Scope of Robotic Process Automation in India
- August 1, 2019
- Posted by: iNurture
- Category: Blogs
The Indian IT industry is going through a major phase of transformation in the recent years. From the time when global experts predicted the death of Indian IT in 2016, till date where companies such as TCS are registering promising year-on-year growth, the sector, through its efforts, has made a strong comeback in the global market. Working towards the expectations of its reputed clients, the information technology sector of India is moving towards delivering new-age digital technological solutions. A report in The Economic Times says companies which were once maintaining backend infrastructure of large corporations are now focussing on developing and maintaining front-end customer facing solutions for their clients. This shift in the offerings from Indian IT has been positive as far as the job market is concerned and one can say the arrival of new technological solutions has paved way for new career opportunities for students.
Robotic process automation and Artificial Intelligence are among the various technological solutions that are gaining grounds in the global business space, the others being cloud, mobile applications development, Internet of Things etc. As a result of the shift towards digital technology innovation in the Indian IT, lakhs of jobs are expected to be created in the years to come. As per a survey from TeamLease, around 2,50,000 new jobs may be created in the Indian IT sector in the year 2019. AI, automation and robotics are expected to bring about major changes in the job market in terms of knowledge and skill requirements. Therefore, it is inevitable for aspirants to be prepared for new-age job roles in the near future.
Robotic Process Automation – How it is addressing real-world business problems
Robotic process automation is already in use in many areas which you may be unaware of. Be it your online shopping site or your online credit card application processing, RPA plays a sophisticated role in the back-end ensuring that your digital experience is smooth. There are many industries which are increasingly adopting RPA tools to increase their efficiency and reduce errors, ultimately achieving enhanced consumer experience. A few examples are listed below.
Banking and Financial Services
Banking and financial services sector takes care of loads of applications and transaction requests on a day-to-day basis, most of which are in digital format. Therefore RPA finds great application in the sector. Some of the key areas where RPA is used are accounts payable – wherein vendor data is read, valid and transaction is enabled, customer services – wherein automated chat bots respond to queries of customers and in KYC – wherein the information related to customers is validated by RPA systems.
Like the financial services industry, the healthcare sector too deals with humongous volumes of patient data and requests. Two key areas where RPA has been finding application in Indian healthcare sector are registration of patient appointments and in managing claims of insurance. RPA tools can be implemented to perform certain tasks such as recording and validating patient information in the above cases.
Robotic Process Automation finds many applications in the retail industry too. For instance, online shopping sites make use of RPA to perform various tasks such as payment processing, inventory management, customer service etc.
Future Job Prospects for RPA in India
Experts say that India has two advantages as far as the global RPA market is concerned. It has both the workforce and the innovative capabilities required for RPA. Companies from around the world have relied on the operational expertise of Indian service providers for decades. With the necessary technology, workforce and infrastructure in place, India is in the best position today to become a global hub for RPA. Daniel Dines, CEO and Co-Founder of UiPath says, there may be nearly 2 lakh jobs created in RPA in India by 2021. With soaring demand for new technology professionals, it is up to the educational sector to create the necessary talents for the domain.
Educational institutes and EduTech companies have been working towards designing programs that suit the needs of the current IT market. Though there are numerous certificate programs, the B.Tech and BCA programs in Artificial Intelligence and Process Automation offered by iNurture Education Solutions is one of the best offerings in the industry since the curriculum of the programs is continuously updated based on the advancements in technology. The programs offer various other advantages such as industry interaction and tech-enabled learning. Fill in the form and our career counsellor will reach you with further details.