Robotic technology has become one of the hottest topics among economic analysts and business owners alike after countless industries have announced plan to adopt and integrate more robotic and artificial intelligence technology systems into their business models and operation plans. It would appear that a second machine age is quickly approaching as an ever increasing variety of technology infiltrates nearly every aspect of consumers’ lives, including their jobs. Facing increased costs of labor, higher consumer demands, and greater competition is leaving many business owners across all industries scrambling for alternative solutions to a changing commerce culture. Business owners primarily adopt robotics into their work culture in hopes of increasing operational efficiency while reducing production costs and risks involved with traditional business practices.
Restaurants are already utilizing table-top digital tablets to empower guests to facilitate their own dining experience by controlling nearly every aspect of their meal, from ordering to check out. While human interaction remains a large component of the hospitality and service industries, dining establishments targeting expedience and consistency are turning to increased technology to ease the mounting costs of operation, such as wages and labor expenses. The University of Oxford released a report last fall estimating that there is a 92% likelihood that fast food preparation and service will be fully automated in the next few decades. Furthermore, an estimated 47% of American workers are susceptible to displacement from the implementation of robotic technology.
This use of robotics and artificial intelligence is widespread across nearly all industries and business sectors, from fast-food to military and medical practices. IBM’s recent success with their Watson platform sparked the company to allocate a 100 million dollar start-up fund for companies looking to launch creative applications of their artificial intelligence platform. The platform is a learning technology, designed to intake, comprehend and analyze input for sources, such as a book or article. The applications of learning technology like the Watson platform are rapidly spreading into call centers and customers service lines to more efficiently assist customers with their concerns and inquiries.
The demand for innovative technology is ever increasing as more business owners are looking to improve their performance capabilities and cost efficiency. At Capital Insurance we understand the vast array of challenges that Southfield technology producers face. That’s why we are proud to offer Michigan Business Insurance solutions catered specifically to the specific needs of the Southfield technology industry. Our specialist will work with you to develop a fully customized Southfield technology insurance program, so that your operation can keep developing solutions for the present and the future. Give us a call today at 888-296-0418 for more information about all of our product offerings.