Introduction to the industry

About the industry-

The Robotic Process Automation (RPA) industry has witnessed exponential growth and

transformation in recent years, revolutionizing business operations across various sectors.

RPA, which involves the use of software robots or bots to automate repetitive and rule-based

tasks, has become a strategic enabler for organizations seeking to streamline processes,

enhance efficiency, and drive digital transformation.

This report provides a comprehensive overview of the RPA industry, examining its

applications, benefits, challenges, and future prospects. It explores the impact of RPA across

industries such as manufacturing, finance, healthcare, retail, and more, highlighting the

significant improvements achieved through automation.

` RPA offers a wide range of applications, including manufacturing automation, supply

chain management, customer service and support, and data analysis and reporting. By

automating repetitive tasks, RPA improves operational efficiency, increases productivity,

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reduces errors, and enables organizations to reallocate human resources to higher-value

activities.

The benefits of RPA in the industry are evident, with increased efficiency and

productivity being the primary advantages. By automating routine processes, organizations

can achieve faster task execution, improved accuracy, and reduced operational costs. RPA

also enhances scalability and flexibility, enabling businesses to adapt to changing demands

and handle higher volumes of work.

However, the implementation of RPA is not without its challenges. Organizations

must carefully assess their existing processes, address compatibility issues, and ensure proper

security measures are in place. Additionally, managing the impact on the workforce and

effectively integrating RPA into the organizational culture are crucial considerations for

successful implementation.

Looking ahead, the future of the RPA industry holds immense potential. The integration of

RPA with emerging technologies such as Artificial Intelligence (AI), Machine Learning

(ML), and Cognitive Automation promises to unlock advanced capabilities and decision-

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making potential. Intelligent automation, combined with data analytics and predictive

modeling, will enable organizations to achieve new levels of efficiency and innovation.

EVOLUTION IN THE ROBOTIC INDUSTRY

Automate repetitive and rule-based tasks using software robots or "bots." While RPA

itself does not involve biological evolution, the field of RPA has evolved significantly in

terms of capabilities and applications since its inception. Here are some key areas where

evolution has taken place in Robotic Process Automation:

Intelligent Automation: RPA has evolved to incorporate elements of Artificial Intelligence

(AI) and Machine Learning (ML). Intelligent Automation combines RPA with cognitive

technologies such as natural language processing, computer vision, and decision-making

algorithms. This allows bots to perform more complex tasks, understand unstructured data,

and make decisions based on contextual information.

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1.Process Discovery and Mining: Traditional RPA required explicit programming and

instruction for bots to automate tasks. However, with advancements in process discovery and

mining techniques, bots can now learn by observing human users.

 They can analyze user interactions, capture process steps, and create automation

workflows automatically. This reduces the effort required to identify and automate

processes. Unattended and Attended Automation: RPA has expanded to support both

unattended and attended automation scenarios.

 Unattended automation involves bots working independently on servers or virtual

machines, executing tasks without human intervention. Attended automation, on the

other hand, involves bots working alongside human users, assisting them in real-time

by automating specific steps or providing recommendations.

2.Integration with Cognitive Services: RPA has evolved to integrate with various

cognitive services, such as natural language understanding, sentiment analysis, and optical

character recognition. These integrations enable bots to interact with humans more

effectively, understand and extract information from documents, and perform tasks that

involve understanding and processing natural language inputs.

3.Process Analytics and Optimization: RPA platforms now provide advanced

analytics capabilities to monitor and optimize automated processes. They offer insights into

process performance, identify bottlenecks, and suggest improvements. Analytics also help

organizations make data-driven decisions about process automation, identifying areas where

automation can have the most significant impact.

4.Low-Code/No-Code Development: RPA tools have evolved to simplify the

development and deployment of automation solutions. Low-code or no-code platforms allow

business users to create and manage automation workflows without extensive programming

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knowledge. This democratization of RPA development enables organizations to scale

automation efforts and involve a broader range of users.

5. Hyper automation: Hyper automation refers to the convergence of multiple

automation technologies, including RPA, AI, ML, process mining, and analytics. It aims to

automate end-to-end business processes, combining human and digital workforce seamlessly.

Hyper automation leverages the strengths of various automation tools and techniques to

achieve more significant efficiencies and improve business outcomes.

Overall, the evolution of Robotic Process Automation has resulted in more intelligent,

adaptable, and capable automation solutions. RPA is no longer limited to repetitive tasks but

has expanded to handle more complex processes and interact with humans in a more natural

and intelligent manner.

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 Importance -

Robotic Process Automation (RPA) holds significant importance for organizations across

various industries. Here are some key reasons why RPA is important:

1. Increased Efficiency and Productivity : RPA automates repetitive and manual

tasks, allowing organizations to achieve higher levels of efficiency and productivity.

