The market for software for robotic process automation will increase by 41% annually through 2020, predicts Gartner. The major tech firms, including Google, Amazon, Apple, and Microsoft, are making significant investments in RPA and machine learning. Robotic process automation has thus been widely implemented during the past few years in a variety of industries, including retail, utilities, finance, government, etc. Despite this development, there are still a lot of misconceptions about RPA's capabilities and operation. But let's first clarify a few things before dispelling these myths:
What is Robotic Process Automation?
RPA is a software robot with AI and machine learning capabilities that are designed to automate high-volume, repeatable business activities. One of the most cutting-edge technologies, it automates routine and rule-based processes the way humans would, saving time and resources. Do you still have concerns about RPA?
Here are certain RPA fallacies that need to be debunked once and for all.
RPA stands for a humanoid robot.
Robotic process automation combines both the words "robotic" and "process" in its definition. RPA stands for robotic process automation, which is software that automates manual operations and optimizes business processes. RPA automates highly structured, repetitive, and frequently labor-intensive activities.
2. RPA Is Pricey
RPA increases ROI and significantly lowers internal costs by automating complicated, high-volume business activities. Additionally, bots are always active, boosting the efficiency of your organization. In light of the long-term advantages and returns, RPA can, depending on the size of the organization, recoup the cost of the investment within the first few months or years.
RPA May Lead To Job Loss
Another misunderstanding regarding RPA is that it will eliminate all employment, especially front-line positions. Both of these statements are false. Humans have a tendency to see new technology as a threat to themselves whenever it emerges. RPA is truly intended to reduce human effort and augment it.
RPA reduces the amount of work that employees must do by automating tedious and repetitive processes.
RPA May Lead To Job Loss
RPA reduces the amount of work that employees must do by automating tedious and repetitive processes. They are able to increase their efficiency and fully utilize their "core skills" as a result. RPA is now being used to automate many business activities that include rule-based tasks, including data entry, customer assistance, invoice processing, etc. In light of the potential for job loss, RPA will only replace workers whose tasks can be completed with little to no intelligence.
5. RPA Does Not Necessarily Require Human Involvement
We frequently have misconceptions about what RPA actually means and how it operates. RPA is a somewhat automated system, however, it does entail automation. Automation jobs must be added manually, bots must be programmed, and they must be managed appropriately. Numerous jobs are automated and carried out by RPA in accordance with the program, but occasionally humans must add the final touches. Other advantages of automation using RPA include time management, corporate operations efficiency, and high task accuracy.
Conclusion
The commercial technology that has received the most attention recently is robotic process automation. There is no doubt about its rapid acceptance because of its scalability, precision, and quicker implementation, despite the numerous fallacies that surround it. A lack of awareness and apprehension about automation has led to criticism of this technological breakthrough. Companies can only profit from RPA if they are aware of what it can and cannot achieve.
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