Robotics and Robotic Process Automation (RPA).

Robots first appeared over 500 years ago, and their evolution accelerated through the industrial revolution and accelerated faster still during the computer era. Commercial and industrial robots are now in widespread use performing jobs more cheaply or with greater accuracy and reliability than humans. They are also employed for tasks which are too dirty, dangerous or dull to be suitable for humans. Robots are widely used in manufacturing, assembly and packing, transport, Earth and space exploration, surgery, weaponry, laboratory research, and mass production of consumer and industrial goods.

It was estimated by the IEEE that the world industrial robot population would reach 13 million by around 2011 or 2012[i]. The International Federation of Robotics (IFR) predicts that by 2019, more than 1.4 million new industrial robots will be installed in factories around the world[ii].

[i] https://spectrum.ieee.org/automaton/robotics/industrial-robots/041410-world-robot-population

[ii] https://ifr.org/ifr-press-releases/news/world-robotics-report-2016  

Figure 13. Robotics

Robotic process automation (RPA) is the use of software as “virtualized workforce” to perform tasks such as processing a transaction or completing a process in front of a computer screen. RPA automates digital processes and is particularly useful for ‘swivel chair’ tasks in areas such as compliance and Know Your Customer (KYC), where tasks often involve cutting and pasting from one source to another and amalgamating information. Robotics and RPA are similar in most respects apart from their outputs.

Figure 14. RPA