Though the enterprise Robots may not resemble the automation from our favorite sci-fi movies these bots are here to deliver. Robotic Process Automation (RPA) is penetrating fast in the technology-driven businesses and IT conglomerates, as some may refer to it as a disruptive mode to improvise but that needs a separate platform for discussion.
Market Research Future which concentrates on market reports linked to the semiconductors and electronics sector amongst others recently made available a report on this sector. The industry for robotic process automation is estimated to develop to revenues worth USD 2,700 Million by the year 2023 while expanding at 29% CAGR between 2017 – 2023. Robotic Process Automation (RPA) market is expected to grow at approximately USD 2,700 Million by 2023, at 29% of CAGR between 2017 and 2023.(Data Source- Digital Journal)
“Taking the robot out of the Human” is what shall be a classic definition of Robotic Process Automation (RPA) in trying to understand what we have in hand for technologically advanced solutions. From processing a transaction which comes in Machine Learning, data triggering responses and communicating with other digital systems via UI-user interface platform which comes under Artificial Intelligence and also expedite back-office tasks in procurement, supply chain management, accounting and problem solving for faster process throughput which falls under the category of Analytics, Robotic Process Automation (RPA) has brought about a positive bell curve scenarios to study in depth. The research done recently on the implementation of Robotic Process Automation (RPA) has shown some drastic levels of efficiency, capital saving and qualitative outputs in the software dominated sectors. It is an excellent alternative to coding based software driven sectors with a more illustrative, informative and highly advanced technological leap on offer. It is the future of a more productive and conducive technology that will change the way things run.
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