RPA for automating tasks in business and IT
Leading tech consultancy group, Gartner defines Robotic Process Automation as
The software to automate tasks within business and IT processes via software scripts that emulate human interaction with the application user interface.
Championed in financial services, this kind of automation is now becoming the norm across a wide range of industries. IT, Telecoms, and the travel and hospitality industries have implemented automation to streamline processes and help teams operate more efficiently.
In banking, financial services & insurance sector
In terms of industry focus, the Banking, Financial Services & Insurance (BFSI) sector is dealing with the demand to increase efficiency in processes whilst struggling with a shortage of skilled professionals.
According to Grand View Research, machines will capture over 15% of tasks in BFSI sectors over the next few years. With the demand for RPA in the banking and financial services field, it is expected to see a sharp growth exceeding 40.1% over the forecast period between 2020 and 2028.
In addition, research is showing that the Impact of COVID-19 has triggered organisations to adopt cognitive customer-facing implementations and automate their business processes to provide efficient customer services at all levels.
This trend is expected to surge as companies that had implemented RPA have successfully remained agile in the competitive environment.
Read more: Grand View Research