Robotic Technology Impact on Business Case Study

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Robotic Technology on Business / Robotic Technology: Impact on Business

According to ShahinFarshchi, in his work the 'Five Myths and Facts About Robotics Technology Today', the increase in the use of robots today has been enabled by seamless connectivity, three dimensional printing, widely available open source code, less expensive sensors and even faster processors. Some concerned parties are even expressing fears that there is increasingly less human to human interaction, and others are warning of job losses with robots being deployed to do tasks that some are saying shouldn't be done by machines (Farshchi, 2014).

Robots taking over jobs, can work for longer without getting tired and don't need to get paid every month. Other commentators are even arguing that for the manufacturing industry to survive, it must adopt the use of robots and the same is also being argued for the logistics industry, even though machines currently being used in these industries are still slow and somewhat difficult to deploy on a wider and deeper scale. However, researcher Farshchi (2014) argues that it is a misconception that robots are meant to take over human jobs owing to the fact that they are quite costly (Farshchi, 2014).

Analysis to understand the Impact of Robotic Technology on Business

It is estimated that the robotics industry is currently worth only 5 billion dollars, and it is predicted to grow exponentially and become a 100 billion dollar industry by the year 2020. The use of robots is already prevalent in many businesses, particularly in the manufacturing industry.

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Products, such as vehicles, smartphones, tablets, laptops, personal computers and many others, are being built by machines. Many businesses with enormous warehouses have already adopted robotics in sorting, assembling and mailing stored goods. It is no doubt that the world is moving faster towards the increased use of robots in businesses, with the introduction of robots doing different human tasks, such as the self-driven cars by technological giant Google or automated agents working for various call centers. The increase in utilization of robots has had both positive and negative criticism (Worx, 2015).

In the modern day world, robots are almost able to take over all types of human tasks. The industries that mostly rely on robotics include: logistics, assembling and manufacturing. The industries have adopted the use of robots to increase productivity and efficiency. The majority of robots currently being used are made either to be a high tech instrument or a helping hand for a human task. Robotics has helped to eliminate repetitive, unsafe or difficult tasks that humans initially had….....

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