UiPath Named a Leader in the 2023 Gartner Magic Quadrant for Robotic Process Automation

Rhea-AI Summary

UiPath has been positioned by Gartner as a Leader in the 2023 Magic Quadrant for Robotic Process Automation. They were named a Leader for the fifth year in a row and were positioned highest for Ability to Execute. UiPath is dedicated to empowering their global customers and is investing in AI-powered automation.

UiPath Positioned Highest for Ability to Execute

NEW YORK--(BUSINESS WIRE)-- UiPath (NYSE: PATH), a leading enterprise automation software company, today announced it has been positioned by Gartner, Inc. as a Leader in the 2023 Gartner® Magic Quadrant™ for Robotic Process Automation¹ research report. UiPath was named a Leader for the fifth year in a row, and in this report UiPath was positioned highest for Ability to Execute.

“We feel this recognition is a testament to our leadership in delivering a best-in-class AI-powered platform that helps customers exceed critical business objectives with automation,” said UiPath Co-CEO Robert Enslin. “We see massive potential for AI to enable more advanced automations capable of handling even the most complex processes. We continue to invest to combine the power of AI with the operational prowess of automation to build the best platform for professionals to advance their skills and help them do their most important work. UiPath is dedicated to empowering our more than 10,000 global customers to increase productivity, drive exceptional outcomes, and enhance customer experiences.”

The Magic Quadrant evaluated 16 enterprise RPA vendors to help enterprises make the best choice for their organization’s automation needs. A complimentary copy of the 2023 Gartner® Magic Quadrant for Robotic Process Automation research report is available here.

The report states, “By 2025, 90% of RPA vendors will offer generative-AI-assisted automation.”

UiPath is pioneering innovation in AI-powered automation. The UiPath Business Automation Platform is adding more AI offerings with Generative AI, including the general availability of OpenAI and Azure OpenAI connectors with support for GPT-4. UiPath customers are already using the OpenAI connector to extend automation deeper into business operations and turn data into actionable insights. In addition, UiPath has announced support for the Falcon Large Language Model (LLM) via its Amazon SageMaker connector, and the preview of the Google Vertex connector with support for PaLM 2.

The company’s Specialized AI solutions include over 70 models that enable customers to understand screens, mine tasks, process documents, and utilize unique and proprietary data sets within enterprise workflows.

Enslin said, “We believe AI-powered automation will support all knowledge work and accelerate human achievement. To make Generative AI work for businesses everywhere, we are taking an approach that addresses challenges and unlocks opportunities. The UiPath platform deploys Specialized AI and automation to serve as Generative AI’s powerful allies. Crucially for enterprise use, we can train Specialized AI securely with proprietary data and optimize models for a business’ specific needs, resulting in more accurate, efficient, and cost-effective solutions. We take an open and flexible approach so customers can create the most strategic mix of AI and automation solutions, leveraging the strengths of each technology and mitigating their respective challenges.”

According to the report, “Gartner defines robotic process automation (RPA) as the software to automate tasks within business and IT processes via software scripts that emulate human interaction with the application user interface. RPA enables a manual task to be recorded or programmed into a software script, which users can develop by programming, or by using the RPA platform’s low-code and no-code graphical user interfaces. This script can then be deployed and executed into different runtimes. The runtime executable of the deployed script is referred to as a bot, or robot. RPA is used across numerous business functions for tactical task automation. Business and IT users can leverage RPA to:

• Move data in or out of application systems without human interaction (unattended automation). Scripts are designed to replicate the actions of a person interacting with those systems or documents, which usually do not have available APIs. The goal is to automate and complete a task successfully without human intervention. Typically, unattended automation is triggered by a system and bots executed on a server.

• Automate tasks with a human in the loop (attended automation). RPA can extract information from systems and related documents, shaping it and preparing it for consumption by a human at the point of need. Typically, attended automation is triggered by a human and bots executed on a local device.”

According to Gartner, “Leaders have an insightful understanding of the RPA market, a reliable track record, the power to influence the market’s direction, and an ability to attract and retain customers. In the RPA market, Leaders demonstrate understanding of enterprise customers’ needs and of opportunities to expand functionality and add new products and services to their core RPA offerings. Simply put, a Leader must have a market-leading vision and the ability to deliver on that vision.

A Leader may not always be the best choice for every customer. A focused, smaller vendor can sometimes provide superior support and commitment. Other vendors may provide a specialized capability that is essential for some organizations, such as enhanced security or specific features or functions (required, for example, by call centers and individual desktop use cases). A vendor that focuses on RPA for a specific vertical market or a limited geographic area may not be a Leader in the overall market, but it may be a competitive option within its chosen market or area.”

To learn more about the UiPath Business Automation Platform, visit here.

Gartner Disclaimers

Gartner, “Magic Quadrant for Robotic Process Automation”, Saikat Ray, Arthur Villa, Melanie Alexander, Andy Wang, Mukul Saha, Sachin Joshi, 3 August 2023

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

About UiPath
UiPath is on a mission to uplevel knowledge work so more people can work more creatively, collaboratively, and strategically. The AI-powered UiPath Business Automation Platform combines the leading robotic process automation (RPA) solution with a full suite of capabilities to understand, automate, and operate end-to-end processes, offering unprecedented time-to-value. For organizations that need to evolve to survive and thrive through increasingly changing times, UiPath is The Foundation of Innovation™.

¹ Gartner, “Magic Quadrant for Robotic Process Automation”, Saikat Ray, Arthur Villa, Melanie Alexander, Andy Wang, Mukul Saha, Sachin Joshi, 2 August 2023

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Media

Pete Daly

UiPath

pr@uipath.com

Investor Relations

Kelsey Turcotte

UiPath

investor.relations@uipath.com

Source: UiPath

FAQ

What is the latest recognition received by UiPath?

UiPath has been positioned as a Leader in the 2023 Magic Quadrant for Robotic Process Automation by Gartner.

How many times has UiPath been named a Leader in the Magic Quadrant for Robotic Process Automation?

UiPath has been named a Leader for the fifth year in a row.

What is UiPath's focus?

UiPath is focused on delivering a best-in-class AI-powered platform that helps customers exceed critical business objectives with automation.

What is the significance of UiPath being positioned highest for Ability to Execute?

Being positioned highest for Ability to Execute demonstrates UiPath's leadership in delivering effective automation solutions.

What is UiPath's vision for AI-powered automation?

UiPath believes that AI-powered automation will support all knowledge work and accelerate human achievement.

What is the goal of UiPath's platform?

UiPath's platform aims to combine the power of AI with automation to build the best platform for professionals to advance their skills and do their most important work.

What are some of the AI offerings provided by UiPath?

UiPath is adding more AI offerings with Generative AI, including the general availability of OpenAI and Azure OpenAI connectors with support for GPT-4.

How does UiPath empower its customers?

UiPath is dedicated to empowering its more than 10,000 global customers to increase productivity, drive exceptional outcomes, and enhance customer experiences.

What is the focus of UiPath's Specialized AI solutions?

UiPath's Specialized AI solutions include over 70 models that enable customers to understand screens, mine tasks, process documents, and utilize unique and proprietary data sets within enterprise workflows.

What is the definition of robotic process automation (RPA) according to Gartner?

Gartner defines RPA as the software to automate tasks within business and IT processes via software scripts that emulate human interaction with the application user interface.