McKinsey published its prediction that Intelligent Process Automation technologies like Robotic Process Automation or more closely known as RPA, has the potential to cause an impact on economy up to $6.7 trillion by the year 2025.
Considering this number, it is safe to say that RPA is enjoying some rapid growth, which also justify the fact that it can grow to become of the technological platforms which can lead the market and become a benchmark for positive outcomes in business.
It all seems like a new technological advancement has taken the world by storm but where did it originate from? What are its roots? Does it share its origin with Traditional Automation? If so, what are the similarities and divergence?
To have an in-depth understanding we need to go back to the start of it all.
The Big Bang of RPA Evolution.
RPA is considered by many as a technology game changer, however, there’s been an ongoing debate if it should be taken as something unique or derivation from earlier innovations. Lets understand what came before it:
This is one technology which came into development much before the advent of Internet. In those days it was used as a bridge between current and legacy systems which were incompatible. It has been beneficial in many aspects but has been limited to certain standards.
This terminology finds its existence during the 1920s at the time of Industrial Revolution but it came into frequent usage during the 1990s. They started eliminating manual intervention for data entry and increased rates of order fulfillment.
This technological advancement came into existence in 1956. It refers to the capability of computers to perform tasks without the need of any intervention human control or intelligence. These systems mimic human decision-making capabilities with utmost accuracy and precision.
Rise of RPA
Now we can find fragments of this kind of capability in various technological instances but the real emergence can be dated to the earlier phase of 2000s. Now it relies on Screen Scraping, Artificial Intelligence and Workflow Management and elevates its capabilities in a significant manner.
But in totality it provides more benefits to the clientele. It is advance enough to avoid the need of coding a development, rather it has a user interface which allows developers to create their automation by simply drag and drop functionality. Hence it is free of any coding knowledge. Apart from this there are other enhancements like Optical Character Recognition (OCR) which can replace archaic methods of screen scraping.
RPA can retrieve information, understand patterns and is smart enough to adapt to changes, which in another perspective is quite like Artificial Intelligence. If these two technologies are clubbed together, it can result in emergence of complex capabilities.
If we look closely, the co-ordination between all these technologies point out to the possibilities of RPA in the future.
So, where are we headed with RPA?
We have come very far from the early days of archaic technologies like screen scraping and are moving very fast in the new age where RPA transforms the way companies approach operations and businesses. It’s superiority above other technologies provides great advantages for streamlining and scaling processes and keeping in mind these benefits, this technology will only see more upgradation of innovations.
Ranging from Machine Learning to Cognitive Bots, this technology will enable computer systems to face errors which have not been forecasted and adapt and execute despite these contingencies. This will not only allow judgement but also creativity which will be applied by companies in their strategies of adopting the path of automation.
Days of Intelligent Automation are right at the horizon and it will make the future of business more responsive and agile, while keeping up with the pace of ever changing world.