Half of all work tasks will be handled by machines by 2025, according to the World Economic Forum (WEF). The WEF’s latest forecast into the impact of automation said the jobs most at threat of being replaced were those in administration and data processing, but millions of new jobs would be created in care, big data and the green economy.
Automation has become a board-level discussion, with the very survival of some companies depending on it, according to analyst Forrester. Remote work, support of remote business, economic pressures, new digital capabilities for employees and customers, and constraints brought about by the COVID-19 pandemic will all drive pragmatic automation.
Seventy per cent of RPA professionals say their organisation will hire more developers in the next year, according to research by RPA company UiPath, with 84 per cent agreeing that working as an RPA developer will have a positive impact on their next career move.
RPA software revenue will reach $1.89 billion by 2021, according to analyst Gartner – an increase of 19.5 per cent from 2020. The ability of RPA to improve process quality, speed and productivity will be the key driver, according to Gartner’s Fabrizio Biscotti. Gartner also outlined how RPA could revolutionise businesses in the future, saying it could be a game-changer for shared services.
Santander Consumer Bank is expanding its use of RPA after saving £1.6 million and 30,000 work hours by automating manual tasks across operations in the Nordic region. The consumer banking arm of Spain’s Banco Santander now plans to automate further processes over the next few years.
The market for automated electric power distribution is anticipated to be worth $23.8 billion by 2026, according to research. The report cites high demand for smart grids and the growth of smart city initiatives as the drivers.
Following its acquisition of low-code RPA player Softomotive, Microsoft has launched a new application based on Softomotive’s technology. Power Automate Desktop lets anyone automate desktop workflows without the need to program.
Law firms could benefit from the increased use of RPA for many rote and volume-driven tasks that legal teams must perform daily as part of their compliance and due diligence obligations. That’s according to HFS Research, which added that many law firms have barely scratched the surface when it comes to RPA.
Forty-six per cent of UK businesses have increased their investment in automation due to the recent COVID-19 lockdown, according to research commissioned by technology consultancy Emergence Partners.
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