RPA Set to be a $1.3 Billion Dollar Industry in 2020 

January 3, 2020

What’s next for RPA in 2020?

Robotic Process Automation doesn’t sneak up on people anymore. RPA has emerged as a hot topic in IT as businesses start seeking ways to free up their employees for high-priority tasks. Closely associated with Artificial Intelligence (AI) and automation, RPA has grown in recent time, and is highly likely to outpace the expectations placed on it for this year. There are stats that advocate widespread interest of IT and business circles in RPA already.

Many tech trailblazers predict a bright future for RPA as more and more companies are using RPA to test AI in their businesses.

Key RPA trends that deserve attention

RPA adoption will grow

While RPA has been garnering wide attention of businesses for some time now, the actual adoption is now picking pace. This has been reflected in forecasted spending on RPA software which is right on its way to become a billion-dollar category in near future. Gartner anticipates RPA to become a a $1.3 billion-dollar industry in this year, whereas, Forrester has predicted the RPA software market to hit $2.9 billion in 2021.

A Year of Reality Check for RPA Compatibility

Although 2020 will witness wide adoption of RPA, the technology is likely to undergo a reality check as well. Enterprises pursuing digital transformation will become more aware of the differences among processes, an array of automation technologies available, and the need to use the right tool for job. To sum up, as adoption grows, so will the reality checks, primarily in the organizations that have set over realistic expectations from the RPA capabilities. This will be equally applicable on the enterprises that don’t have a solid grasp of their own processes. Enterprises will begin to better understand the difference between AI and RPA in this year.

Intelligent Automation will take the centerstage

There are high chances of intelligent automation and variations like ‘cognitive automation’ garner all new limelight as we slide into a brand-new year. Enterprises are gaining real understanding of the limits of standalone, rules-based RPA. In the coming year, tech giants will augment their initial RPA efforts by bringing together rules-based and AI-powered automation by following a fully integrated intelligent automation approach. This fresh outlook will enable them to find new value in terms of workforce capacity as well as operational efficiency.

Crossover Between CIOs & HR Ahead!

The crossover will deepen between the chief human resources officer and chief information officer roles. With the RPA big picture attaining some clarity in the coming days, the technology will transform all the job roles right from the entry-level all the way to the C-suite.  This is because an increased number of enterprises are achieving high levels of efficiency as well as productivity. The technology will lead to a new crossover between the chief human resource officer and chief information officer roles as organizations will meld human and digital workers. For smooth execution of robust cognitive automation strategy, enterprises will require a people-first approach that is centered on work, roles, and responsibilities redistribution. This will further demand new levels of collaboration between CIOs and CHROs.

RPA Bots will Emerge as Intelligent Guardrails

More and more organizations will leverage bots as intelligent guardrails to ensure accuracy and eliminate any potential risk of internal data leaks. Adoption of RPA bots will help alleviate human error as they are fine tuned for handling data-intensive tasks efficiently and without any scope of error, saving enterprises valuable time, reducing security risk, and enabling resources to focus on high-priority, and more fulfilling work.

If by any chance you are not exposed to the endless business opportunities of disruptive technologies, PureSoftware can give you a thorough ride. Be it Artificial Intelligence, Robotic Process Automation, DevOps, or Analytics, and Cloud among others, PureSoftware has it all. Join hands with RPA experts and re-engineer your business processes to maximize RPA benefits.

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