Technology has been authentically considered to be one of the biggest gifts for mankind. Even in times of a globally ravaging pandemic, people have connected to help each other find resources, for the sake of finding their daily bread, and so on. Of late, there is an ongoing buzz about the developing software technologies around the world, since these are working to revolutionize the world around us.
Some of the most trending software technologies today include AI (artificial intelligence), RPA (robotic process automation), quantum computing, Internet of Things (IoT), cybersecurity, practical blockchain applications, DevOps and so on.
Any software technology, as you can already sense from the terminology, is a set of developing programming codes, and tools to construct a more and more useful working mechanism of the software being used. Artificial intelligence and its subset of machine learning have been incredibly useful for the entire last decade, and surely other software technologies are gaining momentum to transform lives in their ways. Out of the latest software technologies now, RPA is one of those top trends which needs to be discussed at length with a lot of people around the world since it holds the potential to change lives drastically, irrespective of whether you know about it or not.
Why do you need to know about RPA?
RPA or Robotic Process Automation is a software technology that develops and uses robots for business development and to automate different jobs globally. In a way, its working principle is inextricably linked to artificial intelligence since the bots (or software robots) are built using the same. It has been so deftly developed that the bots can be as effective as humans, navigating and managing digital tasks (usually repetitive and administered by a set of rules). Businesses around the world have been highly appreciative of this latest software technology and almost 63% of the global executives believe that RPA can bring significant digital transformation. The bots are capable of performing the tasks at a faster rate and with a higher accuracy thereby accentuating the profits of any business organisation. Thus the impacts of a digital RPA employed enterprise can be diverse with minimal investment and boosted productivity.
Who are the stakeholders?
A recent survey shows that the conceived AI-aided productivity is supposed to range from approximately 11-37% in different selected nations (being the lowest in Spain and highest in Sweden) around the world until 2035. Although this latest software technology is supposed to improve the world around us, it poses a major threat in taking away the daily bread of many, by automating their jobs at a rapid rate. Although experts say that only 5% of the global workforce can be completely automated using RPA, almost 60% can be partially automated. However, another report provided by Forrester Research states that by 2030, the RPA technology might endanger the jobs of about 230 million people. Hence it might be better for the global economy if RPA aids in both automating as well as creating jobs around the world.