The concept of Artificial Intelligence taking over the world has been a common plot in a lot of movies. We saw a glimpse of reality in these concepts when the globally renowned phenomenon ‘Sophia’ was launched. Although this AI-based robot has excellent potential, this area of technology still has a long way to go before it becomes independent. The progress in this area might be slow, but it is evident. We already have software like Robotic Process Automation (RPA) being deployed by large enterprises across the globe.
What is Robotic Process Automation?
Astonishingly, the concept of RPA has been around for over a decade. However, it has only surfaced recently corresponding to the recent growth in AI. RPA is a software that allows companies to automate their redundant processes. While still nascent, RPA tech is expected to grow vastly in the next decade. Experts believe that with the benefits it is proposing, annual spending on RPAs will increase to over a billion USD within a decade.
RPA brings along an array of benefits for companies. By allowing them to automate routine processes, it saves the valuable time of a human resource which can be used in high-end operations like creating policies or developing strategies. In addition to that, since RPA is AI-based, it becomes more efficient with time allowing the same processes to be completed in a far lesser time.
Organizations are already in transition
A lot of businesses are currently using this software to automate functions like payroll generation or invoice formation, etc. Leading IT firms like PTC System (S) Pte Ltd are offering RPA solutions at highly affordable rates. Since these solutions require little to no human interaction, a lot of businesses out there are even propose replacing the human resource with such RPAs, thereby cutting down on salary expenditures. However, it is deemed better to rotate jobs and allow the same individuals to take part in more critical value-generating business decisions while they oversee RPA on the side. In addition to that, improved efficiency of work and reduced cycle times also translates into better productivity for companies overall.
Furthermore, another one of the many reasons why enterprises are beginning to prefer RPA solutions is that it also reduces the possibility of potential errors. Human beings are limited in their ability to perform efficiently within a 24-hour period. Their productivity is also subject to their health and exhaustion. In such cases, the probability of errors becomes higher than usual turning into a potential risk for the business. Robotic Process Automation software, on the other hand, can perform efficiently for a lot more time.
Applications of RPA
Robotic Process Automation is being used by enterprises in many ways. Some organizations are using it for processes like payroll generation and invoice creation as mentioned above, others are using RPAs for more crucial tasks like analyzing investment portfolios, monitoring employee communication for noncompliant activities, and providing real-time response to potential customers, among other applications. The best thing about RPA tools is that they allow applications in a broad area of functions. All in all, it is fair to state that the potential of Robotic Process Automation is limitless in the years to come. You can reach out to top of the line IT solutions companies like PTC System (S) Pte Ltd to deploy Robotic Process Automation software in your enterprise. Go through their IT-based services through this link: www.ptcsys.com.