After 5 years of the first enterprise level implementation of RPA, the recent traction that is being noticed in the corporate world is an indicator of the IT landscape warming up to the concept, and gaining insight into the dynamics of tactical application of robotics.
Modern innovations, such as Robotics Process Automation (RPA), Cognitive Process Automation (CPA) and Artificial Intelligence (AI) allow businesses to accelerate their digital transformation journey and reap the rewards of increased customer engagement and improved worker productivity, faster.
During last month’s Leeds Digital Festival, I had the pleasure of hosting a round-table discussion on RPA entitled Robotic Process Automation: The Emperor’s New Clothes? The collective insights of my guests – senior representatives of businesses from across the north of England – made for a truly fascinating debate and I want to share the fruits of our discussion with you.
Ever wondered how changes in the macro economic scenarios are making corporations turn their attention to the finer aspects of execution? This is being done by inspecting the levers that change the micro economic landscape. Existing levers such as Cost, Quality and Time (triple constraints) are now more of a hygiene factor and not a WOW factor or differentiator. This added to the fact that humans, as rational beings often find delivering repetitive tasks a source of boredom that takes away the focus from core activities.
RPA (Robotic Process Automation), a hot topic among CxO group discussions online seems set to thrive. According to Grand View Research, Inc., the global RPA market size was valued at USD 357.5 million in 2017 and is expected to reach USD 3.11billion by 2025.