Industrial robotics market projected to reach more than $70 billion by 2023

The industrial robotics market is forecast to reach beyond $70 billion by 2023, according to a new report. 

The main drivers for the industrial robotics market are increasing investments for automation in various industries and the growing demand from small and medium-scale enterprises in developing countries.  Continue reading Industrial robotics market projected to reach more than $70 billion by 2023

Minimum wage increases lead to more robotics and automation, says new report

Minimum wage increases lead to more investment in robotics and automation systems, according to a new study.

The report, People Versus Machines: The Impact of Minimum Wages on Automatable Jobs, analysed the US Census Bureau’s Current Population Survey data from 1980 to 2015.

The paper was published by the National Bureau of Economic Research, and authored by Grace Lordan and David Neumark.  Continue reading Minimum wage increases lead to more robotics and automation, says new report

Map produced by Brookings pinpoints location of all robots in the US

The Brookings Institution has found that Michigan has the highest number of robots of all the states in the US. 

Brookings found that Detroit, traditionally the motor town of the US, has more than 15,000 industrial robots installed.

That works out to about 8.5 robots per 1,000 workers, says Brookings.  Continue reading Map produced by Brookings pinpoints location of all robots in the US

Farmers Insurance to employ Kespry drones to deal with claims

Farmers Insurance has enlisted a fleet of unmanned aerial aircraft systems to enhance the claims experience for customers who have suffered significant damage to their roof following major weather events.

After field tests to assess the most effective and customer-centric ways of leveraging drone technology with its existing claims operation, Farmers will now expand the use of UAS technology to assist with residential property damage assessments and deliver an even more enhanced experience for its customers.

Keith Daly, chief claims officer for Farmers Insurance, says: “Farmers investments in technology and innovation are driven by our commitment to deliver a better experience for our customers at every point of engagement.

“We believe our new drone program will help improve response time and safety for our claim representatives during their evaluations, and ensure Farmers maintains a leadership position in the insurance industry.”  Continue reading Farmers Insurance to employ Kespry drones to deal with claims

Largest robotics and automation investment fund now has $1 billion in assets under management

ROBO, believed to be the first robotics and automation exchange traded fund, has reached a new milestone in terms of its assets under management.

Index provider ROBO Global, which has holdings in more than 100 listed companies, says investors have embraced its dedicated focus on robotics, automation and artificial intelligence.

The ROBO Global Robotics & Automation Index ETF recently surpassed $1 billion in assets under management, and its managers say it has achieved the psychologically significant benchmark less than four years after launching.  Continue reading Largest robotics and automation investment fund now has $1 billion in assets under management

Rewired launches $100 million robotics-focused venture studio and fund

Investments will focus on applied science and technologies that advance machine perception and unlock the next-generation of smart robotics

Rewired has launched a robotics venture studio and fund. To start with, the company is investing $100 million in applied science and technologies that advance machine perception. 

Rewired says its initial proposition is that improving machine perception will unlock the next generation of smart robotics.

To that end, the company is focusing on the sensors, software, and systems that help autonomous machines to interact with unpredictable environments and collaborate with humans.  Continue reading Rewired launches $100 million robotics-focused venture studio and fund

Interview: Leading robotics and automation fund manager planning to launch new investment vehicle

The news that investments in robotics and automation companies have out-performed all other investments on the stock market will only add to the allure of this sector. 

Fuelled by a renewed fascination and technological advancement in artificial intelligence, investors are enthusiastically looking for funds and companies in which to put their money.

There’s very few investments in life or in history that can offer get-rich-quick returns, but certainly a wise investor could make substantial returns if they are careful with their money.  Continue reading Interview: Leading robotics and automation fund manager planning to launch new investment vehicle

Automotive and industrial companies ‘could unlock billions in revenue’ through new growth strategies

Accenture using a “new way” of measuring corporate competitiveness

Industrial companies, such as automotive manufacturers, could unlock billions of dollars in revenue by adopting a more “holistic strategy”, according to a new report by Accenture.

The business management consultant conducted a survey into competitiveness in industry and found that the best approach is one that places equal emphasis on growth, profitability, sustainability and trust.

This “inter-dependent” strategy “yields massive growth potential”, says Accenture, which bases its conclusions on analysis of 47 automotive and industrial companies’ performances.

Continue reading Automotive and industrial companies ‘could unlock billions in revenue’ through new growth strategies

JPMorgan to employ trading robot because it’s more efficient than humans

One of the world’s largest investment banks, JPMorgan, is preparing to employ a robot to work in its global equities business because it’s shown itself to be more efficient than traditional methods of buying and selling, according to a report on the Financial Times website. 

