Automation Of Processes In Leading To Next-Generation Growth
Automation is the essence of Modern Transformation leading to digitalization of wide range of services starting from transaction of financial products to business process automation in changing the complete outlook. Covid Pandemic has unveiled the truth of laggard technological growth in many countries like India, requiring the emergence of fast paced digital solutions.
Human tasks are many times monotonous continuing with the repetitiveness, which constrains the optimal utilization of resources those who could have performed well in more demanding tasks, in-line to their skill sets. Automation brings forth a crucial sense in performing such back-end tasks ensuring real-time performance improvements. Most likely, as per the report, the manufacturing as well as the service sector is going to make a huge shift to automation with a projected annual growth rate of 9.35% in the forecast of 2018 - 2023 & the industrial automation is expected to gain $216.5 Billion by 2023.
A parabolic rise in technological growth and automation, symbolises the increased usage of digital technologies and various innovations as Virtual Reality in transforming the operational performance of the businesses.
ROBOTIC PROCESS AUTOMATION (RPA)
RPA is leading to the transformation of the corporate world to meet forward the requirements of next-generation growth encapsulating the essence of Artificial Intelligence: Machine Learning, Data Management, Robotics & Internet of Things (IoT). With enhanced systems, the covid environment has lead to almost 75% adoption of digital services as per the Mc Kinsey report, until everything comes to normal. Working from home has been accepted by most of the IT giants like Microsoft, IBM, Cognizant, Google and many others following the path to reduced cost of operations and increased performance growth of the employees contributing to overall company development rally.
However, inclusion of automation processes, magnifies the ease of doing small tasks or even harder tasks. Various applications of Robotic Process Automation includes:
• Paperworks involving checking and maintaining records,• Evaluation of financial performance of an organisation,
• Scheduling tasks as per the requirements and informing all details in advance,
• Evaluating an individual's financial performance and predicting investment decisions,
• Chat Bots to resolve common issues leading to fast service facilities.
Such tasks involve fast processing and improving the performance of services rendered to customers as well as corporate ease. RPA extravagants customization deploying an orderly mannered strategy in next generation growth of the economy. Assigned to automation of tasks, cloud services engages in rampant usage facilities significantly bringing down the infrastructure costs, speed and time, increased productivity & ease-of-use.