We all know technology is growing faster than ever. Computers, the Internet of Things, robotics, and other types of automation are changing the way businesses operate—from the way goods are manufactured and distributed, to the way people work and the kinds of jobs they do. And as technologies evolve, they typically become more affordable, more advanced, and more universal. This is especially true of robots.

Today’s sophisticated robots are used in more ways than ever. And their growth is accelerating. Of course, robots have been around for a long time. Since the mid twentieth century, companies have realized the value of machines for completing simple, repetitive, heavy, or hazardous tasks—as well as how they can create opportunities for employees and free them up to spend time on higher value tasks.

Increasingly, companies of all kinds are recognizing the impact that robotics and innovation can have on making their businesses—and even their employees—more productive and efficient. Any industry that includes redundant, repetitive tasks in their operations can potentially gain a significant advantage by leveraging the power of robotic machines. In fact, in terms of productivity, the Boston Consulting Group predicts that robotics will account for a 30% increase over the next 10 years.¹

Robotics can also help companies become more competitive. This is particularly important for small-to-medium-sized businesses that are the backbone of both developed and developing country economies. The added boost to productivity and efficiency helps these smaller companies compete on a larger scale, or where the labor market is tighter. Automation helps large companies compete as well—giving them an edge by increasing the speed of product development and delivery.

In high-cost countries where labor and resources are particularly expensive, robots can enable companies to take back parts of their business that have been previously outsourced. In fact, when it comes to employment, the greatest threat is not automation as is sometimes thought, but an inability for companies to thrive and remain competitive.² Instead of displacing workers, robotics and automation can help maximize their potential by creating new opportunities to engage in tasks that have a higher impact on a company’s bottom line.

Want to learn more about robotics and its potential benefits for your business? Download the white paper.