There are signals revealing an emerging trend of alliance between RPA and cognitive technologies such as natural language processing and machine learning. In this paper Deloitte recounts them and points to ways in which companies can use a mix of tools to achieve end-to-end automation of their processes.
Before they delve into that, the authors take a look at RPA’s function and associated benefits, and come up with real use cases to illustrate how some of their clients have managed to achieve compelling results. Since the RPA market is projected to become a $5 billion market globally by 2020, with a CAGR of over 60 percent, it is worth noting that “a third of global enterprises are already using bots within their IT and finance and accounting processes, with about a quarter adopting RPA within procurement and HR processes.”
So what about cognitive RPA? With natural language processing, chat-bot technology, speech recognition and computer vision technology, RPA extends to processes that require perception or judgement and integrates unstructured data into the automation. RPA vendors are now busy incorporating cognitive abilities into their product and also working third party providers of specialized cognitive tools to offer clients much needed solutions for the enterprise.
The implications of cognitive RPA are great and foretell a prolific future in which not only productivity is massively enhanced, but new strategic possibilities are envisioned.