Report on special guest lecture and interactive session delivered Dr R K Tailor on Robotic Process Automation (RPA)

On Monday, 27th March 2023 at 11.00AM, Dr. R K Tailor gave a talk on “Robotic Process Automation.” The talk was an informative and insightful presentation on how robotics and automation are revolutionizing the business environment. In this report, we will summarize the key points of the talk and their implications for the Business.

Dr. R. K. Tailor who is working as Associate Professor in Department of Business Administration at School of Business & Commerce, Manipal University, Jaipur, Dr Tailor, who holds a PhD in Commerce and has over a decade of research experience in the field of robotic automation and has numerous publications in journal of repute in the same field.

The session began with the introduction of the speaker by HOD Prof. Harish Machia. Followed by a brief introduction, the stage was given to Dr. RK Tailor for his talk.

Robotic Process Automation:

Dr. RK Tailor began the talk by discussing about what Robotic Process Automation is, what its prospects are and how it is useful in the field of management. He noted that many organizations are still relying on manual processes that are time-consuming and prone to errors. This results in inefficiencies and decreased productivity, which can lead to increased costs and decreased profitability. He then introduced the concept of robotic process automation (RPA) as a solution to these challenges.

RPA is a technology that allows organizations to automate repetitive and mundane tasks by using software robots. These robots are programmed to perform tasks such as data entry, reconciliations, and reporting. They can work 24/7, don’t need breaks or vacations, and can be scaled up or down as needed. Dr. RK Tailor explained that RPA is not intended to replace humans but to augment their capabilities by freeing them up to focus on more value-added tasks.

Dr. RK Tailor then provided several examples of how RPA have evolved from the inceptive stages of Desktop Automation, to Machine Learning, Artificial Intelligence & finally the RPA. Since AI is the trending topic in current days, he emphasized that RPA can be used in conjunction with other technologies such as artificial intelligence (AI) and machine learning (ML) to further enhance its capabilities.

Dr. RK Tailor then discussed the benefits of implementing RPA and the challenges during the implementation. He touched upon the in the various application of RPA in the fields of the management such as HR, Finance, Marketing and even in Academic Research etc.

One example Dr. RK Tailor gave was the application of RPA in accounts payable and accounts receivable. He explained that RPA can be used to automate the process of matching purchase orders, invoices, and receipts. This not only saves time but also reduces the risk of errors and fraud. Some of the major institutions in India, like Income Tax Department, Indian Railways and others, have already implemented this system. This gave students a clear picture how credible and dependable the technologies such as AI and RPA are..

One major challenges to implementation of RPA is fear and resistant to change by employees. Dr. Tailor gave clarity about replacing the workforce. Implementing RPA doesn’t result in replacing the employees, rather it requires shifting employees. However, if an employee does not upgrade his/her skill and competence level, then that may result in loss of job. This can be if employees embrace the change. In addition, he also said that AIs are the output of humans intelligence, hence it require lot of workforce in the backed to make it work flawlessly.

Conclusion:

In conclusion, Dr. RK Tailor’s talk on “Robotic Process Automation” provided valuable insights into the ways in which robotics and automation are changing the accounting and finance industry. The use of RPA can help organizations improve efficiency, reduce costs, and improve accuracy. However, it is important to note that RPA is not a silver bullet solution and requires careful planning and implementation. As such, organizations should seek guidance from experts in the field to ensure that they are using RPA effectively and efficiently.

Then the Dr. RK Tailor took questions raised by the students. The session was concluded with a positive note by the speaker and as a token of respect; Mrs Dhanalakshmi P rendered a vote of thanks.