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RPA – Robotics Process Automation Trends and Statistics for 2020

RPA Robotic Process Automation XORLOGICS

 

This year, many companies found their business growth through the smart interaction between human resources and supporting software robots as the direction is set towards digitalization and automation. The combination of RPA with artificial intelligence (AI) and machine learning (ML) is playing a huge role in the global economic environment.

According to a new report by Grand View Research, Inc. the global robotic process automation market size is expected to reach USD 10.7 billion by 2027, expanding at a CAGR of 33.6% from 2020 to 2027. In addition to that, in Gartner Top 10 Strategic Technology Trends for 2020, hyper-automation, autonomous things and AI security were at the top 3.

 

RPA is a type of IT solution that allows organizations to automate many of their tasks through the use of specialized software programs. Many business executives believe that RPA enables their companies to automate structured tasks that take just a few work steps and repeat themselves frequently – like transferring data from one IT system to another. RPA can relieve employees of tasks that consume a lot of time but do little to add value and are prone to errors – keyword typing errors. It also helps to automate routine jobs on the computer and processes to increase efficiency, improve service and save costs.

 

One should not think that RPA is similar to BPM. RPA only simulates human data entry and helps with simple and recurring tasks, to save time because the software does things in parallel that an employee can only work through one after the other. Such an application needs simple rules with few exceptions – and the biggest advantage is that, unlike humans, it runs around the clock. Unlike BPM which stands for describing, contolling, modeling, and optimizing the processes that are present in an organization.

 

Here below are the statists and trends of RPA that shows it’s worth:

 

    • RPA as an industry is growing exponentially– the global robotic process automation market size is expected to reach USD 10.7 billion by 2027, expanding at a CAGR of 33.6% from 2020 to 2027 – Grand View Research

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    • The RPA industry will grow from $250 million in 2016 to $2.9 billion in 2021. This is one industry that is growing at a lightning speed. It was already worth $1.7 billion in 2018 – Forrester

 

    • RPA will achieve “near universal adoption” in the next 5 years – Deloitte

 

    • By 2025, the market for collaborative robotics is expected to reach $12 billion – MarketsAndMarkets

 

    • By 2024, organizations will lower operational costs by 30% by combining hyperautomation technologies with redesigned operational processes. Gartner

 

    • The RPA fast adoption is helping business to reduce the operational costs and enhance overall customer satisfaction, improve transparency and visibility for service functions and reduce of manual efforts – Reportlinker

 

    • 11,214 results This is the number of open positions produced by a recent search for “robotic process automation”on LinkedIn’s jobs site. Titles vary within this growing IT jobs category, but “RPA developer” (and variations of the same) is an increasingly common one – reflecting the need for IT pros who can build the bots that enable organizations to offload repetitive, time-consuming tasks – LinkedIn

 

    • RPA deals with the application of advanced technologies including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans – Gartner

 

    • RPA is offering a lot of benefits to the business by giving access to collaborative intelligence where humans and technology works side by side so that they can perform their roles optimally. As employees don’t need to perform repetitive tedious tasks, they can be educated to work with automation tools and learn the latest business and marketplace information through machine learning – Xorlogics

 

    • The market for RPA in Healthcare is driven by the increasing demand to automate claims and process management. RPA vendors are focusing on developing best-in-class intelligent process automation bots – Research and Markets

 

2020: Year of Chatbots

chatbot artificial intelligence salesforce

 

Artificial Intelligence (AI) is all around us and we are taking advantages of it continuously via our smartphones, wearables, Internet of things, cars, home appliances, in our offices, in public services, in our retail experiences throughout media and beyond. AI has fulfilled its promises to fundamentally change our everyday living. Artificial intelligence (AI) has the potential to transform industries and the way organisations and professionals used to work. With the ability to learn and adapt, AI is capable to develop increasingly sophisticated capabilities that will allow it to execute a growing number of tasks that works perform manually today.

 

According to an April 2019 survey from Ada and Forrester Consulting, 89% of customer service decision-makers in Canada, the UK and the US believe chatbots and virtual agents are useful technologies for personalizing customer interactions. Another study from Juniper Research has found that the operational cost savings from using chatbots in banking will reach $7.3 billion globally by 2023, up from an estimated $209 million in 2019. This represents time saved for banks in 2023 of 862 million hours, equivalent to nearly half a million working years.

