Robotics for Financial Growth

Published: 11th January, 2021

This was the main question for us in YourBigPic panel conversation held lately with Hywel Griffiths Finance Lead @YourBigPic.

In the main, we find that the mention of robotics is viewed as an industry that does not include the majority of us. As an industry that claims to be valued at around £13bn, I feel we could not be further from the truth.

What is the robotics industry about? Is it that inventions come along to replace an activity that is already in place by making it easier or saving time, for example? Or more importantly, is it a way of replacing the need for human interaction?

Both of these questions were addressed in the discussion. To answer these questions, I would like to look at the following sectors ..

When I think about Robotics it’s about anything that replaces anything else that is more now more automated. This is not a new thing it’s being going on for years! It just might feel like it’s a modern feature

BANKING & FINANCE

We are all included in this sector. Most of us use credit cards, even contactless these days; and banks are still looking at the idea of not using cheques. If we run businesses, then book keeping activities usually use software like Quickbooks or Xero.

AGRICULTURE

The examples are numerous, however one industry with very little change in centuries has produced a new piece of jewellery which has raised the bar to a different level through robotic invention.

ENTREPRENEURSHIP

As the son of a farmer, I know that robotics started to come into play in farming decades ago. Milking cows was very different when I was a boy to when my father started his work journey. The machinery used today for harvesting is a far cry from the machinery of the past. And drones are completely changing some aspects of rural development.

INDUSTRY & TRADE

This is another huge market which includes robots as a service, cloud robotics and data analytics roboticisation. We can even produce products now using 3D printers.

TOURISM

One of the most exciting examples of robotics in this sector is the Henn-na Hotel in Nagasaki who now have robots at the front desk, as customer information and for storage purposes using voice, facial recognition and AI technology.

ENVIRONMENTAL

The big development here is the electric driverless cars which are being developed right now. There are also a growing number of digital tools emerging, such as in the waste industry, where software and mechatronic innovations to bring down the operating costs and reduce negative impacts of waste on the environment has been deployed.

TAKE AWAYS

So, how is all of this helping new businesses get involved and help them grow?

Our discussion showed us that there are opportunities in all sectors.

The world is crying out for innovation and automation and AI is the area that will continue to grow as we move forward.

Finally, what is the impact on people and their place in the workforce? This and other finance issues are what we address in the Finance offer at YourBigPic.

WATCH IT!

The ‘webinar’ word doesn’t really describe what it is we do with our time in sessions. We love a conversation where everyone has the chance to contribute.

Participants are provided with the means to make connections thus drawing attention to the conversation that is going on around.

It’s how we roll!

WHAT NEXT ?

Please do ask us to help you achieve this same impact in your organisation. We can deliver this activity for you and at the same time upskill your team to take over the delivery. You can weave this into your Strategy-related activities which means you’re paying once for resources and deploying them many times across your organisation.

Find out more about our approach for Engaging Finance. You can have a go yourself by printing and writing on the resource within the brochure you can download. The stuff we care about is all over our YouTube channel @YourBigPic. I would love to take you through a taster of BIG PICTURE® in a Webinar you can sign-up for here.

Thanks for reading!