As any year draws to a close, readers of business publications are treated to a bevy of experts predicting what technologies will drive a certain industry. Last week, Forbes and Gartner weighed in on what trends will be the most disruptive in the banking/financial services sector and data management.
While financial services was one of the first verticals to embrace robotic process automation (RPA), Forbes predicts it will emerge in 2020 as one of the seven most disruptive technology trends. RPA will automate low-priority customer queries on account and payment matters in banks, the claims-handling process in insurance, the application process for credit card companies and mortgage processing, among other tasks, according to Forbes.
In data management, Gartner is looking a bit farther forward. Rooted in RPA, Gartner identified hyperautomation as one of the ten trends that will drive how organizations manage and use data. Hyperautomation, the combination of multiple machine learning, packaged software and automation tools to deliver work, has substantial disruptive potential that is beginning to break out of an emerging state into broader impact and is expected to reach a tipping point over the next five years, Gartner said.
RPA will impact a wide variety of business verticals and you can expect it to be included in many lists like these over the next few years.