As we move forward to 2021, what can we expect from automation in the coming years? Robotics technology and artificial intelligence will have a major impact on digitalizing the tasks.
Are robots the future of workplaces? Studies show that automated machines will soon replace around half of the workforce in the world. The increasing acceptance for automation emerges from its capability to eliminate redundant or repetitive tasks and improve reliability in all industries. It can contribute to economic growth by improving the productivity and efficiency of the workflows. The tremendous progress happening in the field of artificial intelligence and automation can take the world forward to unimaginable progress.
What is automation?
Automation is the use of technology to perform processes with minimum human intervention. The use of electronic systems reduces the use of manpower and makes it easy to introduce accountability and control over the system.
Businesses use automation for controlling various operating equipment and processes in factories, manufacturing units, and other operation networks to reduce human intervention and improve the efficiency of operations.
Growth of automation
Where does the automation market today? Where is it headed to? According to a study by the World Economic Forum machines are expected to create 58 million jobs. A recent study by Tech Jury also confirms the same trend and predicts that automation will replace 30% of jobs in the future.
The strides that automation is making are stupendous. From autonomous vehicles to automated check-outs in shops, automation is creating inroads in all aspects of life. Machine-learning algorithms, sensors, and machines are becoming more sophisticated and displaying exponential growth.
Today, we can find the automation and artificial intelligence being applied across diverse sectors and in a variety of processes for purposes such as product recommendations, identifying fraudulent transactions, or detect issues in manufacturing processes.
Benefits of automation
Automation brings a plethora of benefits to human lives and the important ones are discussed below.
- Lowers operational costs – Automation reduces the labor requirements and hence saves cost. It also streamlines the processes and reduces the load on operations, thereby saving energy and reducing operational expenses.
- Faster ROI – Automation solutions are developed to meet the specific needs of the business. The software is customized based on business goals and usually requires only reduced lead times and lower operating costs. This will bring higher ROI for the business.
- Improves competitiveness – Automation allows companies to reduce the cycle time and improve their work quality. Companies can leverage cost advantages, increase competitiveness, and compete globally.
- Eco-friendly – Digitalization reduces redundant processes and also eliminates waste. This brings eco-friendly benefits such as decreased paper usage and carbon footprint.
Future of automation
Advancements in Robotics Technology and Artificial Intelligence is helping us produce robots that can perform all functions without any human intervention. Most organizations are expected to embrace the revolutionary possibilities in automation and enjoy the advantages of lowered costs and improved efficiencies.
Industrial Internet of Things is an exciting development that uses actuators and smart sensors for enhancing business processes. It leverages real-time data and smart machines to use the data produced by machines and also communicate the important information to the top management. The technology also brings the potential to introduce supply chain traceability, sustainable green practices, and high levels of quality control.
Automation is an ideal solution to eliminate redundant processes in organizations and improve operational efficiencies. One of the biggest criticisms raised against automation is that it could lead to loss of jobs. However, this fear is unfounded since humans are always irreplaceable because of their soft skills, critical thinking, and judgment capabilities. Besides automation also creates technology-intensive jobs on a larger scale. Moving forward, we can expect to see automation shaping business and all aspects of human lives.