The Intelligent Process Automation market is projected to reach USD 13.75 billion by 2023, with a significant rise (in CAGR) of 12%. These projections clearly show that Artificial Intelligence is the future. By 2019, AI technologies will reach more than 1.8 billion people generating revenues of about USD 539 million.
Automation is Needed Everywhere.
The need for automation is growing rapidly across all domains in the software development life cycle. Some major reasons for this include reduction in cost & time-to-market, increasing competition and demands from customers to deliver high-quality products on time while keeping costs low, or reducing human errors that come with manual testing.
The Benefits of Intelligent Automation:
There is a significant need and demand for Intelligent automation in almost all domains. These benefits include:
Automated testing can ease test case creation, maintenance, and execution by automating repetitive tasks. It also eliminates several processes that are not feasible to perform manually, such as regression testing or performance testing.
The time has come for digital transformation. Intelligent Automation (IA) is ushering in the Fourth Industrial Revolution and is rapidly transforming every aspect of our lives. From work to play, it gave us intelligent devices with capabilities that were only imaginarily possible just ten years ago! IA provides revolutionary potential by driving high-value customer experiences while reducing outcome variability. It can even help you make better business decisions leading towards innovation if used correctly.
The perks are not limited to just these benefits alone! According to research conducted by Right Relevance, it was found out that companies that have used intelligent automation saw an average increase of 10% in their team’s productivity, a 20% decrease in execution times, and 200% within six months of implementation.
Industries that are using IA
Many industries have started implementing IA into their system. Industries across a wide range of industries and government institutions have found that blockchain technology is an excellent fit for their needs. From banking to healthcare, blockchain is being used in almost every industry.
The current turmoil triggered by Covid 19 has shown that enterprises in every sector are showing high acceptance towards intelligent enterprise automation to cope with the technological evolution and become more agile during this pandemic-disrupted era.
The way forward
The future of Intelligent Automation is what everyone’s looking towards. We have seen that almost all the industries are adapting to IA; some have adopted it while others are still in the stretch of introducing it. So the discussion on where this technology is headed is absolutely crucial!
IA can either be used for increasing productivity or for reducing human error, which will make work easier and more convenient, but I do believe that there should be a balance between these two because automation cannot completely eliminate mistakes made by humans. Although this remains debatable, it would be safe to say that intelligent automation has given us an opportunity to move towards a better future with less human effort and greater accuracy.