Moving forward, we will see mass adoption of tools like chatbots, straight-through processing and robotic process automation (RPA) for routine, repetitive processes.
Robotic process automation (RPA) provides integration of software robots with business processes to automate any complex or repetitive process. It is used to modernise customer service, improve business processes and enhance operational productivity. RPA works best in task-centric environments, where process automation has evolved into powerful bots to achieve the desired effect repeatedly.
RPA can evaluate the potential of business-related automation and further prove its value to organisations. It can help enterprises future-proof their businesses with greater speed, scalability and security through hassle-free and rapid process automation.
RPA as a managed service powered by standard cloud infrastructure and a flexible service model meets diverse enterprise needs and accelerates time-to-value. It leverages software bots working side-by-side with employees leading an intelligent digital workforce, to automate repetitive, complex tasks—in turn, liberating humans to use their talent to solve business challenges.
RPA capabilities include easy-to-use design interface that allows users to easily record screen actions and design sophisticated end-to-end RPA workflows, visually or with code. It combines user interface (UI) automation with application programming interface (API) and other integration methods to connect business processes spanning old and new applications. Its robots scale as per workload changes, making it possible to run thousands of robots at once. It provides a centralised dashboard to manage the robots that have unique IDs and encrypted role-based credentials. Advanced object recognition technology detects UI changes and automatically adapts as needed, saving time on maintenance.
Robots are modernising the way of administering business processes, IT support, workflow, remote infrastructure and back-office work.
RPA is likely to become a digitisation strategy to transit to the next level of innovation and technology in banking. It will enable transferring repetitive tasks to the digital workforce and reskill staff to deliver improved efficiency, productivity, security and enhance customer experience, driving cost efficiencies and streamlining its operations.
For example, IQ Bot 6.5 can auto-detect, read and process a variety of complex, low-resolution documents and emails in 190 languages. Users can even access IQ Bot from a mobile device.
Demands of emerging technologies like RPA, digital twin and digital transformation introduce new talent challenges for the security function. “Explosive growth of the RPA industry has created tremendous demand for highly-skilled developers to deliver innovative intelligent automation capabilities,” says Prince Kohli, chief technology officer, Automation Anywhere.
He adds, “Investing in retraining and preparing the workforce for the future is an urgent business priority.” Developers can create and bring new automation solutions to the market faster. Technology vendors can use the platform to build bots with skills directly related to their service offerings.
Moving forward, we will see mass adoption of tools like chatbots, straight-through processing and RPA for routine, repetitive processes.
Enterprises often face challenges with extensive involvement in RPA management that diminishes the focus on process automation. By the right process selection and immediate provisioning of infrastructure, enterprises can get access to real-time monitoring of automated processes. Intelligent automation, a combination of artificial intelligence (AI) and automation, has the potential to unlock the next revolutions in computing, energy and transportation.