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COVID-19 Raises Prospects for Robotic Process Automation
Reeling from the pandemic response executed by governments all the over world, companies are accelerating their implementation of low-cost automation. That bodes well for UiPath – a leader in robotic process automation (RPA) aiming to go public this year.
The “great lockdown” has had a dramatic and wildly varying effect across industries. Hospitality is enduring a massive blow and retail is barely limping along, whereas manufacturing is soldiering on and finance is perhaps all but unaffected.
What about healthcare?
Healthcare has predictably experienced feverish activity, whereby hospitals have deployed robots that shine sweeping ultraviolet rays onto every nook and cranny to sterilize wards. They have also deployed software bots to decrease the administrative workload on caregivers. Nurses and medics were thus able to spend more time with patients instead of wasting it on menial tasks.
By being more helpful with patients, healthcare givers effectively became even more valuable to society. Automation augmented their ability rather than stifled their potential.
The silver lining of COVID-19 is its catalytic effect on digital transformation. Companies that have been pondering this concept, planning for it or even making some progress toward it, are now putting it front and center.
Ensuring operation resilience has become a top priority for every organization in every industry. Resilience is a byproduct of digital transformation, and RPA is a component of that.
Profitability is a necessary precondition for a successful initial public offering. Therefore, to meet its objective this year, UiPath must show how its product elevates return on human capital, thereby improving net profit margins, and how that has had a positive effect on its own operation.
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