Image: ShutterstockThe global drive toward digital transformation has made its mark on contact center processes and operations, with Salesforce predicting last year that the use of AI by customer service teams would see a 143% increase by 2020. AI-driven call center automation has had a significant impact on the efficiency and performance of individual agents, as well as on overall KPIs.

Automated workflows simplify agents repetitive daily tasks, such as auto-populating information on specific screens or sending follow-up emails after calls. AI makes personalized real-time agent coaching possible based on speech-to-text transcriptions and analytics, enabling agents to receive helpful feedback while they are speaking with the caller, instead of days or weeks later.

Management benefits from automated scheduling, which simplifies this time-consuming task by using AI to calculate agent availability, business hours, and other rule-based parameters to ensure there are no gaps in service coverage. Post-call analysis also benefits from AI. Automatic forecasting takes the huge volumes of data collected daily by contact centers and analyzes it all to reveal trends and draw conclusions about emerging best practices.

These efficiencies have certainly driven operational improvements, but data from Deloitte demonstrates that the real advantage of AI is yet to be fully realized: providing the ability to harness the power of collaboration between the human agent and the machine. Automated agent assistance gives agents real-time guidance during customer interactions, freeing them from the burden of remembering workflows, troubleshooting processes and rules the system does that and enabling them to focus on pleasing their customers or dealing with more complex issues. Using AI tools like Natural Language Processing (NLP) and sentiment analysis to understand what customers really want, the virtual agent sends contextualized guidance to the human rep during each interaction, including suggestions for resolutions and next best action steps.

Collaboration not only saves time and makes the contact center more efficient; it is capable of enhancing the human agents overall performance, making them smarter and expanding their possibilities for career development. Rejecting doomsday predictions that robots will take their jobs, many agents are embracing AI technology. A survey by Aspect Software found that agents appreciate the opportunity to handle more complex enquiries, with 81% saying AI improves their skills, 76% saying that it helps them make a bigger impact in the company, 70% saying that it boosts their chances of moving up and 68% saying that it improves their job satisfaction and loyalty.

This positive agent outlook is backed up by research. A Forrester report discusses how AI trends will transform agents roles by giving them the tools they need to succeed.

Specialization: as more routine general questions are handled by virtual agents or self-service channels, Tier-1 agents will make the shift from being generalists to specialists in specific areas.

Smarter agents: with agent assistance, reps effectively have a little birdie whispering the correct answers in their ears, cutting time to resolution and boosting both customer and agent satisfaction.

Machine supervisors: virtual agents learn as they process more information, but someone must train them. Mid-tier agents will write the scripts for virtual agents to follow, supervise the execution to ensure enquiries are being handled properly and address any discrepancies.

Superagents: higher volumes of complex enquiries will transform customer service agents into subject matter experts (SMEs), making them extremely valuable both inside and outside of the organization.

New tech-based roles: AI will be the driver of new jobs required by contact centers, involving oversight of call center automation. For example, contact centers will now require data scientists, data analysts and self-service app developers.

Image-oriented service represent a massive conceptual change for contact centers. Adding visuals to the mix eliminates the need for customers text-based inputs while agents no longer need to decipher verbal explanations. Instead, a Computer Vision-powered system enables automatic issue identification and knowledge base search for the correct resolution, adding value for both self-service interactions and decision support for human agents.

Powered by Computer Vision AI, visual assistants can more easily understand the customers issue and determine the best path to resolution. They can provide customers with clear and accurate instructions for self-service, enabling them to fix problems themselves. This remote visual guidance can be provided using a range of tools, including object detection and Augmented Reality. Using massive repositories of issues and resolutions, AI-powered visual assistants can optimize the customer self-service process from start to finish.

Computer Vision can add essential information to a customers profile based on visual data collected from past issues and smart telematic devices. It also powers visual agent assist systems which allow human agents to stay one step ahead, providing proven resolutions based on visual issue symptoms and even predicting issues before they happen. The key is collaboration: agents not only need to confirm the resolutions suggested by the system, but their feedback on how each fix is implemented drives further optimization of the knowledge base and the agent assist system.

The future of customer service is human-machine collaboration. As agents are increasingly tasked with handling more complex customer enquiries, collaborative AI tools, such as Computer Vision-powered systems, are becoming force multipliers within the contact center. Deploying these technologies whether in the form of self-service assistants or decision support tools is the future of collaborative AI, allowing human agents to act like, well, humans, and leaving the robotic work to the robots.

This article was first published on the TechSee blog.

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Call Center Automation Depends on Collaborative AI - Customer Think

A new informative report on the global Process Automation Software Market titled as, Process Automation Software has recently published by Contrive Datum Insights to its humongous database which helps to shape the future of the businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market shares, size, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static as well as dynamic aspects of the global Process Automation Software market.

The global Process Automation Software market was xx million US$ in 2019 and is expected to xx million US$ by the end of 2027, growing at a CAGR of xx% between 2020 and 2027.

Research Snapshot:

Historic Period: 2013-2018

Base Year: 2019

Forecast Period: 2020-2027

Key Segments: Type/Product, Application and Regions

Key Players: Adobe, AppSheet, Automation Anywhere, Blue Prism

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The report presents a thorough overview of the competitive landscape of the global Process Automation Software Market and the detailed business profiles of the markets notable players. Threats and weaknesses of leading companies are measured by the analysts in the report by using industry-standard tools such as Porters five force analysis and SWOT analysis. The Process Automation Software Market report covers all key parameters such as product innovation, market strategy for leading companies, Process Automation Software market share, revenue generation, the latest research and development and market expert perspectives.

The Top Key Players include: Adobe, AppSheet, Automation Anywhere, Blue Prism, Celonis, Creatio, Datamatics TruBot, Epicor, Intellibot, K2, kintone, Kissflow, Laserfiche, Minit, Ninox, Nintex, Pega, Pipefy, Process Street, ProcessMaker, Quick Base, Salesforce, Scoro, UiPath, WinAutomation, Zoho Creator

The global Process Automation Software market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.

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The reports conclusion leads into the overall scope of the global market with respect to feasibility of investments in various segments of the market, along with a descriptive passage that outlines the feasibility of new projects that might succeed in the global Process Automation Software market in the near future. The report will assist understand the requirements of customers, discover problem areas and possibility to get higher, and help in the basic leadership manner of any organization. It can guarantee the success of your promoting attempt, enables to reveal the clients competition empowering them to be one level ahead and restriction losses.

Scope of the report: This report describes the global Process Automation Software market, in particular in North America, South America, Africa, Europe and Asia-Pacific, and the Middle East. This report segments the market based on producers, regions, type and use. In the next time, Process Automation Software will have good demand, although the value may fluctuate due to the rapid transformation in the availability of raw materials and other resources.

