{"id":22630,"date":"2021-02-17T10:55:18","date_gmt":"2021-02-17T10:55:18","guid":{"rendered":"https:\/\/www.experfy.com\/blog\/why-robotic-process-automation-rpa-taking-over-job\/"},"modified":"2023-09-05T05:27:08","modified_gmt":"2023-09-05T05:27:08","slug":"why-robotic-process-automation-rpa-taking-over-job","status":"publish","type":"post","link":"https:\/\/www.experfy.com\/blog\/ai-ml\/why-robotic-process-automation-rpa-taking-over-job\/","title":{"rendered":"Why Robotic Process Automation (RPA) is Taking Over Your Job"},"content":{"rendered":"\t\t
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There have been predictions that Robots will take over our jobs. As of today, that prediction is rapidly coming to pass. Our imagination may tell us these robots are hardware, machines made of metal or carbon fibre. This is not quite the case, as these Robots are software called bots. Bots are programmed to repetitively automate operational and transactional tasks without the need for human input. This activity is termed \u200bRobotic Process Automation (RPA).<\/strong><\/p>\n

World\u2019s leading research and advisory company, \u200bGartner\u200b, predicted that the global RPA market will generate a staggering $1.9 billion and that \u201cDespite economic pressures caused by the \u200bCOVID-19 pandemic, the RPA market is still expected to grow at double-digit rates through 2024\u201d.<\/p>\n

RPA bots are capable of improving operational efficiency in every sector. Their use is not limited to Public Sector, Banking, Utilities, Human Resources, customer support or even supply chain.<\/strong><\/p>\n

RPA can do data entry and extraction, the transfer and manipulation of data, web scraping (Information mining), email automation, Optical Character Recognition (OCR), Form auto-filling and countless other tasks and processes.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What about practical RPA scenarios?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Think about the Nigerian Civil Service having all its documents archived digitally, memos, bank statements, agreements, etc. Imagine that all this information was not stored in their original format but digitally. Take for instance, the case of a financial statement being scanned and saved as a JPG or PDF instead of Excel.<\/p>\n

With the aid of RPA technology, their details and key information can be extracted from the scanned document and saved in an Excel sheet. Thus, making the data useful in a way that can be crunched in Power BI or Tableau.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Business tech<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The finance sector has unlimited RPA use cases. One can have information from receipts extracted and reconciled automatically. Know-Your-Customer<\/a> (KYC) and Anti-Money Laundering (AML) process can be executed with the aid of Robotic Process Automation. The detection of discrepancies in customer details and transactions for cases of fraud can be done flawlessly and timely. Bots can even run audits to ensure compliance.<\/p>\n

We cannot underestimate the high-level benefits of RPA, which include cost reduction, elimination of human error, high output, better accuracy and general efficiency and these are fundamental needs of all organisations the world over.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The RPA market is currently dominated by three Major software companies:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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