Bots can perform tasks round the clock without fatigue or errors, resulting in faster

and more accurate execution. This enables employees to focus on more value-added

activities that require human judgment and creativity.

2. Cost Reduction: RPA helps organizations reduce costs by optimizing processes

and eliminating the need for manual intervention. Bots can perform tasks at a fraction

of the time and cost compared to human workers. By automating processes,

organizations can achieve cost savings through reduced labor expenses, decreased

error rates, and improved resource allocation.

3. Improved Accuracy and Quality: RPA minimizes human errors and improves

process accuracy. Bots follow predefined rules and execute tasks consistently without

deviations. This reduces the risk of errors caused by fatigue, distraction, or manual

data entry. With improved accuracy, organizations can ensure high-quality outputs,

leading to improved customer satisfaction and compliance with regulatory

requirements.

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4. Enhanced Scalability and Flexibility: RPA allows organizations to scale their

operations quickly and easily. Bots can be deployed or replicated across multiple

systems and environments, enabling organizations to handle increased workloads

without significant investments in infrastructure or human resources. RPA also offers

flexibility in adapting to changing business requirements and scaling automation

efforts as needed.

5. Increased Compliance and Auditability: RPA provides organizations with

greater control and visibility over their processes. Bots operate within predefined rules

and workflows, ensuring compliance with regulatory guidelines and internal policies.

RPA platforms also offer audit logs and tracking capabilities, enabling organizations

to monitor and trace each step of automated processes, facilitating compliance audits

and enhancing governance.

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 6. Faster Process Cycle Times: RPA streamlines processes by reducing manual

handoffs, data entry, and processing times. Bots can complete tasks in significantly

less time compared to manual execution. This results in faster process cycle times,

enabling organizations to respond to customer demands more quickly, reduce time-to-

market, and improve overall operational agility.

Introduction to technology advancement

Robotic Process Automation (RPA) has witnessed significant technological

advancements in recent years, enhancing its capabilities and expanding its potential

applications. Here are some notable technology advancements in RPA:

1. Artificial Intelligence (AI) and Machine Learning (ML): RPA has

integrated AI and ML capabilities to enable intelligent automation. Bots can now learn

from historical data, adapt to changing conditions, and make decisions based on

complex rules and patterns. AI-powered RPA enables bots to handle unstructured data,

understand natural language inputs, and perform cognitive tasks like sentiment

analysis, language translation, and image recognition.

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2. Natural Language Processing (NLP): RPA systems have incorporated NLP

techniques to understand and process human language inputs. Bots can interact with

users in a more natural and conversational manner, extracting relevant information and

taking appropriate actions. NLP enables chatbot-like capabilities, allowing users to

communicate with bots through voice or text interfaces.

3. Computer Vision: RPA has leveraged computer vision technology to interpret and

analyze visual information. Bots can now recognize and extract data from images,

screenshots, and scanned documents. Computer vision capabilities enable bots to read,

understand, and process visual content, expanding automation possibilities in tasks like

document processing, invoice verification, and image-based data extraction.

4. Process Discovery and Mining: RPA platforms now employ process discovery

and mining techniques to identify automation opportunities. These technologies

capture and analyse user interactions with existing software systems, mapping out the

steps and rules followed in various processes. This automated discovery process helps

organizations identify repetitive tasks suitable for automation and accelerate the

development of automation workflows.

5. Hyper automation: Hyper automation refers to the integration and orchestration

of various automation technologies, including RPA, AI, ML, process mining, and

analytics. By combining multiple automation tools, hyper-automation aims to

automate end-to-end business processes that involve both human and digital

workflows. It enables seamless collaboration between bots and human workers,

leading to enhanced efficiency, improved decision-making, and better business

outcomes.

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 6. Cloud and Software-as-a-Service (SaaS) RPA: RPA solutions have

embraced cloud computing and SaaS models, offering greater flexibility, scalability,

and accessibility. Cloud-based RPA platforms eliminate the need for on-premises

infrastructure and provide the ability to scale up or down based on demand. SaaS-

based RPA allows organizations to access RPA tools and services through

subscription-based models, reducing upfront costs and simplifying deployment.

Emerging technology in the Robotics industry

Emerging technologies continue to shape the field of Robotic Process Automation (RPA),

enabling new possibilities and driving innovation. Here are some of the emerging

technologies in RPA:

1. Intelligent Document Processing (IDP): IDP combines RPA with technologies

like Optical Character Recognition (OCR), Natural Language Processing (NLP), and

Machine Learning (ML) to automate the extraction and processing of information from

unstructured documents. It enables bots to understand and extract data from documents

such as invoices, forms, contracts, and emails, reducing manual effort and improving

accuracy in document-centric processes.

