The outbreak of the Coronavirus has challenged our perception of the use of technologies and AI-driven innovations. If, before, their use in the workplace was just filtered for IT organizations, now it is unimaginable for a company to work effectively without the digital world. The post-Covid economy is still reviving from the damages of the virus, whereas AI solutions seem to benefit from it as more and more employers are becoming open to adopting them. The Robotic Process Automation adoption trend is not different from AI tools – the RPA industry is expected to grow up to $2.9 billion by the end of 2021. The need for smart automation has marked the beginning of a new era of the optimized workforce using AI solutions and RPA.
What is the future of RPA?
Thirteen years ago the first steps of RPA were done with its invention and local developments in different parts of the world. Five years ago it was still facing a challenge – the world was a bit skeptical and unable to enhance its potentials. However, the RPA industry has grown and passed the stage of its development which was for people to acknowledge its benefits and applications. After the pandemic, organizations became hungry for process automation as many of them experienced labor shortages and inefficiency. Moreover, RPA is all about empowering organizations’ productivity and improving digital customer experience to keep pace with the new emerging demands. The new normal is driven by RPA and AI tools. It is up to businesses to catch up with innovations and use them to their advantage.
RPA Benefits and Results of Implementation
Automation is traditionally linked with IT or back-office tasks; this was also the case with early RPA technologies. As the RPA market evolves, more sophisticated and powerful RPA solutions are emerging. Their influence is felt in a wider range of automation processes; thus, RPA delivers considerable benefit to the entire business, rather than just one department or entity. Organizations should explore solutions that can serve many purposes because RPA implementations are flexible enough to meet different business use cases and needs.
The benefits of RPA do not stop there. It is essential for new technologies to satisfy their customers’ preferences and to cover a wide range of tasks, but effective results usually come with numbers. The following data is extracted to draw a bigger picture of results due to RPA’s implementation:
- Combining automation technology with revised operational procedures would reduce operational expenses by 30% by 2024, according to Gartner (1).
- RPA can reduce the time it takes to complete labor-intensive jobs significantly by 80%.
- IBM shared that more than 50% of C-level executives have identified essential operational tasks that can be upgraded or automated using AI capabilities. In this way, employees could spend their time on other client-related tasks that need their attention (2).
- In Deloitte’s global survey, 78% of respondents who had previously implemented RPA expect “substantial” growth in their RPA investments in just three years (3).
The statistics are going on and on. The important thing is that RPA is the future, and the future is now.
Are There any Challenges in RPA?
People are naturally fearful of change. Any changes that result from the implementation of new technology can be challenging, especially when employees’ duties and tasks are also prone to changes. Team leaders and executives must communicate openly with employees throughout the implementation project to achieve successful adoption which will reduce stress and uncertainty among employees. Furthermore, for business owners to be more open to innovations, they should be aware of what the goals they want to achieve are to be able to set realistic expectations. Employers face obstacles with adopting RPA simply because they fail to choose the right process which needs automation. Accepting novelties usually comes with curiosity and properly answered questions – that is why people are still doubtful about RPA as it is a new matter that needs recognition.
Taking everything into consideration, the New Age has come, and RPA is, for sure, part of it. The digital world and the pandemic have proven to businesses worldwide that smart automation is needed if productivity and efficiency are sought. RPA deployment, like any other new technology implementation, comes with numerous questions and challenges. Nevertheless, it also comes with numerous benefits that organizations must consider when determining whether to implement RPA.
Let us Help
We, at DigiTech Consult, excels at fast implementation that does not require high involvement from your business. DigiTech’s team helps you to identify the processes that are the best fit for the automation and will bring your company the fastest ROI.
Contact us and we are happy to drive the automation for your business
(1) Gartner. 2021 Gartner Magic Quadrant for Robotic Process Automation. – https://www.uipath.com/resources/automation-analyst-reports/gartner-magic-quadrant-robotic-process-automation
(2) IBM Institute for Business Value. The evolution of process automation: Moving beyond basic robotics to intelligent interactions. – https://www.ibm.com/downloads/cas/QAQMRGVN
(3) Deloitte Global RPA Survey. “The Robots are ready. Are you?” – https://www2.deloitte.com/ro/en/pages/technology-media-and-telecommunications/articles/deloitte-global-rpa-survey.html