Cognitive RPA – The Future of Automation
NASSCOM report titled ‘Cognitive RPA – The Future of Automation’ highlights the state of Robotic Process Automation and how it would evolve with advancements in cognitive technologies. The report covers trends and drivers that are shaping-up RPA growth, and highlights use cases of RPA across various business functions and sectors.
- Global RPA software and services market is expected to grow at a CAGR of 29% between 2017-21 to reach
USD 1.2 billion
- RPA service providers in India are strengthening their in-house intelligent automation and AI capabilities, especially around IP and asset creation
Key Business Functions and Sectors
- RPA finds highest adoption in Finance and Accounting function for executing tasks such as AR, AP, General ledger, etc.
- Banking, financial services and insurance companies have been the early adopters of RPA, driven primarily by revenue and cost pressures
- The market is driven by quick RoI, seamless transition from legacy systems, enhanced reliability and accuracy and improved customer experience
- Going forward, cognitive technologies are expected to bring smart capabilities to existing RPA offerings to include activities that require intelligence
- Enterprises will focus on coupling RPA with AI technologies such as ML, NLP and to achieve higher business impact