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RPA’s day has come – the intelligent evolution of a productivity bot

Global spending on robotic process automation (RPA) software is expected to reach $2.9bn this year, according to Gartner, cementing the idea that the machines are here to take our jobs, but are thankfully focused on the boring, yet necessary repetitive tasks. But is this all about to change? Could RPA be about to be phased out, or does it still have a future?

According to Varsha Mehta, senior market research specialist at Gartner, providers of RPA software are now “pushing beyond a traditional single technology-focused offering to a more advanced suite of tools”. This includes low-code application platforms, process mining, task mining, decision modelling and integration platform as a service (iPaaS). The aim, suggests Mehta, is to create “hyper-automation-enabling platforms”.

Customers, understandably, want more bang for their buck. Big data has given organisations analytical headaches that, to a certain extent, are being eased by artificial intelligence (AI) and machine learning (ML). But where artificial intelligence and machine learning give organisations insight into operational and market patterns, customer habits and financial modelling, for example, RPA provides the “how”.

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Computer Weekly

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Why automating finance is just an integration game

“For the next several years, leading technology providers must play a leading role in helping enterprises navigate the current storms of disruption,” says analyst firm IDC, promoting its forthcoming round of crystal ball predictions for 2023. No pressure then.

Of course, we’ve known for some time now that technology can be a differentiator. As Deloitte suggests in its report Automation with intelligence, “Organisations that are not afraid to embrace digital disruption are more likely to survive and thrive in the world of perpetual technological change”. Throw economic change, political instability and skilled worker shortages into the mix and we might be onto something.

It all centres around building organisational resilience, through improved decision-making and business process agility capable of reacting quickly to changing needs. McKinsey puts the onus for this on chief financial officers (CFOs), claiming “finance leaders are deeply involved in determining how businesses adapt to significant changes in how work gets done – particularly in places where digital and finance intersect”.

In truth, it’s difficult for CFOs and technology leaders to know where to prioritise investments that will have the biggest impact. The reality is that improving processes and integrating financial data into tools that enable improved planning and decision-making are increasingly key to business success. Given the current economic pressures and unprecedented skills shortages, this is clearly not an easy task. It demands investment and almost certainly calls for increased automation.

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Computer Weekly

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Robotics accelerates towards new dawn of enterprise automation

Insolvencies loom large, according to the International Monetary Fund’s (IMF) recent report into the global economy. As governments ease their financial support for businesses, we are already seeing redundancies across a number of sectors, including retail, travel, hospitality, entertainment and manufacturing. With so many businesses grinding to a halt over the past few months and now looking to re-ignite interest in a difficult economy, they could be forgiven for trying to re-imagine how they operate and how, in the immediate future, they will survive, let alone grow.

Understandably, interest in robotics is growing, as advances in robotics and robotic process automation (RPA) technologies accelerate. Manufacturing, in particular the motor industry, has traditionally been a leading sector for robotics but now interest is spreading across industries and that includes some unusual applications. The ICE+FRIES bar in Iceland’s capital Reykjavik, for example, with its robot cocktail maker Toni, the robotic restaurant start-up Karakuri, or Spot the robot dog from Boston Dynamics, that patrolled Singapore’s Bishan-Ang Moh Kio Park back in May, reminding people to maintain social distancing. All illustrate the increasing breadth of automated technology but for most organisations, robotics will drive the more mundane.

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IDG Connect

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