Integrating an end-of-term tool in a robotic arm leads to having a more versatile robot that can execute several jobs on the production floor. The sort of EOAT integrated into the robot determines its applications. Industrial robotic end-effectors are critical components of every industrial robotic operation, and selecting the appropriate end-effector can make the difference between high productivity and relatively inefficient operations.

Things To Consider When Selecting The Most Appropriate Robot End-Effector

Usually, the approach of selecting the most appropriate robot end-effector entails conducting a thorough examination of the project or application required of the robotic arm. In most cases, companies employ the services of robotic system integrators to do the job because of their professional expertise and vast knowledge of various robotic applications.

Selecting the most appropriate end-effector is critical for achieving dependable and productive robotic performance. For an industrial robot to accomplish its jobs, the EOAT must handle the parts as swiftly and effectively as designed to do.

The incorrect EOAT can result in considerable downtime, which can negatively influence overall production. Robots that use the incorrect end-effector may break down or become too slow to keep up with current manufacturing lines, resulting in increased inefficiencies and high-cost repairs and maintenance and lower ROI for the company. 

Factors To Consider When Choosing A Robot End Effector

By putting the right EOAT, the robot can work as intended, resulting in increased production, more satisfied customers, higher sales, happy staff, and a quicker return on investment (ROI). Below are the factors to look for when choosing a robot end-effector.  

• The environment of robot end-effector operation

Before choosing your preferred EOAT, you should understand the operating environment. Deployment of most robotic-reliant part-handling systems is in two different types of industrial-manufacturing environments-assembly lines and warehouses, made up of body shops and press shops.

• Payloads/weight

It is extremely important to consider the payloads of the items that need moving when choosing a robot end-effector. When working in a setting where a robot must travel long distances, the weight of the end-effector is also crucial. For the EOAT to work effectively, it must be durable, feasible, and light enough to manage all the applications. It must withstand multiple cycles without breaking down to ensure that there are no slips, vibrations, or performance degradation. Material handling applications, for example, will assess the size and weight of an item when determining whether mechanical grippers or vacuum clamps are the most appropriate choice.

• Tooling length

The tooling length of the EOAT required to complete the necessary task will also influence the choice of your robot end-effector most appropriate for the job at hand. A robotic arm is most effective when it can cover the greatest distance. The goal here is to keep the right amount of offset load of the EOAT as low as possible. Keeping the robot end-effector tooling length as short as possible is preferable to reduce deflection, leading to improved automated rhythm and a more effective flow.

• Size and shape of the products

The size and shape of the items you require your EOAT to handle and transfer is a big element in your chosen approach. The shape, size, and fragility of components have varied constraints regarding the robotic tooling used to fabricate them.

• Cycle time

Another important factor to consider when choosing a robot end effector is its cycle time. A robot end-effector cycle time expressed in strokes per minute relates to the number of pieces stamped per minute in the Press Room. Industrial body shops use robot end effectors to complete parts by performing the movements or operations that the system can perform. A conventional transfer press, for example, operates at a rate of 15 to 22 strokes per minute. Increasing the efficiency of the system design can aid in the improvement of the strokes per minute rate.

• Ancillary components

You will also need to consider if the robot end-effector you choose needs any ancillary parts. The parts provide the EOAT with more versatility. Some of the most common axillary components are:

• Power clamps
• Grippers
• Magnets
• Vacuum cups
• Venturis

EOATs can perform a wide range of tasks in the automation industry. Still, to select the most appropriate device for your purposes, you must consider the products the robotic arm needs to handle, the speed at which it must transfer the goods from one place to the next, and even the amount of space available. It is also vital to consider the components the EOAT will handle- are they fragile, irregular shapes, or too large for the tool?

• Cost

Do not forget to consider your budget constraints when choosing your preferred robot end-effector. The cost of the EOAT will depend on several variables such as size, payload, and brand. Before you commit yourself, do some research on several options in the market and go for the one you can afford. However, you have to ensure that it is efficient.

Wrapping Up

A robot end-effector is a critical component of any industrial robot, especially modern collaborative robots. Robotics might not achieve their primary purpose of automating manual tasks to boost profitability without the required end-effectors. Therefore, it is critical to choose the most appropriate robot end-effector for a positive impact on the overall effectiveness of a robotic system. 

An effective robot end-effector will also ensure better operations at the company. If you do not know about the best EOAT to integrate with your industrial robot, collaborate with a robotic systems integrator that has extensive experience in your industry. The same integrator should also have vast knowledge and competence to select the most appropriate EOAT for your robotic applications.