The study objectives of global market research report:

To analyze the global Process Automation Software market on the basis of several business verticals such as drivers, restraints, and opportunities

It offers detailed elaboration on the global competitive landscape

To get an informative data of various leading key industries functioning across the global regions

It offers qualitative and quantitative analysis of the global Process Automation Software market

It offers all-inclusive information of global market along with its features, applications, challenges, threats, and opportunities

Major questions addressed through this global research report:

Table of Content

1 Overview of the Process Automation Software market

2 Market competition by manufacturers

3 Production capacity by region 3 Production capacity by region

4 World consumption of Process Automation Software by region

5 Production, Turnover, Price trend by Type

6 Global Process Automation Software Market Analysis by Application

7 Company Profiles and Key Figures in Process Automation Software Business

8 Process Automation Software Manufacturing Cost Analysis

9 Marketing Channel, Distributors and Customers

10 Market Dynamics

11 Production and Supply Forecast

12 Consumption and demand forecasts

13 Forecast by type and by application (2021-2026)

14 Research and conclusion

15 Methodology and data source

Continuous

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Process Automation Software Market (2020 To 2027) is booming worldwide with Adobe, AppSheet, Automation Anywhere, Blue Prism - News Times

The rapid ascension of the global insurtech sector has been incredible to watch and is showing no signs of slowing down. The development of these businesses, the best of which seamlessly blend innovative solutions with traditional products, has marked a make-or-break moment for the insurance industry, which has traditionally been viewed as slow to embrace change that is not necessitated by regulation. Executive vice president for EMEA at Munich Re Automation Solutions, Paul Donnelly (pictured), recently spoke with Insurance Business to give an overview of how digital transformation is impacting the insurance sector.

Insurance has long been viewed as the most conventional [branch] of the financial services sector, he said. Risk-averse in nature, it has only begun to approach digital innovation relatively late in the game.

Yet while the sector was slow to get off the ground, Donnelly detailed, the last 10 years have been something of a rollercoaster ride as the industry rushes, not just to catch up with but to overtake the fintech wave. Today, he said, the trend towards the digitization of services is accelerating quicker than in many other sectors.

Donnelly outlined how Munich Re Automation Solutions first began as an Irish software start-up in 1986 before it was acquired by Munich Re Group in 2007. This acquisition was made to answer the burgeoning need for a technology expert in risk assessment, he said, and has since seen the group become a pioneer in augmented automated underwriting.

As an insurtech that was around in the very early days, when we would come up against a lot of pushback to the adoption of new technology, he said, this rapid shift has been very rewarding to witness.

Looking to the development of the insurtech sector, Donnelly outlined how, when insurtech began, it was a means of making what was already possible more efficient by speeding things up, reducing costs and mitigating errors. However, he has seen over the course of the last year how the sector has evolved from optimizing processes to making the impossible possible.

The newest generation of insurtech has enabled insurers to break through traditional barriers and vastly improve speed-to-decision, he said. We hope 2020 will see insurtech continue to revolutionize not just how the insurance industry functions, but how it is perceived. At Munich Re Automation Solutions, our goal is for applying for insurance to one day to be seen as being as simple as buying something from Amazon. With rapid innovations in insurtech, we believe that day is well on the horizon.

The central challenge currently existing within the insurtech sector, he said, is that every insurer and his dog is now trying to join the insurtech race.

This has put enormous pressure on us to ensure were keeping up, not just with the volume of demand, but with the unique needs of our rapidly diversifying clientele, all while maintaining our quality of service, he said.

The last five years have been defined by a shift towards on-demand client servicing, Donnelly said. He noted that while the insurance sector has not typically been seen as front-and-centre in driving innovation in financial services, 2019 saw insurers increasingly look towards how they can better compete in the eyes of the always-on customer.

Munich Re Automation Solutions recognized the potential for Software-as-a-Service (SaaS) solutions to both vastly improve agility and democratize the market, he said. With a particular goal of better servicing the mid-tier market, we took the leap from an enterprise-hosted service to SaaS. SaaS allows us to provide customers with exactly what they need, when they need it, improving time and cost efficiency.

The core strength of insurtechs is that they allow for radical change to take place in traditionally un-radical institutions, Donnelly said. They are uniquely separate from the everyday demands of the process-laden insurance industry, he said, and thus are in a position of being able to think more innovatively about how to meaningfully disrupt the market and improve customer service.

This allows insurance companies to focus on day-to-day tasks, he said. Donnelly outlined how this is especially significant for brokers within the insurance sector, as a traditional insurance brokers day is made up of 70% admin and 20% business sales, with only 10% left for providing expertise to clients.

Through the digitization and automation of administration tasks, insurtechs allow brokers to focus on where they can really add value, he said.

Donnelly believes that brokers need to embrace the improved speed-to-decision capabilities that insurtechs can provide as data is only powerful when it is harnessed correctly. By partnering with the right insurtech, he said, brokers will be able to capture and process data more efficiently to improve all business processes, from sourcing the right target market to product development.

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Munich Re Automation Solutions on the rise of the insurtech sector - Insurance Business

The "APAC Automation and Control Systems Market in the Upstream Oil and Gas Industry, Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

This research service discusses revenues generated by various automation and control system (ACS) companies in Asia-Pacific that supply to organizations involved in upstream oil and gas activities. The companies included in this study are all major ACS vendors or service providers.

Research Scope

The objective of this study is to identify the major end users, distribution channel for each product segment, and the major suppliers of ACS in APAC. The study also discusses the revenue contribution of major vendors in the market. Historical data from 2015 to 2017 are examined and included. Considering the prevailing political, legal, and economic situation and other trends, the study also forecasts revenue and growth rates till 2023 and discusses major factors affecting the industry. Drivers, restraints, and initiatives and support from public and private organizations are also provided.

It is seen that national oil companies across APAC are facing problems due to their maturing assets and growing domestic energy demand, which points toward more collaboration/need for partners with technical and financial capabilities to help maximize recovery. It is also seen that by 2020, companies across Australia will be investing in building sizeable utility storage, solar, other renewable sources. As many environmental agencies and governments are focusing on replacing conventional sources with green energy, there is a lack of transparency or clarity at different levels, especially in Southeast Asia. While benefits of using cleaner sources are well understood, it is not clear if energy generated from such sources will meet the requirements over the long term. Revenue split among major vendors has been discussed for the total market while analyzing their strengths, weaknesses, opportunities, and threats in the market.

Story continues

Product Scope

The product segment includes the following categories:

Programmable Logic Controllers (PLC)

Supervisory Control and Data Acquisition (SCADA)

Distributed Control System (DCS)

Human Machine Interface (HMI)

Safety Systems (SS)

Key Issues Addressed

What is the total revenue generated in the ACS market from upstream O&G industry, and what factors will impede/help the adoption of automation systems?

