In today’s day and age, humans are looking for ways and techniques that can simplify their lives and get their chores done with much of an ease. This is one of the reasons that led human to the field of robotics and Artificial Intelligence. In the past 10 years, the world has witnessed the major evolution in the field of intelligence and robotics both of them are being used in various purposes in business as well as in individual life. In this report, a thorough discussion on the robotics and AI is done. Here, a basic understanding of the difference between AI and robotics is explained. In addition to this, impacts of AI and robotics on businesses and humans are outlined. Also, certain real-world case studies are also explained to develop better understanding. Moreover, pros and cons of the two fields are outlined. At last, the role of AI and robotics in the future is discussed.
It has been seen that laymen in modern world use robotics and AI interchangeably. However, there is a lot of difference between the two fields. Talking about the Artificial Intelligence, it is one of the branches of computer science that is characterised by developing computer-based programs to carry out tasks and operations that would otherwise demand human intelligence (Ashrafian, 2015). The engineers programs AI algorithms for tackling perception, learning, language understanding, problem-solving, and logical reasoning. In fact, AI can be integrated with the robotic technology in order to control robots. AI is a part of machine learning, wherein algorithms are developed to make machines respond to a particular input. The AI-based machines mimic human intelligence (Ghahramani, 2015).
Coming on to robotics, it deals with robots and machines that are programmed to carry out actions semi-autonomously or autonomously. Robotics is all about building, designing, and programming robots and only a small segment of robotics requires artificial intelligence. The main aim of developing a robot is to ease and simplify the work done by people (Russell&Norvig, 2016). In the real world, robots have to deal with unstructured conditions and rich environments that are occupied fully by interacting and moving objects. Hence, for effective working, it is required by the robots to understand environment’s perception. On the other hand, AI is characterised by declarative, high-level, description of the world. In order to get done from a robot, it is required that a robot must be featured with certain reasoning capabilities so as to classify, interpret, and understand the perception of the surrounding objects (Ghahramani, 2015).
Both robotics and Artificial Intelligence have the capacity to revolutionise the modus operandi of modern day’s business organisations.It is still a debating topic that whether or not a business should implement AI or robotics in its operations? This is due to some of the issues associated with these modern technology. However, there are many positive impacts of robotics on humans and business organisation (Ashrafian, 2015).
For instance, let’s take impact of AI and robotics on automobile company, Ford Motors. The robotics technology in the field of automobile manufacturing is not new while AI is the new and emerging concept. In the past few years, Ford Motors is under a constant pressure from the market to lower down its operating, labour, and overhead expenses. AI and robotics can reduce this cost tremendously by automating the assembly process. In addition to this, another positive impact of employing is that automation would help the industry to drop the defect rate significantly (Dirican, 2015). The programming of AI-based machines and robots in the assembly and manufacturing plants can perform the job assigned to them with a greater accuracy and with a much lower cost. It has been noticed that employing humans in the manufacturing process would result in more wastage in comparison to when AI and robots are employed for carrying out the same work. This would help Ford in reducing the operating and overhead cost tremendously and it might also gain competitive advantage over their rivals.
AI and robotics together or individually can provide competitive advantages to the organisations and bring about a new production factor that can improve business profitability.In order to comprehend the opportunities that AI and robotics, majority of organisations are putting their efforts in developing numerous AI-based strategies. According to Mckinsey, employing artificial intelligence and machine learning approaches can have a powerful impact on numerous aspects of automobile industry. For instance, they can improve the equipment and machine uptime by more than 20% and minimise the maintenance cost of machines by more than 10% (Dirican, 2015). There are certain AI algorithms developed to sense detection variations, vibration data, and detect the likely issues with the machines and schedule maintenance for machines and equipment. Another positive impact of using robotics and AI by Ford Motors in its operations is that it can make improve the quality of process and can also bring the cascading impact in terms of reduced costs at all stages of manufacturing process. One important aspect that AI has helped in simplifying for the Ford is understanding and analysing consumer preferences, evaluating their needs, and developing products in order to fulfil their demands. This has significantly helped in improving customer rating and satisfaction. To sum up the aforesaid discussion, it is evident that robotics and AI are two technologies that would drive the engines of all the manufacturing industrial units including automobile industries. Combining AI and robotics in the modern day’s processes can help the organisations in reducing all the inefficiencies and enhancing financial performance. Furthermore, with the help of executive leadership within an organisation, a firm can regulate and monitor processes without any hassle. The impact of AI and robotics on automotive industry is that they will pace up the processes in the automotive sector and improve efficiencies.
