Robotics has given rise to an automation boom around the globe. In 2017, World Bank estimated that about 69% of jobs will be lost due to automation. This has been an ongoing threat for a couple of years now. The increase in job layoffs has grown considerably high since 2016. In India itself, IT giants like Cognizant and Infosys have already been in the news for reducing their headcounts. Supposedly 6000 employees lost their jobs to automation at Cognizant and around 9000 suffered the same loss at Infosys.
Robotic Process Automation – A New Hope
In January 2018, UiPath, a Bangalore based software company has predicted that by 2021 nearly 2 lakh jobs will be generated due to the Robotic Process Automation (RPA) boost. A new genre of jobs will be created from this technology. Speaking directly to the IT Sector Employees, either you can sway ahead with the RPA tide or be swept away by it. The choice is yours. We must all be aware by now that with the growing robotics and artificial intelligence technologies, resistance is futile.
But What is RPA?
RPA is a software that has artificial intelligence and machine learning capabilities. It is steadily replacing human interactions with the software. With RPA software, varied tasks of transactions, logging in, query solving, complex calculations, logging out, etc. can be carried out with fewer errors at a much faster rate. Since RPA can boost a company’s performance by digitally transforming their business, a lot of companies are already adopting this software.
Benefits of RPA
• Reduced Manual Labor: RPA is considerably reducing the requirement for people to perform high-volume IT support tasks.
• Higher Speed: Completion of tasks in a fraction of seconds due to high functioning robots, in turn, will reduce time at an exponential rate.
• Smarter Working: RPA can mirror cognitive functioning of the human mind – learning, understanding, reasoning, perception & insight.
• Fewer Errors: Tasks like customer service can be carried out with fewer mistakes & better perception.
• Staff Productivity: Since all mundane tasks of transactions & operations are allotted to the software, employees can work on innovative ideas without feeling jaded.
Although it may sound like RPA is stealing jobs, it is in fact just eliminating the need to perform mundane tasks by employees.
Global Companies Talk
Blue Prism, a UK multinational software corporation pioneering in RPA software, has committed to businesses to free up their best people to really be their best people. It boasts of creating an RPA software which is versatile, reliable, flexible & trainable.
Companies like UST Global, a US-based leading digital technology services company, has already gone big with providing RPA solutions. It has informed us of RPA applicability in retail sector – e-commerce and supply chain. As per UST Global, RPA also has its possibilities for implementation in HR, finance & accounting services.
Where Should You Start As A Business?
The first step is to get educated. Approaching the pioneering RPA software-solution providers is one way to go. Online research is another way. Obtaining knowledge from companies and experts who have already gained sufficient experience in RPA is an additional practical approach. Finally, we believe that having an action plan for the big change in company work-flow is of utmost importance. Engage the IT staff sooner than later. Keeping them under the dark will only cause friction within the work-flow. Areas of highest impact must be handled objectively. Be prepared for a financial shift, just in case.
RPA is creating a hopeful shift in the IT world with its excellent capabilities. As aforementioned, employees will be motivated to work on novel and innovative ideas without feeling jaded. Strategically speaking, once businesses with different and complicated systems adopt RPA, it will guarantee an effortless flow in the company’s day-to-day operations.