After mechanization in the 1760s (First), mass production in the 1800s (Second) and automated production in 1970s (Third), the Fourth Industrial Revolution is building upon the Third with the rise of cyber-physical systems. The increase in data volumes, low cost computational resources, new forms of human-machine interactions and advanced analytics are all driving this digital transformation. Hardware and software robots have begun to augment human workflow, making it more efficient and effective. Industry 4.0 is radically changing processes and is promising significant cost reduction, increased production and higher customer satisfaction.
Software robots in the workplace
How long does it take to realize productivity benefits and cost savings from a Robotics Process Automation (RPA) implementation? This is the number 1 question for many looking to deploy RPA and its Digital Workforce. To answer this and other critical RPA related questions, the Everest Group studied 52 enterprises and compiled their findings into the “Enterprise RPA Adoption Pinnacle Model™ Assessment” report (download full report here).
Continuous improvement and automation is top of mind for enterprises and industry analysts today. Robotic Process Automation (RPA) is an increasingly important strategic initiative - starting with automating repetitive, rules-based processes. Among those that have already implemented RPA, automating unstructured processes like emails and customer interactions
is the next step.
The Robotic Process Automation (RPA) market is exploding. Sales of RPA software between 2016 and 2022 are predicted to rise almost 60% annually at a time when enterprise software budgets are increasing at just 4.1% each year.
A lot of noise and confusion surrounds cognitive automation due to marketing FUD (fear, uncertainty, and doubt) being thrown up by different vendors. In this blog, I want to share insights Automation Anywhere has acquired after participating in hundreds of proof-of-concepts (POCs) and dozens of successful cognitive automation implementations with our customers.
As my colleague Derek Toone noted in a recent blog, many enterprises that attempt to transform their operations using a digital workforce hit an ROI brick wall when they start to scale their RPA initiatives. The chief culprit is their failure to achieve “bot velocity,” defined as the continuous cadence and pace at which automated processes are developed and placed in production using bots.
One of the most critical enablers of bot velocity is a well structured and staffed RPA COE (Center of Excellence).