RPA (Robotic Process Automation) – Advancement in Technology
The Market of Robotic Process Automation (RPA) is estimated to reach USD 2,467 million by 2022 by a recent study, at a compound annual growth rate of 30.14% between 2017 and 2022.
RPA innovation took place in the 2000s. The first RPA product was created in 2003 by Blue Prism.
What is Robotic Process Automation?
It is a process in which an application is configured with the computer to interpret applications for performing various tasks such as processing a transaction, manipulation of data. RPA tools are also used which are the software configured to get the things automated.
RPA deals with the application of smart software, which carries out repetitive tasks of high volume, which takes a lot of time for humans to accomplish.
Different sectors apply Robotic Process Automation Application such as:
- Finance and Accounting – Managing the accounting process is a tedious task, done manually. RPA technique is applied, so that work can be done more efficiently and effectively in less duration.
- Human Resources – RPA can help the HR group in performing many tasks such as payment processing, and benefit distribution. With the help of an RPA bot, one can learn to create, correct, and take care of the task automatically.
- Reducing Organizational Costs – If the tasks are automated, it saves a lot of time and cost. With the help of RPA transactions can be completed without any human intervention.
- Product Development – Artificial Intelligence, which involves RPA can enhance the features, functions, and performance of the products while doing product development.
- Customer-facing Activities – RPA helps the traveling industry a lot by using automation. For example, automating the process of canceling airline tickets and issuing refunds that save time and cost.
Above, we have seen the use of RPA applications in different sectors. Now, let us look at Humanoid Robots. Humanoid Robot is a robot with its overall appearance, and experience based on the human body. They cost between 20,000 dollars to 50,000 dollars depending on the options and customized appearance. The robots have a head, body arms, legs, which are the same as the human body. It can sense its surroundings, and required measurements with the sensors embedded in it.
One of the successful instances of a humanoid robot is a Sophia robot, which was activated on 14th February 2016 by Hongkong based company, Hanson Robotics. The robot is capable of displaying human-like emotions, expressions, and can interact with people.
Another innovation that is served to us by robotic process automation is lego Mindstorms. They are robots mainly designed for kids to learn the coding skills used for robotics of any category. Kids or students can program, and control LEGO NXT, VEX, RCX, using a programming language known as C.
One has to push the limits to gain, and through RPA technology many sectors are already achieving the goals. The new technology will surely make the future brighter for the world.