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Benefits of intelligent document processing

Intelligent document processing has been demonstrated to improve business processes and

increase team efficiency. Here are a few of the key advantages to automating your document

processing:

 Increase the accuracy of your processing with intelligent document processing. The

rate of error for human data processors is much higher than it is for IDP.

 Lower the cost of processing documents by automating some of your workflows. On

average, manual document processing costs 6 to 8 dollars per document. The per-

document cost of automated document processing is considerably lower than that.

 Increase employee productivity by offering them the opportunity to do more

impactful work. Without the need to process mindlessly time-consuming documents,

employees are free to direct their attention elsewhere.

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Use cases for intelligent document processing

IDP is used across industries. Here are some intelligent document processing use cases:

 Finance departments can automate accounts payable functions such as processing

invoices.

 Human resources departments can process resumes, screen employees, and process

employee surveys and other HR data with IDP.

 Government agencies manage permits, issue e-documents, and process applications

with intelligent document processing software.

 Insurance companies use automation document processing to process claims, detect

fraud, triage insurance policies, and expedite your organization’s document

processing.

 Law firms can process, archive, and manage legal data with higher accuracy than

manual document processing using IDP.

These are just a few of the sectors where intelligent document processing is

used to expedite and improve data processing workflows. If you’re working with the

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 right software, IDP has a broad range of applications and benefits for most

organizations

2. Robotic Desktop Automation (RDA): RDA focuses on automating user

interactions at the desktop level. It enables bots to interact with desktop applications,

mimic user actions, and automate tasks that involve data entry, copying and pasting,

and screen navigation. RDA enhances attended automation scenarios, where bots work

alongside human users to provide real-time assistance and automate repetitive tasks

within their desktop environment.

RDA, also called attended RPA, is Robotic Process Automation (RPA) for the masses. RPA

includes:

 Attended RPA which enables most knowledge workers to automate their work

 Unattended RPA which runs in the background, completing tasks in batches

 Hybrid: A combination of attended and unattended RPA tasks.

Read our RPA article’s types of RPA section for more on definition of different types RPA.

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Just for clarity, we have seen the terms “RDA”, “attended RPA”, “personal bots” or

“software assistants” used to mean the same type of program. We’ll refer to this type of

program as “RDA” in this article but we also refer to it as “attended RPA” in other articles.

3. Process Mining: Process mining involves analyzing event logs and data generated by

software systems to discover, monitor, and improve business processes. By leveraging

process mining techniques, organizations can gain insights into their processes, identify

bottlenecks, uncover inefficiencies, and discover automation opportunities. Process mining

complements RPA by providing data-driven insights for process

Process mining applies data science to discover, validate and improve workflows.

By combining data mining and process analytics, organizations can mine log data from their

information systems to understand the performance of their processes, revealing bottlenecks

and other areas of improvement. Process mining leverages a data-driven approach to process

optimization, allowing managers to remain objective in their decision-making around

resource allocation for existing processes

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 .

Types of process mining-

Wil van der Aalst, a Dutch computer scientist and professor, is credited with much of the

academic research around process mining. Both his research and the above-mentioned

manifesto describe three types of process mining, which are discovery, conformance, and

enhancement.

Discovery: Process discovery uses event log data to create a process model without outside

influence. Under this classification, no previous process models would exist to inform the

development of a new process model. This type of process mining is the most widely

adopted.

Conformance: Conformance checking confirms if the intended process model is reflected in

practice. This type of process mining compares a process description to an existing process

model based on its event log data, identifying any deviations from the intended model.

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Enhancement: This type of process mining has also been referred to as extension,

organizational mining, or performance mining. In this class of process mining, additional

information is used to improve an existing process model. For example, the output of

conformance checking can assist in identifying bottlenecks within a process model, allowing

managers to optimize an existing process

4.Process Discovery: Process discovery tools use AI and ML algorithms to analyze user

interactions and logs to automatically identify, map, and document business processes. These

tools help organizations understand how processes are performed, identify variations and

exceptions, and uncover automation opportunities. Process discovery accelerates the

automation development lifecycle by providing insights into processes that can be automated.

5. Intelligent Automation Platforms: Intelligent Automation Platforms provide a unified

environment to orchestrate and manage various automation technologies. These platforms

integrate RPA, AI, ML, and other emerging technologies, offering a comprehensive solution

for end-to-end process automation. They provide capabilities for process design,

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development, deployment, monitoring, and optimization, enabling organizations to scale and

manage their automation initiatives effectively.

6. Natural Language Processing (NLP) and Conversational AI:

NLP and Conversational AI technologies enhance the interaction between bots and humans.

