How Robotic Process Automation Is Changing Business

Technology in the fourth and fifth industrial revolutions has companies finding uses for Robotic Process Automation (BPA). In this blog post, we consider what RPA is and how it is changing the accuracy and efficiency of businesses worldwide.

Business Process Automation

To fully understand RPA, we need to first look at its predecessor, business process automation. According to the Wikipedia entry for RPA, it has evolved from business process automation, which is also known as digital transformation.

Essentially, RPA is the automation of business processes using technology, and businesses use it in areas like accounting, marketing, sales, and workflow. Repetitive tasks are prime for automation processing; hence, they are now prolifically used for Big Data. Data capture and processing use automation tools.

Robotic Process Automation

Therefore, RPA has gone a step further using AI (artificial intelligence) and robots, and we have relevant articles in our blog on how it’s gaining popularity to drive change in business. For example, consumers are now happy to use chatbots to interact with companies. Facebook Messenger is very popular, and chatbots are now the norm on websites.

Businesses are also using chatbots to better understand consumer needs. Artificial intelligence bots can glean more personalized consumer data so companies can suggest products relevant to buyers’ needs.

The RPA market will reach $2.9 billion in 2021. This technology has so many uses, including one area you may not have thought relevant: company hiring practices.

AI is used to match candidates without bias. It’s human nature to have biases, so using AI removes this ‘human’ inclination and thus ensures diversity in the workforce.

The key to new technology success is knowing how your business can get a healthy return on investment. Choose where you want to use it. Consider which processes within your company are ready for RPA.

The size of the business is irrelevant. There is a lot of automation in small businesses, especially for repetitive tasks in bookkeeping, workflow, and marketing.

When is The Right Time for RPA?

The technology adoption life cycle curve (the curve) will determine when a business’s leaders are ready to move in this direction. They will take one small step at a time, not a giant leap to RPA technology.

Arguably, the innovators and early adopters of the tech adoption curve are using AI and robotic tech in their business processing today.

Early and Late Majority

Most businesses are in the early to late majority of the curve. Therefore, they’re still grappling with 3rd—and 4th-generation technology, identifying tasks they can automate to remove human input. Thus, companies don’t need to believe they’re falling behind their competitors with new technology.

The curve will determine when the majority of uptake happens. This will occur after the innovators and early adopters have tested and proven the stability and viability of robotic process automation.

In the meantime, prepare for new technology by setting up workgroups to research and create education centers with case studies.

There has always been a fear that technology will replace human workers, and this perception is a reality. Therefore, remember to be inclusive with your staff. Workers will not fear for their jobs if they know what the technology is and how it will improve what they do so their roles can evolve, too.

Finally, AI and automation are not the same, and this article explains the differences. To keep up with what’s happening in AI and technology for business, we recommend reading articles in our technology category.