How Robotic Process Automation Helps Businesses
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- 03 May 2023
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Robotic Process Automation (RPA) is a powerful technology that can automate repetitive, operational tasks across various industries. The global RPA market is expected to reach $13.74 billion by 2028, with a compound annual growth rate of 32.8%.
In this article, we will explore the benefits of RPA, including how it improves business productivity, the industries that can utilize it, and how it differs from Artificial Intelligence (AI).
The Benefits of RPA for Business Productivity
RPA is an effective tool for automating repetitive, manual activities that involve large volumes of data and analysis. With RPA, software robots can read data, fill out spreadsheets, interpret code, extract data, and perform various other tasks automatically. RPA robots are more efficient than humans due to their agility and precision in data processing. By automating these mundane tasks, employees can focus on more strategic activities that require decision-making, creativity, leadership, communication, and emotional intelligence.
Industries that Utilize RPA
RPA is widely applicable across various industries, including financial services, healthcare, manufacturing, the public sector, and retail. Virtually any high-volume, business-rules-driven, repeatable process is a great candidate for automation. Moreover, cognitive processes that require higher-order Artificial Intelligence skills are increasingly becoming suitable for RPA automation.
The Distinction Between RPA and AI
RPA and AI are two distinct technologies, but their features can be integrated depending on the context. RPA robots are programmed to perform a series of repetitive tasks based on rules stipulated by the user. They can’t learn or improve their performance during the process. However, when AI features are integrated into RPA, automation starts to interpret behaviors, such as language processing or computer vision and increases the possibilities for decision-making. Read More..
