RPA - The Present and Future According to Jacob Peter

What does RPA mean? What are the advantages and disadvantages of this technology? How can companies benefit from it, who should use it, and what is the future of RPA according to Jacob Peter? Answers to these questions and more by going through this article!

What is RPA's future?

Companies are no strangers to automation with robots and artificial intelligence (AI) taking over jobs that humans once did. RPA, or Robotic Process Automation, is an emerging technology that is predicted to generate $1.2 billion in revenue by 2020. In this video interview, IT Business Arrangements' VP BU Head, Jacob Peter talks about the present and future of RPA as it pertains to companies today.

The current state of RPA

RPA has come a long way since its beginning. With the rapid advancements in technology, it's no surprise that the industry is only expected to grow in the future.

Businesses around the world are turning to new technologies to streamline processes and save costs. This has led many companies, including General Electric, Volvo Cars, Cisco Systems, Target Corporation, Home Depot, Verizon Wireless, MetLife, and Bank of America/Merrill Lynch among others, to adopt robotic process automation (RPA) solutions for automating repetitive work tasks that were traditionally performed by people.

What the future holds for RPA

The future of RPA, according to Jacob Peter, VP BU Head-(IT Business Arrangements) is that it will be more prevalent in the workforce. Especially in the next decade as more jobs become automated. He states that robots will be able to do everything better than humans do.

Who coined the term RPA?

Remotely Programmed Automation, or RPA, is the latest buzzword in digital transformation. It essentially refers to the use of software robots that can be programmed remotely to execute repetitive tasks, such as data entry or credit card billing processing. The term was coined by John McCarthy who introduced it in 1967.

What is RPA evolution of RPA?

 RPA is still young, it’s not even a decade old. It is changing almost every day and new advancements are implemented which make RPA more efficient. It will surely change in another 5 years but we have no idea how much or what it will change into as of now. With each advancement two things should be kept in mind: 1) What problems can we solve by implementing these changes 2) Are these solutions being implemented at an affordable cost?

Is RPA good for the future?

The present state of RPA is successful. More companies are realizing the potential that lies within RPA, and more jobs will be available shortly. As a result, this new business model is not just good for now, but also for the future.

What are the 3 challenges to RPA being implemented in the future?

1. Data accuracy- with the amount of data being generated every day, it becomes more difficult for R2P programs to keep up. 2. Who will be in charge of managing the processes?- as artificial intelligence is implemented into more workplaces, who will be tasked with deciding what work can be automated? 3. What about privacy concerns?- some people are worried that this type of automation could infringe on their privacy or they might feel like they're being watched at all times.

Which RPA tool is in demand in the future?

Jacob Peters, VP BU Head (IT Business Arrangements) at RPA, is an expert in the field of robotic process automation. He shares his thoughts on what's coming up in the world of RPA in this latest blog post. What I want people to understand is that we are not just automating simple tasks anymore, says Peters.