RPA in the Future: Robotic Process Automation Innovations in 2020 - ByteScout
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RPA in the Future: Robotic Process Automation Innovations in 2020

Several innovations in the scientific, medical, technical, philosophical and sociological fields have been misconstrued in their early days. They later mainstreamed after several years of their existence, sometimes spanning decades. We can go back in time to talk about instances of this event from Socrates to Nicolaus Copernicus, as well as Galileo Galilei to Darwin and the Scopes attempts. Another notable instance is that of Stem cell research which has encountered similar situations over the past two decades. Who would believe that RPA has been in existence since the past decade?

In the field of technology, the two movers that have been generating the greatest controversy are Robotic Process Automation (including the concept of Automation Anywhere) and Artificial Intelligence.

Make Your Robots – Try RPA Tools

It is logical considering how both are intricately interwoven. Several employees can accept the fact that automation techniques have the capability to invalidate their roles, especially in the manufacturing field. Also, enterprises have been somehow skeptical in regard to the uncertainties and possible costs required to implement AI-based Robotic Process Automation for the improvement of business processes.

In most cases, the reality lies between the two extremes. Let’s briefly examine the present status and the worth of RPA, as well as its prospects in the years to come.

Future of RPA

What is the market value of RPA?

RPA has been making a notable impact since the mid-2010s. However, it has only earned the early adopters meager returns. A research conducted by ResearchandMarkets estimated that the market value of RPA has the possibility of exceeding $7billion by 2024, leveraging the 27% compound yearly growth rate which started in 2013 and will proceed to peak in 2023 at the very least.

Opinions, however, differ in the estimation of the RPA sector among researchers. Valuations have been ranging from $350 to $540 million from 2017, but despite the absence of specifics, an increase to $7billion would be classified as a massive surge.

This is the more reason Bytescout has been focusing on enhancing its offering to align with the ever-increasing demand for optimized business improvement and automation solutions.

Before now, RPA use cases was beyond imagination and vague by many enterprises. Nevertheless, it has gain momentum and more companies are considering leveraging it in automating boring and repetitive tasks.

Why Do Companies Prefer RPA?

Several enterprises prefer RPA because it does not disrupt the existing system or asset. It has the capability of automating the existing infrastructure using the same infrastructure. Most people even confuse it with AI and Machine Learning but they are not the same. RPA is process-driven while Artificial Intelligence and Machine Learning are data-driven. Another difference is the fact that RPA imitates humans while AI connects human intelligence’s stimulation.

Why is RPA Process-Driven?

RPA bothers on automating repetitive and boring tasks. It automates diverse processes existing in an organization like workflow process, business process, transaction process, IT support process, and many more. Automating those processes lead to higher productivity as the business can reduce the probability of errors resulting from recurring activities. 

RPA is capable of completing activities leveraging a specific set of rules. It guarantees the application of these rules all through the lifespan of the process. This is to ensure it achieves a streamlined result. RPA assists in the automation of the financial processes that take place in the back office.

This was extensively explained in our article, “Robotic Process Automation(RPA) In Finance: Use Cases. Not only that, processes such as customer service, data entry, and customer services could be very cumbersome. RPA automates all these processes. This results in business improvement. It completes processes on time, digitizes them and also enhances work efficiency.

Data-Driven Machine Learning (ML) and Artificial Intelligence (AI)

Presently, companies are focusing on data-driven Artificial Intelligence. You can extract a significant volume of data now with fast processors, cheap data storage and related data-focused methods. ML and AI help enterprises to port from being data-driven to data-centric. The underlying reason for this progression is the fact that an organization’s data is its life wire.

In other to survive in a competitive ocean full of sharks, they need to assert their achievement by generating intelligence from data. This is possible in that data-driven AI builds a framework that has the possibility of detecting the correct response from a set of instructions or training or from a pool of questions.

This works by leveraging neural network algorithms. It does not rely on established rules by humans, instead, it helps the system to be self-directed leveraging the training it has received.

ML guarantees quality data which is germane for business processes. Decisions that rely on inaccurate data have the tendency to hinder the overall growth of the enterprise. Machine Learning verifies the quality of the data, its completeness, as well as, it is formatting.

In case there is an issue, it communicates alerts to proprietors of data and end-users. It can also suggest how to fix and enhance data quality. ML simplifies data processes from several sources. This can help businesses to make better decisions.

It is therefore not a gainsaying to state that Artificial Intelligence and Machine Learning will be the future scope of RPA. These two will lead RPA to the next phase. When they combine, RPA can take on any data, whether structured, unstructured or semi-structured. When ML is incorporated into the field, it will be easy to predict possible scenarios. Therefore, RPA is closer than ever to intelligent automation.

What are the Predictions on RPA?

For better clarity, we would classify the predictions into both the near futures, as well as the long-term future.

  • Robotic Process Automation will gain acceptability in several domains and sectors such as Retail Analytics, BFSI, Manufacturing, Aviation, Oil, and Gas and Legal.
  • Automated tools and techniques will handle data entry, as well as, data rekeying roles in the near future.
  • RPA will assist in the management of all computer-aided processes governed by a set of protocols.
  • RPA will be utilized for enhanced analytics and improved data accuracy.
  • RPA will help in the management of formatting tasks as it includes a set of rules.

Experts predict the following on RPA in the long term:

  1. Wider Adoption: More enterprises are getting to know the significance of RPA. There will be a sudden rise in both adoption and implementation in the forthcoming years. It will be utilized for several processes and will be instrumental in managing customer-focused and external procedures. Most companies are shifting from proof of concepts (POCs) and pilots to standard production. This is lending more credence to RPA capabilities.
  2. The Emergence of SPA: Smart Process Automation or SPA is an extension of RPA. The essence of this aspect is the automation of unstructured activities that robotics cannot handle alone. SPA leverages ML which is an alternative script for the if/then rules. There exists a strong bond among big data, machine learning, cloud and AI deployed in improving business processes and establishing and refining models.
  3. Artificial Intelligence: As it has been stated above, we cannot separate AI from RPA. AI will be the next transition stage of RPA. The focus will move from rule-based tech to incorporate AI dimensions.
  4. Integration with other technologies and tools.

RPA will be utilized with other technologies and tools. A lot of enterprises are coming to the realization that RPA functions at its peak when it is coupled with other tools and technologies. RPA integration with the human workforce, for instance, will create a perfect and evolved labor force.

  1. RPA 2.0

The next phase of RPA will include more of Digital employees, AI, Digital Transformation and Total Workforce. The digital workforce incorporates digitally enabled workers who can collaborate with creatively and innovatively. With the help of communication tools and platforms (instant messaging, email, social media tools, HR applications, virtual meeting tools), the digital workplace can eliminate communication barriers and enhance productivity, innovation, as well as efficiency. Nevertheless, this will only be productive if this strategy focuses on cultural changes and is implemented successfully.

   

About the Author

ByteScout Team ByteScout Team of Writers ByteScout has a team of professional writers proficient in different technical topics. We select the best writers to cover interesting and trending topics for our readers. We love developers and we hope our articles help you learn about programming and programmers.  
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