RPA has now become the hottest topic of discussion now. Companies worldwide are applying RPA techniques for improved efficiency, reduced operational costs, faster business outcomes, and increased agility.
According to the 3rd Annual Global RPA Survey Report by Deloitte, In 2016, just 15% of respondents reported that their RPA program was part of a wider corporate initiative. In 2017, the figure had risen to 64%. These organizations have RPA either as an enterprise-wide or as a strategic initiative.
With market forces disrupting the business space every now and then, technology trends keep changing. As this technology evolves, we can expect more changes in 2020.
Gartner has coined RPA as ‘the fastest-growing segment of the global enterprise software market’ – and predicted that the global market for RPA services will hit an estimated £5.98 billion (€7-billion) in 2020.
Here, in this blog, I have discussed the top six RPA predictions that you may witness in this year. Let’s read more on Robotic Process Automation in 2020!
Robotic Process Automation in 2020- Top 6 predictions!
RPA has been able to generate quick and high levels of ROI (Return On Investment) for customers. The technology helps automate worker activities that are often tedious and repetitive.
The use of advanced RPA techniques have been revolutionizing business verticals. Soon, we can expect the technology to see expansion across more sectors. This is why RPA adoption has now become a preferred option to grow the top-line revenue of businesses.
RPA as an industry is growing exponentially! It is expected to grow from $250 million in 2016 to $2.9 billion in 2021, says a report by Forrester.
Let’s read further about the top RPA Predictions in 2020!
Intelligent Document Processing goes Mainstream!
Intelligent Automation is one of the top RPA predictions that you may witness in this year. Leveraging Artificial Intelligence techniques along with RPA helps businesses in managing workflows and business processes. This use of AI along with Robotic Process Automation is a new concept!
The intelligent document processing (IDP) market is projected to grow 70-80% annually and exceed $1 billion in 2020, says a press release.
With intelligent automation technologies, businesses can accomplish tasks and activities with higher speed and accuracy. Intelligent Automation not only automates repetitive and tedious tasks but also is able to automate decision- making activities based on the analysis of data from structured and unstructured sources.
Chatbots and RPA will be a Popular Combination!
The convergence of Artificial Intelligence and Robotic Process Automation (RPA), drives great profits for businesses and helps them gain a competitive advantage. Intelligent Automation Processes automate complex business activities and accomplishes at great speed and accuracy.
Businesses are now combining RPA and AI in various innovative ways. Understanding customer queries and sentiment using a chatbot is one of the ways. This deadly combination of RPA with AI driven Chatbot is one of the top RPA predictions in 2020.
By 2022, 70% of white-collar workers will interact with conversational platforms on a daily basis, says Gartner.
No wonder, Chatbots and RPA are two of the most popular and widely adopted AI technologies today. The integration of these two powerful technologies together to build an even advanced technological powerhouse is going to decide the future of Robotic Process Automation in 2020.
Small to Medium Businesses will Adopt RPA!
This is another intriguing RPA prediction that will strike you with surprise. As cloud-offerings have reduced the costs associated with the RPA implementation. With reduced costs, small to medium businesses(SMBs) will adopt RPA capabilities to streamline their business process.
Reduced cost will compel businesses across the globe for executing RPA techniques to improve business efficiency. Undoubtedly, small to medium businesses, all using RPA strategies is one of the top RPA predictions in 2020.
If this trend continues, RPA will achieve “near universal adoption” in the next 5 years, says Deloitte. You can hire a RPA developer to incorporate RPA techniques in your projects.
RPA for Everyone!
Robotic Process Automation in 2020 will be a surprise for all! As the technology evolves, the use of the technology will no longer be limited to only a few trained professionals, Rather, it can be used by anyone.
No wonder, it is one of the top RPA predictions that will amaze you. The technology will allow business users, developers and IT workers to automate business processes using the drop-and-down functionality.
Web-based clients will be able to roll out RPA to all users on any platform (Windows, Mac, or Linux). With the availability of plug-ins for workforce productivity solutions, such as Microsoft Excel and Word, and user-triggered bots, RPA will help businesses improve their productivity.
Needless to say, this is one of the top RPA predictions that will steal the show in the RPA space! You can read to know more about the RPA benefits here.
RPA Analytics becomes Important!
RPA Analytics plunging into the market space is one of the most promising RPA predictions. With RPA analytics, businesses will be able to gain meaningful insights from a logical store. RPA bots will have access to all the data associated with a process.
Thus embedded RPA analytics help in gaining business process insights thus allowing businesses to increase profits. I am sure, RPA analytics will prove to be a gamechanger in the business space.
Good Read : [5 Rules to building a future-proof Automation Strategy!]
RPA in Security gains Attention!
With the number of cyber attacks growing in the business space, companies are now taking strict measures to keep their data safe and secured. RPA techniques have emerged as an effective way to identify threats.
Thus, the technology rendering robust security to businesses is emerging as one of the top RPA predictions now. Through proactive monitoring and automated alerts, the technology will focus on areas like fraud detection and threat identification.
So, these are the top RPA predictions in 2020 that you can expect in the coming year. With its incredible potential to drive huge profits, companies these days are using RPA strategies to automate their business processes.
RPA continues to meet and exceed expectations across multiple dimensions including: improved compliance (92%), improved quality / accuracy (90%), improved productivity (86%), cost reduction (59%), says Deloitte.
This is why RPA adoption among businesses of all sizes has become a popular trend now.