Who are the major market participants, and what is the competitive scenario currently?

What are the prevailing trends in the ACS market, and how will these shape up in the years to come?

What factors do end users look at while choosing a supplier and why?

What opportunities are likely to come up in the future that will be of interest to the automation suppliers?

Key Topics Covered:

1. Executive Summary

2. Market Overview

Overview of APAC

Research Scope

Market Segmentation

Product Definitions

Key Questions this Study will Answer

Percent Revenue Breakdown by Automation Component

Percent Revenue Breakdown by Product

Market Distribution Channels

3. Automation Trends in O&G Industry

Key Trends in O&G Industry

Opportunity Areas for ACS Suppliers

Profiles of Select Channel Partners (EPCs and SIs) Across APAC

Supply Chain Stakeholders

4. Drivers and Restraints - Total ACS Market

Market Drivers

Drivers Explained

Market Restraints

Restraints Explained

5. Forecasts and Trends - Total Market

Market Engineering Measurements

Forecast Assumptions

Revenue Forecast

Revenue Forecast Discussion

Revenue Forecast by Product

Revenue Forecast Discussion by Product

PESTLE Analysis

6. Market Share and Competitive Analysis - Total Market

Market Share

Competitive Environment

Automation Vendors' Presence Across Products

Best Practices from the Market Leader

Key Success Factors for Market Leader - Yokogawa

Key Success Factors for Yokogawa

7. CEO's 360 Degree Perspective on the Total Market

8. Growth Opportunities and Companies to Action

TIES Project - Major Growth Opportunities

Growth Opportunity 1 - Monitoring and Managing Legacy Systems

Growth Opportunity 2 - Integrated Unit Instead of Silos

Growth Opportunity 3 - Digital Stocks

Strategic Imperatives for Success and Growth

9. PLC Segment Analysis

10. DCS Segment Analysis

11. SCADA Segment Analysis

12. HMI Segment Analysis

13. SS Segment Analysis

14. The Last Word

15. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/hxv81e

View source version on businesswire.com: https://www.businesswire.com/news/home/20200305005619/en/

Contacts

ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900

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APAC Automation & Control Systems Market in the Upstream Oil & Gas Industry, Forecast to 2023 - Positive Market Sentiments Point to Slow...

UKRAINE - 2020/02/25: In this photo illustration the Microsoft logo is seen displayed on a ... [+] smartphone. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)

Robotic Process Automation (RPA), which involves automating repetitive and tedious processes within organizations, is dominated by three pure-play software vendors:UiPath, Blue Prism and Automation Anywhere.These companies are some of the fastest growing in the tech industry and have raised substantial amounts of venture capital.

But the mega software companies want to get a piece of the RPA opportunity.And the one that is perhaps best positioned is Microsoft.

This should be no surprise.The company has a massive roster of corporate customers, a strong global infrastructure and a vast ecosystem of partners and developers.It also helps that Microsoft has been aggressively bolstering its cloud business, which is now second only to Amazon.

The key to the strategy for RPA has been to leverage the Power Automate platform, which helps automate legacy systems.Just some of the features include:the understanding of structured and unstructured data (say for invoices) and the integrations with more than 300 modern apps and services.There are also numerous AI capabilities.

Ok then, so what about RPA? Well, it was added last year. Its called UI Flows, which has both attended and unattended automation.The application also is fairly easy to use as it allows for the recording of workflows (keystrokes, mouse movements, data entry, etc) and provides for low-code and no-code approaches.For example, Schlumberger has used the technology to drive efficiency with 13,000 botsand a majority of them were built outside of IT.

Everybody can be a developer, said Charles Lamanna, who is the CVP of the Citizen Developer Platform at Microsoft.It takes less than 30 seconds to sign up.You can then create a bot in a few minutes.

However, might the accessibility of this technology lead to security issues?For instance, could an employee do something like put payroll information in Dropbox storage?

Microsoft is certainly mindful of the risks and has created a system to enforce compliance.This is possible since the platform is cloud native.You have complete visibility with every bot, said Lamanna.

So how big is UI Flows in the RPA market?Well, its not clear.But in a blog post, Microsoft noted:Power Automate already helps hundreds of thousands of organizations automate millions of processes every day.

For example, Ingram Micro uses Power Automate across its organization to help with onboarding, account creation, management of credit lines, and other critical workflows.About 75% of the projects took less than 30 days to develop.

Yet I suspect we will see accelerated growth of UI Flowsand soon.A big part of this will certainly be the core technology.But I think the business model is also likely to be disruptive to the RPA industry.

Consider that its typical for a software vendor to charge on a per-bot basis, which could come to over $1,000 per month.This does not include the fees for orchestration and other modules.

But Microsoft is breaking this model, which involves two tiers. First, there is a $40-per-user monthly fee for running attended or unattended bots.Next, you can elect to pay $150-per-month for each unattended bot.

In other words, this low-cost strategy should greatly expand adoption.It will also likely have a major impact across the RPA landscape.Cost has certainly been a major point of concern for customers, especially those that are looking to scale the automation.

There are three trends on the horizon for RPA, said Lamanna.First, cloud is inevitable and cloud hosting will be the only environment that matters end-to-end. Second, if RPA wants to become mainstream, it has to be democratized. The reality is Windows didnt become a big deal until it was on everybodys desk. For RPA to be transformative, it has to be on everybodys desk. And the need for RPA is real. Over 60% of all positions for information workers spend over 30% of their time doing rote, automatable tasks. The economic benefit for companies, and even more importantly the fulfillment at work for employees, is very, very large. We just have to make it possible and affordable. And third, automation is going to stretch beyond UI automation. True automation has elements like chatbots and forms that collect information and these will all start to mix together with digital process automation and robotic process automation. Customers want to solve an automation problem with one integrated solution.

Tom (@ttaulli) is the author of the book,Artificial Intelligence Basics: A Non-Technical Introduction, as well as the upcoming book, The Robotic Process Automation Handbook: A Guide to Implementing RPA Systems.

Originally posted here:

Microsoft Goes All-In On RPA (Robotic Process Automation) - Forbes

WORCESTER - State Secretary of Labor and Workforce Development Rosalin Acosta visited the Worcester Regional Chamber of Commerce on Thursday touting upbeat economic numbers - including just a 2.8% unemployment rate in Worcester and the state - and a technical training initiative modeled in part on Worcester Technical High School.

But she also warned of the two As - aging and automation - that will define the future of work.

Seventy percent of current jobs in food service and retail will no longer exist in 2030, Acosta said, citing a recent report, as an example of the changes to come in the economy. We have to get ready for this displacement.