Bots can understand and respond to natural language inputs, enabling users to communicate

with bots through voice or text interfaces. Conversational AI capabilities facilitate advanced

chatbot functionalities, virtual assistants, and voice-enabled automation, improving user

experience and enabling more sophisticated automation scenarios.

Conversational AI use cases-

When people think of conversational artificial intelligence, online chatbots and voice

assistants frequently come to mind for their customer support services and omni-

channel deployment. Most conversational AI apps have extensive analytics built into

the backend program, helping ensure human-like conversational experiences.

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Experts consider conversational AI's current applications weak AI, as they are focused on

performing a very narrow field of tasks. Strong AI, which is still a theoretical concept,

focuses on a human-like consciousness that can solve various tasks and solve a broad range

of problems.

Despite its narrow focus, conversation AI is an extremely lucrative technology for

enterprises, helping businesses more profitable. While an AI chatbot is the most popular form

of conversational AI, there are still many other use cases across the enterprise. Some

examples include:

 Online customer support: Online chatbots are replacing human agents along the

customer journey. They answer frequently asked questions (FAQs) around topics, like

shipping, or provide personalized advice, cross-selling products or suggesting sizes

for users, changing the way we think about customer engagement across websites and

social media platforms. Examples include messaging bots on e-commerce sites

with virtual agents, messaging apps, such as Slack and Facebook Messenger, and

tasks usually done by virtual assistants and voice assistants.

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 Accessibility: Companies can become more accessible by reducing entry barriers,

particularly for users who use assistive technologies. Commonly used features of

Conversation AI for these groups are text-to-speech dictation and language

translation.

 HR processes: Many human resources processes can be optimized by

using conversational AI, such as employee training, onboarding processes, and

updating employee information.

 Health care: Conversational AI can make health care services more accessible and

affordable for patients, while also improving operational efficiency and the

administrative process, such as claim processing, more streamlined.

 Internet of things (IoT) devices: Most households now have at least IoT device,

from Alexa speakers to smart watches to their cell phones. These devices use

automated speech recognition to interact with end users. Popular applications include

Amazon Alexa, Apple Siri and Google Home.

 Computer software: Many tasks in an office environment are simplified

by conversational AI, such as search autocomplete when you search something

on Google and spell check.

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 7. Cloud-based RPA: Cloud-based RPA solutions offer the advantages of scalability,

flexibility, and accessibility. By leveraging cloud infrastructure, organizations can

easily scale their RPA deployments based on demand, without the need for significant

upfront investments in infrastructure. Cloud-based RPA also enables easy

collaboration, centralized management, and integration with other cloud services and

technologies.

Perks of Cloud-Based RPA for Companies

 Affordable Infrastructure

Indeed, significant cost savings are one of the obvious advantages of cloud RPA. When

compared to other enterprise tools or solutions that must be installed and maintained on-

premise, the technical infrastructure required for cloud installation and maintenance is far

less. RPA and cloud computing together will enable organizations to save up to 25%,

according to a McKinsey & Company prediction.

 Ease of Implementation

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The quick and simple installation of the technology and deployment of Cloud RPA are two

noteworthy advantages. Many companies are a little cautious to deploy automation across

their entire organization. By managing and hosting everything in the cloud, Cloud RPA

performs an amazing job of lowering the hurdles to implementing automation. As a result,

installing pre-built and optimized cloud services will be quick and simple.

 Usability

The fact that cloud RPA is so simple to utilize is another appealing feature. Just choosing a

business task or procedure that needs to be automated is all that is required. Companies that

currently have a strong RPA will find moving to the cloud simple. Users may receive an

interactive experience thanks to features like drag-and-drop AI capabilities, distinct design

views for different departments, and integrated product learning.

Effects after Adaption / limitation

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After the adaptation of Robotic Process Automation (RPA), organizations can experience a

range of effects. Here are some common effects that can occur:

1. Increased efficiency: RPA can significantly improve operational efficiency by

automating repetitive tasks and reducing the need for manual intervention. This leads

to faster task completion, reduced processing time, and increased throughput.

2. Cost savings: RPA can generate cost savings for organizations in various ways. By

automating tasks, organizations can reduce labor costs associated with manual work.

Additionally, RPA can minimize errors and rework, resulting in cost savings related

to error correction and customer dissatisfaction.

3. Improved accuracy and quality: RPA ensures consistent and accurate

execution of tasks, reducing the risk of human errors. Bots follow predefined rules

and perform tasks with precision, leading to improved data accuracy, compliance, and

overall process quality.

4. Scalability and flexibility: RPA allows organizations to scale their automation

efforts easily. Bots can handle increased workloads without the need for significant

additional resources, making it easier to adapt to changing business demands. RPA

can also integrate with various systems and applications, providing flexibility in

automating processes across different platforms.

