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Robotic Process Automation (RPA)Robotic Process Automation (RPA) is the new buzz word in the IT industry as it promises to bring in a shift in the traditional way of manually doing the business and IT operations in organizations. The term Robotic Process Automation brings into your mind the picture of physical robots doing some labor intensive human physical tasks like unloading heavy goods from a vehicle or cleaning your house. However, in reality, the picture is different. The ‘robot’ in the term RPA is not a physical robot but a virtual system which can efficiently automate repetitive manual computing or business process tasks. A March 2017 report from Research and Markets reveals that “The robotic process automation market is estimated to reach USD 2,467.0 million by 2022, at a CAGR of 30.14% between 2017 and 2022. The major factors that have propelled market growth are ease in business processes offered by robotic process automation, and convergence of robotic process automation with traditional business process industries”. |
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Application areas of RPA• Financial Services: RPA can be used in financial services sector for automating the tasks including account closure and opening, managing audit requests, foreign exchange payments and insurance claims processing. |
RPA and Intelligent AutomationFrom RPA, we are moving into the world of Intelligent Automation (IA), where Robotic process automation is combined with Artificial Intelligence including Natural Language Processing, Machine Learning and Cognitive Computing. With IA, the automation is maturing to the next level where the robots are transitioning from ‘doing’ machines to ‘thinking’, ‘learning’ and ‘adapting’ machines capable of anticipating the requirements and acting accordingly. Happiest Minds mCaaS- Digital Query Assistant (DQA) is a game changer Intelligent Automation solution powered by artificial intelligence and cognitive computing. The DQA solution holds the power to manage and optimize customer interactions across disparate channels including mobile, the web, social media, and voice mail, driven by automation. The platform has intelligent search and self- learning capabilities. Digital Customer Onboarding (d COB™) and Digital Contact Center Modernization (DCCM)solutions from Happiest Minds are also two solutions which are backed by RPA. RPA holds the power to amplify human potential which results in a much more efficient business and IT oriented process. Robotic Process Automation is no longer an alien concept and is gaining a lot of traction in the IT industry. It is set to be one of the fast growing technology sectors in the next few years to come and early adopters are going to reap the benefits. |
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