Who Will Benefit the Most From Automation?

Author: Jake Herington

Applications for autonomous and robotic technology are becoming more and more widespread everyday. We already know how automation is changing the way we work, allowing for the safe and reliable production of goods and implementation of services by replacing unnecessary human labor, and saving business’ valuable time and money in the process. Automation is changing not only what we do for work, but how we do it.

This technology is seeing use outside of the work environment too, and has the potential to have a similar impact on the way people live their life as it does how they work. Automating processes in a domestic environment through ‘Internet of Things’ type technology, connecting devices throughout the home, opens a huge amount of possibilities and may end up saving the average household substantially in terms of time and money. Governments around the world are also laying the foundations for autonomous vehicle technology on the road, eliminating the need to own a car and the costs involved in doing so. And not to mention all the headaches of a daily commute.

With automation set to have a significant impact across almost all aspects of everyday life, who stands to gain the most out of it?

Consumers

There are a number of reasons as to how and why automation benefits consumers. The first being that using robotic technology to automate the production of goods drives the cost of production down, resulting in lower prices and increasing appeal and demand for the product itself.

Automation also benefits consumers by removing the human aspect from the production of goods and implementation of services. This means that a good or service is much more reliable and safer to use, as the risk of human error is eliminated.

As the use of autonomous technology becomes more widespread, the focus on manufacturing will shift from who can produce the most to who can produce the best. This benefits consumers by creating a need for manufacturers to cater to the specific requirements of the consumer to maintain a competitive edge.

The Average Household

Automating tasks within the home has huge potential for saving the average household precious time and money during a time where the cost of living is rising. By connecting devices throughout the home (using ‘Internet of Things’ technology), and optimising them to run at during off-peak times, consecutively not simultaneously, or when there is a surplus of a particular resource, will drastically increase the long term efficiency of the average household. This technology may even be able to predict behaviour over time and adjust accordingly.

The idea that most people will not own a car in the future is increasingly becoming reality. Governments all over the world are preparing for autonomous vehicles on the roads, with some reports predicting by 2030 that 95% of commuting done by a person will be in autonomous vehicle services. By eliminating fuel, maintenance and registration costs (amongst other things) involved with car ownership, households can expect to save around $5600 per year. That’s equivalent to a 10% wage increase for the average household!

Early Adopters

Companies who are early to implement autonomous technology into their business models will have a huge advantage within their respective industry going forward. Being able to automate certain aspects of a business provides customers with the cheapest, safest and most reliable service or product possible, and that’s a promise every customer wants to hear. Autonomous technology is simply the way of the future, and its economic benefits for individuals and business’ cannot be ignored.

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