You may have heard that more than 50 percent of Fortune 500 companies are already exploring deployment of software robots within their IT landscape. The market – which is growing at a rate of 30 percent – is expected to hit $2.7 Billion in 5 years. Imagine that!
The promised potential of Robotic Process Automation (RPA) is impressive. Our digital colleagues mimic human behavior in many ways, and can do repetitive tasks, much faster and with much greater accuracy. Essentially, RPA takes bots out of human and gives them a life of their own. This frees up human efforts to focus on higher valued activities that require emotions, empathy and creativity. As a bonus, all their transactions are traceable and are good fodder for generating analytics for greater insight – that would otherwise not be available.
Many companies are building in-house RPA capabilities. But, given the newness of this technology, companies are seeking help from consulting partners who can bring deep expertise and a wealth of real-world experience. Incorporating these additional efficiencies can mean a significant competitive advantage – an advantage than can no longer be ignored.
On the solution provider side, competition is heating up, fast. As increased awareness drives marketplace demand, as well as, funding availability, players such as BluePrism, UIPath and Automation Anywhere are cranking up incrementally better products, presenting a greater value proposition for their customers. The latest crop of RPA products is capable of easily integrating with other Artificial Intelligence/Machine Learning and cognitive services. This serves to make smart robots even smarter! Software robots are now able to process speech, images, video and big data to provide more efficiency and effectiveness.
If you’re a sci-fi fan, then you’re already familiar with the futuristic imagery that is now becoming closer to reality. But for now, implementing RPA remains an expertise heavy project. Maybe someday in the near future, you’ll be able to drive up to a drive-thru window and place your order for “Three high-capacity bots with support packs and add-ons, to go!” Until then, we have the tools and expertise to help guide all your digital transformation and RPA needs.
Ketan Ganatra, Director – Intelligent Automation Consulting
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