With the advancement of digital technology, the robotic process automation (RPA) industry has begun to witness a massive spurt of growth. More and more organizations have started utilizing the dynamic RPA system to streamline processes, redeploy resources, improve productivity, and enhance customer service. The size of the RPA market has slowly increased from a meager $250 million in 2014 to an overwhelming $4.9 billion in 2019.
And this is just the tip of the iceberg! The next year is likely to be even more productive and innovative for the robotic process automation architecture!
According to a report by Forrester Research, market leaders from around the world agree that 2020 will be a ‘breakout’ year for RPA. A shifting global economy will pave the way for the emergence of a new generation of sophisticated workers who are quite adept at handling complex technological changes. As a result, the adoption of all interrelated disciplines like artificial intelligence, machine learning, big data analytics, and robotic process automation would steadily increase.
However, these are not the only ways in which robotic process automation will change in 2020. Here is a list of a few other RPA trends which are expected to define the automation industry in the next year –
The Growth in RPA Will Accelerate
Businesses across various domains have been interested in RPA technologies for quite some time now. With the dawn of 2020, this interest will start getting converted into actual adoption. As per the statistics released by Gartner, organizations will spend about $1 billion on assimilating robotic process automation within their current systems. This sudden growth would result from an accelerated demand for improving procedural efficiency, eliminating repetitive tasks, enhancing structural accuracy, and reducing total costs.
Automation Technologies Will Be Better Understood
At present, the understanding of the nature, power, and potential of robotic process automation is extremely limited. Most companies still tend to confuse RPA with AI or ML. However, as the growth of automation technologies picks up speed, businesses will get a better grasp of where exactly an RPA software can be used and which processes have to be kept out of its ambit. Gaining such an understanding would help organizations craft fool-proof, resilient, and coherent RPA systems.
The HR Scenario Will Transform
For many years, it was assumed that automated technologies would eventually bring about gigantic job losses. Nonetheless, this misconception was shattered by the HBR report of 2018, which found that only 47% of projects that used robotic process automation, led to a reduction in staff numbers. Rather, the adoption of RPA caused a redistribution of work, a shift in job roles, and a greater focus on more challenging tasks. In 2020, this new RPA trend will continue to transform the essence of human resource departments in every organization.
The Growth in RPA Will Accelerate
Businesses across various domains have been interested in RPA technologies for quite some time now. With the dawn of 2020, this interest will start getting converted into actual adoption. As per the statistics released by Gartner, organizations will spend about $1 billion on assimilating robotic process automation within their current systems. This sudden growth would result from an accelerated demand for improving procedural efficiency, eliminating repetitive tasks, enhancing structural accuracy, and reducing total costs.
Automation Technologies Will Be Better Understood
At present, the understanding of the nature, power, and potential of robotic process automation is extremely limited. Most companies still tend to confuse RPA with AI or ML. However, as the growth of automation technologies picks up speed, businesses will get a better grasp of where exactly an RPA software can be used and which processes have to be kept out of its ambit. Gaining such an understanding would help organizations craft fool-proof, resilient, and coherent RPA systems.
The HR Scenario Will Transform
For many years, it was assumed that automated technologies would eventually bring about gigantic job losses. Nonetheless, this misconception was shattered by the HBR report of 2018, which found that only 47% of projects that used robotic process automation, led to a reduction in staff numbers. Rather, the adoption of RPA caused a redistribution of work, a shift in job roles, and a greater focus on more challenging tasks. In 2020, this new RPA trend will continue to transform the essence of human resource departments in every organization.
Business Security and Risk Management Will Improve
In 2020, robotic process automation will witness a gradual shift from being a mere productivity enhancement tool to becoming a business security and risk management technique. RPA will increasingly be used to reduce human error and thus, limit data leaks, protect business information, and counter breaches in security, if any. With its army of bots fighting on the front lines, robotic process automation would further be employed to deal with every internal and external danger that can prove to be a threat to an organization’s online presence.
Intelligent RPA Integration Will Increase
Last but not least, another RPA trend that is most likely to gain immense traction in 2020 is intelligent integration. Robotic process automation will not be treated as an isolated technology anymore. Instead, it will begin to be integrated with the existing processes and operations in an incredibly seamless manner. Moreover, RPA will also open the doors for other technologies like cognitive automation, AI orchestration, and cognitive capture to follow suit. These technologies, along with RPA, will redefine business management in 2020.
Wrapping up
With changing times, it has become incumbent upon various organizations to keep track of all the expected RPA trends in advance. Doing so can not just help them alter their work processes and reorient their business strategies, but it can also ensure their survival in a tumultuous corporate world. So, if you want to gather greater knowledge about robotic process automation and other, probable RPA trends, you can find more information about them by clicking here.