You can invest in any of these two RPA stocks- UiPath and Automation Anywhere, make your choice now

Robotic process automation is a technology that allows enterprises to automate some or all of their business processes. You can think of them as digital workers, which mimic manual tasks, so they are done with greater speed and efficiency. RPA stocks are the most invested among all other industries. In 2016, the global RPA spending was US$300 million. That number is expected to reach US$7.2 billion by the end of the year in 2022 and skyrocket to US$10.4 billion by 2023. In this article, we will compare two top RPA stocks- UiPath and Automation Anywhere.

UiPath Inc creates an end-to-end platform that provides automation with user emulation at its core. Its platform is built to be used by employees throughout a company and to address a wide variety of use cases, from simple tasks to long-running, complex business processes. It generates revenue from the sale of licenses for its proprietary software, maintenance and support, and professional services. It generates a majority of the revenues from the US, followed by Romania and the rest of the world. Its RPA market stock price is US$18.57.

Automation Anywhere is the developer of AI-based robotic process automation software designed to augment the human workforce by automating repetitive business processes. The company provides a platform for building and executing software bots powered by artificial intelligence and is trained to automate complex business processes involving any application, enabling businesses to reduce operational costs and error rates. The company raised a total amount of US$840M.

UiPath is on a mission to fully automate the enterprise. To that end, its software platform helps clients build AI-powered bots capable of augmenting a human workforce by automating a variety of business processes. Since going public in April 2021, UiPath's share price has plunged as macroeconomic headwinds have sparked a sell-off in richly valued growth stocks, especially those of the unprofitable persuasion. To that end, UiPath stock currently trades 55% below its all-time high.

Automation Anywhere is working with investment banks to assist it with its listing, the people said, asking not to be identified because the matter is private. The company's plans haven't been finalized and the IPO might not take place until 2022, the people added.  SoftBank is one of Automation Anywhere's major investors, with Vision Fund investing US$300 million in 2018. The company was valued at $6.8 billion in 2019, according to data provider PitchBook.