 

While there had initially been fears that AI would replace human workforce and take over jobs, the emerging consensus is that is proving to be a bonus for enterprises and human workforce because it will allow machines to execute repetitive, routine tasks while freeing human up to perform higher level activities that will increase their overall productivity. In addition to that, As AI has been identified as one of the biggest technologies for the economic growth. More and more business and governments are launching programmes designed for developing deep learning capabilities in AI in order to build an AI ecosystem.

According to PwC’s 22nd Annual Global CEO Survey, AI will add US$15.7 trillion to global GDP by 2030, which is more than the current output of China and India combined. Gartner predicts that 70% of organizations will integrate Artificial Intelligence to assist employees’ productivity by 2021. Business leaders know that those who take the lead now will get the biggest share of this prize. according to the latest Global CEO Survey, nearly 3 out of 5 Global CEOs believe AI will have a larger impact on the world than the internet revolution.

 

ARTIFICIAL INTELLIGENC LARGER IMPACT THAN THE INTERNET REVOLOUTION

 

These figures show that AI is increasingly making its way into any workplace with the help of virtual personal assistants (VPAs) and other forms of chatbots and expanding human performance in many organizations. For enterprises, AI chatbots offer a way to build a more personalized and engaging customer experience, which in return delivers a wealth of customer information that is highly valuable in better understanding their customers and growing their business.

US market researcher expected that 85% of consumer-business interactions would be through intelligent bots. The new online study from USU confirms a high potential for the customer service of the future. Here below are few key areas where businesses can derive value from chatbots:

 

    • Business are creating value through transforming customer journeys by providing immediate response to consumer’s queries or issues. According to McKinney’s study, 75% of customer demand NOW service within 5 minutes of online contact. If business can beat this time, they can convert a ‘visitor’ into a ‘paying’ customer.

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    • Staffing a 24x7x365 contact center mainly with human agents can be costly. According Human Resource Institute, it costs companies $10-$15k to replace one frontline employee. Therefore, it’s easier for Business to avail a 24/7 customer service via their chatbots ecosystem that are able to resolve customer queries related to i.e. complaints, product returns, refunds, tracking & tracing of orders etc in no time. According to a survey by Oracle, 80% of brands are planning to integrate Chatbots in their customer service by 2020.

 

    • Chatbots help to reduce costs by enabling enterprises to serve more customers without hiring extra staff as Chatbots are able of speeding up response times, freeing up agents for more challenging work, and answering up to 80% of routine question.

 

    • Chatbots not only help to reduce cost but they also drive more revenue by upselling as they can remember customer’s preferences, they are able to provide advice, tips and recommendations. All of this is possible if the chatbot is intelligent enough to know the customer’s buying journey.

 

 

Sources:

 

How to Deliver and Outstanding Customer Service in 2020

Customer Satisfaction 2020

 

Customer satisfaction is defined as a customer’s overall evaluation and experiences made with a certain business concerning its given products, the sales process, and the after- sale service. This overall satisfaction has a strong positive effect on customer loyalty intentions across a wide range of product and service categories (Gustafsson, 2005).

 

What a company thinks its customer wants is not necessarily the same as what they think they have to offer or they actually are offering to enhance their customer’s experiences (Hubert Rampersaud, 2001). In order to remain their positions and become the trendsetter in the new decade, companies must be careful enough if they are wondering what will affect customer experience (CX) or customer satisfaction in 2020.

 

A study by the American Society for Quality shows that 67% of customers leave a company because of an attitude of indifference on the part of a company employee, 22% leave a company because their loyalty isn’t rewarded, 34% of customers leave because of dissatisfaction with the product, 10% of customers leave for other reasons (death, relocation, etc.) and 99% of customers leave because of competitors and they believes that you don’t care about them.   Therefore, improving and personalizing customer experience is the top priority for over 55% of companies.

 

In order to have a continuous improvement of customer satisfaction, companies must respect a 4 steps cycle which starts with listening to voice and needs of customers then analyzing their comments, developing actions and at the end implementing. And to achieve a thorough customer satisfaction, companies need to implement good working condition for their employee’s satisfaction, which then will lead to loyal employees and by preparing all this, good production would be followed which will be influenced on customer satisfaction and retention by making them loyal.