Acosta was the keynote speaker at the Chambers Breakfast Club meeting held at the College of the Holy Cross on Thursday.

Preliminary numbers (to be revised later this month) indicate that last year more than 45,500 jobs were added in Massachusetts, with the education and health services sectors accounting for more than 50% of those jobs.

Moreover, the unemployment rate in Worcester has decreased from 7% to 2.8% during the Baker Administration.

But while the economy as a whole is doing really well, we also know that were seeing a very tight labor market, Acosta said.

In the last quarter there were more than 200,000 job openings in Massachusetts, but only around 110,000 people looking for work, Acosta said.

For all of the employers who say they cant find people, thats one of the reasons they cant find people, Acosta said.

But the administration is aware of the problem.

Acosta cited two initiatives the administration is pushing to help employers find people.

The first focuses on the technical trades, with the Career Technical Initiative - a program that hopes to train 20,000 people in the next four years in trades and technical jobs.

The goal is to expand technical high schools into three-shift institutes. Enrolled students will be at the school from 9 a.m. to 2 p.m.; then, from 2 to 5 p.m. the school and its resources will be open to other high school students in the area; and from 5 to 9 p.m. the school will be available for adult education.

It is a model that Worcester Tech already uses, and Gov. Charlie Baker visited the school two weeks ago to launch the program. The initiative leverages the $78 million that the Baker administration has invested in technical and vocational schools through Workforce Skills Grants, and Acosta compared the schedule to that of a high-tech factory.

If you are buying capital for your factory, you wouldnt close your factory at 2 oclock; you would keep it going, Acosta said. Thats the idea here, making sure that were using those technical schools to the maximum.

A second initiative is an apprentice program focusing on technology - particularly web developers, software developers and cybersecurity experts - and health care workers.

The program consists of five months of classroom training followed by a yearlong apprenticeship with partners such as Wayfair, Harvard University, Liberty Mutual, and Eversource.

When you say to me, I have no people, I want to supply those folks, Acosta said.

And all of these training opportunities will be important, as the future of work looks turbulent with the two As - an aging and retiring workforce and automation of many jobs.

To help navigate this uncertainty, Acosta encouraged employers to tailor job descriptions to emphasize skills - rather than degrees - required. In addition to attracting a wider applicant pool, this could also attract more diverse candidates, Acosta said.

And as to how the state will handle this economic uncertainty, Acosta expressed measured optimism.

Im optimistic but realistic, Acosta said.

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Aging and automation shaping workforce, labor secretary tells Worcester business group - Worcester Telegram

Hospitals should focus on reducing staff workload and human errors. Source: Shutterstock

The concept of going digital can sometimes be misinterpreted as hoarding complex technologies in a bid to be more advanced, which is actually inaccurate.

Instead, going digital means deploying technological solutions to help improve processes and solve operational issues that are hampering an organization from achieving its goals. Chief information officers (CIOs) know this best.

Hua Chiew Hospital CIO Panuratn Thanyasiri recently revealed in an interview that a successful digital transformation within the healthcare space must satisfy certain efficiency and productivity benchmarks.

Specifically, he elaborated that the key to success relies on whether or not the digital strategies implemented and solutions deployed result in the reduction of healthcare providers workload burden and errors.

True enough, back-office workloads have been affecting the performance of doctors and medical staff in delivering patient-care services. In fact, according to a study, doctors who spend more time on administrative tasks have lower career satisfaction.

Thanyasiri, who was once a cardiologist, explained that going digital should benefit the staff while at the same time, improve the delivery of healthcare services.

He explained that while administrative tasks are part of the staffs workload, they are essentially unnecessary and burdening, as they limit staff from focusing on patient care

Not only that, the CIO explained that this burden then result in medical data that are ridden with human errors. Especially when it comes to tasks like transcribing and data-entry which by right, requires high focus and attention, and an ample investment of time.

With an immense amount of affordable digital tools available in the market, hospitals can now easily automate these tasks and improve work processes for their staff.

He emphasized the fact that reduced workload and fewer errors would significantly impact how staff can deliver excellent services as he shared that the vision for the Hua Chiew Hospital is to improve patient care and drive sustainable business growth.

Additionally, he also made it clear that digitalization should result in operational processes that are easier to manage. The systems and devices used must be easy to operate allowing staff to focus on attending to patients instead of configuring complex technology.

One of the primary focuses is to develop a standard interface system that would allow information to flow from one device to another. He pointed out that an effective standard interface enables data from medical devices to be delivered smoothly to the health information system.

Having achieved this would mark a success in a hospitals digital transformation journey which is admittedly true because going digital is an emphasis on greater efficiency and higher productivity. After all, improving operations and driving efforts towards delivering patient-centric services can only result in greater business development opportunities.

Adlina AR | @RahimAdlina

Adlina A. Rahim is a content writer, looking for innovative technologies and solutions that help SMEs move forward in the digital-first world.

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How automation is taking some of the burden for healthcare workers - Tech Wire Asia

Best known for its front office networking technologies, Cisco is increasingly developing technologies for industrial networks. Of course, Cisco is not new to the industrial networking realmthe company has worked with Honeywell on industrial wireless, Claroty on cybersecurityand produces its own industrial network switches.

Now Cisco is offering industrial cybersecurity and edge software technologies.

Cisco Cyber Vision screenshotOn the cybersecurity front, the company has released Cisco Cyber Vision, which it describes as the first software-based security product for automated discovery of industrial assets [that] analyzes traffic from connected assets and creates segmentation policies to prevent lateral movement of threats across operational environments. Ciscos Talos threat intelligence enables Cyber Vision to monitor cybersecurity threats in real time that affect uptime, productivity, and safety.

Cisco is embedding Cyber Vision in its industrial network equipment.

Cisco's Liz CentoniDescribing the industry drivers behind the companys development of this product, Liz Centoni, senior vice president and general manager of cloud, compute and IoT at Cisco, says, While the communication network has always been the backbone for IT, it is becoming foundational for operational environments where customers require real-time access to machine data. But access to this real-time data is seen as being risky by many industrial companies because its been nearly impossible to know what is out there in those vast operations. I have never talked to a customer who says they know 100% of their devices and industrial controls. Industrial environments have been operational for decades, grown to meet demand and through mergers and acquisitions. So theres a mix of legacy and IP-based equipment that customers dont want to touch for the fear of disrupting current operations.

Acknowledging that the identification of assets and vulnerabilities is the first phase to successfully securing an industrial network, Vikas Butaney, vice president of product management at Cisco IoT says, Ciscos Cyber Vision enables organizations to gain a full understanding of what devices are on the network, what devices are communicating to each other, and what the devices are saying. Using this information, Ciscos Cyber Vision can identify known vulnerabilities, enabling organizations to quickly identify where they are and how to correct or protect against them.

