RPA Growth

RPA continues to feature in the news.

Tractica has just publishing a report, highlighting that worldwide revenue in the RPA market will increase from $151 million in 2016 to more than $5.1 billion in 2025.

The report identifies the key industry sectors that are embracing RPA implementations – financial services & banking, utilities & telecommunications, retail & commercial, and healthcare & insurance.

Keith Kirkpatrick, principal analyst, commented, “(RPAs focus)…on both back-end processes, such as accounting, billing management, customer onboarding, and validating data, as well as customer-facing, or front-end processes, such as automated customer service management or contract initiation and management.”

The report states that AI technology is driving the use of RPAs, “…with machine learning, deep learning, and other technology designed to automatically capture, input, and classify unstructured data, then route to the appropriate enterprise application.”

At Xceptor we are seeing first-hand how financial institutions are using RPAs. It’s not just AI that is fuelling this adoption, its also the drive for efficiency and removal of re-keying errors.  Banks are using Xceptor as an enabler to the RPAs – capturing data in multiple formats, validating and enriching it, before sending it to the RPA robot in the required format. Specific examples can be seen at http://www.xceptor.com/enabling-the-rpas/

 

An Executive Summary of Tractica’s report can be viewed at https://www.tractica.com/research/robotic-process-automation/