 

More and more companies are implementing automation in their process for cost reduction related with customer services ‘human’ agents but a report from Forrester “Customer Service Chatbots Fail Consumers Today” shows that just 63% of consumers are satisfied with their experience with a chatbot”. Humans are still crucial to the service aspect of 2020 digital CX. They must work in collaboration with chatbots to provide the best customer experience possible.

 

Sometimes the key to your customer’s heart lies not so much in giving them what they ask for, but in anticipating what they will need and giving it to them before they ask. And you can do that by putting yourself in their shoes. Think about your memorable experiences that you’ve come across while shopping for a car, furniture, coffee, service etc. What needs and emptions you had while making a big purchase and how a company helped you or could help you to minimize your fears, make you feel appreciated and valued?

 

According to Accenture, 75% of consumers are more likely to purchase from a company that knows their name, their purchase history, and/or recommends items based on their purchase history. So, if you can guess and anticipate meeting your customer’s needs before they even know they need them, a greater success in achieving customer satisfaction and loyalty along with an enormous edge over any other competitor in your industry is guaranteed.

 

Sources:

 

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All-inclusive Security Approach for Next-Gen Endpoint Terminals

All-inclusive Security Approach for Next-Gen Endpoint Terminals

In the last 20 years of the information technology and the advancements of the cyberspace landscape has advanced non-stop, that’s why the future of cybersecurity is strongly connected to IT advancements. Along with the development in IT, cyber-hackers have also updated their strategies to evade the security measures in place, and the terminals remain their favorite targets.

 

Many studies have demonstrated that, in 2019, businesses of all sizes have faced more sophisticated and more dangerous cyber-attacks. Only in the first half of 2019, over 4.5 billion records from organizations around the word have been compromised via data breaches and cybersecurity attacks.

 

Now, with the cloud, IOT and mobile devices, endpoints have become the company’s new security perimeter. It is therefore increasingly critical to lock and secure them. There’s no doubt that companies continuously deploy numerous software on devices to secure them, such as, antivirus, firewall, intrusion detection, vulnerability management, Web filtering, antispam and many others. Yet, despite those solutions in place, many companies still suffer from security breaches.

 

In addition to that, as the trend of remote working is also escalating in 2019, companies are facing security challenges in terms of security and data protection, for those employees that are using their own devices, outside of business networks, or company premises. Therefore, securing Endpoint devices can be very challenging, especially when employees are using their own devices for work or using their work devices for personal usage out of company premises. And if they get their device stolen or hacked, it could lead to huge disaster, such as company accounts can be compromised. Therefore, YES, organizations and business around the world need to invest in Endpoint Protection solutions. With the help of these solutions, Endpoint devices can be secured with cloud based anti-virus installed on each Endpoint Device. And they need next generation protection in addition to their antivirus, prevention and detection of advanced threats.

 

Here below are listed few important criteria’s that companies need to take in consideration for a comprehensive endpoint security strategy: 

 

  • Preventing any attacks requires more than just a firewall or a single antivirus program. By implementing a combination of security strategies, including device firewalls, specific email Antivirus tools, internet security, mobile device management and security solutions, encryption and intrusion Detection tools, companies can avoid malware and stop it in real time. In addition, vulnerabilities can be identified and remedied to prevent malware entry. Importantly, prevention must cover the entire corporate network, including all endpoints.

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  • IT security teams must analyze and record, nonstop, each endpoint activity so they can detect all activity connected to any type of attack, including known vulnerability exploitation, zero-day attacks or non-malware- related intrusion.

 

  • 100% malware protection is not possible today, therefore, companies must opt for a system with which they can secure their endpoints round the clock and have an eye on any malicious behavior. They must learn from any past experience by understanding the actions an attacker may take in order to penetrate company’s network so they can enhance their security for future and also take things in control after a breach.

 

  • Administrators must be able to view activity that happens on the corporate network at any time in present or past. All endpoint security solutions must be able to offer real-time interactive reports on user activity. An overall view of the reports for events that occurred in the past must be available at anytime.

