BUSINESS TRANSFORMATION
Top 7 RPA trends to dominate in 2023
Twenty years ago, shopping from home was a fantasy. Today, we have Amazon and other shopping portals. Isn’t technology fascinating? What we dismiss as impossible today, technology turns it into reality in a few years.
I am sure the idea of training machines to perform human tasks was viewed with the same suspicion. Today, robots can read screen content, complete words, navigate systems, and extract data. Not only can they do the tasks, they are capable of accomplishing them at a much faster and more accurate rate than humans can.
Hello and welcome to Robotic Process Automation (RPA)! It looks like a sci-fi world, but it's as real as yours and mine! Let’s dive in the RPA trends.
7 RPA trends for 2023
Today’s RPA solutions can automate rule-based tasks. But the future holds more ambitious goals for RPA. Here are a few RPA trends:
1. Increased adoption of managed RPA
RPA's technical complexity has historically been a barrier to its adoption. To address this, several RPA service providers have emerged to offer low-cost managed RPA services. This saw a surge in managed RPA usage in 2022, and this trend is expected to continue into 2023.
2. Hyper automation — Intelligent RPA solutions augmented by AI, ML
As user requirements and customer expectations evolve, RPA must progress to take on tasks of a cognitive and semantic nature.
Natural Language Processing (NLP), speech recognition, and other ML and AI techniques will augment RPA in the coming years.
For example, an RPA bot will be able to extract data straight from text or speech and automate certain tasks for consumers.
By 2023, intelligent and smart RPA will help to bridge automation silos, resulting in more seamless process automation and departmental interconnection.
3. Increase in RPA CoE establishments
The future will require organisations to establish their own Centre of Excellence (CoE) to oversee RPA deployment. A centralised group of IT professionals, RPA consultants, process managers, and functional experts come in handy while scaling, standardising, customising, and modifying RPA technologies.
Experts predict that several RPA CoEs will be established by 2023 to improve efficiency and assist organisations in developing an organisation-wide RPA strategy.
4. Increase in No-Code / Low-Code Tools
Businesses are becoming more reliant on automated systems. However, having competent technical experts to build those systems takes time and resources. Few people have the luxury of a crew of computer professionals to automate the old methods. No-code and low-code tools come into play here. Persons with limited technical skills will almost certainly pioneer many future technological improvements.
Businesses will train their employees to use these technologies once they have gained widespread acceptance. The demand for hyper-automation skills will grow in tandem with the demand for Microsoft Excel skills.
5. Digital Twins
Digital twins will likely be the most prominent hyper-automation trend shaping the market in 2023. The digital twin industry is expected to reach a staggering $48.2 billion by 2026, rising at a compound annual growth rate of 58%.
But first, what is a digital twin? Simply put, it is a virtual version that accurately reflects a real-world process or object. With digital twin prototypes, firms can monitor equipment and processes in real-time and analyse performance data that shows how a particular part or the entirety of your plant is functioning.
Manufacturing, healthcare, real estate, supply chain, and retail are already using this technology to analyse risks, monitor performance, and predict maintenance needs.
6. Automate Cybersecurity
RPA can help tighten a company's cybersecurity controls because of the capability of swift responses in the face of threats.
AI-powered RPA bots can be trained to monitor the network both to prevent and detect cyberattacks.
This way, they can eliminate threats promptly and rapidly notify IT security staff of more serious risks.
7. Opt for RPA-focused MSPs
Businesses are looking to managed service providers (MSPs) to install RPA technologies at a low cost. MSPs provide RPA-as-a-service and automation capabilities to businesses that lack RPA infrastructure. This model has a clear cost advantage over the traditional approach to deploying the solution.
8. Chance to make a difference
Many large corporations have already successfully implemented RPA and are benefiting from it. This innovative technology is transforming the way various enterprises and business models are run.
However, the technology has so much more potential that analysts are speculating that it is establishing a second parallel economy that connects to the physical economy via concurrent systems.
RPA of the future—with its cognitive abilities—will provide greater benefits to organisations, their workforces, and their customers.
Time to make your business a part of the biggest change of our tiqmes!
*For organizations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed on organizational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like a living organism, will be imperative for business excellence going forward. A comprehensive, yet modular suite of services is doing exactly that. Equipping organizations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organizations that are innovating collaboratively for the future.
