Computers have always been ultimately about automating repetitive human tasks, be that on the shop floor or the back office. And it’s a trend that has got a new, robotic face in the form of something called Robotic Process Automation (RPA), demand for which is set to hit $1.3 billion this year.
There’s an unquestioned bottom-line benefit in replacing staff with a robot worker when it makes sense. According to Softomotive’s 2018 survey of medium-sized businesses motives and experiences of RPA adoption, 44% identified reduced operating costs as a main benefit, while Indian IT trade body NASSCOM reported cost savings of up to 65% for members adopting RPA. Finally, the Institute for Robotic Process Automation calculates that software robots can cost as little as a fifth of the overheads involved in employing staff full time.
The rest of this article can be found exclusively on the Finance Digest website. Check out the rest of the article – ‘Why we need Robots Onboard’