Tech

7 Important 2022 Facts about Industrial Robots for SMEs

Published

3 years ago

May 4, 2022

Are you an SME or startup looking at the possibility of deploying industrial robots in 2022? If so, then there is every reason to be excited about recent developments in industrial robotics. More than ever, SMEs can start looking at industrial robotics to solve their production challenges. Here is why.

1. Industrial Robotics Powering Industry 4.0

For five years, emerging robotics solutions for businesses have appeared on the annual Gartner hype cycle. Recent industry stats from different sources indicate that robot sales have increased in the past five years. Why is this?

There is consensus among industry experts that adopting automation solutions like industrial robots will feature heavily as industry 4.0 takes shape. The increased adoption of robots can be attributed to the emergence of low-cost solutions, SME adoption, and emerging robot applications.

These developments are good news for SMEs looking to catch up with big players or compete through automation. The industry 4.0 wave is centered around widespread automation. In 2022, SMEs will enjoy better access to cutting-edge industrial robotics, leading to higher adoption numbers in the sector.

2. Non-Traditional Applications for Industrial Robots

Traditionally, industrial robots have been relied upon in large-scale manufacturing industries like the automotive and assembly industry. However, recent developments show that new, non-traditional applications are emerging for industrial robots. For instance, logistics companies involved in e-commerce are turning to industrial robots to increase efficiency.

The expansion of application areas and adoption of industrial robots in the non-traditional sector can be attributed to new, more innovative industrial robots coming to market. New industrial robots are more versatile, meaning they can be used in various ways. Some are even made to be altered, moved around, or reprogrammed as operational needs change.

3. Industrial Robots are becoming Cheaper to Buy and Run

A decade or so ago, buying and running industrial robots was the preserve of the most prominent players with the financial muscle to purchase or lease them. This meant that smaller players such as SMEs who wanted to get into the industry and compete were disadvantaged. However, this will change as cheaper, more economical industrial robots made for the SME sector come to market.

Look around today, and you will see many emerging robotic solutions that cost not more than a few thousand dollars and cost even less to run. These new industrial robots are smaller, affordable, and consume less power than the mammoth industrial robots of the past. In 2022, we will see more of these showing up at industry events and tradeshows—time for SMEs to shop for industrial robots and compete.

4. Collaborative Robots Will Feature Heavily

Traditional robots are not made to be used in standard working setups . They require safety fencing and other installations to operate safely and efficiently. Most SMEs do not have the resources to deploy them because their operational configurations usually need human workers.

Collaborative robots are new industrial robots designed with safety and versatility, making them ideal for SMEs. Collaborative robots can be deployed alongside humans in typical working environments. They do not require safety fencing. Human operators can use them for very specialized operations, a step above standard work machines.

For the last few years, cobots have enjoyed adoption in the SME sector and will feature heavily in 2022. Already, traditional robot manufacturers have recognized their potential and gotten in on the act. Still, it is the smaller, new robot manufacturers winning. Consider buying a cobot if you will be shopping for industrial robots in 2022.

5. Robots Are Becoming Smarter and More Versatile

Most people don’t associate intelligence or versatility with industrial robots mainly because traditional industrial robots are designed to do one or two tasks. However, there is a demand for robots that can take advantage of AI and ML to be more efficient at what they do and more versatile.

Newer robots are likely to be more intelligent and support a more comprehensive range of applications. This is a welcome development for SMEs because it means they can use their robots in various ways to save costs. At the same time, intelligent robots are more efficient because they can refine their arm movements for faster task completion.

6. Robots Will Become Easier to Use and Program

The consensus among industry experts is that traditional robots are too complicated. Trained experts who usually charge high rates must install and program a conventional robot. According to the International Federation for Robotics, modern robots are user-friendly. We already see this with new cobots coming to market with simple graphical programming interfaces.

For SMEs looking for industrial robots, the ability to install, run and program industrial robots without employing expensive robot engineers is a welcome development. It means fewer costs, more freedom, and better experiences running industrial robots. Modern collaborative robots are made with human-centered design principles for ease of use and better experiences.

7. A Revolution at The End of Arm Tooling Space

Many see the end of arm tooling as the heart of any industrial robot setup because it is the part that does the actual work. Traditionally, most robot adopters had to design bespoke end of arm tooling to fit their configuration or pay the manufacturer to attach specific EOATs to their robots. However, this has changed in recent years as compact, versatile robots made for SMEs come to market.

There is a revolution in the EOAT industry where several manufacturers make all kinds of EOATs and sell them as individual products. From plastic molding EOATs to simple gripping tools compatible with general-purpose robot arms. If you need to do something with your robot, you can be sure that there is an EOAT out there that can do it.

A welcome development to look forward to in 2022 is the emergence of the so-called “open industrial robot.” These are robots compatible with the end of arm tooling from other manufacturers, much like computer peripherals are cross-compatible. Soon, you will be able to purchase any industrial robot arm and use any EOAT you buy or use custom 3d printed ones.

There is every reason to be excited if you are an SME or company looking to automate with industrial robots in 2022. We already see the fruits of industry 4.0 in the robotics industry, and you, as an SME, are at the center of it. Start looking around and attending upcoming industry events to see what is offered.

We advise SMEs shopping for industrial robots to pay close attention to what emerging players are showcasing. These smaller or new players bring innovative solutions made for SMEs like you.

