What is the future of robotic process automation?
People have been debating a lot about future of RPA. Some believe that RPA doesn't have a future, it's just a technology bubble will disappear soon and some believe it's an evolution in the current world.
RPA has a huge potential to grow and will capture at least 20% of the blue color job market share, 5 years down the line. If you are wondering how, most of the blue color jobs are either rule based, repetitive or small decision making tasks. And RPA is meant to automate such tasks.
These robots will become the virtual workforce near future and people managers will not be just managing people alone, they will have to manage robots as well. All most all the big companies are hiring RPA developers to name few Accenture, JP Morgan, E&Y and etc.
We would have seen robots taking over the world many times in Hollywood movies and would have enjoyed the drama. But the pace at which the automaton is going through in every fields, it seems that the day is not so far now. In manufacturing fields, robots have already been taken place so well and eliminated human need to a large extent. Labor categories are most effected till now because of robots.
There are many IT companies which were working from many years to develop a tools through which one would be able to automate vast range of repetitive clerical tasks just like a human. Now those tools are in mature stage. Few of those providers are below
- UI Path
- Blue Prism
- Automation Anywhere
Above providers have been able to develop a very sophisticated tool, which can easily create a code to interact with existing software systems just by using simple wizards. Most of these companies are providing training and creating a large pool of developers in their technology to create a workforce to implement robotic automation.
RPA is still in early stage and many big organization are in study phase, there are many areas like banking, accounting and insurance where RPA can be proved as Gold Rush for these organisations. All of these sectors are looking for cost effective solution, faster and lesser error prone process. As many of vendor are now in mature stage of their tools, these sectors are working on trial. Many of big companies have partnered with above mentioned vendors and working on implementing RPA in few sectors now. If we will see the trend of interest on RPA below, we can see how it is taking momentum in US and India.
If we look at growing interest of RPA by various organization and sectors, It is really a good time to get into the business. The technology is probably only at 1% of its ultimate capabilities at present. If you already have good understanding and experience in BPM/BPI (assuming most of the process in organization are not documented) and also you grab some certification in RPA, you would be able to grab good opportunity and salary once the trial in various sectors will be successful.
So be ready for the next storm of automation in advance. You would already be aware of that value of product or knowledge is depend on supply and demand. And as mentioned earlier at present we have been able to develop only 1% of capability and good momentum of interest is being build up so there is gap of supply and demand. So be ready to take the benefit of low supply.