The future of Business with RPA

 

Introduction

Robotic Process Automation (RPA) is the automation of processes that relieves employees from repetitive tasks allowing them to work on much human intelligence demanding tasks. It is an emerging technology in the field of computer science, information technology, electronics and communication, mechanical engineering, and manufacturing which is drawing much attention from corporations in recent times. It is the combination of hardware, software, and several communication networks to automate complex business processes.

RPA systems can do tasks with twice or thrice efficiency when compared to human labor, they are easy to design and the programming is not complex as the typical programming languages and it is non-intrusive, depending on the existing frameworks. It is transforming the way organizations work or operate, streamlining once manual processes and reducing the burden on human employees.

Business applications of RPA

RPA technology communicates with business systems and applications to increase productivity by leveraging a scalable digital workforce. It finds application in various business functions and industries like Human Resources, Auditing, Data governance and security, healthcare, telecom, banking, automobiles, aviation, supply chain management, etc.

RPA in Human Resources

RPA can be used in simplifying all major HR functions like recruitment, onboarding, employee data management, payroll processing, training and development, and employee exit management. The initial step of recruitment is resume screening which is highly time-consuming when done manually. The use of the RPA system i.e., the Applicant tracking systems can scan several such resumes in minimum time using job matching features which will filter out candidates who are suitable for the current job requirements and by activating an automated template for the user account's onboarding workflow, RPA can expedite the entire onboarding process. By using Human Resource information systems, sensitive data of employees can be stored and maintained easily which also helps in employee performance and incentives management, and payroll methodology or processing. These systems have made the lives of HR professionals much easier in recent times.

 

RPA in data governance and security

Data security has become a crucial component of any business infrastructure with the addition of the latest technologies, programs, and networks to business and robotic process automation is one such technological solution that is being embraced by organizations around the globe. As RPA systems are deployed to improve the efficiency and correctness or accuracy of business processes, they should have access to a plethora of confidential business and personal data which comes with the accountability of data security, but with the hybridization of RPA and AI automation, the cyber security threats can be minimized with enhanced data security.

 

RPA in Healthcare

Most of the healthcare industry leaders are now interested in RPA systems as they can reduce administration costs, efficiently increase the speed of patients data processing, and improve the accuracy of outcomes as the healthcare sector involves a humongous amount of data storage and channeling along with first-line patient calls, query solving on the websites which no longer require human intelligence. This will considerably improve the efficiency of the staff along with improved patient satisfaction and timely service provision.

RPA in Auditing

The typical auditing processes are time-consuming and labor-intensive. The commercial audit analytics software and RPA systems can automatically conduct pre-defined audit activities which will free up the time of auditors to take up the high-level task which demands professional judgment such as conflicting evidence analysis and according to the recent survey auditing results of RPA systems are found to be of 99.9% accuracy.

 

RPA in the Aviation industry

At present, RPA is used for revenue management using automated auditing software which simplifies the filing process of Passenger Revenue Accounting (PRA), Cargo Revenue Accounting (CRA), taxes, and employee payrolls. The trend toward contactless passenger experience at airports has been researched for years and the post-COVID-19 pandemic scenario has accelerated the use of contactless check-in and onboard assistance and Etihad airlines are the pioneer in testing 100% automated contactless service mechanism in April 2020. Researchers across the globe are now building autopilot systems based on machine learning and RPA which can easily switch between time zones and this will help the pilots avoid illnesses due to changes in time zone and climate over time.

Conclusion

The connection between technology and humans must evolve for the better in the future and RPA offers a clear path to higher business prospects and optimization across businesses. Every technology has its pros and cons and RPA provides value but limits transformation due to the bots' access requirements to a humongous amount of highly confidential data and high development and maintenance costs. But with time and advancing technologies, these minor inefficiencies can be rectified. With a growing number of business models embracing automation, it will only be a matter of time before the majority of organizations recognize the value of RPA technology in lowering costs, increasing efficiency, and enhancing the overall quality of various products and services and ultimately the entire business process.

 

Augmented or Virtual Reality ?

 

Introduction: 

Virtual reality (VR) and Augmented reality (AR) have an exciting impact on the future of gaming, marketing, e-commerce, education, and many more. Both technologies are known for their advanced knowledge that combines virtual and real-world with advanced 3-D images.

 In AR, the physical area is designed to coexist with the real world, to know and provide additional data about the real world, which the user can access without having to search. For example, AR industrial applications can provide problem-solving information as soon as the handset is directed to a failing device piece.