Cisco's Vikas ButaneyButaney explains that Cyber Vision is integrated with Ciscos IT security to provide device data directly to Ciscos DNA-Center for policy creation, as well as with Ciscos Identity Services Engine for segmentation and enforcement, and with Ciscos Stealthwatch to provide the context of the asset behind the IP address. We also have OT-specific intrusion prevention (using Snort rules to detect the actual vulnerability, rather than an exploit) that can be enforced in our OT-specific firewall, the ISA3000, he says.

He adds that Cyber Vision has the ability to understand and decode industrial protocols used in the manufacturing, utilities and oil and gas industries, and that Cisco strives to cover the majority of protocols that customers will see. Cyber Visions RESTful API (application programming interface) can be used to connect Cyber Vision to proprietary protocols in any industrial environment.

With Cyber Vision, Cisco claims it has removed the complexity of a multi-vendor, multi-data, and multi-asset infrastructure to deliver simple IoT cyber security solutions that can be managed on any of Cisco's gateways, switches, or routers, bringing end-to-end security and simplified data management together.

For edge applications, Cisco offers Edge Intelligence. According to the company, this product simplifies the extraction of data at the network edge to streamline data delivery to multi-cloud and on-prem destinations to help businesses better manage data from start to finish.

Centoni says she often hears customers lament that current approaches [to edge computing] require custom software and integrations of technologies from multiple vendors both on the IT and OT side. These projects quickly become overwhelmingly complex to deploy and manage. These solutions are further challenged with no easy way to control what data is delivered to specific applications running in modern multi-cloud (public, private, and hybrid) environments.

Cisco Edge Intelligence reportedly addresses these issues by allowing operators to create data flows that deliver data from the IoT edge to multi-cloud destinations reliably and securely. Like Cisco Cyber Vision, it is a software service deployed onCiscos IIoT Networkingportfolio for out-of-the box deployments, Centoni says.

Features of Cisco Edge Intelligence include:

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Cisco Focuses on Industrial Cybersecurity and the Edge - Automation World

The industrial automation and instrumentation market in India is poised to grow by USD 2.58 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. Request free sample pages

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Technavio has announced its latest india research report titled Industrial Automation and Instrumentation Market in India 2020-2024 (Graphic: Business Wire)

Read the 120-page report with TOC on "Industrial Automation and Instrumentation Market in India Analysis Report by Product (Industrial automation and Industrial instrumentation), and End-users (Process industry and Discrete industry), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/industrial-automation-and-instrumentation-market-in-india-industry-analysis

The market is driven by the simplification of manufacturing through automation. In addition, the shift toward lean manufacturing is anticipated to boost the growth of the industrial automation and instrumentation market.

Manufacturing firms in India are increasingly adopting automation to overcome various complexities and simplify the manufacturing processes in a bid to improve productivity. The integration of technologies such as robotics, AI, and machine learning is helping manufacturing firms reduce labor costs, eliminate human errors, and automate the entire process with improved lead times. Also, the incorporation of sensors, analyzers, and transmitters provides valuable insights and ensures controlled production operations. With increasing competition in the Indian market, the adoption of automation systems is expected to gain momentum during the forecast period. This will fuel the growth of the industrial automation and instrumentation market in the country.

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Major Five Companies in Industrial Automation and Instrumentation Market in India:

ABB Ltd.

ABB Ltd. operates its business through segments such as Electrification products, Robotics and discrete automation, Industrial automation, and Motion. The company offers a wide range of industrial automation process products such as PLC automation, control systems, motors and generators, and measurement products.

Eaton Corp. Plc

Eaton Corp. Plc operates its business through segments such as Electrical products and electrical systems and services, Hydraulics, Aerospace, Vehicle, and eMobility. The company offers a range of contactors and starters, sensor and limit switches, pump panels, soft starters, and control relay and timers.

Emerson Electric Co.

Emerson Electric Co. operates its business through segments such as Automation solutions, Climate technologies, and Tools & home products. The company offers a wide range of industrial automation products. Some of its key offerings include control valves, pressure transmitters, remote automation and SCADA solutions, and liquid and gas analyzers.

General Electric

General Electric operates its business through segments such as Power, Aviation, Lighting, Renewable energy, Healthcare, Oil and gas, and Transportation. The company offers automation and protection equipment and software solutions.

Story continues

Honeywell International Inc.

Honeywell International Inc. operates its business through segments such as Aerospace, Honeywell building technologies, Performance materials and technologies, and Safety and productivity solutions. The company offers standalone instruments, smart sensors, and integrated systems.

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Industrial Automation and Instrumentation Market in India Product Outlook (Revenue, USD Billion, 2020-2024)

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Related Reports on Industrials Include:

Plastic Crates Market in India Plastic crates market in India by material (PE, PP, PVC, and others) and end-users (F&B, industrial, retail, pharmaceutical, and others).

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200303005718/en/

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Industrial Automation and Instrumentation Market in India 2020-2024 | Evolving Opportunities with ABB Ltd. and Eaton Corp. Plc | Technavio - Yahoo...

Ever play music or talk to Siri on your HomePod only to be blown away by the volume, and not in a good way? Me too, but theres an automation that can help.

HomePod has two characteristics that make this automation useful for me.

First, Apples smart speaker has a remarkably long memory of what it played last and how loud it played. Tap the top of the HomePod after a week without use and it will blast you with the last played track.

That tap behavior is the other thing. You can disable Hey Siri voice control, but you cant set a HomePod to ignore touch input. This can result in unexpected loud music when you bump the top dusting or when your toddler learns what that button does.

New features added in iOS 13 introduce a useful workaround. You still cant set your HomePod to ignore touch input, but you can automate how loud it plays.

A similar feature supported by Amazon Echo smart speakers motivated me to find the same behavior for HomePods.

Apples Home app lets you automatically set AirPlay 2 speaker volumes at specific levels based on triggers like time or location.

Each night at midnight, the volume on my HomePod resets to 30% so its not too loud (or too quiet) the next time I use it.

You can choose your own schedule and volume.

Start by creating an automation in the Home appon iOS 13 or macOS Catalina for when a time of day occurs.

Choose your time and schedule, then proceed to select AirPlay 2 speakers in your Home app. Finally, look for the Media section and click Audio, then select Adjust Volume Only and set your custom volume on the slider.

Save your automation, then enjoy the quality of life improvement from your HomePod and other AirPlay 2 speakers consistently starting each day with a reasonable volume. Know someone else with HomePods? Share this tip to teach them how to automate HomePod volume too!

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HomePod volume blasting you away? Try this volume automation - 9to5Mac

DUBLIN, March 5, 2020 /PRNewswire/ -- The "Automated Material Handling (AMH) Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.

