Robotics Process Automation is quite a buzzword in the industry right now. Robotic Process Automation (RPA) is an automation technology for making smart software by applying intelligence to do high volume and repeatable tasks that are time-consuming. Robotics processing automation is automating the tasks of wide variety of industries, hence reducing the time and increasing the output
Why Robotics Process Automation?
Let's take an example of credit card fraud detection system and now ant transaction that is coming in it is judged on the basis of rules that you have designed. Rules should be something like:
Last location of access.
Usual amount of transaction
Number of times, wrong pin entered.
Now each transaction that is coming in it is judged on the basis of rules that you have designed. So if you judge a transaction based on these rules the one way of doing it is through the human workforce so this was done before 15 or 20 years back as at that time there was no automation system. So there were lot of people whose sole purpose were to investigate each and every transaction and authorized a transaction based on those rules but when automation came, now 95% of those transactions are automated and the rest 5% of those transactions are just flagged as an anomaly. Anomaly are basically the transaction which cannot be judged by the automation system so you can't program your code to judge everything as there were also some loopholes. And there are always some transactions that you can't judge and that way you need human intelligence.
Hence, robotics process automation serves following benefits:
More accurate in lesser time
Easy to implement and learn
What is Robotics Process Automation (RPA)?
RPA is divided into three terms:
It is an acronym for robotics process automation. It is an entity which is capable of being programmed by a computer for doing complex tasks is known as a robot. In terms of robotics process automation, this task would be to mimic the human actions. A sequence of steps that lead to a meaningful activity or task is known as a process. When a task happens automatically, like without human intervention is called automation.
Some of the robotics process automation tools are UiPath, blueprism, Automation Anywhere.
The automation of activities can enable productivity growth and other benefits at both the horizontal surface of soul process and businesses, as well as at the level of entire economies, where productivity acceleration is sorely needed, especially as the share of the working age population declines in many countries. At all the levels businesses will have an opportunity to gain benefits and achieve competitive advantage from automation technology.
Implementing these technologies into business may cause some benefit and change the old data into new ones, but it's a chance worth taking. By dropping the human workload, improving the marketing skills and increasing weaker areas in your business plan, automation will provide the best solution and increase the productivity effectively and efficiently.