June 6, 2017
According to Industry Week and Moody’s Investor Service, there could be a significant upside to robots with the near-term demographic time bomb in Japan and Germany. Certainly, work will need to continue to get done; however, as more and more workers retire, that could become a challenge. Thus, robots might have another advantage in addition to automation – as the percentage of workers over 65 is expected to soar in both Japan and Germany, robots might substitute for labor. Also, both countries are early robot adopters. Time is ripe for robots.
What Should We Consider and/or What Impacts Could Arise?
The key question is whether you are pursuing automation, robots and other strategies to meet your objectives – whether it is to increase efficiency, replace labor (as it becomes harder to find) or to increase accuracy. If you don’t start thinking about how to incorporate this type of strategic thinking into your plans now, the opportunity is likely to pass you by.
Technology changes daily. For example, there is never the “right” time to purchase a computer. By the time you purchase the computer, technology has changed. However, if you wait for that ‘perfect’ time, it could be similar to hanging onto a Blackberry waiting for the perfect upgrade. Instead, think about which technology and automation is important in supporting your business objectives. Don’t just pursue technology for technology’s sake but correlate the appropriate technology with your business objectives to achieve success. Do a bit of research, ask experts, put together plans and ACT while the technology is still ripe.