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In 2019, the automated material handling market was valued at USD 6.42 billion and is expected to reach a value of USD 10.96 billion by 2025, registering a CAGR of about 11.3%, over the forecast period 2020-2025.

The Census of Fatal Occupational Injuries, which has been conducted under the U.S. Bureau of Labor Statistics, has established that workplace injuries have decreased by 25% in 10 years, due to the advent of various technologies in the workplace. This helps in boosting the automated material handling market.

Key Highlights

Major Market Trends

Airport Developments to Significantly Drive the Market Growth

Asia-Pacific to Witness the Fastest Growth

Competitive Landscape

The automated material handling market is fragmented and highly competitive in nature. Some of the major players are Daifuku Co, BEUMER Group, Siemens, JBT Corporation, Honeywell Intelligrated amongst others. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition.

Some of the recent developments are:

Key Topics Covered

1. INTRODUCTION1.1 Study Assumptions and Market Definition1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS4.1 Market Overview4.2 Industry Value Chain Analysis4.3 Industry Attractiveness - Porter's Five Forces Analysis4.3.1 Bargaining Power of Suppliers4.3.2 Bargaining Power of Buyers4.3.3 Threat of New Entrants4.3.4 Intensity of Competitive Rivalry4.3.5 Threat of Substitutes

5. MARKET DYNAMICS5.1 Market Drivers5.1.1 Increasing Technological Advancements Aiding Market Growth5.1.2 Industry 4.0 Investments Driving the Demand for Automation and Material Handling5.1.3 Rapid Growth of E-Commerce5.2 Market Restraints5.2.1 High Initial Costs5.2.2 Unavailability for Skilled Workforce

6. SEGMENTATION - BY PRODUCT TYPE6.1 Hardware6.2 Software6.3 Services

7. SEGMENTATION - BY EQUIPMENT TYPE7.1 Mobile Robots7.1.1 Automated Guided Vehicle (AGV)7.1.1.1 Automated Forklift7.1.1.2 Automated Tow/Tractor/Tug7.1.1.3 Unit Load7.1.1.4 Assembly Line7.1.1.5 Special Purpose7.1.2 Autonomous Mobile Robots (AMR)7.1.3 Laser Guided Vehicle7.2 Automated Storage and Retrieval System (ASRS)7.2.1 Fixed Aisle (Stacker Crane + Shuttle System)7.2.2 Carousel (Horizontal Carousel +Vertical Carousel)7.2.3 Vertical Lift Module7.3 Automated Conveyor7.3.1 Belt7.3.2 Roller7.3.3 Pallet7.3.4 Overhead7.4 Palletizer7.4.1 Conventional (High Level + Low Level)7.4.2 Robotic7.5 Sortation System

8. SEGMENTATION - BY REGION8.1 North America8.2 Europe8.3 Asia-Pacific8.4 Latin America8.5 Middle East & Africa

9. KEY VENDOR PROFILES9.1 Daifuku Co. Ltd.9.2 Kardex Group9.3 KION Group9.4 JBT Corporation9.5 Jungheinrich AG9.6 TGW Logistics Group GmbH9.7 SSI Schaefer AG9.8 KNAPP AG9.9 Mecalux S.A.9.10 System Logistics9.11 Viastore Systems GmbH9.12 BEUMER Group GmbH & Co. KG9.13 Interroll Group9.14 WITRON Logistik9.15 Dearborn Mid-West Company9.16 KUKA AG9.17 Honeywell Intelligrated9.18 Murata Machinery Ltd.9.19 Toyota Industries Corporation

10. INVESTMENT ANALYSIS

11. FUTURE OF THE MARKET

Story continues

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Automated Material Handling (AMH) Market, Forecast to 2025 - Daifuku, BEUMER Group, Siemens, JBT, and Honeywell Intelligrated are Dominating - Yahoo...

According to a 2017 survey by PwC, 37%[1] of people are worried about automation putting jobs at risk. But with around 23% of roles in construction globally likely to be affected by high automation rates[2], is there really anything to worry about?

Not new and needed

Concerns about the impact of technology on the UK labour market are nothing new. Going back to the Industrial Revolution, the UK saw protests in the streets over the effects of machinery in the textile industry. But in reality, the changes had limited impact on roles and led to huge improvements in productivity.

Looking to our industry and current times, similarly, its projected that the increase in automation may actually cause greater investment in infrastructure and in turn, construction, meaning job gains[3] and significantly, will likely lead to a marked increase in productivity. When you consider that the construction sector remains the least productive industry in the UK economy, at more than 20 percentage points below the average output per hour for the whole economy in 2017, this is something we desperately and urgently need to improve.

A technological evolution or revolution?

When some people think about technology in construction, initial thoughts might be of exoskeleton suits and robots. Yet the replacement of skilled bricklayers with machines isnt something were going to see overnight. Instead, we can expect the role of automation, artificial intelligence (AI) and big data to continue to penetrate and enhance our industry as it is already doing so in many places.

Within its Will robots really steal our jobs? report, PwC described three waves that were likely to see in the next 10 years. Algorithm, it outlines, is the automation of simple tasks such as payments and scheduling. Augmentation covers the use of automated statistical analysis of data and human controlled UAVs two technologies already heavily used in our industry to positive effect. Then a final wave, Autonomy, which may see the automation of labour and is more akin to the futuristic view of what technology in construction means to some.

As part of this phased approach, PwC predicts that around 15% of jobs in construction globally may be at risk of automation in the Algorithm and Augmentation waves broadly where we are now with a further 15% likely affected when we the third Autonomy stage.

In essence, this report and intelligent, measured thinking in our industry shows that there is no significant or immediate threat to our sector, with people simply replaced by technology and rendered useless. In reality, this is far from the case.

Yes, roles are likely to change due to the emergence of new technologies, but it doesnt necessarily mean they will disappear altogether. Whats more likely is an evolution, with jobs changing overtime to, amongst many things manage, control and complement technology.

A change in skillset and mindset

When looking at the emerging role of technology in construction, we must be aware of our language and refrain from extremes and hyperbole. As you might expect, stating we should automate everything creates resistance from those who, naturally, are afraid of their career lifespan as a result.

Yet when we frame it as adaption and talk about how technology can complement, remove laborious manual tasks and improve worker safety, were likely to be met with a different response. In fact, around two-thirds of people are ready to learn new skills or re-train to remain employable in the future[4].

By harnessing the appetite for technology amongst digital natives and re-training and establishing continuous learning programmes with our more traditional workforce to change perceptions of technology, we can alter the skillset of our workforce for the better and at the same time, build their confidence and flexibility.

