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Thursday, February 14, 2019

Many industries will be reorganized by Robotic Process Automation




Robotic ProcessAutomation (RPA) is allowing businesses to automate certain mundane tasks and business processes with the aid of machine learning algorithms and robotics. The way it works is that computer software or a robot can watch the way employees interact with a GUI and later emulate these actions in an automated process.

There are clear advantages of this approach and many CIOs are jumping on the bandwagon and implementing RPA in their companies’ workflows. For one, robots can always be on and do not need to leave the office or sleep. For two, they are much more cost effective and can perform tasks over a long period of time.

What is very interesting about this process is how far robots, or robotic software, have gone. Today, they can move files and folders around, copy and paste files, fill out forms, run applications and extract both structured and semi-structured data.

These are just some examples of what RPA is capable of today and it will only keep improving. There are also many industries it is being utilized in. For instance, the insurance industry is starting to leverage it for various tasks.

RPA can be used for insurance fraud detection and risk assessment by analyzing data in order to predict outcomes. Alternatively, it can also be used to guide the development of new products, detect risks, conduct damage assessment or identify billing anomalies.

This is just one industry where RPA is making its mark, but one of many; other examples include banks and retail. It is also being often seen as a stop gap to full-on intelligent automation (IA), where robots make actual judgement calls. There is already a lot of murkiness in terms of how much machine learning can be implemented to still be called RPA vs intelligent automation.

RPA is also said to work alongside other technologies the best and needing some form of monitoring by IT and business. It can automate certain tasks and reduce companies' overheard. Thus, for now, we should not worry about it taking too many jobs away, but create new ones or new opportunities for companies in order for them to focus on their innovations and creativity.

Although I also do understand the controversy of machine learning, automation, robotics and implementations of processes such as RPA. The reason being is it may force certain sectors, such as telecommunications, to rely almost exclusively on robots and drive the employees in that industry out or force them learn new skills and get more training. This, however, is a fact of technological innovation and evolution and has been taking place since the industrial revolution if not earlier.


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