The future is with bots: How RPA is generating jobs
Robotic process automation (RPA) gained traction because of the wonders it can do for businesses across many industries. This was boosted when the pandemic hit, with a lot of people, including decision-makers, realizing the importance of automation in keeping the operations going and growing despite the drastic changes brought about by an uncontrollable situation.
RPA continues to boom. In fact, according to a study published by Grand View Research, the global robotic process automation market size which was valued at USD 1.57 billion in 2020 is expected to grow at a compound annual growth rate (CAGR) of 32.8% from 2021 to 2028.1
Time and again, the misconception about RPA replacing the human workforce with bots has been falsified by tech firms and experts. The real deal about this is how RPA opens opportunities not just for firms and organizations to embrace digital transformation but also for IT professionals to work alongside intelligent robots. After all, with the promising growth the RPA industry has seen in the past and the good outlook for the next few years, it’s clear that RPA will not diminish career openings but will generate thousands, or even millions of jobs.
Take for example what happened in the United Kingdom, as told by the results of a study released in 2015 by professional services firm Deloitte. It revealed that the adoption of artificial intelligence and automation in the UK eliminated 800,000 low-skilled jobs, but 3.5 million new jobs were created.2
“On average, each job created is paid approximately £10,000 per annum more than the lower-skilled, routine jobs they replace, resulting in a £140 billion net boost to the economy,” the study said.
In the local setting, RPA resulting in loss of jobs shouldn’t be an issue as well, according to a report published by McKinsey & Company titled “Seizing the automation opportunity in the Philippines.”3
“Some policy makers and employees worry that automation will increase unemployment. This need not be the case. History has shown that the adoption of technology leads to higher human welfare,” it said.
The study furthered that for the Philippines to fully realize the benefits of automation, business leaders should invest in technology, not just by means of transforming organizations but also in rapidly retraining workers. This means that RPA is also paving the way for a more skilled workforce.
As RPA continues to evolve just like any innovation, the roles needed to be filled by human workers are dynamic. Currently, the common job listing for RPA firms include developers, project managers, solution and RPA architects, business analysts, RPA consultants, and RPA technical writers, with an average salary ranging from $97,631 to $130,447 annually.4 In the Philippines, an RPA manager can earn up to around P144,000 monthly.5
Are you looking to pursue a career in RPA? Learn about automation and more through Robotic Automation Expert or RAX. You can talk to our RPA experts by scheduling a demo here.