Technological improvements are making robots less expensive. What seemed impossible once is now turning into reality. Artificial intelligence and robotics are fast becoming the need of the hour, especially with companies looking to cut down overhead costs. Some studies predict that almost 40 to 50% of business activities will become automated in the next 25 years. This goes to show how quickly this industry is growing.
In fact, companies are making bomb-defusing robots, fire-fighting unmanned robots, military robots, and several other products to make sure that the military forces get quick help without risking anyone’s lives. A2Z Advanced Solutions LTD is one company that produces such innovative robot-based products. Their CEO, Bentsur Joseph, wants to launch many new products that will ease the lives of people with the help of robotics.
Reduces overhead costs
Imagine the cost to hire an entire accounting team, research and development team, manufacturing team, and sales team. Every entrepreneur would want to cut down on these costs as much as possible. During the time of recession, hundreds of companies let go of many employees because they wanted to maintain their profit margin without increasing the overhead costs. The introduction of robots will reduce these costs significantly.
Of course, you will still need manual labor to supervise the manufacturing and sales team, but robots and AI technology can handle the other departments. For example, the search engine in your laptop will be able to predict what you are about to search, the robot will help in market research and predict the approximate number of products you need to manufacture, and so on. With increased revenues, the country’s economy will also rise. So, it is not just beneficial for your business but also the entire nation.
Mistakes are inevitable wherever there is human labor. The consequence of these errors depends on various factors, but if it is a massive one, it can hamper productivity or even put a dent on your brand’s reputation. You can avoid this if you consider using robots. Once you program them, they will continue to do the same job until you reprogram them to do something else. Whether it is teaching them to record business transactions, prepare books of accounts, or maintain the steady productivity in the manufacturing department, the robots will listen to you without making an error.
Apart from big companies, it is the small businesses that will benefit the most from AI and robotics. These are the companies that always struggle to maintain steady cash flow. In addition to that, the entrepreneurs have to deal with several overhead costs, and they don’t have enough to spend on promotions.
With AI and robotics going hand in hand, they can now think of saving thousands on overheads and spend that money to promote their brand. This will allow new companies to develop faster, which will again contribute to the growing economy of the country. So, the day is not far away when AI and robots will slowly replace human labor, but it will be a step towards economic progress.