By Mwalimu Mutemi via fb
As we teach our kids to clean markets via CBC even accounting jobs are being taken over by Artificial Intelligence and bots… welcome to the 4th industrial revolution while we’re still stuck in the 1st!
“Interface is crucially important to Dines because his ultimate product is something invisible to the human eye. UiPath creates bots—blocks of code that automatically carry out repetitive tasks. You might associate bots with Russian election ruses or customer service stand-ins, but UiPath recently garnered a $7 billion valuation by selling a more humdrum kind that can pull numbers from invoiced PDFs into accounting software, or process insurance claims—the mindless tasks that, like those of bank tellers or telephone operators generations ago, cry out to go the way of the dodo.
This shift—which has spawned an entirely new tech category, known as “robotic process automation,” or RPA—carries eye-popping potential. Japan’s Sumitomo Mitsui bank group, a UiPath customer since April 2017, projects that reducing employee busywork and improving accuracy will have saved it nearly $500 million by next year. Giants like Toyota and Walmart have flocked to UiPath for similar magic. Setting up virtual robots is faster and cheaper than assigning engineers to build an internal app, and it spares workers the low-tech alternative: long hours creating Excel macros and filling spreadsheets. A UiPath bot does the task endlessly, without complaint, for up to $15,000 a year. Some companies use thousands at a time.”