The digital workforce is the frontline of intelligent automation. It weaves together RPA, artificial intelligence (AI), and machine learning to create virtual employees that are ready to deploy directly into the fabric of work and advance the augmentation of human efforts.
RPA (Robotic Process Automation) and AI (Artificial Intelligence) are two distinct but overlapping areas of technology. We’ve often found that the clear demarcation between the two isn’t commonly understood, leading to the question, “Is RPA AI?” To be clear, RPA is not AI, but it can be used to help AI perform simple tasks. With RPA solutions continuously becoming more featurized, it can begin to look similar to technologies such as AI.
AI adoption at several organizations across industries is speeding up like never before.
According to the McKinsey’s State of AI in 2021 Survey, AI adoption is continuing its steady rise. As per the report, 56 percent of all respondents report AI adoption in at least one function, up from 50 percent in 2020.
Several industries, including life sciences, government, banking, and manufacturing, are adopting and using blockchain as it offers enhanced security, greater transparency, and instant traceability.
Unsurprisingly, worldwide spending on blockchain solutions is expected to grow from 4.5 billion U.S. dollars in 2020 to an estimated 19 billion U.S. dollars by 2024, says Statista report.
Companies across sectors are embedding technologies across their businesses to drive fundamental change. Such digital transformation efforts are in full swing with investment pouring in like never before. International Data Corporation (IDC) reports that global spending on the digital transformation of business practices, products, and organizations is expected to reach USD1.8 trillion in 2022, an increase of 17.6% over 2021.
Technology has progressed by leaps and bounds in the last few years. Communication options available to companies today would have been deemed impossible just 10 years ago. A physical office space is no longer the home of an organization’s communication. The advancements to online communication has made offices a virtual connected space that can be accessed from almost anywhere. However, with such powerful tools at our disposal, a burning question comes to mind – are you utilizing this technology to its fullest extent?
Robotic process automation (RPA) can cut costs for financial services firms by up to a staggering 75% says a KPMG report. With the help of RPA, Europe’s one of the largest manufacturers, Siemens has automated its 220 processes and 28000 hours.
With digital disruption rapidly changing the business landscape, more companies consider migrating operations to the cloud. The ability to use on-demand, scalable cloud models to achieve efficiency and business continuity, provides the impetus for organizations to accelerate their digital business transformation plans rapidly.
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Software project outsourcing is a key strategy for businesses looking to accelerate growth and stay ahead in a competitive market. In this blog, we will discuss how outsourcing software development can provide access to specialized skills, reduce operational costs, and enable scalability.
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