What’s Beyond Robotic Process Automation

The insurance industry, which relies heavily on repeatable processes, is embracing robotic process automation (RPA).

Gartner projects that global RPA software spending will reach $2.4 billion in 2022. But organizations need to understand that RPA is a primitive technology. And it represents only a small part of what’s needed to scale and enable straight-through processing.

What businesses need for end-to-end automation is an integrated automation platform (IAP). RPA Is Very Basic -- And Does Not Know How to Learn.

Bots based on RPA can open spreadsheets and databases, copy data between programs, compare entries and perform other routine tasks, the Boston Consulting Group says. But BCG adds that ‘RPA is a Band-Aid.’

The firm explains that RPA can lead to a proliferation of spot fixes that threaten IT architecture and integrity. BCG also notes that RPA bots don’t get smarter with time and experience. ‘When rules conflict with reality or when unexpected events occur,’ the firm says, ‘a human needs to intervene.’