Out of over 4,000 firms surveyed in 2021, the report shows that the 10% making the biggest revenues invested heavily in Robots.
The advancement in robotics technology has been enormous in the last five years. However, there hasn’t been much research on the effects of robotics on businesses and companies’ growth.
While critics of robot use claim that it’s killing off jobs and human resources, statistics show that robots may actually be the missing link for struggling businesses.
Read on to see why you may invest in robots to expand your brand.
The background
Today, companies and businesses face rising labor costs and a shortage of staff caused by the pandemic, making them invest in automation and robots.
Robots don’t demand raises, and they can function around the clock. They could perform works that most humans couldn’t do, like working in difficult conditions.
The changing tide
Recently, top brands are defying the traditional expectation that AI and machines would render people obsolete. These firms are now using the robots-human collaboration to adjust and transform their businesses.
Many firms aren’t just out-innovating their competitors; they’re also more decisively toward human-based AI technology while maximizing the value of robotics.
Top companies like McDonald’s, Etsy, Ocado, Google, and L.L.Bean are redefining how automation and AI can unite various cutting-edge information technologies to ease agile adaptability and human-machine integration.
These firms have heavily invested in digital technology to respond to any operational issues from the robot’s use.
In addition, they’ve increased investment in AI and cloud services and are now garnering revenue at a quick rate.
The International Federation of Robotics study maintains that though automation and robots displace people in jobs and manufacturing, they always increase output.
For instance, Drew Greenblatt, the president of Marlin Steel, has praised the way robots have assisted his firm in growing 25% and improved operational safety.
He told Inc.com that “the most modern technology in the plant was a fax machine, and the top workers could produce a basket by hand every 12 seconds. Today, robots can make five baskets per second, with a precision that is light years beyond what we were capable of before.”
These are why you should use Robots to grow your Business.
It’s no news that Robots can do several things that humans can’t do. They can:
- Recognize patterns in varied amounts of data
- Operate complex production processes
- Simultaneously answer several calls
- Detect frauds
- Predict customer preferences
- And personalize ads
Nowadays, AI is enabling robots and humans to function together efficiently. Contrary to robot critics, collaboration opens up new, top job opportunities.
Robots and automation are expanding new skills and creating great productivity plus retention rates.
In particular, one of the Momentum Machine multi-tasker bots can design a gourmet hamburger in 10 seconds.
A production device from Universal Robots can paint, solder, glue, screw, grasp, and create new parts on the fly.
In another vein, robots are easy to maintain. Compared with humans, they’re faster to train, more affordable to maintain, simpler to repair and refuel, and won’t be tired or bored by continuous and repetitive tasks.
In the healthcare sector, robots can be vital. They were particularly instrumental during the covid-19 pandemic. For example, Moxi, a hospital robot, has been helping to combat nurse burnouts at Mary Washington Hospital in Fredericksburg, Virginia.
Moxi, like others, offers assistance to the nurses as it ferries supplies, medication, lab samples, and individual items via the halls from one floor to another.
Another robot, Aethon TUG, works only two shifts seven days weekly and still saves the labor of 2.8 full-time equivalents (FTE) staff. And it costs less than a single FTE.
According to the manufacturing company, “Aethon TUG safely navigates through hospital corridors, elevators, and departments to get items from point A to point B. It rolls 24 hours, seven days a week to make scheduled and on-demand deliveries, and never gets sidetracked from its mission.”
Benefits of Robots for your Business:
- Robots can help to reduce overhead, capital, and direct costs.
- Robots remove problems of human errors, tiredness, and the effects of tedious and repetitive tasks, making you have improved quality products.
- It helps to reduce waste and have an increased production output or yield.
- Robots help to do health-threatening and hazardous tasks.
Future of Robots
Robots are here to stay forever! By 2025, it’ll be integrated into almost every aspect of people’s life. All life fundamentals would be automated, from grocery shopping and farming to driving.
With robotics and automation, transportation, writing, customer service, and logistics will witness dramatic changes.
Artificial intelligence would be created into the algorithmic architecture of several business functions. AIs and robots functions will take over more moving and manufacturing tasks in the near future.
Lillie Coney, a legislative director in technology policy in the US House of Representatives, gave his opinion on the future of robots.
He said, “It is not the large things that will make AI acceptable. It will be the small things—portable devices that can aid a person or organization in accomplishing desired outcomes well. AI embedded into everyday technology that proves to save time, energy, and stress that will push consumer demand for it.”
Final Analysis
Nowadays, robotic automation is increasingly attractive for companies seeking ways to improve and balance enhanced competitiveness.
Bar the criticism, and robots can do some tasks cheaper, better, and quicker than humans.
Replacing workers with robots is an inevitable option for companies, especially with the advancement of AIs.
It’s now time to invest in expanding your business and making more profits!
Photo by David Levêque on Unsplash