The age of automation is rapidly approaching, countries like Korea, Singapore, Germany and Japan have embraced the robotic revolution and are reaping the benefits through increased efficiency and lower costs.
Whilst automation in these countries is disproportionately impacted by large industrial electronics, vehicle and semi-conductor companies such benefits are no longer the preserve of the world's largest companies.
Investment by these companies, increased competition and rapid innovation have led to a commoditisation of the core building blocks required to implement intelligent robotic systems.
Such systems can now be installed and operated at less than the cost of minimum wage labour bringing the benefits to all manufacturers.
We believe automation at AI often get misrepresented. At heart robots are about increasing efficiency and lowering costs, not replacing human labour. McKinsey analysis highlights that for 62% of roles today, 30% of tasks can be fully automated whereas only 1% of roles can be fully automated today.
Certainly, for the time being, effective automation is about mapping how intelligent robotic tools can be used to supplement your existing workforce. Boosting efficiency and reducing costs.
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¹ US Bureau of Labour Statistics; 'A Future That Works: Automation, Employment and Productivity, McKinsey Global Institute, January 2017, McKinsey Global Institute Analysis
² UK Food & Drink Federation 2020 Outlook Report