Is RPA Technology Good for Your Business or Is Relinquishing Control Likely to Lead to Greater Problems?
Automating commercial activities within any organization is paramount. This is hardly a new concept, after all, successful business owners the world over have invested a considerable amount of resources in optimizing workflow processes for decades and continue to do so today.
In the golden age of digital technology, one where connecting, communicating, organizing, streamlining tasks, and even making payments can be done at the touch of a button anywhere in the world, the opportunities for enterprises to maximize their time by freeing employers from repetitive, manual tasks and allowing them to focus on high-level activities have never been greater.
So, does this mean that we’re marching towards a fully autonomous workforce – or the advent of the artificial intelligence age? All signs point to yes. You only need to look at the growth of RPA AI to come to this conclusion. Is RPA technology good for your business or is relinquishing control likely to lead to greater problems? Let’s examine this question. Keep reading, you may be surprised to discover the conclusion.
Robotic Process Automation in a Nutshell
RPA is, at its core, is software equipped with AI and a machine learning capability that’s used to handle large scale, rules-based, structured and repetitive tasks. Think of it this way, RPA uses tools to communicate with other digital systems, capture data, retrieve information, process transactions and much, much more.
Though still in its formative generations, RPA will soon completely merge with AI and machine learning to increase its potential. Imagine it this way, robotic process automation is the body and artificial intelligence is the brain. AI grows more effectual and ‘intelligent’ as time passes by assessing the data provided by RPA. Now, instead of merely completing a programmed action, RPA technology and AI will determine the possible outcomes based on the data retrieved.
In July 2019, a study by Gartner who is the world’s largest research and advisory company found that RPA is the fastest growing software segment with a year-on-year growth of more than 63%.
How Businesses are Using RPA
Though RPA technology is still in its first iterations, commercial application is already widespread. Insurance and service call operations, for example, are already investing heavily in RPA. This is a sure-fire indicator that the diverse applicational potential of this technology has the potential to impact almost every global sector.
From employee on-boarding to claims administration, scheduling processes to expense management, the meticulous and proficient nature of RPA, combined with its ability to streamline timely processes have made it highly attractive to businesses. The simple benefit of being able to eliminate time-consuming data input, for instance, allows workforce employees to dedicate more of their time to more important areas of their role. This is as impactful as it gets for a business.
Can Digital Transformation Be Accelerated by Using RPA?
Simply put, yes. By carefully selecting algorithms, robots and human talent, RPA can accelerate the pace of digital transformation. One of the most common culprits of inefficiency in operating models is a misalignment between process and technology. Companies need a fast, cost-effective means to realign information systems, RPA AI delivers just this.
Not only that, RPA can control the flow of digital information, moving it between digital applications with finesse – and much quicker than manpower. Deferring repetitive tasks to software robots streamline productivity. What’s the result of this? The more technological power we have at our disposal, the greater our opportunities are to optimize productivity. Innovation doesn’t and will never cease. The more we innovate, the more we can integrate RPA applications.
What About RPA AI and Cyber Security?
One of the primary concerns of businesses in the modern age is cyber security. With much of our assets online, bolstering the security of these is paramount, and something that businesses across the world have continually invested much in. The good news for anyone considering employing robotic process automation is that the technology increases the cybersecurity stronghold in several ways.
For starters, RPA bars phishing performed by hackers. It provides an efficient defense from unwanted viruses or attacks through AI-powered cognitive RPA bots that safeguard information and alert data breaches.
Secondly, AI bots can easily implement General Data Protection (GDPR) regulations without interrupting a flow of information. Back-up data copies of essential processes can be created in the event of an emergency shutdown.
Unauthorized accessibility can also be eliminated. This can safeguard sensitive or personal commercial information, protecting businesses against nefarious cybercriminals. Moreover, software robots can allow only certain people access to any sensitive information and add a layer of encryption to bolster secure data usage.
So, is RPA technology good for your business? Absolutely. It’s capabilities unequivocally promote improved processes, accelerate the inevitable integration of more advanced technology and safeguard your assets. The only question for anyone not currently employing robotic process automation is…why?