5. Enhanced compliance: RPA can help organizations achieve and maintain

regulatory compliance. Bots can be programmed to follow specific rules and

guidelines, reducing the risk of non-compliance and facilitating audit trails for

regulatory purposes.

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6. Streamlined processes: RPA implementation often involves streamlining and

reengineering processes to make them more efficient and suitable for automation. As

a result, organizations can identify and eliminate unnecessary steps, reduce

bottlenecks, and optimize workflows for better overall process performance.

7. Employee empowerment: RPA frees up employees from repetitive and

mundane tasks, allowing them to focus on higher-value activities. This can lead to

increased job satisfaction, skill development, and engagement among employees as

they are empowered to take on more strategic and meaningful work.

8. Enhanced customer experience: By automating tasks and reducing processing

time, RPA can improve the overall customer experience. Customers can benefit from

faster response times, reduced errors, and more consistent service delivery, leading to

increased satisfaction and loyalty.

9. Better use of people power. RPA often enables organizations to shift workers'

attention from low-value tasks to higher-value ones that deliver better customer

experience and ultimately support revenue growth, according IT advisors and

management leaders

Walker saw that shift in her own company, saying: "RPA helps us scale by

freeing up our employees to do value-add work." For example, customer service

representatives once spent a significant amount of time gathering and keying data for

rate change requests. This limited the time they had to directly engage with customers

in consultative conversations. But, now, RPA bots handle that gathering and keying

work, Walker said, giving workers more time to engage directly with customers about

how PSCU services could meet their needs.

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Simply put, RPA lets workers spend more time on advisory tasks instead of copying and

pasting.

11. Increased employee engagement. Because RPA bots handle the repetitive,

and sometimes mundane, tasks within the enterprise, employees can shift more of their time

to more valuable work, which, in turn, often makes for more engaged employees, Abel said.

12. Improved customer satisfaction. According to Abel, customers can also benefit

from organizations automating processes, as the automation can create a faster and better

experience. A bot, for example, can access and retrieve information to answer a customer's

request in real time so that there's no need to ask the customer to hold.

13. Standardization of processes. Even when organizations optimize their processes,

they can rarely ensure that the human employees follow the prescribed steps every time in

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every single office location, said Kevin Martelon, a process consultant and automation

partnership manager at Saggezza, a global IT consultancy.

Limitation of RPA

1. Attrition. Although RPA bots don't always displace workers, it is a possibility.

Moreover, because organizations can add bots to handle increasing workloads, they won't

need to hire additional workers who would

2. Sprawling technology. As organizations add more bots to perform more tasks, they

risk creating an unwieldy collection that becomes more difficult and more costly to manage

and maintain.

"That can happen if you're not governing it right, if understanding who has responsibility for

what isn't formalized [and] if you're just building bots and throwing them into production,"

Abel said, stressing the need for effective governance and an effective RPA center of

excellence to avoid such scenarios.

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3. Added complexity. Similarly, RPA can create layers upon layers of software when it's

not effectively documented, managed and governed, Weilerstein said. It creates complexity

that could make business improvements harder to achieve.

"RPA makes it easy for businesses to cope with changing business processes, and that makes

it easy for them to do it piecemeal rather than updating the software in a systematic way. The

problem with that is, if something goes wrong, it makes it difficult to troubleshoot to find out

what went wrong," Weilerstein said. "It's having all the layers that makes the entire picture

more complicated."

4. Magnification of problematic processes. According to experts, organizations that

don't first review and, if necessary, reengineer and optimize processes before automating

them risk automating problematic processes. This means amplifying inefficiencies, errors and

anything else that was wrong with the process in the first place. It also adds costs, which

could negate any expected ROI, and introduce new risks.

5. Thwarted transformation. Executives who see RPA as a tactical point-by-point offering

rather than a tool that's part of a holistic strategy will get more limited benefits, according to

Martelon. Enterprise leaders who want RPA to support their digitization objectives must have

a strategic plan for prioritizing their automation projects and understand how those projects

fit into their overarching strategic visions.

It's important to note that the effects of RPA can vary depending on the specific

processes automated, the level of implementation, and the organization's readiness for

automation. Successful RPA adoption requires careful planning, change management, and

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ongoing monitoring to maximize the benefits and address any challenges that may arise.

Process improvement or cognitive capabilities

"RPA is not a cognitive computing solution". Instead, it's "best suited for rules−based

vs judgment−based processes”, to work around this limitation, we can recommend using

"smart AI and ML integrations that understand and relate the exceptions and can provide

recommendations according easily based on the real time scenarios."

