Robotic Process Automation (RPA) is still considered an exciting and rapidly emerging technology in 2023 and into 2024. Here are a few reasons why:
– Growth – The RPA market is experiencing tremendous growth, with forecasts predicting it will reach $13 billion by 2023. More companies are adopting RPA to automate repetitive back-office tasks.
– Advancements – RPA tools are becoming more sophisticated, with capabilities like machine learning, natural language processing and computer vision being incorporated. Leading RPA vendors are enhancing their offerings.
– Expanded applications – RPA is moving beyond basic process automation into areas like customer service, HR, and higher-value cognitive tasks. RPA is also being integrated with other technologies like AI and analytics.
– Intelligent automation – Rather than just automating tasks, RPA is being used for “intelligent automation” – gathering data, analyzing data and using it to drive optimization and improved decisions.
– Ease of use – Modern RPA tools are becoming easier to use and implement, allowing non-technical staff to automate workflows. Low-code RPA options are also emerging.
While it has been around for a while, RPA still has a lot of runway ahead to penetrate untapped markets and continue advancing in capabilities. The growing adoption and evolution of RPA ensures it will remain an exciting technology to watch. Some of the leading RPA software vendors according to Gardner include UiPath, Automation Anywhere and Blue Prism.