How is robotic process automation working now? Also, what are the applications of RPA in different industries?
Read this article to find out.
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What is robotic process automation?
Robotic process automation means using software robots. These robots do tasks that people do.
If you search on the internet for examples of RPA, you can find a wide range of routine operations. For example, RPA can automate many “copy-paste” activities.
What are the applications of robotic process automation in business?
Automation works on rule-based tasks. Because of that, studies show that 70-80% of responsibility can be potentially automated with RPA tools.
But, it doesn’t necessarily mean that automation will replace all jobs as a whole. In fact, automation can create and improve jobs in the future.
There are several industries that will benefit from it more compared to others. Here are some of them.
RPA in Banking and Financial Services
One of the first industries that adopted automation is banking. For one thing, they automate operations that involve security and manual processes.
For example, we see banks that automate anti-money laundering, account opening, and inquiry processing.
They do this because these tasks are tedious. And automating them fast will give value to the organizations.
Most banks also automate report generation. So they can reduce mistakes and complete the tasks quickly.
RPA in Insurance
The insurance industry also has a lot of repetitive processes. That’s why they adopted automation.
True, they lag behind banking in automation in general. But we can see successful automation in insurance as of today.
For example, insurance companies automate the processing of claims. They also use RPA in managing policies and regulations.
RPA in Healthcare
Healthcare is another industry that embraced RPA. For one thing, RPA software offers accurate completion of tasks.
And as we know, healthcare companies need accuracy. By doing so, they can provide an accurate diagnosis of patients’ health.
That’s why we see large hospitals across the globe that use robotic process automation.
Most hospitals also automate the managing of prescriptions and other processes. As a result, they see fewer errors and better patient service.
RPA in Retail
Retail also use robotic process automation. In fact, they are investing heavily in automation tools.
One reason is that a want to enhance both customer and employee experiences. By using RPA applications, retailers can detect fraud quickly. They can also manage orders more efficiently.
Aside from that, they can attend to customer feedback quickly. Thus, it improves customer relationship management.
What is the future of Robotic Process Automation Working?
If you ask experts about how the future of RPA will work, you’ll hear a lot of opinions. Today, we know that robotic process automation is developing rapidly.
But, we can see more enhancements in the future. How so?
Despite the fear of robots replacing jobs, many businesses will accept this technology. That’s why more organizations will experience the benefits of RPA.
We will also see more technologies that will combine with RPA. One of these technologies is intelligent automation.
In the future, we will see much wider opportunities for IA helping RPA. Really, the future of technology lies with RPA.