6.RPA requires structured data-

some tech experts stated that "RPA requires structured data but 80% of enterprise data is

buried in unstructured documents− emails, letters of credit, invoices, passports, sanction lists,

etc." those limitations to include "voice and callback processes and processes that require

human subjectivity." Although unstructured data is an issue for bots of RPA, other tools can

be used to structure the data before using RPA bots to get the best and exact results.

7.Reading and interpreting image or graphic data

As per the reviews came from organizations, an employee shared an experience where it

wasn't possible to "read a network topology or some machine drawing."

8.Handwritten Documents

One of testing members, Aparajita Jha working at My Anatomy , says that handwritten

documents present a challenge for RPA bots but it "is slowly being addressed and hopefully

in the next few years we will see more intelligent 'handwritten notes' recognition which

robots can identify."

Implementing RPA with a broken and incompetent process will not fix it. RPA is not

a Business Process Management solution and does not bring an end−to−end process view.

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 It cannot read any data that is non−electronic with unstructured inputs. RPA tools

aren’t intelligent robots with machine learning and artificial intelligence; RPA “bots” are

scripts that can’t dynamically respond to changes.

9.Balancing short-term needs with long−term priorities.

Some things about RPA may seem too good to be true, such as the ability to increase

productivity, minimize human error and streamline complex workflows. The problem is that

many teams use RPA as a means of bypassing outdated technologies (e.g., decades−old

COBOL systems that are still in place). This is often because replacing and replacing legacy

systems is disruptive. This process can cost thousands (if not millions) of dollars and take

years to complete.

While it's tempting to rewrite every part of the technology stack into a modern,

microservices−based application, doing it all at once can stall an organization's critical

processes. To get around this problem, companies are turning to RPA systems to automate

small actions, such as typing results from a green screen into a web interface or transferring

data from scanned paper documents into a CRM.

It's important to understand that this is a short−term solution. An RPA bot

programmed on a legacy system lacks the underlying API connectivity for deeper, more

complex automation.

10.Partial Process Automation-

RPA in use today does not completely replace human labour. The main cause of this is that

only portions of tasks that are made apparent via a user interface may be automated by RPA,

not entire complex processes. While RPA can be useful for substituting manual labour in

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repeated activities with predictable inputs, finishing procedures frequently necessitates

interacting with APIs or other input sources.

RPA must be integrated into larger BPM and ITPA platforms, which offer a broader

perspective of processes and more extensive methods of integration with a variety of

applications, in order to overcome this restriction. The optimum RPA integration with BPM

and ITPA technologies will reduce the number of user interfaces that staff members must

learn and maintain and will offer the quickest and most affordable route to automation.

11.Governance and Security Issues

The excitement for RPA may be dampened by worries about security and governance for

businesses that stand to lose a lot, especially those that are subject to strict regulation.

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Examples of companies as technology initiators / imitators

Here are examples of companies that have acted as technology initiators or imitators in

various industries:

Technology Initiators:

1. Tesla: Tesla has been a leader in electric vehicle (EV) technology, pushing the

boundaries of battery technology, range, and autonomous driving capabilities. Their

innovations have spurred widespread interest in the EV market and encouraged other

automakers to invest in electric vehicle development.

2. Boston Dynamics: Boston Dynamics is known for developing advanced robotics

technologies, including humanoid robots like Atlas and Spot, which can perform

complex movements and tasks. Their innovative and agile robotic designs have set

new benchmarks in the industry.

3. iRobot: iRobot is a pioneer in consumer robotics and is best known for creating the

Roomba, an autonomous robotic vacuum cleaner. Their advancements in robotic

navigation and mapping technologies have significantly influenced the home robotics

market.

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 4. Universal Robots: Universal Robots introduced collaborative robots or "cobots"

to the market. These robots are designed to work safely alongside humans, enabling

automation in industries like manufacturing and logistics without the need for

extensive safety measures.

Technology Imitators:

1. ABB: ABB is a multinational corporation that imitates and adopts robotics

technologies for industrial automation. They offer a wide range of robotic solutions,

including industrial robots, robotic systems, and automation tools, inspired by

advancements made by technology initiators.

2. KUKA Robotics: KUKA is a global supplier of industrial robots and automation

solutions. While they have made their own advancements, they also imitate and

integrate innovative technologies from other initiators to enhance their robot

capabilities and meet customer demands.

3. FANUC Corporation: FANUC is a Japanese company that specializes in factory

automation, including industrial robots and CNC systems. They often adopt and

integrate technologies from initiators while focusing on improving industrial

processes and productivity.

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It's important to note that these categorizations are not absolute, as many companies can be

both initiators and imitators depending on specific products or technologies. Additionally, the

robotics industry is dynamic, and companies continuously innovate and collaborate, blurring

the lines between initiators and imitators.

