Perhaps UiPath's layoffs have sent RPA into that trough. The second phase is called the "peak of inflated expectations," which is quickly followed by the "trough of disillusionment." These are the misguided conclusions of a hype machine.Īccording to Gartner, Inc., there are five phases in a technology hype cycle. In recent years, certain RPA players and proponents have positioned RPA as, variously, a self-contained solve-all for inefficiencies, a technology requiring zero maintenance, and even a replacement for human workers. UiPath's layoffs aren't just a consequence of this growth-at-all-costs mindset, though. There's no shortage of startups that have followed a similar trajectory of overreaching and underdelivering. In a more troubling and high-profile example, office-sharing giant WeWork - which was once valued at $47 billion - ended up on the verge of bankruptcy after its August IPO filing revealed significant losses, aggressive spending plans and corporate mismanagement, leading to layoffs of almost 20% of its company. On the former point, UiPath is only the most recent instance of an unprofitable unicorn facing setbacks when economic realities set in. The recent UiPath layoffs say less about the future of RPA than they do about the problem of hype - both the hype cycles of overvalued startups and the hype surrounding RPA. These glossed-over challenges could help explain why companies deploy and maintain far fewer bots in practice than they initially purchase.
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