From Revolution to Reinvention: Three Industries Transformed by Robotics and Artificial Intelligence
From Revolution to Reinvention: Three Industries Transformed by Robotics and Artificial Intelligence
Jun 26, 2023INTRODUCTION
Artificial intelligence (AI) has emerged as a transformative force in the field of robotics, driving innovation and pushing the boundaries of what robots can achieve. Recent disruptive events such as the global COVID-19 pandemic and geopolitical conflicts have highlighted the vulnerabilities of different industries. In response, companies are seeking innovative solutions to enhance their efficiency. Labor shortages, for example, have compelled organizations to automate their logistics and distribution systems, leading to the increased adoption of artificial intelligence and robotics. By combining AI capabilities with robotics, multiple industries are experiencing a revolution.
The global robotics market is projected to reach $74 billion by 2026, with a compound annual growth rate (CAGR) of 17.45% during 2021-2026.1
In this article, we will explore how AI and robotics are revolutionizing various sectors and opening up new possibilities. Here’s a look into some of these industries.
1. SUPPLY CHAIN & LOGISTICS TRANSFORMATION THROUGH AI AND ROBOTICS
Autonomous robots are set to become increasingly prevalent in the supply chains of the future, enabling workers to transition to more strategic, less hazardous, and higher-value roles. Advancements in robotic capabilities, such as haptic sensors that mimic the sense of touch, allow robots to handle delicate objects and complex assembly parts without the need for extensive programming or modifications.2 This evolution in robotic technology promises to redefine supply chain operations across various sectors.
Recent Developments in Warehouse Robotics3
- In December 2022, ABB introduced the ABB SWIFTITM CRB 1300 collaborative robot, aimed at automating various tasks in warehouses, including palletizing, pick-and-place operations, and more. This launch allows ABB customers to utilize robotic automation in order to enhance the flexibility, efficiency, and resilience of their processes. By enabling employees to focus on core business activities, this technology helps address labor shortages.
- In March 2022, Fanuc expanded its range of collaborative robots for warehouse applications with the introduction of the CRX-5iA, CRX-20iA/L, and CRX-25iA models. These robots are designed to automate warehouse operations and enhance efficiency.
- In September 2022, Honeywell released the Smart Flexible Depalletizer, a new robotic technology aimed at increasing productivity in warehouses by reducing the need for human labor.
- In August 2022, Yaskawa launched the MOTOMAN-HC30PL, a collaborative robot equipped with machine vision. Specifically designed for palletizing applications, it has a payload capacity of 30 kg.
- Also, in August 2022, Omron Automation unveiled its future plans for India, aiming to enhance the prospects of people, businesses, and the world through innovative automation. As part of this expansion, the company intends to collaborate with manufacturers and provide automation solutions to the manufacturing industry.
These advancements in warehouse robotics contribute to the projected growth of the global market, which is predicted to reach $15.67 billion by 2030, with a CAGR of 11.8% during the forecast period, 2023-2030.3
2. FOOD MANUFACTURING & PROCESSING
The application of AI and robotics in food manufacturing and processing is gaining momentum, offering significant benefits such as gentle handling of food, packaging, and delivery. Collaborative robotic systems are playing a vital role in the food and beverage industry, working alongside employees to increase efficiency and comply with health and safety standards. Sectors such as dairy and bakery are minimizing human contact through the use of robots, creating a safer and more streamlined production process.
The global food AI market is projected to reach $4 billion by 2026, with the Asia Pacific region witnessing the highest growth.4 The palletizing segment currently holds the largest market share, but it is projected that the processing sector will experience the highest growth rate during the forecast period of 2022-2031. The Asia-Pacific and Europe regions are the key contributors to the food robotics market, jointly representing approximately 55% of the market share in 2020.5
3. MANUFACTURING
It is beyond doubt that the manufacturing industry is leading the way in the application and adoption of AI technology. In manufacturing, AI is being employed across several lines and layers of operations, from workforce planning to product design, thus improving efficiency, product quality, and employee safety.
Robots also play a crucial role in the manufacturing process. Most industrial robots remain stationary most of the time, yet they still run the risk of colliding with nearby things. The use of AI in robotics has led to the idea of collaborative robots, sometimes known as “cobots” which can follow orders from people and collaborate effectively with them. Companies like Tesla, Toyota, and Hanson Robotics are leveraging robotics to perform a wide range of tasks with speed, reliability, and accuracy.
The global industrial robotics market is expected to grow at a CAGR of 10.5% from 2023 to 2030, with the Asia Pacific region leading the industry due to its large number of industries and factories utilizing industrial robots.6
KEY GROWTH DRIVERS OF INDUSTRIAL ROBOTICS
- The adoption of Industry 4.0 and the integration of robotics into smart manufacturing are driving the growth of industrial robotics. Manufacturers are expanding their facilities and investing in robotic automation to meet increasing demand. For example, in December 2022, ABB Ltd. inaugurated a new state-of-the-art robotics factory in Shanghai, China, as part of their production and research efforts. The company made a significant investment of approximately $ 150 million for the establishment of this expansive 67,000-square-meter facility.7
- The rising trend of electric vehicles is also fueling the industrial robotics industry, as car manufacturers utilize automated systems for high-volume production. For instance, in December 2022, Kuka AG completed the delivery of its industrial arm robots to Tesla Inc. to help the company mass produce its electric vehicles.
- The implementation of 5G technology is anticipated to foster the adoption of robotics within the manufacturing industry. The low latency provided by the 5G network enables instantaneous communication between systems, promoting effective coordination and connectivity.
The limitless potential of robotics to drive innovation and reshape industries is set to unfold as artificial intelligence and robotics progress. With the projected growth and advancements in this field, we can expect continued advancements and a significant impact on various sectors in the coming years.
INDICES RELATED TO THIS CONCEPT
- Indxx Artificial Intelligence & Big Data Index
- Indxx Global Robotics & Artificial Intelligence Thematic Index
- Indxx Global Robotics & Artificial Intelligence Thematic v2 Index
- Indxx Supply Chain Innovation Index
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References
1.Global Newswire 2.Deloitte 3.Yahoo Finance 4.Markets and Markets 5.Allied Research 6.Grand View Research 7. ABB Website