As things stand, there is only a 35 percent deployment of RPA in most companies today. However, as mentioned previously, the next five years will witness a tectonic shift in the deployment of RPA-based solutions. Softco, a company that specializes in the automation of Accounts Payables, Accounts Receivables, and overall Invoice processing claim that there will be a one hundred percent deployment of RPA solutions in organizations within the next five years.
Forrester, considered to be among the best blogs on Business Intelligence in the last decade also makes similar claims concerning the adoption of RPA tools shortly. In 2016, the RPA market was at USD 250 million and is projected to reach USD 2.9 billion, a massive growth rate. According to Forrester, “Adding AI to RPA will free it from an exclusive focus on rote tasks. AI will account for an increasing portion of the digital workforce, and in the end, RPA will be a small fraction of the overall AI “cubicle” market spend.”
While AI and Robots have long since touted to replace humans in repeatable processes, it is clear that the effects of the Covid-19 pandemic have hastened that approach. As things stand, RPA tools are helping businesses stay afloat by putting an end to the spending on resources that could be deployed elsewhere.
Needless to say, if you have not deployed an RPA to automate a good chunk of your repetitive processes, now is a good time to do so and lead your organization into a new wave of digital transformation.