In 2021, it is estimated that 10.9 billion U.S. dollars will be spent on intelligent process automation (IPA). While in that same year, robotic process automation (RPA) and artificial intelligence (AI) business operations are expected to have less spending overall with 5.4 and 4 billion U.S. dollars, respectively. However, by 2023, RPA and AI business operations are expected to gain significant traction.
Differences between RPA, IPA, and AI operations
Each of these digitalized processes are relatively similar, however, they each have different functions. Robotic process automation (RPA) examines large volumes of data from software processes and translates them to potential triggers for new actions, responses, and communication with other systems. RPA is typically associated with software robots or “bots” that handle repetitive rule-based digital tasks. On the other hand, intelligent process automation (IPA) allows for business functions that are automatically enabled, that allows the robots to learn from performing their tasks. IPA is therefore, more “smart” and more flexible since it is not rule-driven. The “smartest” of these is artificial intelligence (AI) operations. AI operations simulates human thought processes across the enterprise operations, without manual intervention like with RPA and IPA, and involves self-learning systems more advanced than IPA.
Impact on workforce
Each of these technologies have the potential to impact the human workforce in various industries, displacing many from their previous roles. For example, startups such as UiPath are using RPA to take over repetitive and routine data entry and basic processing tasks, especially in the healthcare industry. The main strategy to combat the displaced workforce from the intelligent automation technology deployment is retraining the employees to work on new business needs that are beyond the scope of the automation and AI business operations. This could be anything from exception handling to perhaps more customer-facing roles.
Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment
(in billion U.S. dollars)
* forecast
The source defines the three categories as follows:
"RPA Definition: RPA describes a software development toolkit that allows non-engineers to quickly create software robots (known commonly as "bots") to automate rules-driven business processes... Intelligent Process Automation Definition: Intelligent Process Automation (IPA) is the use of technology to allow a business function or part of the operation of a process workflow work automatically... AI Definition: AI refers to the simulation of human thought processes across enterprise operations, where the system makes autonomous decisions, using high-level policies, constantly monitoring and optimizing its performance and automatically adapting itself to changing conditions and evolving business rules and dynamics."
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HFS Research. (January 23, 2020). Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment (in billion U.S. dollars) [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/
HFS Research. "Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment (in billion U.S. dollars)." Chart. January 23, 2020. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/
HFS Research. (2020). Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment (in billion U.S. dollars). Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/
HFS Research. "Robotic/Intelligent Process Automation (Rpa/Ipa) and Artificial Intelligence (Ai) Automation Spending Worldwide from 2016 to 2023, by Segment (in Billion U.S. Dollars)." Statista, Statista Inc., 23 Jan 2020, https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/
HFS Research, Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment (in billion U.S. dollars) Statista, https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/ (last visited October 03, 2024)
Robotic/intelligent process automation (RPA/IPA) and artificial intelligence (AI) automation spending worldwide from 2016 to 2023, by segment (in billion U.S. dollars) [Graph], HFS Research, January 23, 2020. [Online]. Available: https://www.statista.com/statistics/740436/worldwide-robotic-process-automation-artificial-intelligence-spending-by-segment/