A former call center agent herself, Morales has benefited from her new job that is better paid and higher skilled than what she used to do. But will these chatbots end up replacing the livelihoods of millions of agents around the world? This is an episode of Next Jobs, a mini-documentary series hosted by Bloomberg Technology's Aki Ito.

Using Google and O*NET data from the past 10 years for typical finance roles, Reed Finance developed the interactive online tool on stateofskills.reedglobal.com. It found that written and verbal communication is prized by employers of finance professionals, with ‘oral comprehension’ (an understanding of what people are trying to say) and ‘written comprehension’ (understanding written ideas and information) ranked as the most valued skills. This is in comparison to traditionally assumed skills such as ‘economics and accounting’ and ‘deductive reasoning’ which are ranked as the fourth and 10^th most important.

Reed Finance suggests that this is due to the future strategies of companies wishing to see finance executives take on leadership roles which entail not only technical soundness, but also an ability to inspire and work as a leader of teams – with ‘active listening’ and ‘oral comprehension’ some of the most important skills for a CFO to have.

Firms value ‘human skills’ such as communication over technical accounting skillset.

As such, ‘human’ skills are prominent in successful candidates for roles such as management accounting and FP&A management. This may suggest that these workers have the skillset to take upon more senior roles.

Securing the right talent

Reed Finance found that the level of interest from candidates for the majority of roles in accountancy and finance had been consistent over the past decade, but there are some notable exceptions.

Interest in CFOs peaked in April 2013, higher by 111% in comparison to January 2012. The trend is even starker for finance business partners. From only modest interest in October 2009 popularity has continued to increase rapidly over the decade hitting a peak in July 2018 that is almost 2500% higher. The stark rise reflects a change in the industry towards finance professionals with strong communication skills informing and guiding the business.

Interest in finance business partners has increased from near non-existence in October 2009 by 2333% to a peak in July 2018.

Rob Russell, director at Reed Finance, says: “Businesses are in direct competition for employees that can bring ‘human’ skills to the table, not just technical accounting and number crunching. The influx of AI in the workplace is helping to enhance the numerical skillsets within these teams, so there will be greater time for high-level creativity. Companies want candidates that can communicate, secure business wins and manage teams so that they perform to the best of their ability. These changes to a more fluid, creative workplace are creating great opportunities for those within the finance sector.”

Software use is essential to success but becomes less important with greater seniority

The research conducted also investigated the tools that must be mastered for success in these roles, encouraging businesses to upgrade their software where necessary.

Rob Russell continues: “Every day working with businesses we find that tech is there to enhance the performance of individuals. While candidates should endeavour to keep up with the latest accounting tools on the market, businesses are increasingly looking for those that can win new business and demonstrate a return on investment.

“For candidates, developing the ability to take complex finance information they deal with on a daily basis and using it to answer the question, ‘what does this mean for the business?’ will set them aside from colleagues. This, coupled with commercial nous, has always been an advantage, but now it seems it is even more sought after as business leaders search for the candidates that can secure the future of their business.”

(Source: www.reedglobal.com/finance)

Technology is transforming almost every area imaginable, but education and recruitment are surprisingly yet to be disrupted, and consider themselves to be relatively early in the adoption of technologies. These technological developments, combined with data analytics and job-specific simulations are at the forefront of driving this disruption, particularly in the financial sector. Below Finance Monthly hears from William de Lucy, CEO of Amplify, who delves into the drive behind technology development in the recruitment departments of finance teams worldwide.

Businesses are now delivering targeted training for companies throughout the fintech ecosystem, providing them with new, innovative ways to enhance the learning environment for prospects, resulting in a higher calibre pool of talent for the client.

It would appear that despite a certain level of volatility existing in the financial sector, leading financial institutions are still chomping at the bit to secure the best candidates, demonstrating the overall buoyancy of the market. Much like certain aspects of the financial ecosystem that is witnessing a transformational shift away from manual, human-oriented tasks, the level of automation and simulation in financial recruitment can reap huge rewards for leading institutions.

Evolution of technology and data allowing real world simulation

Technology and data expectations have never been higher, due to the major advancements in technology that have driven this change. Not only has technology significantly increased the amount of data being generated, but it has also provided affordable and efficient ways to collect and store this data so that organisations can leverage data-driven strategies to innovate, compete, and obtain value from information. With technology upending workflow and processes, tasks that were once handled with paper money, bulky computers and human interaction are now being completed entirely on digital interfaces.

