Top 10 Automation & Robotic Process Automation (RPA) Predictions for 2019
A Brief Introduction to the Robotic Process Automation
The term Robotic Process Automation (RPA) is drawing more attention in the automation realm. The use of software along with machine learning and artificial intelligence to manage high-volume repetitive tasks is termed as Robotic Process Automation (RPA).
The fluctuating circumstances, new situations, exceptions can be adjusted using the RPA software. Using RPA, large as well as small organizations can perform back-office and middle-office tasks with high speed.
Implementing the automation in the business processes has changed the outmoded way and resulted in an increase in productivity by accelerating the tasks that were performed by workforce earlier.
The Robotic Process & Automation can be used in banking, healthcare, consumer products etc. Using RPA in the business process helps to reduce operating costs, decrease cycle times, save their employees from repetitive tasks and can improve overall productivity.
On the other hand, the next phase of digital transformation will be redefined by Automation as it delivers new levels of customer value, higher quality and dependability, deeper personalization, faster delivery of products, and greater convenience offerings.
Here are the 'Top 10 Automation & Robotic Process Automation (RPA) Predictions for 2019'":
1. The Rise of Artificial Intelligence into RPA
Automation industry experts predict that the Artificial Intelligence (AI) will gain more prominence and RPA will slowly merge with Artificial Intelligence to deliver integrated business value. This will certainly boost the rise of Intelligent Process Automation (IPA).
Automation industry estimates that the RPA market will reach US$1.7 billion in 2019 and US$2.9 billion in 2021.
2. Enterprises to Invest in Automation Centers
In 2019, enterprises are likely to invest in automation centers to combine frameworks. Having their automation centers, enterprises will bring change management, unpredictability, control, auditing, and security issues altogether.
3. Licenses for RPA will decline:
In the coming years, the licenses for RPA will decline and it won't be the main revenue driver. As there are some free offers like 'Free license for 12 months' (Eg: Kapow), licenses will decline and the consultancy (i.e. from core consulting, process documentation, and pilot POCs) will be the biggest revenue stream.
4. Increase in the Usage of Attended Robots
There will be an increase in attended robots that work alongside humans. According to UiPath’s chief evangelist Guy Kirkwood, the ratio of unattended to attended robots is increasing, from the earlier 70:30, to the current levels at 54:46.
It showcases that the automation industry is witnessing a rise of attended robots for all automation solutions.
5. Increasing Dominance of RPA into Public Sector
There will be an increasing demand for RPA into the public sector in the coming years as governments across nationalities understood the value of RPA. This will definitely witness a significant increase in citizen-centric services.
6. Employee Engagement Reaches New Heights
As industries are on the verge to increase automation, there is a possibility of adding more employees to the RPA process.
This will increase the employee engagement to new heights as more and more industries embrace RPA into their on-going business processes.
7. More Focus on Unstructured Data
In 2019, RPA products will continue to focus more on unstructured data as information extraction from unstructured data sources gains an upper edge.
This makes RPA vendors to deploy Optical Character Recognition (OCR) and AI Technologies to structure data from invoices, and then allow a robot automate the process to provide an immediate return of investment.
8. Impact on Employment Market
There will be an impact on employment figures with the use of automation technologies. The automation industry predicts that nearly half of the jobs will be destroyed due to automation. However, the new trend is that humans and machines will collaborate in many workflows and automation economy will create new jobs in the technology domain as designers, RPA specialists. This will enhance user interfaces of chatbots and process experts will solve business problems.
9. Investment in Centralized Coordination Centers
Experts predict that by the end of 2019, 40% of enterprises will have automation centers in place and will invest in centralized coordination centers. These centers help to analyse automation technologies that apply to various business problems and also drives base practices and technical compatibility and integration.
10. Chatbots will be Next Wave
Chatbots will be the next wave of RPA. Automation industry experts predict that 2019 and the successive years will witness voice and chat-enabled products.
However, the rise of Chatbots will amplify the use of cognitive knowledge engines that focus on the creation and maintenance of a corporate memory with the objective of providing answers to customers and clients.