For nearly a decade, robotic process automation (RPA) has been all the rage, and the trend shows no signs of slowing down. Organizations adopting RPA for the first time, as well as businesses expanding their current RPA footprints, will account for the majority of this growth.
Organizations across the world are automating workflows, and the pandemic is driving the need for better integrated tools. Remote workers, who can only work digitally without access to the paperwork that is the lifeblood of many office operations, are a key reason for the push. Robotic process automation (RPA) software is one essential tool for achieving this speed, and it is part of a growing unconnected mesh of automation that’s overtaking traditional workflows.
In fact, according to Forrester’s latest report “The RPA Market Will Grow To $22 Billion By 2025,” there will be considerable growth, with revenues rising to US$22 billion in 2025, up from US$13.9 billion in 2021.
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Here are some big-picture themes that will influence RPA strategy in 2022 and beyond.
The global supply chain has been considerably disrupted because of COVID-19. As a result, businesses are increasingly turning to RPA projects to address these disruptions and improve the resiliency of their business process operations. Such widespread adoption indicates that organizations are increasingly realizing the significance of RPA.
RPA adoption across the organization, like other areas of digital transformation, will drive yet another technology-driven transformation in the modern workforce. As RPA becomes more common in businesses around the world, IT and non-IT stakeholders will become more aware of its potential. RPA and related AI functions will remain at the forefront of organizational change for the foreseeable future thanks to Industry 4.0.
Intelligent Automation came into being as a result of incorporating artificial intelligence and machine learning into RPA, and its benefits are now widely recognized by businesses all over the world. The goal of hyper-automation in RPA is to better understand the scope of automation mechanisms and how these technologies can work together to address complex use cases.
The latest wave of intelligent automation has featured a lot of chatbot and RPA integration. Chatbots can leverage this integration to direct a user’s natural language command to RPA, which can then execute various tasks. By integrating with RPA, chatbots will be able to handle more complicated user requests at scale.
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Because of the high cost of RPA maintenance and support, more organizations will adopt best automation strategies and build RPA centres of excellence (CoEs). The expanding use of RPA CoEs will help in optimizing and managing RPA, reducing bot errors, downtime, and lost business value when bots are removed from production.
The global RPA market made tremendous progress in the past two years. As it grows into new terrains and adds new capabilities, 2022 might be a game-changer for RPA. Automation will continue to cement its position as a must-have enterprise technology with RPA at its core.
Businesses have become increasingly reliant on RPA bots and sophisticated AI solutions in recent years to survive and thrive. Enterprises need to adjust to the environments in these pandemic and post-pandemic times. RPA has the potential to businesses to new heights by enabling them to provide a more personalized and enhanced customer experience.
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Prangya Pandab is an Associate Editor with OnDot Media. She is a seasoned journalist with almost seven years of experience in the business news sector. Before joining ODM, she was a journalist with CNBC-TV18 for four years. She also had a brief stint with an infrastructure finance company working for their communications and branding vertical.