Data analytics have come a long way in recent years. From e-commerce businesses tracking who visits their websites and what pages they visit, technology has moved to the collection of huge amounts of data about consumers and their behaviours. This has led to a huge paradigm shift from focus on products, to focus on consumers and what they want and value. Financial services institutions that use big data to drive their decisions will win the competitive race in the long run.

Education with the implementation of technology

Technology has previously been seen as a disruptive influence in the classroom, however this perception is slowly changing. With apps that change how we shop, eat and communicate, technology is moving at a fast pace, and society is having to adapt alongside it. Education with the help of technology has opened up a world of opportunities for students. From collaboration through the use of emails to easy sharing of information - technology is and will continue to alter the education sector into the future.

Students are now looking at the value they receive for their investment. They want to know how this experience will help to secure a place in their chosen careers, rather than the academic ambitions that their professor may have harboured when they were a student. Technologies can give students the same on-the-job training experiences delivered to clients, which enables them to directly connect with such institutions when they perform.

The simulations of real-life work roles give students a broad experience across the entire industry, from any area including investment bank market-making and sales-trading to portfolio and risk management. The objectives are for students to learn through ‘doing’, allowing them to enhance their academic skills and to better prepare them for their future workplace and their best suited role.

Technology and recruitment within the finance and education sectors

A recent LinkedIn study of 12 global investment banks has found that analysts and associates who left their positions in 2015 had stayed in their roles for an average of 17 months. This compares to a 26 month average in 2005. Furthermore, the study also revealed that some banks are incurring significant costs that are associated with replacing employees who leave.

Bridging the gap between what students are taught in theory, to what happens on a day-to-day basis in an office environment, proved difficult before the implementation of certain technologies. Technology has enabled the disruption of traditional recruitment paths of many major financial institutions which often recruit from only a select few universities and use rigid, automated processes. Along with this, companies are now able to broaden their search and identify talent that may not have been uncovered previously. A candidate could have a distinct ability to perform a specific function outside of their pure academic achievements, which allows for a more diverse workforce and greater overall performance and output.

Technology these days, can give businesses the ability to measure so many different data points over a long period of time. For example, technology platforms can measure how well a potential sales trader, or broker uses voice versus typed communication and how well they can use that communication to leverage client relationships. With this actively taking place over a full-day, or a series of days, it can help to provide corporate partners with graduates who possess soft skills that are required in client facing roles. This can often be hard to find from an initial CV review or telephone interview.

Along with this, technology allows businesses to gather innovative approaches to enhance and revolutionise graduate recruitment, this helps firms find the right candidate for the right role, without having to sift through thousands of CV’s or rely on behavioural data that has been collected from a short game or questions unassociated with the role in question. Due to the innovative approach that technology has enabled, candidates can gain a practical understanding of what their day-to-day role would actually involve, which helps them identify in depth the specific role they can see themselves committing to long-term.

It’s evident that technology is and will continue to revolve and bridge the gap between what students are taught in theory, to what happens in a day-to-day office environment. It has broadened the playing field and identified talents that may never have been uncovered previously. This can lead to businesses becoming more diverse in their workforce and have a greater overall performance and output for their company.

Artificial intelligence (AI) is infiltrating all industries, meaning a transformation in the way we live our day-to-day lives – and the way we work – is inevitable. But this is nothing to be afraid of and we should embrace AI to improve the way we work.

According to Adobe, 15 % of companies currently use AI, with 31 % expected to adopt it over the next 12 months. This significant technological disruption is set to affect everyone in some form, and many are worried that AI will displace our jobs and make humans irrelevant.

However, Reed Accountancy & Finance research found that almost half (47 %) of finance professionals asked are enthusiastic about AI in the workplace and are willing to embrace new technology. This shows there is a lot of enthusiasm about all the ways AI can improve our everyday activities. With this in mind, here are five reasons why we shouldn’t be panicking about the introduction of AI into the workplace.

1. There is strength in humanity

Research from Deloitte shows that 61 % of companies are now actively designing jobs around robotics. However, it is expected that, in the coming years, the skills and traits that make us human and enable us to interact effectively will become increasingly important for employment and career advancement.  While machines and AI will be capable of performing many routine tasks, human cognitive skills will still be sought after, so businesses will still need to target candidates with these talents. The introduction of AI will also free up time for creative thinking and judgement work – areas in which humans are naturally superior. AI can design solutions to complex societal issues, but only humans can implement them, as well as display empathy and compassion in a way machines never can.

