Automation has been the key to helping students, educators, bankers, customers, sellers and buyers. Automation has influenced every aspect of our lives and work patterns. It is now possible to access and make bank transactions online without having to visit the branch. Students can also learn online; groceries can be delivered right at our doorsteps. Working remotely has been possible for nearly a year. Tele-consulting doctors is now possible, so patients can be seen immediately. These are just a few examples of the automation potential. The Automation Journey Triggered By COVID Organizations are beginning to see the many benefits of automation, particularly what robotic process automation can offer. Organizations have begun the automation journey because of this knowledge and the need to keep the lights on during the current pandemic. What's next? Let's look at the different levels of automation involved in this journey.
Level 1 Digitization Covid helped businesses accelerate their level-1 journey. This includes, among others: How to digitize data? How can you operate remotely? How can you remotely manage infrastructure? This is only the beginning. This is just the beginning of the automation journey.
Level2 - RPA, Workflow Automation After a digitization wave, enterprises need to shift their focus to building workflows that route the digitalized process using BPM/workflow technologies. If you're onboarding employees, this involves verifying documents and creating employee records in the HRMS, finance, and IT systems. Accessing appropriate systems is also required. A solution that involves workflow, BPM, or RPA is a great option for organizations who manage such a process. These systems allow users to pinpoint bottlenecks and determine how long it takes.
Level 3 Cognitive RPA - While level 2 is focused on augmenting human workers' abilities, level 3 focuses on automating the process. What if an AI engine or bot opens an email and extracts all the information? Then, instead of a human performing this operation, how about a robot opening the email and reading the attachments?
Cognitive RPA is a term that we attribute to AI and RPA. Cognitive RPA's power is so great that it can handle many tasks without human intervention.
These mundane tasks are no longer performed by human operators. Instead, they can focus on more important tasks like negotiating with prospects or attending to customer concerns. These bots can automate repetitive, high-volume tasks that are tedious and time-consuming. They also combine AI with cognitive RPA bots. Cognitive bots can interpret images, read documents and interpret them (e.g. The cognitive bots can read documents, interpret images (e.g. facial recognition), and even pay invoices without human supervision.
Digital workers can be used to provide 24-hour assistance for organizations. This advancement in automation and self-service can be achieved through technologies such as RPA (Robotic Process Automation), artificial intelligence (Analytics), and optical character recognition(OCR).
These are just a few examples of how insurance companies use OCR/RPA technology to streamline claims processing. AI models that recognize faces help banks customers onboard; RPA bots crunch patient data at lightning speed to create electronic medical records (EMR) systems. This makes it easy to scale up in the wake a huge increase in demand. There are many other examples. Automation companies and their software help organizations adapt to new ways of living in every walk of human life.
RPA adoption is rising According to a Forrester survey, 48% expect to increase their RPA spend by at least five percent in 2021. There is a booming market for RPA products and full-stack automated products like Blue Prism and UiPath. These low-code-driven automation platforms can help to bridge the gap created by the pandemic.
Between 2019 and 2025, the Indian RPA market will grow at a rate of more than 20%. This is due to the increasing need for automated accounting and management. The adoption of digital workers is also due to their ability to do tasks quickly and efficiently, as well as avoid errors.
RPA bots can work for 365 days in the context of the pandemic. Already, the government is using automation to accelerate COVID-19 testing, update patient records, and disseminate information via mobile apps/web. RPA bots can be used to book patient appointments based on urgency or criticality. Experts predict that RPA will see the rise of local players offering cutting-edge services to clients and customers. Hospitals can speed up patient registration by allowing selfregistration. RPA and AI can also be used to approve ID proof and photos.
RPA vendors have been increasingly embracing organic and inorganic growth strategies to increase their market share in India. This includes significant collaborations and joint ventures. BluePrism, for example, invested in India in 2019, which is home to a large number of multi-national global capability centres.
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The COVID-19 scandal brought RPA's potential to the forefront, but the sector is still achieving new heights and companies are making strides in their automation journey. RPA's many benefits have allowed it to expand into many sectors and industries, including the government, education, BFSI, and health. Just to name a few.
The pandemic has helped to lay the groundwork or platform for digitization. It is only a matter time before automation is seen in the real world by enterprises.
