“Global Robotic Process Automation (RPA) software revenue is projected to reach $1.89 billion in 2021, an increase of 19.5% from 2020, according to the latest forecast from Gartner, Inc. Despite the economic pressures caused by the COVID-19 pandemic, the RPA market is still expected to grow at double-digit rates through 2024.”
As 2020 ends, it is the perfect time to pause and think forward for the coming year and make predictions for what lies in store for robotic process automation (RPA), artificial intelligence (AI), and automation.
Keeping the story short, let me end this year on an optimistic note with lots of hopes for RPA in the coming year, especially in the post-pandemic era. My blog is highly inspired by UiPath’s recent blog and a few others, and I second the thought brought forward by Guy Kirkwood.
RPA will be the new ERP: Remember how ERP became the cynosure for all the industries in the 90s! It was a no brainer that industry of any size or scale adopted ERP to bring operational resilience and convert manual processes into machines. The same happened with RPA, and so I predict it to be the next ERP in 2021.
Hyperautomation will become prevalent: As a smarter, faster, and more sophisticated ‘big brother’ of RPA, hyper-automation is set to become widely used across large-scale enterprises. Harnessing the power of AI, RPA, and Machine Learning (ML), hyper-automation is designed to process massive volumes of data end-to-end seamlessly to optimize business processes across multiple and diverse areas.
Adopting Work from home Robots: 2020 has witnessed something that no one ever assumed; a significant shift to work from homes and the reason; enough said! Every employee demands his robot (or digital assistant), and the RPA market will adjust to support this continued shift to remote working models.
Employee Experience will become significant: While there was an increased focus on Customer Experience in the last few years, the trend in 2021 will see explosive growth in offering outstanding employee experience (EX). The entire automation market must attune to improve the employee experience, which is critical for increasing morale, engagement, and productivity.
Rise of SPA: SPA (Smart Process Automation) is an expansion of RPA. While RPA is equipped for automating structured data, with a pre-characterized set of rules, SPA bots fill in as an alternative for RPA’s ‘If-Then’ rules and statements.
Forward by Manish Malpani (Practice Head RPA): I have written blogs and articles throughout the year on how RPA benefits the industry, from finance to healthcare, e-commerce, legal, NGO, and shared use-cases for respective industries. The use-cases give the user a complete view of where they can implement RPA and how they can achieve scale and operational efficiency while still keeping the cost low. In case I missed what you are looking for, please drop an email at firstname.lastname@example.org, and our RPA architects will provide you a solution.
Towards the end, I shared a blog on one of the most amazing tools from UiPath, i.e., UiPath Insights, an analytical tool to measure the ROI that gets generated post-RPA implementation, and I highly recommend the same to one and all.
In case I missed what you are looking for, please drop an email at email@example.com, and our RPA architects will provide you a solution.