2. Enhanced productivity

A study by Accenture has revealed that AI could increase productivity by 40 %, and profitability by 38 %. This is in addition to our own research which found a third (32 %) of finance professionals believe AI will improve productivity and efficiency by having the capabilities to report and summarise accounts  taking away the menial tasks – understandably, businesses are interested. This means employees are free to concentrate their efforts on more stimulating, forward thinking work, making companies using AI very attractive. It can also help with recruitment, where AI can source, rank and arrange interviews with candidates. More accurate forecasting, predicting maintenance and repairs, personalisation, optimising manufacturing and replenishing stock automatically are all areas in which AI can also help companies become more efficient working within their budgets.

3. Attracting Generation Z

By 2030, it’s estimated that Generation Z will represent 75 % of the workforce, meaning innovative methods of appealing to this group must be a priority for all organisations. One way to do this is by promoting the use of AI in the workplace, as this generation appreciates the value that technology brings.  The use of AI-driven foundational technologies, such as blockchain, may also help companies that are based on this technology present themselves as the more fashionable, innovative places to work.

4. Saying farewell to unconscious bias

Unconscious bias has long been an issue in recruitment, and for those responsible for recruitment in an organisation. Some tech start-ups are already using AI to perform initial interviews, along with facial recognition software to detect body language and emotion cues when screening candidates, in order to eliminate the unconscious bias that is so often found in the human decision-making process. In fact, according to KPMG, 60 % of HR departments are planning to adopt cognitive automation in the next five years with the aim of making recruitment a bias-free procedure.

5. New skills, new jobs

McKinsey research has found that, if AI is adopted by 2030, eight to nine % of labour demand will be in new types of jobs that didn’t exist before. History would suggest that, after a large technological disruption in society, over time, labour markets would adjust in the favour of workers. However, the skills and capabilities required for any job will shift, with the need for more social and emotional skills, such as logical reasoning and creativity, making candidates with these skills in heavy demand.

Navigating the unchartered territory of artificial intelligence can be daunting, but there is no need for businesses or candidates to panic. If used in the right way, AI can be incredibly helpful and vastly improve the effectiveness and efficiency of not just many organisations, but our everyday working lives.

The automation of work, including the use of robotics and artificial intelligence (AI), is expected to rapidly increase. In fact, recent research by think tank ‘Centre for Cities’ found that one in five jobs in Britain will fall victim to automation by 2030. These findings are further echoed by auditing firm ‘PricewaterhouseCoopers (PWC)’, who estimate more than 10 million UK workers will be at high risk of being displaced by robots within the next 15 years.

As the prevalence of automation becomes more common in our day-to-day routines (supermarket self-service tills, air travel self-check in etc.), it’s threat towards human jobs only becomes more apparent.

Interested in this phenomenon, Reboot Digital Marketing analysed findings from Mindshare, who surveyed more than 6,000 individuals from across the UK to see whether they would prefer robots or humans in eight different occupations/scenarios.

Reboot Digital Marketing found that when making car comparisons with the intention to eventually purchase, a significant percentage of Brits would want robots (60%) aiding them instead of humans (40%). Thereafter, Brits would be most inclined to accept music/film recommendations from robots at 49% - though 51% would still opt to do so from other people (family, friends etc.).

Fascinatingly, even though most Brits (75%) would still prefer humans to be MP’s, 25% would elect robots to be in this position of power.

Moreover, despite the negative perceptions associated with bankers as a direct result from the fallout of the 2008 financial crisis, Brits would still select humans (71%) over robots (29%) to be in their respective role.

On the other end of the scale, 11% of Brits would be least willing to take medical advice from robots. Similarly, only 14% of Brits would not feel apprehensive about receiving legal advice from robots. Information for immediate release RebootOnline.com

Shai Aharony, Managing Director of Reboot Digital Marketing commented: “Automation is undoubtedly on the rise. As the technologies which underpin its development become more sophisticated and efficient, certain industries will certainly face the real prospect of robotics and artificial intelligence disrupting their traditional flow of human labour. Whilst the assumption tends to be that it will either be people or robots, I believe they will complement each other in different tasks and facilitate new types of jobs. What this research certainly demonstrates is that Brits currently favour humans as opposed to robots in a handful of occupations/situations. Although, as automation becomes more prominent and Brits understanding of it drastically improves, this may potentially change.”