Robotics is a diverse sector with many moving parts, and what its future will look like is a

complex question. To offer insight, BCG did a deep dive into the robotics industry and the

potential for old and new players to grow over the next decade. Our very concise conclusion:

robotics has significant upside potential. More-nuanced analysis is that to succeed,

established companies manufacturing machinery and industrial automation hardware and

software must be both nimble and aggressive, prepared to take advantage of new strategic

and technological directions that will likely become more important as 2030 approaches but

may not be their traditional strengths. Meanwhile, smaller rivals and startups will be pushing

innovation in areas that have the potential to generate high profits and alter the dimensions of

the robotics industry. But the speed with which they will be able to transform the trajectory of

the field is still a wildcard.

4.Google World. In this final scenario, breakthrough advances in machine intelligence,

physical adeptness, and connectivity result in a spate of smart robot modules handling

complex and dynamic situations. These modules can be interchanged using simple plug-and-

play concepts, expanding robot environments and uses immeasurably. Out of this, volume

growth is driven by multiple elaborate use cases at a much higher price point than

standardized robots. Because of their technological flexibility and intelligence capabilities,

these robot modules can be customized for a broad suite of applications.

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Some of the more creative and powerful potential applications will be in the category of

mobile robotics, based on machine and vehicle fully self-driving technologies. The biggest

growth area is likely to be in professional services robots (rather than the more traditional

industrial robots), including autonomous hotel and consumer delivery equipment and railway

or airport maintenance robots.

In this market, software will be the key success factor, and software large scalers,

hyperscalers, and other digital startups will dominate. Traditional robotics companies are in

danger of becoming tier 1 and tier 2 suppliers in this scenario, providing mechatronics

equipment to suit the innovation and software platform standards that the software companies

are generating. Mechatronics would, thus, increasingly become a commodity with the only

possible potential for differentiation being in performance and quality.

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Graphical representation of last 5 years performance indicators

of Robotics industry

Clearly, robotics companies have a lot of decisions to wrestle with quickly. For instance,

established companies, which are mostly manufacturing conventional industrial robots, must

decide whether to enter the mobile robotics markets, where a lot of growth is expected.

Separately, software will play a bigger role in the robotics sector, and large and small

companies need to determine if they can compete in that area. To do so, they need to be

among the first movers and scale as fast as possible.

1.ROBOTICS INDUSTRY SIZE & SHARE ANALYSIS - GROWTH

TRENDS & FORECASTS (2023 - 2028)

The Report Covers Global Robotics Market Analysis & Industry Share and it is Segmented

by Type (Industrial, Service), End-User (End-Users of Industrial Robots (Automotive, Food

& Beverage, Electronics, Other End-Users of Industrial Robots), End-Users of Service

Robots (Logistics, Military and Defense, Medical and Healthcare, Other End-Users of

Service Robots), and Geography (North America, Europe, Asia-Pacific, Latin America,

Middle East.

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The market sizes and forecasts are provided in terms of value (USD billion) for all the above

segments.

2. Service Robotics Market Size- There has been an increase in the demand of service

robotics solutions across the world owing to greater need for automation of services. With the

increasing use of collaborative robots in service applications, the overall demand for robotics

has increased drastically over the years. The rising applications of drones, unmanned ground

vehicles, unmanned surface vehicles, autonomous underwater vehicles, unmanned aerial

vehicles in the military sector, use of delivery robots, personal assistance robots, inventory

management bots in the healthcare & logistics sector coupled with reduction of hardware

costs for the manufacturing of service robots are some stimulating factors for the global

service robotics industry.

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 3.Annual installations of industrial robots- The World Robotics 2021 Industrial

Robots report shows a record of 3 million industrial robots operating in factories around

the world – an increase of 10%. Sales of new robots grew slightly at 0.5% despite the

global pandemic, with 384,000 units shipped globally in 2020. This trend was dominated

by the positive market developments in China, compensating the contractions of other

markets. This is the third most successful year in history for the robotics industry,

following 2018 and 2017.

One benchmark of performance is the ActivityNet data set, which contains nearly 650 hours of

footage from a total of 20,000 videos. Of the 200 activities of daily life shown therein, AI

systems had the toughest time recognizing the activity of coffee drinking in both 2019 and

2020. This seems like a major problem, since coffee drinking is the fundamental activity from

which all other activities flow. Anyway, this is an area to watch over the coming years.

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4. Corporate Investment Can’t Stop, Won’t Stop

The money continues to pour in. Global corporate investment in AI soared to nearly $68 billion

in 2020, an increase of 40 percent over the year before.

