One of the major advantages of robots is that they can perform any kind of work if programmed accordingly and they can also work for longer hours without giving them any break. The robots are built in such a way that they can work for many years. This is a long time investment where you can get much of your work done with less cost. The industrial robots economic life span is approximately 12-16 years. The industrial robots have been producing good work and that they have become one of the important parts of the industries.
Pharmaceutical companies use machine vision systems in automated production lines to inspect injection needles, which are unusable if blunt or bent. Multiple cameras photograph needles as they flow through the system on powered conveyors. Sophisticated computer software analyses the captured images to determine needle sharpness and check the contour of the tube. Industrial robots use this information to separate and discard defect needles.
First, when you raise the cost of labor for small entry level jobs, there will be fewer of them as businesses raise their prices and clientele evaporates, some businesses will close, fewer jobs. The businesses and business models that survive will absorb those costs with rate and price increases to customers – this results in inflation therefore your dollar will be worth a little less, how much is hard to say; 10%, maybe 20%, which is about how much the minimum wage increase would be from what it is now if it went up to let’s say $10.00.
The idea of bringing back manufacturing jobs to have people, not robots, perform specific tasks to complete production would have a significant impact on the current state of the worldwide economy. The day and age of having only people perform automated jobs is over and Donald J. Trump will fail to bring back what he promised. This transition won’t appear to be cost-effective, the required high-tech relevant training will be scarce, and the worldwide economy would have less incentive to globalize.
According to Research Analyst, principal author of the market research study, “Industrial robot vendors have discovered that with intelligent use of new technology, they can dominate an aspect of some manufacturing automated process for a particular sector. As the early adopters in the auto industry have proven, robots do the work cheaper and better than humans once a repetitive process has been evolved. Industrial robots make the difference between winning competitive advantage or losing it. Solutions offered by vendors are creating market growth opportunities .”