(Source: Reboot Digital Marketing)

New research by BAE Systems has found that 74% of business customers think banks use machine learning and artificial intelligence to spot money laundering. In reality banks rely on human investigators to manually sift through alerts – a hard-to-believe fact selected only by 31% of respondents. This lack of automation and modern processes is having a major impact on efficiency and expense when it comes to the fight against money laundering.

Brian Ferro, Global Compliance Solutions Product Manager at BAE Systems Applied Intelligence, said: “Compliance investigators at banks can spend up to three days of their working week dealing with alerts – which most of the time are false positives.  By occupying key personnel with these manual tasks, banks are limiting the investigators’ role, impacting on their ability to stop criminal activity.”

Money laundering is known to fund and enable slavery, drug trafficking, terrorism, corruption and organised crime.  Three quarters (75%) of business customers surveyed see banks as central actors in the fight against money laundering. The penalty for failing to stop money laundering can be high for banks – and is not restricted to significant fines. When questioned, 26% of survey respondents said they would move their business’ banking away from a bank that had been found guilty and fined for serious and sustained money laundering that it had not identified.

Ferro continued: “For banks to be on the front foot against money laundering, their investigators need to be supported by machine intelligence. Simplifying, optimising and automating the sorting of these alerts to give human investigators more time is the single most valuable thing banks and the compliance industry can do in the fight against money launderers. Right now, small improvements in efficiency of the systems banks use to find laundering can yield huge results.

“At BAE Systems we use a combination of intelligence-led advanced analytics to track criminals through the world’s financial networks. By putting machine learning and artificial intelligence systems to work to narrow down the number of alerts, human investigators can concentrate on tasks more suited to their talents and insight.”

(Source: BAE Systems)

Robo-advisers are a great example of how automation is spreading like wildfire. But how safe and reliable are robo-advisers? Below Simon Bottle, COO of non-advised white label, FinchTech, talks to Finance Monthly about when and when not to trust a robo-adviser, giving some great context for investors.

The rise of robo-advisers should come as no surprise – the FSA created an environment for them to flourish post Retail Distribution Review (RDR) – but is robo-advice the right route to take? While these platforms are not brand new (with the introduction of bank robo and niche robo we’re in fact already in the ‘Robo 2.0’ phase) there are still concerns regarding their reliability and robustness. Investors need to assess the pros and cons carefully.

Reasons not to trust a robo-adviser

A potentially major issue with robo-advisers is their lack of uniformity. There is no standardised design or programming rulebook, which means that three different platforms might categorise the same investor with varying suitability levels: one platform’s cautious could be another’s adventurous. This could cause serious problems. If someone risk-averse is incorrectly categorised as an aggressive investor, they could lose a lot more than they can afford.

It all boils down to algorithmic definitions of risk. The FCA is paying attention, but regulation is still evolving.

Also, technology is impressive, but it is by no means fool-proof – take Long Term Capital Management (LTCM) as an example. Just two decades ago, this high-profile fund, built by economics Nobel prize winning founders and reliant on systematic and algorithmic analysis, failed amid much hype.

Financial algorithms have become more sophisticated over time but many are yet to demonstrate how well they can weather extreme and unexpected market events.

When you can trust a robo-adviser

The RDR left a gap in the financial advice market that robo-advice platforms could potentially fill. Consumers with smaller amounts, unable to afford IFA fees, now have a way to access advice and if the company that owns the robo defaults, the FSCS covers the first £50,000.

The most important question a retail investor needs to ask however, is not whether they can trust the robo, but whether they can trust themselves. If users are tempted by higher rates of return associated with a more adventurous portfolio selection, then they may be shocked when the market dips and their investment plummets with it. It’s imperative users don’t engineer responses. Their lack of experience means that often they don’t understand that the greater the risk, the more volatile the portfolio.

A ‘non-advised’ digital portfolio service that is managed by battle hardened humans, rather than a machine, presents potential investors with an alternative approach which goes some way to mitigate derailment by black swan events – however, risks are still involved. How far an investor chooses to stick their neck out is their prerogative.

Or, wait…

Robo-advisers are advancing rapidly. A June 2017 report by FAMR states, “…there are approximately 100 ‘robo-models’ either already launched or in development across a broad spectrum of services”. As this new wave of robo-advisers gains ground, we’ll see niche platforms enter the market, that may be better suited to a retail investor’s demographic, beliefs and interests, or investment amount.