5. The Startup Frenzy Is Over -

The previous graph showed that private investment is still increasing year over year, but at a

slower pace. This graph shows that the money is being channeled into fewer AI startups. While

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the pandemic may have had an impact on startup activity, this decline in the number of startups

is a clear trend that began in 2018. It seems to be a signal of a maturing industry.

6.Ph.D.’s Hear the Siren Call of Industry

To be fair, there are only so many academic jobs. While universities have increased the number

of AI-related courses on both the undergraduate and graduate level, and the number of tenure-

track faculty jobs has increased accordingly, academia still can't absorb the growing number of

fresh AI Ph.D.'s released into the world each year. This chart, which only represents Ph.D.

graduates in North America, shows that the large majority of those graduates are getting

industry jobs.

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7. Ethics Matter

Corporations may not care about AI ethics yet, but researchers increasingly do. Many groups

are working on issues such as opaque decision making by AI systems (called the explain

ability problem), embedded bias and discrimination, and privacy intrusion. The chart above

shows the rise in ethics-related papers at AI conferences, which the AI Index's Clark sees as an

encouraging sign. Since so many students take part in conferences, he notes, "in a few years,

there will be a load of people going into industry that have come up in this milieu."

Beyond the increase in conference papers, however, there's not much to measure. The report

stresses that quantitative tests of bias in AI systems are only beginning to emerge. Creating

these evaluations "feels like a new part of the AI scientific field," Clark says.

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 SWOT of new technology

SWOT analysis is a framework used to assess the strengths, weaknesses, opportunities, and

threats associated with a particular technology. Here's an example of a SWOT analysis for a

new technology:

Strengths:

1. Innovative Features: The new technology may offer unique and innovative

features that differentiate it from existing solutions in the market.

2. Competitive Advantage: It may provide a competitive advantage by addressing

unmet customer needs or solving existing problems more effectively than current

technologies.

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 3. Scalability and Flexibility: The technology might have the potential to scale and

adapt to different industries or applications, allowing for broader market reach.

4. Intellectual Property: If the technology is protected by patents or intellectual

property rights, it can provide a competitive barrier and exclusivity in the market.

Weaknesses:

1. Limited Awareness: The new technology might suffer from a lack of awareness

among potential customers, making it challenging to gain initial traction.

2. Development Challenges: There may be technical or logistical hurdles

associated with the development, production, or implementation of the technology.

3. Cost and Pricing: The new technology could be expensive to develop,

manufacture, or adopt, making it less accessible or cost-effective for some potential

users.

4. Learning Curve: Users may need to invest time and resources in training and

learning how to use the new technology effectively.

Opportunities:

1. Market Demand: There might be a growing market demand for a technology

solution that addresses specific pain points or emerging trends.

2. Untapped Markets: The technology may open doors to new markets or industries

that have not yet been fully explored or served.

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 3. Partnerships and Collaborations: Collaborating with established players or

forming strategic partnerships can help accelerate the technology's adoption and

market penetration.

4. Regulatory Support: Favourable regulations or policies in the industry or region

can create opportunities for the new technology to thrive.

Threats:

1. Competition: Existing competitors or new entrants might offer similar or

alternative technologies, posing a challenge to market adoption or differentiation.

2. Market Barriers: High entry barriers, established market leaders, or resistance to

change within the industry may hinder the technology's acceptance.

3. Technological Obsolescence: Rapid advancements in technology could render

the new technology outdated or less competitive in the future.

4. Legal and Regulatory Challenges: Compliance issues or regulatory hurdles

may impede the technology's adoption or impose additional costs and requirements.

It's important to note that the SWOT analysis will vary depending on the specific technology

and its context. Conducting a comprehensive SWOT analysis can help identify potential areas

of focus, strategy development, and risk mitigation to maximize the technology's chances of

success.

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 Conclusion

 .Robotic Process Automation (RPA) in the robotics industry has brought numerous

benefits.

 RPA streamlines and accelerates processes, leading to faster turnaround times and

increased throughput.

 Software robots automate repetitive tasks such as data entry, data manipulation, and

report generation, reducing errors.

 RPA enables seamless integration and interoperability between robotic systems and

existing software applications.

 Integration with emerging technologies like AI and machine learning enhances the

capabilities of robots.

 RPA reduces labor costs by minimizing the need for manual labor and decreases the

risk of human errors.

 Scalability is a key advantage of RPA, allowing for easy deployment of additional

software robots to handle increased workloads.

 RPA may not be suitable for complex tasks requiring human judgment or decision-

making.

 Implementation challenges include integrating RPA with legacy systems, ensuring

data security, and addressing ethical considerations.

 RPA is expected to continue playing a vital role in optimizing processes and driving

innovation in the robotics industry.

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