Digital Factory Investment will Reach $673 Billion
The manufacturing sector will undergo a transformation as new technologies enable innovative factory automation solutions. The ‘Digital Factory’ market will grow at a compound annual growth rate of 33 percent to reach $673 billion in 2026, according to ABI Research.
Wireless IoT Applications within Industrial Automation
While wired networking solutions are still predominantly used for industrial communications between sensors, controllers and systems, wireless solutions have gained a strong foothold in a number of applications.
Global Industrial Robotics Revenue will Reach $22 Billion
The industrial and collaborative robotics market is gaining momentum, as more vendors and industries embrace automation. Development in cloud robotics, deep learning based machine operation, and a wider ecosystem will enable robots to become more reliable, versatile and efficient.
How Agile Automation Fuels Digital Transformation
A new suite of technologies — including robotic process automation, smart workflows, artificial intelligence, machine learning, natural language, and cognitive agents — radically improve efficiency while eliminating errors and reducing operational risk.
via McKinsey
Economic Growth in the Age of Digital Automation
Digitization has allowed for productivity and export growth in services that previously was not possible. This is the case with modern services such as finance, communication, software, legal, advertising, and business. Digital platforms and e-commerce have the potential to raise productivity, employment, and wages in the services sector.
via ADB
Eight Myths About Disruption from Artificial Intelligence
AI is going to be a seismic shift in business – and it’s expected to create a $15.7 trillion economic impact globally by 2030. But understandably, monumental shifts like this tend to make people nervous, resulting in many unanswered questions and misconceptions about the technology and what it will do in the workplace.
How Automation will Transform the Legal Sector
“The AI that we are seeing on the market now and for the foreseeable future – which I am not naïve enough to put as any longer than 3-5 years – will enable us to deliver better legal services, quicker, more efficiently and sometimes cheaper.”
Why Artificial Intelligence and Automation are Complex
“It is not just technological feasibility that influences automation. There is a much longer list of parameters, including costs and regulation, that need to be considered. In addition to these parameters, there are further variables influencing the future of automation.”
Source: World Economic Forum
Future of Work and Robotic Automation in a Global Economy
The stock of robots in the U.S. and Western Europe increased fourfold between 1993 and 2007. And one more robot per thousand workers is estimated to reduce the employment to population ratio by about 0.18-0.34 percentage points, and wages by 0.25-0.5 percent.
Source: World Economic Forum
How Cognitive Systems will Empower the Firm of the Future
What will be a key core competency for successful companies in the Future? Transactional activity will be almost entirely automated — algorithms and machine learning will simultaneously reduce the need for routine interactions while opening up new avenues for customer engagement.
Source: Bain & Company
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