High street banks want their share of the pie too – ahead of plans to launch its very own robo-advice platform, NatWest unveiled a service earlier this year that allows its customers to access investment funds online through the bank. HSBC followed suit and now offers online investment advice for its customers with small savings pots.

However, the question remains, how do you get consumers to trust algorithms with their life savings? Even bigger ‘trusted’ players like UBS are struggling to find investors who are price sensitive enough to entrust investments to a cheaper robo (Juerg Zeltner, the head of UBS’s wealth management division exclaiming recently: “This is a big learning ... the real question is how do you scale it to more?”).

The answer to this trust question has been marketing – advertise heavily and spend millions on promotion. This is fine for well-funded start-ups like Moneyfarm (who recently posted an operational loss of £6.4milliom, £2million of which went on marketing) as long as the capital investment tap isn’t turned off, but as more players, both big and small, enter the market, investment could flow away from established robo-advisers, towards new entrants instead.

Either way, increased competition will push margins down and likely make it cheaper for investors. Potentially a watershed moment worth waiting for if you’re looking for the best possible wealth management deal.

With the worldwide number of robots in smart factories now topping a million, Ross Thomson cites a lack of awareness as the reason most operators haven’t tackled the threat.

“Many firms believe hackers only want personal or financial data, but there is a credible risk to industrial robots,” says Mr Thomson, Principal Consultant at Amethyst Risk Management, which advises government and industry on cyber security.

He points out the risk is growing as robots, like other devices, are increasingly connected to wider networks and the internet. That gives hackers more ways in, and the consequences are potentially disastrous.

In one example, attackers locked up a robotic assembly plant in Mexico and demanded a ransom from the operators. Mr Thomson also highlights the safety risk for human factory operatives if a robot were to be hacked.

Lack of awareness and preparedness for a cyber-attack extends to robot makers. Mr Thomson points to an experiment where researchers hacked a robotic arm and forced it to mis-perform, compelling its manufacturer to plug the security hole.

Nightmare scenarios

The threat might come from disgruntled employees, criminals, recreational hackers or nation states.

One kind of attack would inject faults or defects in the production process, or lock it down completely as in the Mexican incident, leading to loss of production and revenue. If defective products make it to market, they can cause reputational damage, a potential advantage that could motivate an attack by unscrupulous competitors.

By manipulating safety protocols, hackers could cause the robot to injure human operators, or to damage itself or the factory environment. Alternatively, attackers might attempt to steal sensitive data from the machines themselves or the wider company network through remote access.

How easy is it to hack a robot? Ease of access to the software varies, making an inside job more likely in some scenarios. Firmware may be freely available online or retrievable from used robot CPUs, and some manufacturers allow programmers to access code in a simulation environment, creating a potential practice ground for would-be robot hackers.

Hackers have other ways to infiltrate, other than via the internet. They may attack from within the factory, for example connecting to the robot directly through a USB port, or physically accessing its computer controller directly or via remote service.

Once they have penetrated the system, they can potentially alter the controller’s parameters, tamper with calibration programmes or production logic and alter the robot’s perceived state, for example to show it is idle when it is not, or its actual state causing loss of control.

How big a risk?

The scale of the threat could be enormous. It’s estimated there will be 1.3 million robots in factories worldwide by next year (2018) and that 12 per cent of jobs will have been taken over by automated systems within a decade anda half. Robots are operating across almost all industrial sectors from car manufacturing to aviation and food processing.

The UK’s National Cyber Security Centre has highlighted hacking of robotic, unmanned and autonomous systems as a subject for attention, both by itself and by the intelligence organisation GCHQ.

A survey of robotic engineers by Italian academics found three quarters had never properly checked cybersecurity in their infrastructure, a third of robots were internet accessible and half of respondents didn’t see a realistic cyber security threat. To make matters worse, industrial robots often have weak authentication protocols and outdated software running on vulnerable operating systems

Operators need to take the necessary precautions

Mr Thomson urges operators of industrial robots to conduct a professional review of cybersecurity risks, have an incident response plan in place in case of a security breach and ensure that software is regularly updated, especially with security patches. The security review should look at what data robots hold and how they are potentially connected to sensitive data elsewhere on the network.

