Robotic process automation is an application of technology aimed at automating business processes. By developing algorithms on a special platform, a developer gives clear instructions to the robot configuring it to perform required tasks.
And if the machine learning functionality is added these instructions may become vaguer and the robot gets more freedom of operation.
It all sounds very impressive, but it is necessary to explain why the world’s largest companies are extensively Implementing RPA to their business processes.
RPA leaves no space for an error.
As it uses predefined rules, it cannot deviate from them while a person can overlook a tiny detail that will affect the whole process. RPA helps to cut down the company’s expenses. Once invested into the development of a high-quality robot, the company will not need to pay it salary, benefits, medical insurance and etc.
Though RPA market is still small, it is steadily growing. By 2020, the expenses for RPA will reach USD 1 billion (according to the estimates of Gartner, world’s leading information technology research and advisory company).
By this time, 40% of big companies will use RPA tools. Add to this information the demand for artificial intelligence and machine learning and you will get the idea of the growth prospects.