Here Comes the Robot: Imagining the Future of Business

First published: July 9, 2021 @ 6:00 pm

The rise of the robot, the advent of artificial intelligence and the Internet of Things (IoT) are radically changing the way we do business. This is a time when technology will become a competitive advantage and will allow us to create a positive outcome, new kind of organization, a more agile organization.

But how do we bring the best out of these new technologies? What can we learn from the pioneers of the Industrial Revolution? What are the key challenges facing the organizations of tomorrow? How can organizations develop agility and agility-based capabilities to cope with these new challenges?

What Is Robot?

Robot is a device that can perform certain functions without human intervention. The word ‘robot’ is from the Czech word ‘robota’, meaning ‘forced labor’.

The first known use of the word was in Karel Capek’s play, R.U.R. (Rossum’s Universal Robots), written in 1921. Nowadays, the word ‘robot’ in the broader sense refers to any type of automated device.

At first, robots were a threat to humans. Today, they are an opportunity. Robot technology and AI are bringing about a positive outcome and a radical change in the way we work, think and act.

They will enable us to make better decisions faster and will help us to tackle new challenges. Robots have enabled the world’s first space robot, NASA’s Robonaut, to become the first humanoid robot on the International Space Station (ISS).

Another positive outcome of robotics is the world’s first robot ballet dancer to perform at New York City Ballet. They have helped NASA send its Curiosity Rover into space without any human intervention.

And they are enabling doctors at University College London Hospital in London to perform surgery without a human being present. In today’s competitive environment, it is vital that organizations understand what technologies are coming their way and how they can exploit them.

Companies must also know how their organizations can cope with these technologies if they want to stay ahead of their competitors. It is crucial that organizations know how these technologies will impact on their business strategies and plans for growth in order for them to take action.

The Effects of Robots to the Future of Business

Robots are improving productivity. By automating tasks, robots bring positive effects for businesses, such as freeing up human resources to perform other tasks. This results in increased profitability and efficiency.

Robots Will Replace Human Workers

With introducing the industrial revolution, machinery has displaced a large amount of human labor. With the increase in robot technology, the effect of robotics on the economy has also been apparent.

This article examines how robotics will affect business in the future. The idea of a robot working in an office is already present today.

However, this technology is still very much a work in progress. We can expect this technology to develop significantly over the next decade as we develop new innovations.

For example, recent developments have shown that robots can learn specific tasks from scratch. The advancements in artificial intelligence and machine learning will allow robots to learn and interact with humans in a more natural way.

Robots Will Reduce Cost

The effect of robot technology on business will also have a positive effect on the cost of doing business. For example, a recent study by the Boston Consulting Group showed that by 2025, nearly 80% of the jobs in Europe could be automated.

The cost savings in labor will allow businesses to spend more money on other areas such as R&D and marketing. Businesses will be able to grow their profit margins while still being able to maintain a competitive advantage over other companies.

Robots Will Create New Industries

In order for businesses to grow and survive in a world with a high level of automation, they will need to embrace new technologies. For example, software companies have developed software programs that can automate certain tasks for businesses.

Robotics companies have also developed innovative robotic technologies for different industries. In fact, there are now many industries with large amounts of potential for robotics. Another positive effect is the number of new industries created by robotics will increase over time as businesses roll out and embrace new innovations.

The Effect of Robots on the Economy

With the introduction of robotics, it is likely that there will be a substantial reduction in the demand for human labor. This could result in significant increases in unemployment.

This would be a negative impact on the economy. However, this will not happen overnight.

As automation technology improves and is reaching out to more businesses, it will take time for robots to displace human workers. As a result, there will be job losses in the short term but over time they will create these jobs again as new industries manifest and they employ more people in those industries.

The Future of Business with Robots

It is very likely that we will see robots being used in offices by 2025. By 2030, it is very likely that there will be an 80% reduction in jobs that can be performed by humans.

Over time, businesses may even choose to automate some or all of their offices completely. It is very likely that we will see some level of automation spread across all businesses as robotics technology improves and new innovations are rolled out.

The automation technologies that are being developed today are still fairly expensive, but they are expected to become cheaper over time as production costs decline due to technological advancements.

The cost savings from using robots instead of human workers will allow businesses to invest more money in other areas such as R&D and marketing.

Read more articles on robot technology, AI, and robotic process automation on WorkDeputy blog!