It’s no secret that data is the lifeblood of more and more companies. While it brings many benefits for those who use it wisely, it creates just as many constraints for those who don’t. Managing huge volumes of data entails processes that are boring and repetitive but difficult to automate. But luckily, AI is the solution to (almost) everything, and by combining it with RPA (Robotic Process Automation) solutions, engineers have been able to gradually automate increasingly complex tasks. This transition is very similar to the mechanisation of factories: freeing employees from repetitive and uninteresting tasks so they can focus on the central and value-creating aspects of their job. The story of UiPath – the first RPA platform – illustrates the popularity of this process: it increased its revenue eight-fold in 2017 and in early 2018 raised over $150 million in financing. RPA is proving particularly popular in sectors that deal with large volumes of data on a daily basis, such as banking and insurance, and where the average return on investment is 60-70%! If you want to know more about RPA, then take yourself off to the UiPath Together in La Défense business district in Paris.
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