A Sign of What’s to Come
UiPath’s successful IPO and Automation Anywhere’s recent announcement that they are also seeking a public offering in 2021 should be a huge sign of what is to come. The RPA Software market is expected to generate close to $2 Billion this year and the estimated market for intelligent automation presently around $500 Billion in 2021.
Companies have experienced significant uneasiness to spend money on large scale digital initiatives since the start of COVID. While there are outliers, most of my peers in the industry report similar and sporadic spending on Automation projects. That time is clearly coming to an end. Report after report describe a tight and unavailable labor market . Cost pressures are forcing companies to do more with less while also trying to increase productivity to keep up with pent up demand. I believe this theme will carry on for the next two years as the world recovers from this transformative pandemic.
It is Our Time
As an Automation Solution provider, I realize it is our time. In recent years, The technology is used in various ways with the thought of where it could lead. My thought is as I have talked about in previous blogs, we are at a watershed moment in human history. For the first time, technology is going to work for human’s vs humans working for technology. We have been at the mercy of computers for far too long. Repetitive data entry and countless hours wasted navigating business applications. We will soon realize the virtue of software automation, specifically Robotic Process Automation, AI and ML.
The Time to Automate is Now
At this point, based on what the perceived backlog is, and the incredible productivity pressures faced, every company that wishes to stay relevant, profitable, and competitive MUST adopt a serious automation strategy as soon as possible. Organizations cannot afford to have their high value knowledge workers spending time on easily automated tasks. Whether it be day to day tasks that are specific to groups and or individuals, a Citizen Development program is imperative.
It is estimated by 2024, Low Code will handle 65% of new application development and non-traditional developers will create them in many cases. While a solid Citizen Development initiative can help enormously, it cannot stop there. The use of governed,widely distributed Digital Assistants identified either through process discovery, Citizen Development program or business-identified. Pushing bots out to thousands of desktops instantly and providing immediate ROI. Like everything else in an automation initiative, its agile in design and continuously improving. Lastly, unattended back office bots can work in concert with digital assistants, with a human in the loop. experience. Or,they can do what they have always done. Automate work.
The time is now to adopt an Automation Strategy.
As always, we are here to help.
Written by: Peter Camp, CTO & Founder, CampTek Software