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Robotic Process Automation: Combined with AI to Make Intelligent Automation
Businesses are automating their processes to become more efficient and responsive. A key component of automation for many businesses is RPA (Robotic Process Automation). RPA is the automation of repetitive, typically time-consuming, tasks that would normally be performed by humans as part of a business workflow.
Chip Wagner, CEO of ISG Automation, said that “RPA can touch the back, middle, and front offices with dramatic reductions in cost, increases in speed, and improved compliance.”
Ken Weilerstein, an analyst at The Analyst Syndicate, said that “when companies need to scale-up rapidly, RPA can automate manual work processes more speedily and at lower cost than by hiring and training new workers or outsourcing the work.”
The RPA market will reach $25 billion by 2027, according to estimates by Grand View Research.
RPA is increasingly being combined with AI tools like machine learning and deep learning. The result is being rebranded as ‘Intelligent Automation’.
Francis Carden, vice president at Pegasystems , said that “I think of computerization as the automation of the way things were done manually, and RPA is just automating computerization. It’s still the way things were built to do, what used to be done manually. Digital transformation or intelligent automation is about automating the way to do it properly. Now you can. You couldn’t do it that way 10 years ago. The technology was too hard, right? Big projects. Now you can build things in days and weeks and months that used to take years, and it’s transforming the game for the entire industry in every sector.”
