{"id":5643,"date":"2019-11-13T07:00:06","date_gmt":"2019-11-13T12:00:06","guid":{"rendered":"http:\/\/flevy.com\/blog\/?p=5643"},"modified":"2020-12-18T22:38:27","modified_gmt":"2020-12-19T03:38:27","slug":"where-will-we-feel-the-greatest-impact-of-robotic-process-automation-rpa","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/where-will-we-feel-the-greatest-impact-of-robotic-process-automation-rpa\/","title":{"rendered":"Where Will We Feel the Greatest Impact of Robotic Process Automation (RPA)?"},"content":{"rendered":"

\"\"Disruptive technologies are helping companies automate work.\u00a0 Robotic Process Automation<\/a> and Artificial Intelligence<\/a> are taking up jobs which were in the past earmarked only for smart humans.\u00a0 Driver-less cars, automated check-in kiosks at airports, and autopilots steering the aircrafts are just few instances of how automation is transforming our world.<\/p>\n

However, automation presents unique challenges that organizations need to identify and mitigate appropriately. \u00a0These include costs associated with job losses; confidentiality of data; quality and safety risks stemming from automated processes; and regulatory implications.<\/p>\n

Other critical factors to consider before investing in automation are adoption, pace of development of automation, and readiness of organizational leadership in redefining processes and roles to support automation.<\/p>\n

The key question is how automation will impact our work in future.\u00a0 Should we anticipate benefits\u2014e.g., efficiency gains and quality of life improvements\u2014or dread further disruption of established business and job cuts?<\/p>\n

Research by McKinsey suggests that Robotic Process Automation will impact 4 workplace areas<\/a> the most:<\/p>\n

    \n
  1. Workplace Activities<\/strong><\/li>\n
  2. (Re)definition of Work<\/strong><\/li>\n
  3. High-wage Jobs<\/strong><\/li>\n
  4. Creativity and Meaning<\/strong><\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    Now, let\u2019s discuss the first two key areas in further detail.<\/p>\n

    Workplace Activities <\/strong><\/h2>\n

    Research findings (based on the US labor market data<\/a>) reveal that the future does not likely hold complete automation of individual jobs, but rather automation of certain activities within specific occupations.\u00a0 The assumption that only routine, codifiable activities can be easily automated\u2014and those that necessitate implicit knowledge will be unaffected\u2014is misleading.\u00a0 Automation has already reached (or surpassed) the median level of human performance in some cases.<\/p>\n

    Capital or hardware-intensive industries\u2014under stringent regulatory control\u2014are slow and expensive to automate and need more time to reap return on investments.\u00a0 Whereas, the sectors where automation is mostly software based (e.g., financial services) may create value at a far lower cost and within rather shorter span of time.<\/p>\n

    (Re)definition of Work<\/strong><\/h2>\n

    The current level of automation can potentially transform a number of occupations to a certain level, but it requires redefinition of job roles and activities.\u00a0 Research reveals that only about 5% of occupations can be completely automated with the current level of technology.<\/p>\n

    In spite of this, automation can boost human productivity even in the highest paid occupations by taking care of repetitive daily tasks\u2014e.g., analyzing paperwork, reports, data and evaluating applications based on criteria\u2014and freeing up time for people to focus more on high value work that involves human emotions and creativity.<\/p>\n

    For instance, Automation<\/a> and Machine Learning<\/a> can automate diagnosis of common ailments, thereby enabling the doctors to concentrate more on acute or complicated problems.\u00a0 Likewise, lawyers can employ data mining tools to sift through piles of documentation to isolate the most relevant cases for their review.<\/p>\n

    Interested in learning more about the other key areas most impacted by Robotic Process Automation<\/a>?\u00a0 You can download an editable PowerPoint on <\/u><\/a>Impact of Robotic Process Automation <\/u><\/a><\/strong>here<\/u><\/a> on the Flevy documents marketplace<\/a>.<\/p>\n

    Do You Find Value in This Framework?<\/h2>\n

    You can download in-depth presentations on this and hundreds of similar business frameworks from the FlevyPro Library<\/a>. FlevyPro<\/a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:<\/p>\n

    “My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market. They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions. I strongly recommend FlevyPro to any consultant serious about success.”<\/p>\n

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    “FlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients. In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over! The quality of the decks available allows me to punch way above my weight \u2013 it’s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.”<\/p>\n

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    \u2013 Omar Hern\u00e1n Montes Parra, CEO at Quantum SFE<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

    Disruptive technologies are helping companies automate work.\u00a0 Robotic Process Automation and Artificial Intelligence are taking up jobs which were in the past earmarked only for smart humans.\u00a0 Driver-less cars, automated check-in kiosks at airports, and autopilots steering the aircrafts are just few instances of how automation is transforming our world. However, automation presents unique challenges… Where Will We Feel the Greatest Impact of Robotic Process Automation (RPA)?<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":5645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[84],"tags":[1800,1802,1801,1798,1799,824],"class_list":["post-5643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-information-technology","tag-automation","tag-intelligent-machines","tag-machine-learning","tag-robotic-process-automation","tag-rpa","tag-transformation"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=5643"}],"version-history":[{"count":7,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5643\/revisions"}],"predecessor-version":[{"id":7865,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/5643\/revisions\/7865"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/5645"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=5643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=5643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=5643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}