 Virtual reality involves a complete imitation of nature that replaces the user's world with a completely real world. Because these physical structures are perfectly formed, they are often designed to be larger than healthy ones. For example, VR can allow a user box with a cartoon version of Mike Tyson in the visual boxing ring.

It would be wrong to point out that Augmented Reality and Virtual Reality are intended to work separately. Specifically integrated to produce an enhanced sense of engagement where these technologies are integrated to transport the user to the imaginary world by providing a new element of interaction between the real world and the physical world.

What is AR? 

Almost anyone with a smartphone can access something that is not real, which makes it more efficient than VR as a branding and playback tool. AR transforms the ordinary, visually impaired world into a vibrant, vibrant image by displaying visual images and characters through a phone camera or video viewer. The unpopular reality of taxpayers we see can only add to what is happening in the real life of the user.

What is VR?

Virtual reality takes these same components to another level by producing computer-generated simulations of another world. These intricate simulations can create almost any visual or imaginative player space using special equipment such as computers, sensors, headsets, and gloves. 

Difference:

• AR uses a real-world setting while VR is completely realistic.
• AR users are capable of controlling their presence in the real world; VR users are controlled by the system.
• VR requires a headset device, but AR can be accessed via a smartphone.
• AR enhances both the visual and real-world while VR enhances only the mythical reality
• AR expands the real-world scene while VR creates virtual reality environments.
• AR is 25% virtual and 75% real while VR is 75% virtual and 25% real.
• In AR there are no headsets required on the other hand in VR, you need a headset device.
• With AR, end users are still in touch with the real world while communicating with the visuals around them, but through VR technology, the VR user is separated from the real world and immersed in the world of fantasy completely.
• VR restricts one’s vision and sometimes hearing, while AR enhances one’s real-world experience.
• Basic AR (Augmented reality) can function with 3 degrees of freedom whereas most of the VR (Virtual reality) applications can function with 6 degrees of freedom.

The future of AR and VR:

1.      Virtual Reality (VR) and Augmented Reality (AR) will repeat 21 times from 2019 -2022According to a study by the International Data Corporation (IDC), the VR and AR market will reach 15.5 billion euros by 2022. AR and VR spending would reach $ 18.8 billion by 2020, an increase of 78.5% over $ 10.5 billion, a five-year gain. annual growth rate (CAGR) of 77.0% to 2023.

2.      According to Valuates, the VR and AR market is expected to grow at a CAGR of 63.3 percent between 2018 and 2025. It will reach 571 billion CAGR by 2025. This growth will be largely due to the continued use of smart devices, the smart device. increased internet connection, and growth in mobile games.

3.      According to Valuates, the VR and AR market is expected to grow at a CAGR of 63.

4.      According to all the research studies, content growth in this market will be due to increased demand for AR and VR devices, as well as an increase in the number of AR VR headphone manufacturers such as Google, HTC, Oculus, and others. Users continue to download VR and AR content to their smartphones - especially AR-enabled mobile devices - from Google store, Oculus store, and more. The growing demand for 360-degree videos will continue to provide opportunities for content creators to provide this type of content.

5.      The training sector, especially for employers for training and advertising purposes, is expected to control the growth of the VR and AR market in the coming years. According to the report, companies such as Walmart, Boeing, UPS, and others are using AR VR for training purposes and this or that has always been a need for content.      

Conclusion:

This new, evolving technology creates endless business and employment     opportunities — By 2022, the AR and VR market is expected to grow to $ 209.2 billion. VR and AR transform industries through software development and computer hardware, image processing, research, and more. The much-needed tasks that enhance and enhance VR and AR technology include: Software engineering and development project management Software storage Graphic design Virtual and augmented realities in 2017 are already making dramatic leaps forward as start-ups find ways to introduce smell and touch to expand their sensory experiences. Technology company Immersion has introduced Touch Sense Force, using haptic feedback to bring player's hands into VR worlds, and researchers at Stanford University’s Virtual Human Interaction Lab are having to resist eating foam doughnuts as they experiment with adding scent to VR. Also, beyond the obvious media and entertainment applications for AR/VR technologies, design and engineering companies the likes of Solid works are demonstrating their commitment to immersive design with AR and VR-related partnerships, including NVIDIA, Microsoft, Lenovo, and HTC Vive.