State of Art Equity Research | Oct 21, 2021 10:20PM ET
The world has gone through a digital transformation, improving life, work quality, efficiency, and productivity in the last decades. But, employees still have to perform repetitive tasks that are time-consuming and costly for companies. UiPath's (NYSE:PATH) mission is to address this problem by automating business tasks and operations.
The innovation relies on three technologies, robotics, artificial intelligence, and low-code development. The interface is user-friendly, allowing companies to identify tasks that can be automated and implement the process efficiently.
The technology uses bots that replace human intervention. Those intelligent bots can read the human language, think, learn, and make complex decisions. Last year, the company captured 8% points of market share, adding more customers than all nine competitors combined.
Recently, Forrester Research named UiPath the Robotic Process Automation industry leader with a more substantial offering and growth potential than any of its competitors.
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