Robotic Process Automation (RPA) has been a disruptive force for financial services, enhancing productivity and optimizing processes for many years. Starting off as a unidirectional software which could perform a limited set of processes as defined by the rules, the new generation of RPA robots is being increasingly self-aware. The RPA platform vendors are introducing cutting-edge tools with the application of advanced AI technologies (ML, NLP etc.), which enable the “bots” to learn and get better at what they do.
With the evolution of cognitive capabilities, the next wave of cognitive RPA will make the financial institutions to be more agile and responsive in their approach – just what is needed to survive in the rapidly evolving financial services market.