For nearly three decades, I’ve had the privilege of working closely with robotics and automation, observing the significant advancements and the evolving public perception of this technology.
Not long ago, the general public paid scant attention to the future’s implications. Despite exponential growth in these areas, conversations surrounding robotics, automation, and AI have thus far remained primarily didactic. Prior to the onset of a global pandemic, matters were…
As sudden as a pivot, our realities have been disrupted, and societal values have undergone a radical transformation. The global workforce underwent a significant pivot, both physically and mentally. The company’s client communications have faced significant difficulties. The supply chain’s vulnerabilities have been revealed. While technological advancements persisted, many innovations only recently began to yield their full potential. We’re in fascinating occasions, certainly.
The landscape of modern society is undergoing a profound transformation, fundamentally altering the manner in which we approach our professional, personal, and recreational lives. As a result, they shape our investment decisions, both as corporate entities and individual investors. What’s driving the growing appetite for automation across various aspects of our daily experiences is multifaceted.
1.THE LABOR SHORTAGE
The lingering aftermath of the COVID-19 pandemic has precipitated a labour crisis with no discernible signs of recovery. Unlike the 2008 recession, we’re now grappling with a dearth of skilled workers rather than an abundance of job openings. In the realms of production and logistics, a stark reality prevails: the dearth of available positions significantly surpasses the national unemployment rate, exacerbating an already pressing issue.
When there’s a lack of suitable candidates to fill critical positions, consider upskilling existing staff or retraining individuals with potential, while also exploring innovative recruitment strategies to attract top talent. Automation of existing processes enables seamless integration with new systems and workflows, ultimately driving efficiency and productivity? Companies of all sizes are investing unprecedentedly heavily in technology to bridge the knowledge gap. In today’s competitive and challenging environment, this option is more of a requirement than a choice to survive.
To foster sustainable economic growth, it is essential that we prioritize education in key areas such as manufacturing, logistics, and related fields, thereby empowering individuals with the skills necessary to drive innovation and competitiveness. In reality, numerous routes to achievement and professional growth aren’t dependent on possessing a high school diploma. STEM roles that are often accessible through commercial colleges or certification programs, significantly reducing the threshold for entry. As we leverage our exceptional administrative acumen, we’re able to liberate our team members from tedious, dirty, and hazardous tasks, allowing them to focus on more stimulating pursuits.
As a professor, I’m witnessing a growing sense of unease among my college students regarding the current state of the job market, which has been exacerbated by recent tech layoffs. With our team’s expertise in place, we must empower employees to seize the opportunities presented by emerging roles and drive innovation forward. While not exclusively targeted at retraining college-educated students, this opportunity also presents an excellent career path for individuals of all ages seeking to acquire a new skillset or transition into a new field. As companies invest in technology, they’re poised to bridge the gap left by an estimated tens of thousands of unfilled job openings.
2. MASSIVE UPTICK IN E-COMMERCE
The COVID-19 pandemic revealed what behemoth corporations are capable of doing when forced to adapt their logistics to online demand. Nowadays, it takes just two hours from clicking “Buy” to receiving a package at our doorstep, thanks to the rapid growth of e-commerce and same-day delivery since the pandemic’s onset, with no signs of abating, posing an intriguing challenge for fulfillment.
Corporations, regardless of size, don’t just want to join the movement – they need to. We expect to see a growing presence of automation achieving results, whether from a remote location or integrated into everyday settings like a grocery store’s main aisle. As localised supply gains momentum, companies continue to accelerate their efforts to stay ahead.
Companies of all sizes will increasingly focus on innovative logistics solutions, including traditional automation, advanced packaging, and mobile platforms that can navigate terrain, as they strive for operational efficiency and market competitiveness.
Thanks to innovative advancements in robotics, automation has become more accessible due to companies now offering flexible and scalable solutions with fewer required programs. These options can also arrive at a cost-effective price point, featuring intuitive user interfaces that facilitate seamless training for existing staff members.
Today, entrepreneurs needn’t worry excessively about making an incorrect decision regarding automation, free from the constraints of outdated, complex, and expensive infrastructure. With this move, they’ll have access to top-notch expertise without being tied to a particular platform or infrastructure.
As logistics automation accelerates, the pressing need for timely implementation and workforce filling drives inexorable investment in technology.
3.
Untapped Mainstream Applications of Generative AI?
Currently, generative AI is primarily utilized in niche industries like art and music. However, its potential applications extend far beyond these creative fields. With advancements in this technology, we can unlock innovative solutions for various sectors, including but not limited to:
Most of the world has recently had a glimpse of generative AI’s breathtaking potential, whether people consciously recognized it or not. As AI-generated portraits dominated Instagram feeds worldwide and the widespread adoption of ChatGPT simplified content creation tasks, it’s little surprise that this year’s Sony “Image of the Year” award went to a piece created with artificial intelligence. The vast potential of generative AI has hardly been touched upon, underscoring the immense possibilities yet to come.
As we’re just beginning to tap into the vast potential of this revolutionary technology, its impact on our daily lives is already palpable. Until recently, much of our attention has been centered on generating content. As generative AI becomes increasingly ubiquitous among the general public, the focus is likely to pivot towards verifying the accuracy of generated data. In an era where traditional storytelling was once the norm, we’ve witnessed a seismic shift with the rise of generative AI – now, one can simply pose a question and let technology craft a narrative.
One major concern currently being expressed is the uncertainty surrounding the authenticity and veracity of the information presented in the fabric. Can we belief it? Don’t we all trust that it will never deceive us?
The verification of data is readily accessible within this space, serving as a crucial component of the overall puzzle. Plagiarism is a significant concern in academic circles, where original ideas and concepts are highly valued. To ensure the authenticity of a scholar’s work, institutions and peers must verify the integrity of research through rigorous peer-review processes and meticulous documentation. Will we implement AI-driven voice-matching algorithms to accurately replicate the distinctive timbres and inflections of various singers, ensuring a seamless blending of their voices in harmonies and collaborations? While there may be several significant challenges that will inevitably arise from implementing this technology, its vast potential remains unparalleled. Will generative AI fundamentally transform our way of life?
INVESTING IN AUTOMATION
As advancements in technology continue to propel us forward, these three key factors are driving the creation of an increasingly automated reality. It’s clear to me that the adoption in question will drive significant advancements across the entire marketplace. To make a fitting wager, one must first determine the stakes, assessing the potential risks and rewards before placing their bet. With the ROBO index (robotics & automation) and the THNQ index (AI), buyers can achieve diversified publicity to each the builders and customers of those unbelievable applied sciences. Despite the rapid pace of change, these technological and societal shifts mark only the beginning of a profound transformation as humanity adapts to evolving needs – and our innovative efforts to meet them effectively.