A great example of how Topcon is helping to narrow the skills gap is through Class Of Your Own (COYO). Weve been a supporter of the initiative for many years, as we believe this is an organisation that is tackling the skills problem in ways that are having a real impact. The team has delivered its Design Engineer Construct! (DEC) learning programme in around 100 schools so far, but not alone. COYO has been training up industry experts to support the delivery of the programme, enabling them to develop their own classroom skills and have an opportunity to speak to the next generation on behalf of their business.

Technology and change in action

Within vertical construction, we have been putting these principles into practice with great success, focusing on how, as the PwC report outlines, technology can augment processes and methodology.

When building upwards there is a significant investment of time in design and planning to ensure the structure, while being built and once complete, is stable and safe, which requires project delivery teams to meticulously verify their work. Without this, misplacements and deviations are easily missed, which can have a knock-on impact on progress and of course, safety.

Verification technology exists to help with this process allowing project teams to account for and adapt to unanticipated design variations almost instantly. Yet many construction firms have needed to outsource the equipment and expertise needed to third-party scanning teams, affecting cost and meaning there can often be months between scans.

In reality, for verification technology to be powerful, it needs to be scanning constantly and with the capability to interpret and monitor these scans done by those already on-site.

Fortunately, the advent of new workflow software and technologies means that this is now a reality. With comprehensive manufacturer training, these systems are quick and easy for site engineers to use to identify out of tolerance items in near real-time.

This is a great example of how technology can augment a process, giving those on-site new skills and capabilities, as well as improving cost and job productivity.

A top down approach

While a great example of whats possible when technology, employee training and a change in mindset come together, the benefits of verification technology are currently only being realised on a project by project basis. And this is symptomatic of a wider challenge in our industry: getting full buy in.

As Topcon Positioning Great Britains own research with the Institution of Civil Engineers, Breaking Barriers in Infrastructure in 2018 found, current corporate culture is one of the biggest barriers to the adoption of new technology and working processes, second only to financial implications.

At corporate level, there can be adversity to risk and a belief that change isnt necessary. But if we are to at least catch up with other industries and finally put to bed the critical comments of the 2016 Farmer Review, our industry needs the support of everyone not just those on the ground, or in technology or innovation departments, but those at board level too.

At present, we sit at a huge intersection in our industry. My hope is that as more businesses realise the opportunities and possibilities of technology and as more millennial digital natives move into leadership and management roles, we can build on the successes and momentum achieved at project level, becoming a whole industry that showcases the complementary nature of people power and technology, building smarter and more productively.

[1] Workforce of the future. The competing forces shaping 2030), PwC, 2017

[2] Will robots really steal our jobs? PwC 2018

[3] Ibid

[4] Workforce of the future. The competing forces shaping 2030), PwC, 2017

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IS AUTOMATION A THREAT TO CONSTRUCTION WORKFORCES? - KHL Group

Autonomous robots are in a growing class of devices, consisting of drone aircraft (aerial robots) that can be customized to perform tasks with next to zero human mediation or interaction. They can shift fundamentally in size, functionality, mobility, dexterity, artificial intelligence, and cost, from robotic process automation to flying vehicles with ground-breaking picture and information capturing capacities. Progressively, autonomous robots are programmed with artificial intelligence to perceive and learn from their environment and settle on choices independently.

Autonomous robots are characterizing the supply chain of the future by helping organizations decrease long-term costs, provide labor and utilization stability, increase worker productivity, reduce error rate, reduce the frequency of inventory checks, optimize picking, sorting, storing times and increase access to difficult or dangerous locations.

Robots have a long history of keeping the supply chain moving. Truth be told, one of the worlds first industrial robots was made for the sole purpose behind transferring objects starting with one spot then onto the next. Today, most tasks that are indispensable to the supply chain, similar to the movement of products through a warehouse, rely on robots as standard.

Think about Automated Guided Vehicles (AGVs) for instance. These convenient robots use markers, magnets and vision systems to explore a warehouse floor. The machines can move faster than a human laborer, moving merchandise from one place to another without the requirement for any intercession. Furthermore, they are not confined to the weight limits that a human worker could be fit for lifting.

Autonomous robots are required to see solid development over the following five years, especially within supply chain operations that incorporate lower-value, possibly risky or high-hazard tasks. Autonomous robots have a solid presence as of now in manufacturing, final assembly, and warehousing, for instance. The store chain of the future is probably going to see the continued growth of autonomous robots in these regions, permitting individuals to move to progressively strategic, less dangerous, and higher-value work.

Autonomous robots will be increasingly omnipresent in the store chain of future advances because they work with progressively human-like abilities. For instance, enhancements in haptic sensors, those identifying with the feeling of touch, will permit robots to grasp objects extending from delicate eggshells to multi-surfaced metal assembly parts without changes in programming or robotic components.

As autonomous robots become progressively modern, the arrangement times are diminishing, they require less supervision, and they can work next to each other with their human partners. The advantages are extending as autonomous robots become fit for working independently nonstop with progressively predictable levels of quality and productivity, performing tasks that humans cannot, should not, or do not want to do.

As the market for autonomous robots develops, the end-to-end supply chain operations alignment will turn out to be progressively fluid. Right now, numerous organizations utilize autonomous robots for targeted functions in the supply chain, piloting various robots to verify gains. As imaginative organizations develop and grow operations, robots that build robots could be one of the future trends in the supply chain, turning into the standard for enhancing manufacturing tasks.

Later on, its conceivable that what could be portrayed as the traditional linear conveyor system, or production line, will to a great extent vanish. Its most likely hard to envision that, yet the option as of now being inquired about is fairly intriguing. Research is being led by different organizations into the future of automotive manufacturing, and one situation being explored includes autonomous mobile robots carrying vehicles through the production procedure, starting with robotic cell to another.

One robotic cell may install the electronics system, another put in the motor, at that point another welding the body parts together, and others doing things like get together, painting, etc. This robotic cell-based process may bring about the autonomous mobile robot carrying the vehicle in a wandering manner through the plant, though now, we principally observe a straight production line.

Introducing conveyor systems and a linear production line is more costly than utilizing autonomous mobile robots since its fixed infrastructure costs more to develop. Autonomous mobile robots dont require any fixed infrastructure to be set. Every little thing about them from the machines themselves to their charging points is moveable.

Another large advantage of what might be called the flexible production line including autonomous mobile robots is that it empowers manufacturers to change designs in any way, shape or form. Reasons may incorporate finding and implementing processes that are increasingly effective and changes in product or system design.

Generally, changing a fixed-infrastructure operation includes enormous cost and a great deal of time. It should be included, notwithstanding, that there might be advantages to having a fixed infrastructure that autonomous mobile robot-based system will be unable to beat, speed is one of the biggest. Nonetheless, autonomous mobile robots are getting quicker and greater. Some have payloads moving toward three tons and they may get modular in that robotic arms could be joined to them.

