It’s not just because of the fact that Artificial Intelligence, Machine Learning, and modern automation are poised to change the world, but also because they are quite transformative in themselves, by continuously bringing in new technologies.
For instance, big data, cloud computing, and data analytics would be handled differently, because of the execution of modern AI tools. Likewise, AI and automation would be sprucing up the robotics industry. These days, robotics is capable of doing much more, as compared to the earlier days when they were simpler and only used for repetitive tasks.
Let’s have a look at the current robotics market and also gain some insights into how much of these technologies would change our lives and many industries.
- As per Adobe’s 2018 Digital Intelligence Briefing, only 15 percent of businesses use AI today, however, 31 percent plan to add support for it over the next few years.
- Loop Ventures research states that the industrial robotics industry is expected to grow by around 175 percent over the next decade. However, the primary focus here shall be on collaborative, assisting platforms rather than the traditional automated machinery.
- The same Loup report states that around 34 percent of the industrial robots sold by 2025 will be collaborative that is designed to work safely, along with the humans in plants and factories.
- Approximately 32 percent of more robots were being purchased in North America over the days, as per the Robotics Industries Association.
- Zew, an international publication states that the number of employees grew in tandem with automation in Europe between 1999 and 2010.
- The collaborative robotics market would be surging to $1 billion in total revenue by 2020, with more than 40,000 cobots entering the industry, says ABI Research.
- DHL expects to improve efficiency and productivity for their product fulfillment process through a partnership with Locus Robotics.
- Deutsche Bank says that Amazon’s cobots have reduced operating its expenses by around 20 percent, and also adding them to the newly opened warehouses that saves as much as $22 million in fulfillment costs each time.
- Foxconn, one of the most prominent electronics and component manufacturers in the world, has converted 60,000 jobs into automated ones.
- The IDC’s Worldwide Healthcare IT 2017 Predictions report states that there would be a 50 percent increase in the use of robotics for medical and healthcare delivery services by 2019.
It’s not a secret that modern robotics has a huge impact that’s outside their standard manufacturing, development and operations circles. Also, off late, the influence of robotics has crossed over to other industries like that of healthcare, customer service, marketing, and retail.
If you have an interesting article / experience / case study to share, please get in touch with us at editors@expresscomputeronline.com