The next acronym you need to know about: RPA (robotic process automation)
RPA is a promising new development in business automation that offers a potential ROI of 30–200 percent in the first year. Employees may like it too.
Robotics are beginning to have a profound effect on business. In this interview, Xavier Lhuer, an associate principal in McKinsey’s London office, speaks with Leslie Willcocks, professor of technology, work, and globalization at the London School of Economics’ department of management, about his work on robotic process automation—its impact on work, and how companies can capture its strategic and financial benefits.
- The definition of robotic process automation (RPA)
- How RPA is different from cognitive intelligence
- The business benefits of RPA
- Examples of a process where RPA has been used
- The most important considerations for those wishing to adopt RPA
- How companies choose whether to implement an IT solution or RPA
- How the two departments work together
- The long-term impact of robotic process automation