old as rhyme. For a while now, several professionals have been able to tap into and leverage the technology to accomplish a host of impressive projects. The real news is about the future of robotic process automation and that’s just what this article goes into detail about.
What is Robotic Process Automation?
In the simplest form, robotic process automation (RPA) automates the execution of repetitive, predictable, labor-intensive tasks, freeing up resources for use in tasks that demand creativity and dynamism.
But in recent years, the rate of its advancement and market adoption has reached a critical mass. Now, RPA is bound to create a revolutionary impact on the business process management (BPM) marketplace. According to Forrester, the RPA market’s revenue will hit $2.9 by 2022.
So, what are the future trends we can expect to witness in the RPA market?
Predictions for the Short-Term Future of RPA
- More widespread adoption of RPA in various industries such as manufacturing, retail, finance, aviation, BFSI, etc.
- Data entry and rekeying tasks that are mostly executed by RPA technologies.
- More widespread use of RPA in rule-based computer aided processes.
- The use of RPA in garnering data and insights from data analyses with greater accuracy.
Predictions for the Long-Term Future of RPA
- More Widespread adoption of RPA in numerous areas of businesses and services, especially those pertaining to customer management and interaction with the external business environment, and the transition from pilots and proof of concepts (POC) to actual production.
- Greater integration with artificial intelligence (AI). Many people think that RPA is synonymous with AI, or that RPA is a subcategory of AI. However, that assumption has been made too early, as both technologies are presently markedly different. However, the two technologies are becoming more intertwined by the day, and the next paradigm shift in RPA is will most likely make it permanently inseparable from AI, where RPA will become less rule-based and more dynamic like AI.
- The dominance of Smart Process Automation (SPA), a subsystem of RPA that handles non-linear data tasks which are beyond the capabilities of robotics. SPA integrates Machine Learning, AI and cloud to enhance the operations of RPA.
- Increased incorporation with other tools and technologies that will expand the capabilities of RPA. Such integrations will lead to more powerful, versatile RPA functions that can revolutionize an enterprise ecosystem.
- A new generation of RPA that incorporates digital workforce, AI and human resources to expedite digital transformation. The next generation of RPA will be used in combination with digital production facilities integrated with communication tools used by digital employees, including instant messaging, social media, email and HR applications. This is bound to bring about enhanced productivity, creativity, and collaboration.
Since its introduction, RPA has always presented the business environment with exciting prospects of enhanced productivity and efficiency. Today, RPA looks set to assume an even more critical role in the enterprise ecosystem, as it has advanced to the point where it is capable of empowering an unprecedented transformation of business process management (BPA).
Many industry experts believe that RPA has greater transformational prospects than cloud computing. We at Biztruss can help you tap into the transformational prospects to improve your business process management.
Talk to us today and unlock the potential of RPA for your organization. Let’s get this conversation started!