The Advantages of Robotic Process Automation for Experts in India

Cursory: The Honorable Mr. Narendra Modi, India's Prime Minister, has recently introduced a novel initiative named FutureSkills with the objective of transforming the upcoming workforce in the nation. This program highlights the significance of RPA, which has emerged as the latest trend in the market.

The Advantages of Introducing Robotic Process Automation in India:

Organizations allocate a substantial number of human resources to handle extensive tasks with high volumes. Over time, these tasks evolve into rule-based processes that are exceptionally repetitive and monotonous. While the human resources engaged in these operations have the potential to contribute to more productive endeavors, the current processes are inevitable, leaving no alternative means of execution.

This is where Robotic Process Automation, or RPA for short, enters the equation.

RPA - What Does It Entail? RPA software robots have the capacity to replicate human actions precisely, eliminating errors and completing projects in half the time required by human resources. This exemplifies the true potential of RPA, as it elevates process productivity without necessitating additional human resource investments. Consequently, there is now a method for automating routine processes, enabling resources to engage in more significant projects and transform their roles.

RPA Adoption in India:

India is poised for widespread integration of RPA technology, with major IT companies leading the way in leveraging it to lower operational costs, which they then pass on to their clients. The banking sector, in particular, has embraced this innovative solution, experiencing a rapid uptake. Proof of Concept (POC) initiatives is underway in various industries, and we anticipate a broad deployment of bots in the near future.

Driving Transformation:

In order to stay ahead in our rapidly evolving world, it is essential to rethink the curriculum offered by engineering colleges in our country. The upcoming generation must understand that the knowledge they are currently acquiring is already outdated in the job market, and they must continually update their skills with emerging technologies that are shaping the future. A straightforward approach would be to utilize the FutureSkills platform as a foundation for a new learning paradigm. In the event that this transition takes time, given the pace of systemic changes in India, educational institutions can introduce 'Express' courses and motivate students to enroll in them.

Employment Generation:

There is currently a fear that RPA (Robotic Process Automation) will result in job losses. However, this is an opportunity for RPA providers to step up as leaders, offering guidance and education to their clients. While there might be an impact on roles involving repetitive tasks, there's potential to transition these skill sets into more meaningful positions.

Conversely, RPA is poised to generate numerous entirely 'new' jobs that will experience significant growth and industry support. These roles will directly contribute to enhancing business growth and productivity.

Talent:

Indian professionals possess robust domain knowledge and are increasingly merging technology with their expertise, particularly in Robotic Process Automation (RPA). This fusion has created a substantial talent pool in RPA, poised to command higher incomes and draw significant numbers due to the widespread opportunities it presents across industries.

Various roles such as Bot Managers, Infrastructure Staff, and Implementation positions emerge from this expertise. However, this advancement occurs alongside layoffs in several sectors where technology proves to be more efficient in certain job areas.

Positive outlook:

Amidst the ongoing global shift towards Business Process Automation, commonly recognized as the 4th Industrial Revolution, it's crucial to maintain a positive outlook. A recent study from Everest Group indicates that nearly 80% of industries have found Robotic Process Automation (RPA) to not only meet but exceed their expectations. This success isn't limited to a single sector; RPA demonstrates impressive scalability across organizations. According to the report, 40% of enterprises have already made investments in RPA, Internet of Things (IoT), Artificial Intelligence (AI), and other automation technologies, actively progressing on their automation journey.

India is increasingly embracing Robotic Process Automation, a trend set to result in the employment of up to 200,000 professionals. Renowned industry experts such as Bobby Patrick, serving as the Chief Marketing Officer at UiPath, a leading company in the automation sector, foresee India as a potential leader in automation due to its vast workforce undergoing reskilling initiatives.

Technologies such as Robotic Process Automation in Intelligent Business Process Automation have gained significant traction by allowing companies to automate repetitive yet essential tasks. Various sectors including Retail, Outsourcing, and Finance have begun integrating this automation into their operational processes.