Future Prospects & Trends in Robotic Process Automation

Future Prospects & Trends in Robotic Process Automation

In the current era, industries and companies of all sizes are expected to witness a digital transformation to experience market growth. Almost all services and products today have to cater to a global audience as the world has been supremely connected through the internet.

This large scale development calls for the automation of business processes along with error-free results. As a result, the future of RPA is shining brightly. It is undoubtedly going to make an indispensable position for itself irrespective of the industry niche of its application.

In order to dive into the future of RPA, its predictions, it is necessary to understand what engulf the global robotic process automation RPA market.

What is RPA?

The main goal of implementing RPA technologies is mitigating the time consuming, repetitive tasks performed by humans. RPA implementation is allowing software robots to take over the mundane tasks which are ideally done by intelligent workers by reducing errors, being cost-effective, and allowing resources to focus on the more important tasks that necessitate human intervention.

The robotic process automation market is thriving with the amalgamation of artificial intelligence and machine learning technologies for its development. RPA solutions are capable of carrying out repetitive, rule-based, and labor-intensive tasks. This means that when companies adopt RPA, they are able to channelize their resources and achieve maximum ROI.

According to a market research report by Gartner, “The estimated RPA spending will reach $2.4B up to 2022”.

The Future of RPA:

It is undoubted that any Robotic Process Automation Company which expertly provides services for global RPA is bound to flourish. Here is what you can expect in the field of RPA in the near future.

Progress on Web-based platforms:

With the advancement of the internet and remarkable network connectivity, businesses have expanded immensely in the digital domain. There is a vigorous development of mobile apps, web apps, etc. Many companies are investing huge amounts for marketing on social media platforms.

This means a large customer engagement can be expected over web-based platforms. Consequently, companies will have to invest a very large amount in hiring people who can cater to the increasing demands. The tasks involved in this scenario require handling a large amount of data and passing properly excavated information.

Human involvement in these tasks is definitely prone to errors and time-consuming as a lot of training would be involved. The only solution to solve all these problems and complete the tasks extraordinarily is the implementation of RPA.

Thus there is going to be a very bright future of RPA in websites, mobile, and web applications.

SPA Smart Process Automation:

When we speak about the future of RPA, the rise in the development of the SPA goes unmentioned. SPA is basically an extended form of RPA. SPA makes the most of the abilities of RPA and is a 360-degree inclusion of AI artificial intelligence, ML Machine Learning, Big Data, cloud services, etc. It is an entire sphere that will drive any industry towards a swift path to automation.

RPA is ruled by the business logic: “IF this, THEN that” i.e. it is rules-based. SPA moves over this theory a little. To put it in an equation,

SPA (Smart Process Automation)= RPA + human in the loop + machine learning.

Introducing humans in the loop does not mean that we are defying the cause in itself of reducing human intervention. It is in fact for exceptional cases like handling unstructured data where a robot may not be as skilled or effective in the decision-making process.

Improved Functionalities:

The current application of RPA involves only dealing at the user end i.e. interacting with the customers arriving at a platform or data entry level work, etc. The future of RPA promises its integration with other tools. It will serve exceptionally well in the fields of banking, finance, insurance, healthcare, or legal services.

It will effectively handle the back-office work as it does at present at the front desk currently. The future of RPA includes the management, storage, and retrieval of important documents. It will help organizations to make their operations paperless.

In Conclusion

RPA Robotic Process Automation is the ultimate technology that will usher us in the era of hyper-automation. It will definitely streamline tedious tasks and at the same time give new meaning and innovation to the ongoing ones.

As a parting note, here are the advantages that will be served as a part of the future of RPA: Cost-cuttingOptimizing resources quick deployment of services removing the drudgery of monotonous tasks.

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