Cognitive RPA - The Future of Automation

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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

Key Findings

RPA Landscape

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

Market Drivers

The market is driven by quick RoI, seamless transition from legacy systems, enhanced reliability and accuracy and improved customer experience

Outlook

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

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