Top 6 RPA Predictions for 2020
Robotic Process Automation (RPA) growth has not slowed down. A 2019 Automation Anywhere-commissioned Futurum report found that more than half of all North American businesses have already implemented some type of automation technology. And 25% of those that haven’t are in the process of doing so.
Companies are jumping on the automation bandwagon to reap the benefits of improved efficiency, reduced operational costs, faster business outcomes, and increased agility — all of which result in competitive advantage.
We’re sure to see more changes in 2020 as the technology continues to evolve. Here are our top six RPA predictions you can expect to see this year:
1. Intelligent document processing goes mainstream
The intelligent document processing (IDP) market is projected to grow 70-80% annually and exceed $1 billion in 2020, according to Everest Group. This growth is being driven by the success of products such as IQ Bot that have been adopted by hundreds of customers to automate business processes that involve documents.
IDP uses AI technologies such as optical character recognition (OCR), computer vision, natural language processing (NLP), and machine learning to capture, categorize, and extract unstructured data from documents (think invoices and purchase orders).
2. RPA becomes the orchestrator for AI
Businesses have been combining RPA and artificial intelligence (AI) in creative ways to automate increasingly complex processes — from using chatbots to understand customer intent and sentiment with RPA bots to fulfill a request, to automatically estimating car damage from accident pictures and approving claims.
RPA is the glue that is helping enterprises orchestrate the workflow of business processes across multiple cloud-based AI platforms to drive hyperautomation.
3. SMBs lead RPA adoption
Cloud-based offerings and high competition in the RPA space will reduce the costs associated with RPA implementation. As that happens, small to medium businesses (SMBs) will lead RPA adoption in 2020 in an effort to streamline processes and increase efficiency. RPA as a Service will remove friction from adopting RPA by businesses of all sizes.
4. RPA for everyone
RPA will no longer be limited to trained developers. Rather, anyone will be able to use it. Advanced technology will allow business users, IT workers, and developers to use drag-and-drop functionality to automate processes. And web-based clients will enable enterprises to roll out RPA to all users on any platform (Windows, Mac, or Linux).
Plug-ins for workforce productivity solutions, such as Microsoft Excel and Word, and user-triggered bots (also referred to as attended automation) will make it easier than ever for anyone to improve their productivity with RPA.
We’re already seeing the democratization of RPA in products such as Automation Anywhere Enterprise A2019, which provides a truly consumer-like experience.
5. RPA analytics become table stakes
Once enterprises automate their business processes, they’ll realize RPA bots have access to all the data associated with a process in a single location and are, therefore, the logical place for gaining insights into business processes. This year will finally be the year embedded RPA analytics will start democratizing business process insights.
6. RPA security gains attention
The California Consumer Privacy Act (CCPA) officially went into effect this month, furthering the need for companies to implement and maintain strong data security practices and measures to stay in compliance.
Computer systems are talking to each other, and it will be imperative to ensure the right person has the right information. Identity management will be a key area of focus. RPA can be used to identify threats through proactive monitoring and automated alerts.