Automated technology is something which has been in the news more and more over recent years and is something which is becoming part of our everyday lives, often without us realising. It refers to any technology which requires minimal human input, for example self-driving cars, automatic doors and factory robots.
Fifty years ago, this kind of technology was something that would have been considered almost space age, however the modern world is moving at an increasingly fast pace and some of the things that would have seemed impossible even twenty years ago are now commonplace.
Benefits of Automation
Whilst there will always be scepticism when it comes to machines taking over human roles, there are a huge amount of benefits when it comes to the use of automated technology. For example, when a robot takes over a production line, it will generally mean the output is cheaper and better quality, with almost no opportunity for human error. In addition, the process can be completed much faster, meaning there are higher production rates and an increased level of efficiency throughout.
One of the most beneficial elements of automated technology is the improved safety that comes alongside it. Less humans involved in the process means it’s less likely for anyone to be injured.
Countries Leading The Way in Automation
According to the International Federation of Robotics (IFR), the world’s top 10 most countries with the most automated technology are Singapore, South Korea, Japan, Germany, Sweden, Denmark, Hong Kong, Chinese Taipei, USA, Belgium and Luxembourg. This is measured by ‘robot density’, or the number of operational robots in relation to the number of workers.
Singapore has 918 robots per 100,000 workers, in comparison to 91 in the UK, and a lot of their automation is centred around the workplace. There has been a huge push in recent years within the digitalisation space, especially within the healthcare and construction industries. With an advanced ecosystem and regulatory structure designed perfectly to work alongside these robotic automations, Singapore is well-placed to continue as world leaders in this space.
Whilst it may seem as though we’re quite behind the rest of the world with our automation, the UK is by no means new to it. Often when we think about robots and automation, we think of some of the more advanced technology such as self-driving cars, however some examples are things that we use every day, such as sensor electric gates and revolving doors. Although we may take some of these types of technology for granted, as consumer need continues to grow, so too will our reliance on automated technology. Especially for the future of the fintech industry, so there is no doubt this is an industry that will continue booming over the next few years.
Automation sits at the heart of what we do at Datam. With our automated merchant onboarding software, we remove human error, speed up the application process and create a more efficient process and streamlined experience for the end customer. We are constantly looking at our solution on how we can remove the need for manual intervention to make sure the customer gets the best experience.
If you’d like to find out more about how Datam can help your business, please do not hesitate to get in touch.