A Time to Embrace The Era of Robotics
Automation does more than simply assembling cars today.
Thanks to advancements in artificial intelligence, automated technology has transformed numerous businesses, even the world of investing. Artificial intelligence has permeated into various industries and throughout our society.
In finance, Ai has changed how investors and hedge funds select stocks, other funds and allocate their overall portfolios. Many risk systems at the largest banks are incorporating Ai throughout their processes.
Ai always applies an objective eye to the market and doesn’t allow emotions to override decisions the way people can. Humans are emotional by nature, Ai is not.
Autonomous vehicles are now running on the streets of Singapore safely with pre-programmed settings.
China is putting billions into their automation industry to build the factories of tomorrow. The world is entering a new era, the era of Robotics.
Robotics and automation have proven themselves to be essential components of many industries. Benefiting from numerous advantages, today’s modern robotic systems are being applied to environments ranging from factories to warehouses to offices.
Robots can perform highly dangerous tasks in factories and processing plants. By handling these jobs, they keep human workers away from potential harm and prevent costly accidents and injuries.
At the same time, the high efficiency of industrial robots can generate a much more efficient working operating to bring about higher profit.
China’s factories have turned China into the world’s second-largest economy not just because of its cheap workforce.
In fact, the Chinese government has noticed the potential of robotic automation years ago.
As part of its effort to upgrade its manufacturing sector, the Chinese government started a campaign in 2014 with the overall aim to gradually replace manual labour with robots, within the heavily industrialized provinces of Jiangsu, Zhejiang, and Guangdong among those introducing the new technology on a massive scale.
As the U.S.-China tariff war continues, automation is one of the ways Chinese manufacturers are keeping costs down.
In January, Xiao Yafei, the mayor of Dongguan, said the city had cut its manufacturing workforce by 280,000 over the past five years through the installation of 91,000 robots.
Those industrial robots are capable of various positions such as vehicle assembling, chip production, or simply grouping machine parts.
From complicated assembling to simple packaging concepts, automation can all handle it very well. China has been the top market for industrial robots since 2013—and it's getting bigger. The country is currently on track to take delivery of 45% of all shipments between now and 2021, up from 39% last year, according to the International Federation of Robotics.
Those industrial robots are being applied to China’s own factories and exports as well.
From manufacturing to retail, automation is changing the way people do business. Retail has already benefited substantially from the use of Ai. McDonald's purchased an Ai company to help predict customer orders.
Nike has pursued Ai for over a decade and has already implemented Ai in a number of their organizations, from inventory management to customer traffic expectations.
However, no matter how big or small the retail location, many businesses can benefit from integrating Ai into their daily functions.
From daily task management to gaining customer insights, AI is the foundation of technology in a retail setting.
Utilizing artificial intelligence can free up time for business owners by completing daily tasks, which allows them to dedicate more time to advancing their overall business strategy. In addition, AI can even gather detailed customer patterns and preferences, which make for more informed business decisions in the long run.
When customer and sales data is processed through these algorithms, the AI model discovers actionable information about a business and its customers and inventory.
Luxury fashion e-tailer Farfetch has come up with a solution to change the in-store experience for fashion retailers with its Store of the Future platform, which will “link online and offline channels, using data to enhance the retail experience,” says founder Jose Neves to Business of Fashion. Not only does this create a better relationship between customer and sales associate, but it also allows the business to garner a wide collection of customer insights.
With the help of artificial intelligence, medical technology has been developing unprecedentedly.
In many areas of modern healthcare engineering, artificial intelligence can increase the work efficiency of hospitals and form accurate reports from various data sources.
Some major areas that artificial intelligence has been applied to are:
Managing Medical Data
Analysis of Health Plans
Ai-enabled computer applications will help primary care physicians to better identify patients who require extra attention and provide personalized protocols for each individual.
Many hospitals already have chatbots on their main website. Those Ai-based chatbots are able to guide patients to the correct care by comparing a patient's symptoms and health concerns with a database, which improves work efficiency. Letting hospitals free up the more experienced personnel to focus on more demanding tasks will improve the overall work flow.
Current robotic technology enables these machines to work in close collaboration with their human counterparts, moving around them without the need to be caged or kept in designated areas.
Robotic workers are exceptionally obedient, following the instructions given to them by their programmers. With help of AI-based mechanical arms and 5G technology,
Beijing finished the first remote spinal surgery in human history.
By manipulating the mechanical arms, the surgeon can operate a surgery remotely, taking away the need for the doctor to be physically present in the operating room.
Those mechanical arms can take commands with zero time delay. Low latency internet connections are very important, but with the advent of 5G, this shouldn't be an issue. Qiao Xinjun, President of the First Affiliated Hospital of China Medical University, said that this technology can help people in rural Chinese areas, bringing advanced medical services to them and saving medical resources at the same time. Nearly half of China's population still lives in rural areas.
While it is still hard to imagine what dreams may come in this world, once we have found full-fledged artificial intelligence technology or singularity. What we know is there is still endless potential for Ai's applications in finance, biology, medicine and even furthering the advancement of artificial intelligence. Ai will teach us about how to build Ai one day! Society will never be the same.
What is certain, however, is that the advancement of machine learning and further application of artificial intelligence to our major industries will push human civilization to a new era.