Talking about the impacts of AI and robotics on humans, the AI opens the flood gate of opportunities for humans. AI is synonymous to smart automation that can help humans in getting job satisfaction as it can carry mundane tasks of humans. In addition to this, robots and AI-based machines can improve workplace health and safety carry out hazardous and dangerous tasks and increase employees’ morale and satisfaction. In today’s time, human workers are under constant pressure to perform well and efficiently. With such technological cum software solutions, they can make their work better and productive too. According to***, industries are facing the shortage of skilled workforce. With the help of AI, they can fill this gap and improve their productivity and profitability. In other words, organisations should need to outfit their human resources with the technical ability to leverage their productivity.
A point to note here is that some analysts argue that automation would increase the unemployment in the global community as organisation will fire them in case of redundancy. However, some people do not agree with this fact as robotics and AI are technological innovation that needs regular updates. This would increase the demand of technical experts in the market. In addition to this, it is a myth that robotics and AI eliminate the humans from majority of process. However, in the fields, such as customer support, sales, education, and healthcare, humans will be valued no matter what technology get introduced in these fields. This is due to the fact that humans can only be able to build trust with humans, interact with them, and assist them in reaching complex goals.
It has been noticed that organisations are now inclining towards AI and robotics in order to get more business opportunities and increase their profitability. For that purposes, a case study is discussed here. “Ibibo and its customer service issues” and how AI-based solutions helped the company in reaching its goals. Ibibo is an online traveling and hospitality organisation that is headquartered in India and is one of the top 5 most-trusted organisations in the country. In the fast few years, the company’s rating was going down not because of rising competition but due to poor customer services and dull interactions with the customer care executives as they are unable to understand what exactly customers ask. This was causing major decline in the market share of the Ibibo group. For that purpose, certain solutions were worked out as per the requirement of the case and issues highlighted.
The organisation employs AI solutions in order to facilitate multiple customer interactions and resolve their queries and problems related to services. The company is making huge investments in artificial intelligence based algorithm that could be able to process natural language of customers and would help the service executives to understand customers’ intent and serve them with personalise services. In addition to this, AI-based Chatbots has also significantly reduced the number of conversations that needs human aid and intervention. This strategy helped in understanding and analysing consumer preferences, evaluating their needs, and developing products in order to fulfil their demands. This has significantly helped in improving customer rating and satisfaction.
With a plethora of opportunities for business organisation, the future of AI and robotics is very bright and emerging. Not only the manufacturing industries, are research works being carried out in developing potential of AI and robotics in other domains as well. With the continuous research on improving the existing AI and robotics technology, scientists are predicting a great future of these two domains. A few of the key fields where AI and robotics looks promising are discussed below (Tkáč&Verner, 2016):-
In this report, a thorough understanding of artificial intelligence and robotics was developed. It was discussed that role of AI in business operations is a debating issue. It was also determined that organisation should work on improving their existing AI and other technological resources in order to get advantages. The cases of Ford and Ibibo group were discussed and their approaches were studied and it was determined that customer satisfaction and other business problems can be resolved in no time by making use of robotics. The report talked about pros and cons of using AI in business and how these two can make a great mistake. At last, the potential for using AI in the near future was talked about. With the continuous research on improving the existing AI and robotics technology, scientists are predicting a great future of these two domains.
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