Spread the love

Robotic Process Automation (RPA) has been steadily transforming the enterprise environment through automating repetitive workloads. For manufacturers, however, RPA can facilitate improved productivity, boost customer engagement, drive innovation, all while lowering costs.

“Intelligent automation continues to gain traction as a holistic solution for digital transformation in Asia,” said Adrian Jones, executive vice president, Automation Anywhere. “With the RPA market size estimated to be US$2.9 billion and to grow by 203 per cent by 2021, 2020 will be a year of unprecedented acceleration in the lead up to this growth.”

A global player in the RPA space, Automation Anywhere predicts that 2020 will be the breakout year for intelligent automation. For 2020, the company identified five key developments it anticipates would impact regional businesses and the adoption of the technology.

1) Elimination of paper

Cloud-native and web-based RPA platforms will come to the forefront in the new year. Use cases of RPA will eventually move toward easy-to-deploy-and-teach artificial intelligence (AI) models for a large majority of paper documents in the enterprise. This means that human workers may never need to process an invoice again. This is due to the onset of rapidly maturing machine learning technologies that understand the written word, as well as integrating resulting actions within an RPA platform.

“More new industries will discover and adopt RPA – this growth will span both horizontal and vertical adoption,” said Jones. “We will also see this extend to mid-market and SMB segments, paving the way for ubiquity.”

“What is exciting is that regional businesses are going past the adoption stage. They are now increasingly moving into the implementation of Digital Workers – specialised bots with skills that complement human worker’s responsibilities, by taking on repetitive and time-consuming tasks. Growth in integration with third-party cloud AI services by enterprises will encourage Digital Worker implementations, which can then help with creating end-to-end automation workflows through pairings to chatbots and other triggering mechanisms.”

2) Economic recession

Experts warn of an “imminent” global recession in the new year, exacerbated by a US$13 trillion global stockpile of negative-yielding debt. When businesses navigate the downturn, they will need to find new ways to increase efficiency, drive revenue, and meet customer needs.

With 85 per cent of the RPA market still untapped, the economic slowdown will encourage businesses to dive into automation to find new efficiencies and mine new opportunities. 

“At Automation Anywhere, we are already seeing our customers increase investments to hedge against a potentially declining economy,” said Jones.

3) Public sector

As big data continues to be the overarching technological infrastructure driving the advent of 5G and explosion of connected devices, the public sector will sharpen their focus on supporting AI adoption in the workplace.

“We already see that in countries like Singapore, with the recently announced National AI strategy which will support key sectors like Education, Transport, and Security. We believe that we will continue to see inquiries on implementing Digital Workers from public sectors across Asia Pacific & Japan,” explained Jones.

In addition to government investments in the technology, legislations like the Personal Data Protection Act (PDPA) will result in a higher demand for transparency of data collection and use. Secure and intelligent bots will thus increasingly come into the fold to be a critical line of defense against data breaches.

4) Hiring for RPA skills 

With RPA and AI already among two of the most in-demand skills in Asia, the demand for RPA skills will continue to appear across job roles – developers, business analysts, program and project managers, etc. – and verticals – IT, BPO, HR, education, insurance, banking, among others.

“Individuals with the requisite skills in RPA will see their starting salaries rise, and this will prompt more professionals to upskill to ride on the waves of demand. We will continue to work with industry partners and educational institutions, like Dhurakij Pundit University in Thailand, INTI International University in Malaysia and the Institute of Technical Education in Singapore, to equip the next generation with requisite skills in RPA and prepare them for a digital workforce,” continued Jones.

5) Intelligent (AI-driven) automation

While many RPA platforms now offer AI capabilities, they are currently used as two separate entities – one, rules-based, and the other, adaptive and predictive. In the next year, RPA and process analytics will become entirely infused with AI and machine learning (ML), accelerating process mining and discovery, and dramatically simplifying human effort in these areas. Moving forward, bots will be able to automatically identify the best processes to automate, act upon this insight, and optimise deployments throughout to guarantee the best possible results.

“Technology advances will result in even greater usability and sophistication of RPA. The move toward AI-driven automation is but one of the many advancements in technology we will continue to see in the new year. As developers gain increased access to the technology via Application Programming Interfaces (APIs) and Software Development Kits, the ecosystem will continue to grow as they develop cutting-edge digital workers that they can monetise via online bot marketplaces,” concluded Jones.

KEEP YOURSELF UPDATED, SUBSCRIBE TO IAA NOW!

FOLLOW US ON FACEBOOK, LINKEDIN AND TWITTER !

Faulhaber Singapore to be renamed, adopt direct sales model
The Global Control Valve Market Is Set To Expand till 2026