As per a report by McKinsey Global Institute, 2017,1 current scenarios suggest that nearly half of the work we do today would be automated by 2055. The drive towards automation was already in motion, but the pace has accelerated in the last few years. The fact has been driven home by COVID-19. The pandemic has presented the significance of automation as a lever critical to accelerating the automation journey to entrepreneurial success.
Insights from several surveys have revealed that more than 90 % of the C-level executives claim that some level of IA already exists in their organizations. The use cases of quantifiable efficiency and proven returns are fueling the adoption of intelligent technologies like Artificial Intelligence, Robotic Process Automation (RPA), Machine Learning to name a few. As per Gartner’s predictions for AI adoption2, one estimate suggests that more than 50 % of the organizations have started using RPA tools. Most organizations have begun to identify the processes for adopting). It has propelled a few enterprises towards leveraging Intelligent Automation (IA) or hyper-automation to expand the scope and scale of their business activities. However, RPA is the first step in the evolution of an enterprise automation journey.
The dynamics of automation identify process insights that are key for scaling enterprise automation drive. Executives need to rethink strategically about the way forward. Enterprises already on the Intelligent Automation adoption journey have identified success factors to its successful implementation.
Apart from its numerous benefits, the most robust advocacy for RPA implementation is its fast implementation and completely customizable solutions. It helps enterprises streamline operational processes, minimize costs, reduce downtime, and focus on value-adding activities. RPA tools have the potential to benefit the business with improved metrics. As the low-value tasks are automated, it frees the personnel to work on high-value tasks that could positively impact the bottom line. Automation helps the employees be aware of new opportunities for which they can upskill themselves and be job-ready. Most system upgrades tend to break the budget. RPA solutions are low risk and easy to integrate with minimal interference to existing systems. RPA solutions can help remove the obstacles paving the way for willingness to adopt IA.
As with everything new, enterprises are slow to adopt and embrace IA technologies. In 2018, the number of respondents scaling automation initiatives increased from a mere 4% to 13% in 20203, and the numbers were growing slowly. So, why are the organizations unable to scale their automation implementation? The lack of readiness towards IT adoption and the process fragmentation have been highlighted as two major reasons for organizations failing to scale up their automation initiatives. Rushing into adopting without a well-thought-out plan can lead to costly mistakes producing undesirable outcomes or cost more than expected.
Adoption of RPA is on the rise, albeit slowly, as the tech promises to automate manual tasks adding to productivity and significantly cutting costs. Leaders and management may quickly initiate RPA adoption, but few steps are critical to a successful outcome.
RPA will continue to make forays into enterprises that will find ways to adopt RPA services with greater precision in several processes. It will bring in more strategic initiatives too.
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