 

  • IT security teams must secure and enforce security policies on the all company devices, even those that employees can take out for remote working. They must install a suite of security control that protects sensitive data on those devices and endpoints by encrypting sensitive corporate data.

 

Sources:

Forrester: Rethink Enterprise Endpoint Security In The Cloud Computing Era

 

IBM: Protect critical assets: Safeguarding data, apps and endpoints

Hybrid Cloud Myths Busted

Often presented as a third path between the private cloud and public cloud, companies, consulting firms, suppliers and hosts have started to take their interest hybrid cloud. What is the hybrid cloud? There is no strict and standardized definition of what the hybrid cloud is, each player on the market (consulting firms, hosting companies…) have their own definition.

 

Hybrid-cloud-

 

For Forrester, the hybrid cloud presents itself as “an IT infrastructure model in which at least one external cloud service is integrated with an application, data source, or internalized infrastructure element”. For Gartner, “Hybrid cloud refers to policy-based and coordinated service provisioning, use and management across a mixture of internal and external cloud services”. Basically, it’s a mix use of public and private cloud which are used together to create value.

benefits of Hybrid cloud

Combining the benefits of public clouds such as agility and low cost, with the strengths of private clouds (control, performance and safety) the hybrid cloud brings the best of both technologies. These assets play an essential role in the success of companies, even if few of them still wonders what really a „hybrid cloud“ is. Two options are offered to businesses: get on the board or remain docked. To see more clearly, I propose to demystify the five major myths that usually surround the hybrid cloud.

 

Private + Public = Hybrid:

 

It is not enough to place together these two infrastructures to create a hybrid cloud. In fact, you may not gain any of the respective advantages of both types of clouds but end up multiplying the risk by both of them! First, by moving secure data to the public cloud, security breach can result in brand damage and loss of customers’ trust, and requires significant time and effort to remediate; secondly, migration of apps from a public cloud to a private cloud can lead to unexpected costs. By having a hybrid cloud, you control your workload, your network and storage resources while minimizing risk and increasing productivity.

 

A Hybrid Cloud is Complex and difficult to implement:

 

The use of complete IT solutions allows you to reduce complexity and to choose standard technology – (Microsoft, OpenStack, Vmware) on which your hybrid cloud is standardized, but also the type of public cloud with which the private cloud deployed on site by customer can interact. A complete solution accelerates three essential elements of development: – Integration of end-to-end testing to verify that all components work together; – Use of a converged infrastructure that simplifies the implementation and deployment; – Predefined plans for services, with workflows that must automate provisioning through a self-service portal.

 

The public cloud is more cost-efficient:

Cost savings via Hybrid cloud

A New study by IDG Research Services shows that if we take into account the governance issues, risk and compliance, the hybrid cloud displays in fact a lower total cost of ownership. When data or workloads migrate to the public cloud, it is easy to override local or international regulations on data protection. The local laws and requirements vary from market to market, and some are so complex that companies simply prefer to avoid public clouds. May be that’s why you may want to choose private cloud for sensitive workloads. In Germany for example, the rules on how data is stored and processed are especially strict. The solution lies in how to mix public cloud and private cloud offering each workload the advantages of one or the other, depending on their requirements.

 

On the cloud, the data control escapes you:

 

While extraction or data migration can be difficult via some particularly cloud service providers, a well-orchestrated hybrid cloud environment enable you to keep hand on your work. A well-managed hybrid cloud can provide quickly required public and private resources, provide IT departments a high level of visibility and control, as well as self-service and on demand access for developers and applications users.

 

It is difficult to know which applications are suitable for cloud:                

 

Companies are often hampered by the critical interdependencies of IT infrastructure, ignorance of their IT assets and their relationships to business applications. With a simple spreadsheet and without rigorous methodology, it’s impossible to know precisely if an application is suitable or not for cloud – and even less to know the position in a cloud architecture. Experts who use automated platforms for collecting and analyzing data can provide a complete comprehensive view of the application portfolio and tell whether you need to migrate, consolidate, modernize or simply stop the use of an application.          