“Considering the risk to production, people and facilities, it must be taken seriously from board level to operational level,” he says. “An internet-connected robot should be treated with the same security precautions as any computer on the network, including setting long, complex passwords rather than relying on manufacturers’ default. There is a temptation to neglect updates because they may cause production downtime, but it needs to be given a higher priority.”

He advises operators to make security a key factor when sourcing new industrial robots, selecting a manufacturer that shows commitment to the issue and provides frequent software updates with security patches.

“Limiting who has access to robots and segmenting machines from networks where possible can also reduce risk,” he advises.

Ultimately, one of the most effective precautions is also one of the most prosaic, and may comfort those who fear their jobs will be stolen by robots, as Mr Thomson explains: “It’s hard to imagine a time when we dare leave robots to get on with it, so until and unless that day comes, we need humans to keep watch on robots at work.”

(Source: Amethyst Risk)

Just eight of the publicly listed companies cite the technology in recent annual reports.

Despite robotics and automation being at the forefront of many business conversations over the last 12 months, research announced by Redwood Software suggests that companies are not yet willing to reveal their plans.

Of the listed organisations, eight of them mention robotics in their most recent annual report, with just two including detailed references to both robotics and artificial intelligence (AI). Only insurance company Aviva, and support services company, Capita, outline automation to be a focus for them, despite many others also implementing the technologies across their business.

As large organisations look to streamline complex processes and develop a technology-driven enterprise model to keep up with more agile start-ups, robotics have the ability to assist them, improving both productivity and efficiency of operations. Neil Kinson, chief of staff at Redwood Software commented: “We know there are a lot of high-level organisations and brands across a variety of industries that are doing some sort of work with robotics and automation, so it’s surprising to not see this reflected in their annual reports. However, with business competition continuing to rise, everyone is working to gain the strategic upper hand and not give too much away.”

“Every business is undergoing some form of digital transformation, and many are using robotics as a means of achieving success when doing so. The problem, however, is that as the business case for automation continues to grow, the desire for organisations to establish themselves as innovators in robotics will only become more prominent. As companies seek to increase value by strategically streamlining core operations, we’re bound to see competing services and a variety of offers. ”

Both robotics and automation have been at their technological tipping point for the last few years, and are estimated to have contributed to around 10 per cent of GDP per capita growth in OECD countries between 1993 and 2016.

(Source: Redwood Software)

Flashback 20 (or so) years to 1996. Kodak, seen at the time as one of the world’s leading technology innovators, was worth $38billion and employed 140,000 people. That’s an average worth of $270,000 per employee.

Skip forward to recent times. YouTube sold for $1.65 billion and employed 65 employees - placing each employee’s value at $25m. Instagram then sold to Facebook for $1b with just 13 employees (each worth a cool $77 million). WhatsApp then blew both out of the water - selling for $19 billion and in the process, if you apply the same formula, making its 55 employees worth a staggering a $345m a head.

Technology has allowed the emergence of a term coined exponential organisations - these are exponentially fast-growing companies that leverage technology. They require less employees but more tech savvy ones. More and more companies are trying to replicate this model - that is: hire less but more tech savvy people - and as this happens, job roles are slowly being replaced by skillsets. Employers require their staff to have an ever-growing number of skills.

A McKinsey report from late 2015 stated that 45 per cent of the activities individuals are currently paid to perform could be automated by adapting currently demonstrated technologies. It’s not just checkout operators or baggage handlers who are being replaced, either. They discovered that even the highest-paid occupations in the economy, such as financial managers, physicians, senior executives, including CEOs, have a significant amount of activity that can be automated.

A World Economic Forum summary about the future of jobs found that by 2020 - just three years from now - a third of desired skill sets of most occupations are not considered crucial to the same jobs today. A direct side-effect of this rapid change in such a short amount of time is a major digital skills shortage crisis, which the UK’s Science and Technology Committee published a report warning of mid last year.

All of this paints a rather grim picture for the amount of jobs available in the future and the number of people with the required skillsets available to do these jobs. But, the good news, according to London’s first monthly growth marketing course provider, Growth Tribe, is that you can future-proof your career and your own skill-set.

Master the fundamentals and you can master the rest. Below are five things you can do right now to get ready for the future - which is already kind of here!

Self-learn

Learning doesn’t stop after you leave university. Some, like billionaire entrepreneur Peter Thiel, are even arguing that it shouldn’t start there in the first place. The Shadbolt Review of Computer Sciences Degree Accreditation and Graduate Employability from last year also found a clear disconnect between what employers need and what universities teach.

