Emerging Trend in Science and Technology - Robotic Process Automation

1. Presented By
B.Sakthimala
Assistant Professor
Department of Business Administration
Marudhar Kesari Jain College for Women
Vaniyambadi

2.  Productivity improvement continues to be an important key
performance indicator (KPI) for any organization.
 Automation of activities can enable businesses to improve
performance, by reducing errors and improving quality and
speed, and in some cases achieving outcomes that go
beyond human capabilities.
 Automation also contributes to productivity growth and
improvement.
 it gives workers time for more higher-value tasks such as
problem-solving, finding solutions and developing new
ideas.

3.  Robotic process automation (or RPA) is a form of business
process automation technology based on metaphorical
software robots (bots) or on artificial intelligence
(AI)/digital workers.
 A Bot is an agent that interprets and executes tasks on your
behalf. Bot automation employs software bots to complete a
task or set of tasks without human intervention.
 RPA not only improves human productivity exponentially,
but it also provides a host of other benefits, such as reduced
error rates, improved compliance, and increased employee
morale.

5.  Task bots are bots that are used to automate
rule-based, repetitive tasks.
 Task bots are usually beneficial in document
administration, claims management, HR
department, IT, etc.
 They enhance productivity, error reduction,
and cost-saving.

6.  Meta bots are known as automation building
blocks that facilitate scalability with next-
generation integration.
 These are designed for complex, scalable
processes.

7.  IQ Bots is an advanced tool that includes the capability of
thinking like a human. IQ bots are also referred to as
Cognitive bots. These bots are developed to learn on their
own and perform the tasks according to it.
 IQ bots use advanced cognitive technology and advanced
artificial technologies that enable users to experience the
power of automation.
 These bots include features like self-learning, decision
making, and subject matter expertise, etc. and can extract
data from semi-structured and unstructured data.

8.  Almost all the repetitive and rule-based digital processes
can be controlled by RPA BOTS.
 It uses GUI to control the processes just like a human.
 It can also automate complex processes and efficiently
complete them.
 Some of the process includes; Data extraction and
submission, Data comparison and validation, All windows
and web-based user actions, Navigation through web,
windows, cloud, legacy systems, Rule-based decisions etc.,

9. BFSI Sector take the lead in RPA implementation with such
processes as:
 Automating operations — account opening/closing,
customer data updates, and payment processing
 Accelerating underwriting — analyzing semi-structured and
unstructured data to streamline document-intensive risk
assessment and loan/mortgage origination processes
 Improving compliance — know your customer (KYC) and
anti-money laundering (AML)

10.  Improved Efficiency
 Greater Productivity
 Elimination of Human Error
 Cost Savings
 Lower Turnover

11.  Monetary Expense
 Lack of Technical Ability
 Major Change
 Redundancy

12.  Robotic process automation is being touted as one of the
most innovative tools in the modern workplace. And while
many businesses are already singing the praises of effective
RPA technology, some remain hesitant over whether such
tools are really worth the investment.
 In reality, almost all of these so-called disadvantages of
robotic process automation ultimately stem from lack of
understanding and fear of change. When these obstacles are
adequately addressed, the benefits of RPA can fully
embraced and realized.
 For instance, becoming educated on the various options,
objectively weighing the many benefits, accurately assessing
ROI and addressing the irrational misconceptions of
employees can help make the adoption of automation a
much more positive experience.