Market trends and business perspectives
China has more industrial robots than next four countries put together, according to a new report.
Data presented by Buy Shares indicates that China, Japan, and the United States cumulatively control about 58.71 percent of the global industrial robot installations.
As of September 2020, there were 381,000 units of industrial robots globally. [Read more…] about China has more industrial robots than next four countries combined
Total investment in agricultural robot startups has increased significantly as farmers look to offset labor shortages partly caused by the coronavirus pandemic, according to a report on the Financial Times website.
Citing data collated by DealRoom.co, the news website says investment in vertical and indoor farming startups has grown by more than 40 percent this year compared with last year.
Indoor farming is basically the process of growing inside large buildings, some of which are like greenhouses and use natural light coming through transparent roofs, while others use artificial lights if their roofs are opaque. [Read more…] about Investment in agricultural automation increases as farmers look to offset labor shortages
BP recently sold its petrochemicals business for $5 billion to Ineos, a move which suggests that “big oil” companies are trying to become “big electric” suppliers.
The Wall Street Journal says the sale was the “largest deal by an oil major since the coronavirus outbreak gripped the global economy”.
WSJ says the transaction would enable BP to different itself from its rivals, many of which are forecasting significant growth for the segment and don’t look like they want to sell or leave the petrochemicals sector. [Read more…] about BP’s sale of its petrochemicals business suggests big oil is trying to become big electric
Robots are shaking up different aspects of the modern business world. Deloitte’s 3rd Annual Robotics Survey suggested that the implementation of robotic process automation (RPA) in organisations is in the rise.
Robotic Process Automation? What Is It?
Simply known simply as RPA, it is the use of robotics systems on computers or robots to support the processing of data, and thereby, making such data processing more effective.
RPA also comes with programs that prevent the need for human hands or humans to perform rule-based tasks that are mostly repetitive. Thus, RPA also leads to very time-efficient processes. [Read more…] about The Robots Are Here to Stay: How Automation is Affecting Global Business
Google, the world’s biggest internet company, is to allow 200,000 of its employees to work from home until this time next year, according to a report on the Wall Street Journal website.
Although Google officially has just over 100,000 full-time employees, the company’s decision will affect its freelance workers, part-timers and contract staff.
The directive comes amid the chaos caused by the coronavirus pandemic, with the US seeing an upsurge in cases in recent weeks, after becoming the nation with the world’s highest number of deaths caused by the Covid-19 virus. [Read more…] about Google to allow 200,000 of its employees to work from home until next summer
Reshoring industrial operations from China to the US has not been as straightforward as it may have sounded at first, and companies looking to do so “face significant problems”, according to a report by the South China Morning Post.
American companies, encouraged by the administration of President Donald Trump to relocate to the US, have found that there are numerous problems with reshoring.
One of the main issues relates to recruitment. The industrial sector – whether you’re talking about manufacturing, logistics, or other segments – has long had to contend with deep, structural problems in attracting workers. [Read more…] about Reshoring from China to US not a short-term solution
Member states of the European Union have agreed a €750 billion recovery fund in the wake of the coronavirus pandemic, which has all but destroyed large parts of the economy in many countries.
The agreement was reached during a four-day summit meeting in Brussels, Belgium between the leaders of the 27 member nations.
Charles Michel, chairman of the summit, called the accord “a pivotal moment for Europe”, according to a report by Reuters. [Read more…] about EU member states agree €750 billion post-pandemic recovery fund
The US government has awarded $3.4 million to support Manufacturing USA’s solutions to the coronavirus pandemic.
The Department of Commerce’s National Institute of Standards and Technology (NIST) awarded $3.4 million in grants to support “high-impact projects” for Covid-19 pandemic response.
The funding is authorized through the Coronavirus Aid, Relief, and Economic Security (CARES) Act signed by President Donald Trump in March 2020. [Read more…] about NIST awards $3.4 million to support Manufacturing USA’s coronavirus projects
A new type of robot has been sent to Rwanda by the United Nations in an effort to help detect coronavirus infections.
The hardware for the robot was built by Chinese company UBTech Robotics, and the software was developed by Belgian company ZoraBots.
ZoraBots says the new kind of robot help healthcare professionals, governments and international organizations to limit the spread of the coronavirus. [Read more…] about UN sends five robots to Rwanda to detect coronavirus
The coronavirus pandemic is causing grocers to invest more in robotics, according to a study published by the Retail Analytics Council ahead of the Retail Robotics and AI Conference.
The RAC retail robotics research report, Emerging Trends in Retail Robotics, says the Covid-19 outbreak gives grocers an additional reason to use robots in retail – “to assist with customer and employee safety”.
However, the industry was already expanding its use of robots, notes the RAC in its report. [Read more…] about Coronavirus pandemic causing grocers to invest in robotics, says report
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