The artificial intelligence-based algorithm, which is called LOXM, has been tested in the US and Asia over the first quarter of this year, adds the FT.

The newspaper quotes David Fellah, of JPMorgan’s European Equity Quant Research team, as saying the work LOXM will do was previously done by humans, “but now the AI machine is able to do it on a much larger and more efficient scale”.

Market for logistics robots predicted to exceed $75 billion in 10 years

Mobile robotics in material handling and logistics will become a $75 billion market by 2027, according to a new report, which adds that it will be more than double by 2038. 

These staggering headline figures mask turbulent transformative change underneath: some technologies will rise and transform the fortunes of industries, fuelling growth rates far outpacing recent trends, whilst others will face with decay and obsolescence.

“We are at the beginning of the beginning of a transformative change, and the time to plan is now,” says the report by IDTechEx Research.  Continue reading Market for logistics robots predicted to exceed $75 billion in 10 years

AI and robotics stocks outperforming other shares on markets

Artificial intelligence and robotics stocks are performing better than many other investments on the stock market, according to a report on CNBC

The website says robotics and AI stocks are “crushing” the old economy and is up by 30 per cent compared with under 10 per cent for other stocks.

In particular, the Global X Robotics and Artificial Intelligence ETF (BOTZ) and the ROBO Global Robotics and Automation Index (ROBO) have done well.  Continue reading AI and robotics stocks outperforming other shares on markets

Schnucks grocery stores give Tally the robot some work to do checking the shelves

A mobile robot called Tally has got a job at Schnucks grocery stores, where it will wander round the aisles and make mental notes of what products are running low on stock and checking prices. 

Developed by Simbe Robotics, Tally is said to perform the tasks humans might find boring and time-consuming. It can do this while customers are shopping or after the stores close.

Simbe claims Tally is the “world’s first fully autonomous robotic shelf auditing and analytics solution for the retail industry”, and suggests the technology could save some of the $450 billion retailers lose annually through inefficiencies which Tally can help resolve.  Continue reading Schnucks grocery stores give Tally the robot some work to do checking the shelves

China’s auto mobility revolution: Going from ‘ownership’ to ‘usership’

Gao Feng, a business consultancy headquartered in China, has released a new paper about the revolution in auto mobility in China

China’s unique set of urban transportation challenges, very high rate of adoption of mobile internet services, and rapid and aggressive introduction of alternative mobility solutions have combined to make China a global breeding ground for mobility innovation.

The deeply-rooted automotive industry business model is experiencing disruption.

Mobility needs previously satisfied through product “ownership” are increasingly being served through mobility services “usership”, with profound implications not only for traditional players within the value chain, but also for non-traditional players – as they enter and compete to deliver services.  Continue reading China’s auto mobility revolution: Going from ‘ownership’ to ‘usership’

Robotics and automation news is good for ABB, says CEO

Industrial giant ABB is reporting a 3 per cent growth in total orders across its operation, but most of it seems to be coming from robotics. 

Net income was $525 million – for the second quarter ending July 6. Gross profit, however, was down 5 per cent, and was only $1 billion. Total revenues were up 1 per cent at almost $8.5 billion.

ABB CEO Ulrich Spiesshofer says: “In Q2, ABB continued to build its growth momentum as our targeted initiatives are delivering. Order growth was broad-based and across all regions.

“Our industry-leading digital offering, ABB Ability, is taking off and starting to contribute to growth.

“Operational performance in the power grids and industrial automation divisions was solid in the quarter. Electrification products and robotics and motion improved margins sequentially, but were not able to fully compensate commodity price headwinds and overcapacity during the quarter.  Continue reading Robotics and automation news is good for ABB, says CEO

Manufacturing and construction driving growth in Vietnamese automation and control systems market, says report

Despite slowdowns in certain industries, Vietnam’s automation and control systems market is witnessing stable growth, according to a report by Frost & Sullivan.

Robust expansion in the manufacturing and construction sectors plus increased foreign direct investment, growing end-user need to optimize processes and improve efficiency, and development of special economic zones are factors fuelling growth.

Nonetheless, barriers to market entry are high. To succeed in a fiercely competitive ecosystem, automation vendors must embrace new technologies, such as Internet of Things, collaborate with developers of machine-to-machine technologies, and become one-stop integrated solution providers.  Continue reading Manufacturing and construction driving growth in Vietnamese automation and control systems market, says report