Today, with a focus on driving improved business opportunities, B2B market leaders are upgrading their strategic plans involving automation and cobots.
Widespread cultural acceptance and immense technological advances are leading to increased adoption of robots in workplaces globally. In fact, big brands like Amazon, Walmart, Alibaba, etc. have successfully implemented robotic automation years ago for their business primacy. A research piece by the International Federation of Robotics predicts the usage of bots will be doubled in 2020 – over 3 million robots to be used by different industries.
The bots for B2B enterprise markets are becoming affordable and easily accessible – the surge in automation and AI implementations in business operations are resulting in overall optimization and cost savings. Robotics has already transformed the shape of heavy industries, and now they are being used for seamless processing of enterprise operations. As per Forrester, the investment plans for RPA is going to exceed $2.9 billion in 2021.
Enterprise bots are the new normal! According to a study by Tractica three years ago, “Robotics for Enterprise Markets” revealed that global revenue would increase up to $67.9 billion in 2022, from $5.9 billion in 2016. Also, the shipments of enterprise bots will grow to 1.2 million units in 2022. Back in 2016, it was just 83,000 units in 2016 – which shows the CAGR during the given period is 57%. Precisely, sectors like warehousing, e-commerce, logistics, customer service, etc. are highly investing in robots to increase efficiencies, profits, and cut costs by replacing humans. More organizations are trusting bots to simplify the existing challenges and reduce the productivity gap because of the ‘mundane’ human workforces.
Another study by Association for Information Systems titled “Emotional Attachment, Performance, and Viability in Teams Collaborating with Embodied Physical Action (EPA) Robots” shows that workplace bots are ‘intelligent’ enough to boost team viability and better performance. Many B2B decision-makers are realizing that cobots (collaborative robots) are the ‘friendly’ addition to the workplace automation. Sangseok You, an assistant professor at HEC Paris, has been quoted as saying in a CXOtoday blog post, “We found that humans perform better with robotic teammates when they have a strong emotional attachment to them… This means that organizations like Amazon should invest in approaches that encourage their employees to have some level of emotional attachment with their robotic co-workers.”
Enterprise robots and cobots are not really taking away humans’ jobs, but a “mechanical muscle” to work alongside. They are here to work with humans to simplify work mythologies and provide timely advice. Moving forward, it is expected that the robot workforce will bring significant advances in business functionalities and new transformations.