 

hybrid Cloud as digital transformation

 

Even if the definition of hybrid cloud is still unclear, its undeniable benefits in terms of agility and cost reduction are now the essential model of tomorrow. Companies that are preparing or starting their digital transformation have every reason to anticipate a future adoption and now choose technologies that will integrate public and private worlds, i.e. converged infrastructure and proven software solutions.

 

Sources:

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Things you need to know about ‘The Internet of Things’

internet-of-things-IoT

Everyone has their definition of IoT: for me, for example, IoT is a system of interconnected computing devices via public or private IP. These devices have the ability to exchange, collect, analyze and transfer data according to instructions given to them, over specific network without human interaction.

 

We are living in a world where Internet of Things has caused a massive transformation in our way of living. Our phones, computers, fridge, machines, cars are the existing proof of IoT. Not only in our everyday life but we’ve seen a strong expansion of IoT in all industrial sectors. Furthermore Gartner predicts that more and more industry players advances step by step towards IoT adoption.

 

According to Forbes, more and more appliances are connected to the internet. Even though, in 2008, there were already more devices connected to the Internet than people on Earth, 87% of people ignores exact meaning and advantages of IoT but if we have a moment to look back in time, we can see that the automatic banknote dispensers were considered as the very first IoT devices. They are actually connected to the Internet since 1974 already!

 

Companies are beginning to understand the value of the IoT (return on investment, efficiency, productivity, etc.), so that sales of IoT solutions for professionals will accelerate to the point that companies will become the number 1 market adoption of the IoT. According to Mr Tully Gartner predictions, this year, 4 billion connected things will be use in the consumer sector and will reach 13.5 billion by 2020.

 

Internet of Things Units Installed Base by Category - Gartner

  • Furthermore, some 10 million ‘smart clothes’ would be connected to the internet. Thinking here of clothes able to control your heart beat or know the amount of liquid (sweat) you lose per day / hour.
  • In 2012, only 10 percent of the cars were connected. For 2020, it is expected that 90 percent of cars are connected to the net.
  • A connected kitchen – which maintains the products therein – allows you to save up to 15 percent annually by telling you, for example, the expiry date of products matured stored init.

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The IoT will certainly have a positive impact on economy and it will certainly create new business models. Data gathered in IoT represent a competitive advantage for companies and with the right tools, organizations can maximize their potential.

 

Sources :

 

Cloud computing adoption and growth

Cloud computing -BigData

Cloud computing is an IT approach that relies on shearing computing and application resources over internet rather than having local servers of personal devices to handle applications.

In cloud computing, the word cloud is used as a metaphor for “the internet”, so it’s a type of cloud-internet based computing. This computing approach brings several advantages to organizations by delivering them different services via internet. The most promising advantages are:

 

  • Reduction of maintenance costs of IT infrastructure
  • The rapidity of sharing data with one or more other users of CC. Possibility of creating a collaborative virtual platform
  • A free and open access to the client, which can establish its own connection anywhere and access their data immediately, without going through the establishment of a VPN (virtual private network) in the company.
  • Reduction of energy consumption

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Cloud computing IT infrastructure

In technological terms, 2015 was the year of “cloud”. According to research firm IDC, cloud computing now accounts a third of all IT infrastructure spending. For applications, Forrester suggests that overall worldwide spending on SaaS this year will reach $ 106 billion, about 17% of total spending in enterprise applications.

 

Such high figures demonstrate only the success of cloud computing.  In 2015, we saw the peak of Cloud computing hype with the potential to make any organizations more responsive than ever. The analysis firm Gartner predict how the cloud computing and applications transform enterprise computing in a better way.

 

Today, cloud computing has become essential in the business. The leaders have realized that it is more efficient and profitable for them to assign non-core processes to an external third party providers.

 

Cloud services in their various versions, SaaS (Software as a Service), PaaS (Platform as a Service) offers good opportunities to individuals and companies but still security and privacy continue to be the main inhibitors of cloud adoption because of insufficient transparency into cloud-provider security. Cloud providers need to demonstrate their capabilities to deliver services in a secure and reliable manner.

 

To summarize, We can see that in 2015 Cloud represents a radical change for companies and gain a competitive advantage. In short, more than a buzzword, cloud is a tool that can streamline your business processes and improve them.

 

Sources :

http://zd.net/1KM026q

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