But you needn’t panic. It’s never been as easy to take education into your own hands. On and offline courses are readily available and affordable. You can take learning how to work better with technology into your own hands.

Learn the coding basics. Learn about behavioural psychology and automation tools. Play with data and think about how your company could use technology to improve user experience. Stay curious, seek out relevant training and use the resource in your back pocket to upskill on the go.

Start a company

Perhaps one of the greatest ways to learn about business is by starting your own. Investing in and starting your own business forces you to solve problems, grow, learn and adapt - if you want to succeed, that is.

You’ll be future-proofing yourself without even realising as you work to create your own website, social media strategy, app, marketing and sales channels and plans, etc.

You also don’t need a million pounds to start. Noah Everett, Twitpic and Pingly founder said: “Don’t worry about funding if you don’t need it. Today it’s cheaper to start a business than ever.” In the UK, online accounting firm FreeAgent found that the majority of UK freelancers and micro-business owners were self-funding their start-up costs rather than relying on external funding. Almost half (44 per cent) of respondents didn’t require any funding to get their business venture started, while 43 per cent had only used personal savings to do so.

Solve problems

There are little day-to-day issues all around us, every day, that could be made easier with the use of technology. Think about contactless payment, for example. We mightn’t have thought it could get much easier than punching a few numbers in at the till, but hey presto, we use contactless pay for a few a months and all of a sudden we’re at a place where having to key your pin in seems like a bit of a pain.

Apps like Be My Eyes don’t rely on overly sophisticated tech, but they do solve a really simple problem. In this case, it helps visually impaired and blind people around the world. Using the camera functionality on a smartphone and the assistance of an able-sighted volunteer anywhere in the world, visually impaired people can quickly check that they’re choosing the tin of tomatoes as opposed to that of beans, for example. It means they don’t have to wait until an able-sighted friend or family member is available and they can quickly get on with their life. It’s a really simple idea but for those benefitting from the app - it’s a game changer.

Develop a growth mindset

If you have the desire and the mindset, you can learn anything. A “growth mindset”, a term famously coined by psychologist Carol Dweck, refers to a person’s self-belief about their own abilities. Those with a growth mindset believe that their most most basic abilities can be developed with dedication and hard-work.

It’s quite empowering when you think about it - you are no longer bound by preconceived perceptions about your own intellectual abilities!

Famous examples of people with a growth mindset include Richard Branson, Malala Yousafazi, Elon Musk, Brian Balfour… think about any inspirational person that you associate with entrepreneurialism or who in some way is pushing boundaries and punching above their weight. Chances are it’s not because they were born with any special gift or ability more impressive than most of us - it’s because they have a finely tuned growth mindset - they’re willing to try, to fail, to learn and to keep growing.

Create

Finally - start doing. David Arnoux says: your greatest credential in this era is your output of stuff. The skills listed on your CV are just words without proof. There are cheap and easy to use tools which allow you to build, create and showcase. Think of it as a live CV and proof of your awesomeness.

It might not quite be an app (or it might) - the choice is up to you. Use what is available to you to build a website, a blog, a prototype, a simple data model... build stuff and showcase it.

“Traditionally, life has been divided into two main parts: a period of learning, followed by a period of working. Very soon this traditional model will become utterly obsolete, and the only way for humans to stay in the game will be to keep learning throughout their lives and to reinvent themselves repeatedly,” says Yuval Noah Harari.

(Source: Growth Tribe)

Uber has recently received a permit from the California Department of Motor Vehicles to test its robot cars in the state and Consumer Watchdog warned that the cars should not carry passengers while still being tested.

"When Uber illegally deployed its robot cars in San Francisco last year, the vehicles were observed driving through red lights," said John M. Simpson Consumer Watchdog's Privacy Project Director. "Uber's technology simply isn't safe enough to put passengers at risk."

Under California law companies testing self-driving cars with a permit in the state must file reports of any crashes and annual "disengagement reports" describing when the robot technology failed and a human operator had to intervene.  Both reports are posted on the DMV's website.

"Now that Uber has permits to test, the company's activities must be closely monitored by police," Simpson said. "What is clear is that Uber must not use passengers as human guinea pigs as part of a publicity stunt."

Consumer Watchdog asked people in San Francisco to watch out for traffic violations and safety threats by Uber's test vehicles. "If you see something, say something," Simpson said.  Send reports to: UberSF@consumerwatchdog.org.

(Source: Consumer Watchdog)