The next phase of digital transformation is going to driven by automation. In the foreseeable future, Robotic Process Automation (RPA) is going to usher in a new era characterized by high personalization, improved delivery of customer value, greater convenience and rapid delivery of needs.
A recent study forecasts the growth of RPA industry to attain $2.9 billion by 2021 from $250 million in 2016. The main factor driving the growth of RPA is AI/ML . RPA powered by AI/ML has evolved from simply automating tasks and processes and tasks to becoming a key driver of enterprise transformation.
In this article, let’s explore what are the top 10 trends in RPA in 2019.
Top 10 Trends Trends In RPA 2019
Coming Together Of AI Into RPA
As you can see, AI era has begun and has started to demonstrate the changes it will unleash in every sphere of our lives. RPA is one such change promised by AI. In this year we can expect to see the coming together of AI and RPA to deliver integrated value to the business. This will also lead to the emergence of what is called the Intelligent Process Automation (IPA). Some estimates suggest that in the upcoming years more than 40% of organizations will develop high impact digital workers by merging AI and their RPA.
RPA Will Become a Billion-dollar Industry
RPA will be rise to be considered as critical for streamlining business operations and using raw data to its full potential. Gartner predicts RPA software spending to reach $1 billion by 2020 with a compound annual growth rate of 41 percent. Organizations such as Blue Prism and UiPath are in the forefront of scalable RPA solutions that can be leveraged across their organizations. Highlighting the strategic value of RPA for organizations, another report found that over 70 percent of business leaders has plans of investing more in the development and implementation of RPA.
RPA Will Enter Public Sector
As opposed to previous years, where Robotic Process Automation was embraced only by private industries and MNCs, the upcoming years will see RPA entering the public sector with governments across the globe realizing its value in citizen-centric services.
Attended Robots Will Dominate
This year we can expect to see more of attended robots working along with humans rather than unattended robots. As per Guy Kirkwood UiPath’s chief evangelist, there has been an increase in the ratio of unattended to attended robots to 54:46 from the previous 70:30. We can clearly see that there has been a definite increase in attended robots. Moreover, this ratio is estimated to reach 50:50 by this year’s end as the industry is geared to embrace more number of attended robots for generating automation solutions.
Centralization Will Dominate Chaos
Most organizations will have their automations centers in the upcoming years. This will have the consequence of bringing together unpredictability, change management, security, control and auditing issues. With these developments, there will be a rise of governance concerns throughout this year causing organizations to invest heavily in central coordination through automation centers that are planning according to unifying frameworks.
Increase In Consultancy & Decline In Licences
We can expect to see a significant decline in the RPA license because there will be an increase in the number of robotic vendors. This will also lead to a rise in free trials. RPA licence will cease to be the main revenue sources and instead consultancy revenues generated from process documentations, pilot POCs and core consulting will dominate.
Increasing Prominence Of Unstructured Data
Insights gleaned from unstructured data will be at the core of RPA products. Unstructured data sources including mails and images will prove to be a goldmine for organizations. Additionally, this will cause RPA vendors to deploy technologies such as AI and OCR for structuring data from orders or invoices and then allowing a robot for automating the procedure to generate an immediate ROI.
Transformation Of Job Market
Employment be affected by automation and there are several industry estimates that voice that almost half of the jobs will be replaced by automation. Contrary to this, the new trend suggests that there will be a collaboration between machines and humans in many areas. Moreover, more jobs will develop as a result of automation industry as there will be a need for RPA experts who are able to enhance the chatbot’s user interface, process experts who are capable of solving business problems and designers.
Development Of More & More Centres of Excellence
According to some experts, by 2019 end 40% of organizations will set up automation centers and also heavily invest in centralized coordination centers or centres of excellence. These centers will examine which of the automation technologies can be used to address different business concerns while driving technical compatibility, integration and base practices.
Prominence Of Chatbots
With the rise in consumer’s conversational interface usage, chat and voice enabled processes will become common and expected in the industry. The growth of chatbots will enhance the usage of cognitive knowledge engines focusing on the maintenance and development of a corporate memory with the purpose of supplying answers to clients and customers.
As you can see RPA is set to scale in 2019. If you want to piggyback your organization to success, check out RPA training offered by us.