Tech

The Evolution and Impact of Crypto Swapping in the Financial Landscape

Published

2 months ago

September 19, 2024

Jonathan Grilli

Introduction

The rise of cryptocurrencies has revolutionized how we think about money and how we handle financial transactions. Among these innovations, the ability to swap crypto is a significant development, enabling a more fluid exchange of digital assets. This method allows for directly swapping one cryptocurrency for another without the need for traditional financial intermediaries, such as banks or conventional exchanges. Specifically, swap crypto platforms help these transactions through decentralized systems that enhance user autonomy and security. This article delves into the intricacies of crypto swapping, exploring its mechanisms, advantages, challenges, and potential to reshape the financial ecosystem. By examining how swap crypto functions within the broader context of digital finance, we gain insights into its transformative impact on personal and commercial financial practices.

Understanding Crypto Swapping

Crypto swapping refers to the exchange of one cryptocurrency for another. This can happen on various platforms, including centralized exchanges (CEXs) and decentralized exchanges (DEXs). However, the unique aspect of crypto swapping often refers to its operation on DEXs, which use smart contracts on blockchains like Ethereum to help peer-to-peer exchanges without the need for a central authority. These smart contracts automate the transaction process, ensuring that the terms of the swap are enforced transparently and without bias. The decentralized nature of DEXs enhances security by reducing the risk of hacks associated with centralized repositories and increases privacy, as transactions do not need personal information to be disclosed. Furthermore, DEXs often provide more diverse trading pairs and can help direct swaps across different blockchain networks, expanding the versatility and reach of crypto swapping. This method significantly contributes to the fluidity and interoperability of the cryptocurrency market, promoting greater integration and utility across various blockchain ecosystems.

The Mechanics of Crypto Swapping

The technology behind crypto swapping depends on using smart contracts. These are self-executing contracts with the terms of the agreement directly written into lines of code. In the context of DEXs, intelligent contracts automate the transfer of cryptocurrencies between parties once predetermined conditions are met, ensuring trust and eliminating the need for intermediaries. Platforms like Uniswap, Sushiswap, and PancakeSwap have popularized this model by offering liquidity pools. These pools are funded by users who deposit pairs of tokens, which are then available for others to trade against. When a user initiates a swap, the intelligent contract adjusts the prices based on the pool’s supply and demand dynamics, executing the trade instantly. This method simplifies the trading process and enhances efficiency by minimizing the time lag often encountered in traditional trading environments. Additionally, it democratizes access to financial markets by allowing virtually anyone to become a liquidity provider, potentially earning transaction fees. This dynamic fosters a more inclusive financial ecosystem and underscores the transformative potential of blockchain technology in reshaping traditional economic structures.

Advantages of Crypto Swapping

Increased Accessibility: Crypto swapping democratizes access to financial markets. Anyone with an internet connection can swap tokens without approval from traditional gatekeepers like banks.
Enhanced Security: By decentralizing the exchange process, crypto swapping reduces the risk of hacks and security breaches that can plague centralized platforms.
Lower Costs: Without the overhead associated with traditional financial institutions, crypto swapping can significantly reduce transaction fees.
Immediate Settlement: Transactions on DEXs can be settled almost instantly, unlike traditional banking transactions, which can take days.

Real-Life Impact

Example 1: Emerging Markets In countries with unstable currencies or restrictive financial systems, crypto swapping provides a viable alternative for individuals to obtain more stable, internationally-recognized currencies like Bitcoin or Ethereum. For instance, Venezuelans have turned to cryptocurrencies amidst economic turmoil to preserve their savings and engage in commerce.

Example 2: Entrepreneurial Ventures Startups increasingly use crypto swapping to manage their finances more efficiently. By leveraging DEXs, these companies can avoid the hefty fees and bureaucratic hurdles associated with cross-border transactions, fostering a more global approach to business operations.

Challenges Facing Crypto Swapping

Regulatory Hurdles: The lack of clear regulations around cryptocurrencies and DEXs poses challenges, including potential future restrictions that could affect the accessibility of crypto swapping.
Market Volatility: The prices of cryptocurrencies can be highly volatile. Rapid price fluctuations can lead to market instability and affect the reliability of executing swaps at desired prices.
Technical Barriers: Using DEXs and understanding blockchain technology need a certain level of technical knowledge, which can be a barrier for the average user.
Liquidity Issues: Some less popular tokens may face liquidity issues on DEXs, making it difficult to execute large orders without impacting the market price.

The Future of Crypto Swapping

As blockchain technology evolves and more users become comfortable with digital currencies, the scope of crypto swapping will likely expand. Innovations like cross-chain swapping and integration with traditional financial systems could further enhance usability and appeal. Moreover, with increasing attention from regulators worldwide, more precise guidelines could lead to more widespread adoption and integration of crypto swapping into mainstream financial practices.

Conclusion

Crypto swapping is more than a technological novelty; it represents a fundamental shift in how individuals and businesses interact with the global financial system. By offering a secure, efficient, and accessible means of exchanging value, crypto swapping has the potential to contribute significantly to the democratization of finance. This shift could empower individuals by giving them direct control over their financial transactions, thereby reducing dependency on traditional banking institutions and systems that often impose cumbersome processes and high fees. Moreover, businesses could leverage this technology to streamline operations, cut transaction costs, and expand into global markets with fewer barriers. However, navigating the associated challenges and ensuring a favorable regulatory environment will be crucial for realizing its full potential. As such, ongoing dialogue between innovators, regulators, and stakeholders is essential to forge regulatory frameworks that safeguard participants while fostering innovation. In this evolving landscape, crypto swapping stands not as a disruption but as a transformative force with the power to redefine financial engagement on a global scale.