1. The RPA market will continue to grow dramatically – tripling in size in 2019 to $1.7 billion in revenues, according to Forrester – as organizations continue to automate business processes. This will include employees evolving to become a seamless part of an intelligent digital workforce alongside robots. And the automation will actually create more jobs, including bot masters and operations experts, managing performance.
2. The banking, financial services, and insurance industries will lead RPA adoption, bolstered by the adoption of a new accounting guideline, ASC 606. Other industries that will be high-growth this year include healthcare, telecom, and IT.
4. RPA, which was conceived to automate repetitive tasks like text mining of insurance and medical claim forms, invoices, purchase orders, and emails, has become more sophisticated as it has matured. So products are getting smarter and – with human training – more able to make complex decisions. This is a key reason why unattended RPA systems are growing so rapidly, such as intelligent automation at the service desk. By the end of 2019, Forrester projects automation will eliminate 20% of all service desk interactions, resulting from a combination of cognitive systems, RPA, and various chatbot technologies.
5. After dramatic increases in subscription-based pricing, RPA pricing is expected to come down because of increased cloud-based offerings, increased competitive pressure due to new entrants, and increased numbers of systems integrators. It’s also important to note that as RPA supports more digital workers, the ROI increases and the average price-per-seat will decrease.
6. Security will become a bigger issue in RPA deployments because of the fear that software bots might attack IT systems and applications. Companies that incorporate digital rights management (DRM) will have a distinct identity – just like a person – ensuring they can distinguish between the bot and an intruder.
7. According to a new report from KPMG, 32% of industry leaders expect to increase RPA investment by 20% by 2025, with almost two thirds surveyed planning to fully implement RPA within three years. This will help free up human workers to concentrate on activities that require human cognition.