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Robots are in the office and taking on tasks that have traditionally been repetitive, mundane and tedious. In particular, this includes tasks like data entry and manually moving data between applications.
Automation of these mundane tasks is called Robotic Process Automation (RPA). The RPA market saw a rapid 63 percent annual growth in 2018 and more of the same is expect in 2019, according to Gartner. Banks and insurance companies are the leading adopters of RPA.
Fabrizio Biscotti, Research Vice President at Gartner, said that “RPA software is appealing to organisations across the world, due to its quicker deployment cycle times, compared with other options such as business process management platforms and business process outsourcing.”
Cathy Tornbohm, vice president at Gartner , said that “end-user organizations adopt RPA technology as a quick and easy fix to automate manual tasks. Some employees will continue to execute mundane tasks that require them to cut, paste and change data manually. But when RPA tools perform those activities, the error-margin shrinks and data quality increases.”
The RPA market is currently dominated by relatively small specialty software companies, but Gartner expects this to change over the next few years, as larger companies like IBM, Microsoft and SAP partner or acquire these businesses.