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Growing Importance of Automation and Robotics in Manufacturing & Supply Chains - Analytics Insight

DUBLIN, March 4, 2020 /PRNewswire/ -- The "The US Library Expenditure Market: Size, Trends and Forecasts (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The US library expenditure market has increased at a significant CAGR during the years 2015-2019 and projections are made that the market would rise in the next four years i.e. 2020-2024, tremendously.

The library expenditure market is expected to increase due to an increasing number of academic libraries, rising higher education enrollment, growing higher education research & development (R&D) expenditures, soaring urban population, increasing spending on automation in the library, etc. Yet the market faces some challenges such as budget constraints, availability of open-source software, etc.

The US library expenditure market is highly fragmented with many market players operating in the region. Further, key players of the library expenditure market are Clarivate Analytics PLC, RELX Group (Elsevier), Alphabet Inc. (Google), Cambridge Information Group (ProQuest LLC) are also profiled with their financial information and respective business strategies.

Report Scope

This report provides an in-depth analysis of the US library expenditure market by value, by component, etc. The report also provides a detailed analysis of the US materials library expenditure market by value, by category, etc.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the US library expenditure market has also been forecasted for the period 2020-2024, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

Key Topics Covered

1. Executive Summary

2. Introduction2.1 Library: An Overview2.1.1 Importance of Library2.2 Library Expenditure: An Overview2.2.1 Factors that Affect the library Expenditure2.2.2 Sources of Library Funding2.2.3 List of Colleges & Universities with Library Expenditures2.3 Library Expenditure Segmentation: An Overview2.3.1 Library Expenditure Segmentation by Component

3. The US Market Analysis3.1 The US Library Expenditure Market: An Analysis 3.1.1 The US Library Expenditure Market by Value3.1.2 The US Library Expenditure Market by Component (Materials and Other Expenses)3.2 The US Library Expenditure Market: Component Analysis 3.2.1 The US Materials Library Expenditure Market by Value 3.2.2 The US Materials Library Expenditure Market by Category (Ongoing Subscriptions, One-Time Materials and Other Materials)3.2.3 The US Ongoing Subscriptions Library Expenditure Market by Value3.2.4 The US One-Time Materials Library Expenditure Market by Value3.2.5 The US Other Materials Library Expenditure Market by Value3.2.6 The US Other Expenses Library Expenditure Market by Value

4. Market Dynamics4.1 Growth Drivers4.1.1 Increasing Number of Academic Libraries4.1.2 Rising Higher Education Enrollment4.1.3 Growing Higher Education Research & Development (R&D) Expenditures4.1.4 Soaring Urban Population4.1.5 Increasing Spending on Automation in Library4.2 Challenges4.2.1 Budget Constraint4.2.2 Availability of Open Source Software4.3 Market Trends4.3.1 Rising Libraries' Budget on Digital Materials4.3.2 Escalating Expenditure of Libraries on Virtual Reality

5. Competitive Landscape5.1 The US Library Expenditure Market Players by Product Comparison5.2 The US Library Expenditure Players by Market Share Among Top 500 US Universities

6. Company Profiles(Business & Financial Overview, Business Strategy)6.1 Clarivate Analytics PLC6.2 RELX Group (Elsevier)6.3 Alphabet Inc. (Google)6.4 Cambridge Information Group (ProQuest LLC)

For more information about this report visit https://www.researchandmarkets.com/r/ah9j0m

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United States Library Expenditure Market Outlook to 2024 - Increasing Spending on Automation in Libraries Drives Market Growth - PRNewswire

The global welding equipment market is poised to grow by USD 2.54 billion during 2020-2024, progressing at a CAGR of nearly 5% during the forecast period. Request free sample pages

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200305005298/en/

Technavio has announced its latest market research report titled Global Welding Equipment Market 2020-2024 (Graphic: Business Wire)

Read the 120-page report with TOC on "Welding Equipment Market Analysis Report by End-user (Automotive, Construction, A and D, Shipbuilding, and Others), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".

https://www.technavio.com/report/welding-equipment-market-industry-analysis

The market is driven by the emergence of friction stir welding technology in automotive sector. In addition, the emergence of laser welding equipment is anticipated to boost the growth of the welding equipment market.

The friction stir welding technology is gaining popularity in the automotive industry as it carries out whole process under low operating temperature to prevent mechanical distortion. The products that are manufactured using this technology possess high integrity and are defect-free. This process has varied advantages such as improved mechanical properties, low operating cost, and ability to handle variations in the production process. The use of this technology helps in minimizing the overall weight of the automotive and consumes less power in comparison to welding processes. Thus, the emergence of friction stir welding technology in automotive sector is expected to drive market growth during the forecast period.

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Major Five Welding Equipment Market Companies:

ACRO Automation Systems Inc.

ACRO Automation Systems Inc. operates the business under various segments such as Services, Solutions, and Spare and replacement parts. The company offers Automated Welding Solutions. The company also provides retool and rebuild services, quality assurance process services, customer service and training services, and more.

AMADA HOLDINGS Co. Ltd.

AMADA HOLDINGS Co. Ltd. offers products through the following business units: Metalworking Machinery business and Metal Machine Tools business. The company offers laser welding equipment and resistance spot welding. The company also provides punch presses, press brakes, and laser machines.

Banner Welding Inc.

Banner Welding Inc. operates under various business segments, namely Automation, Standard Resistance Welders Product Line, and Contract manufacturing. The company offers welding equipment such as longitudinal type seam welder, press type roller ram welder, coil joining welder, frame welder, and more.

Colfax Corp.

Colfax Corp. offers products through the following business segments: Air and Gas Handling and Fabrication Technology. The company offers welding equipment under the brand name ESAB. The company also supplies industrial centrifugal and axial fans, ventilation control systems and software, gas compressors, and more.

Fronius International GmbH

Story continues

Fronius International GmbH offers products through the following business segments: PERFECT WELDING, SOLAR ENERGY, and PERFECT CHARGING. Through the PERFECT WELDING, the company offers a wide range of manual and robotic welding equipment. The company also provides automation services, manual welding equipment, and more.

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Welding Equipment Market End-user Outlook (Revenue, USD Billion, 2020-2024)

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Ultrasonic Metal Welding Equipment Market Global Ultrasonic Metal Welding Equipment Market by geography (APAC, Europe, MEA, North America, and South America) and application (mobility, electrical and electronics, and alternate energy).

Arc Welding Robots Market Global Arc Welding Robots Market by geography (APAC, Europe, MEA, North America, and South America) and product (consumable method and non-consumable method).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200305005298/en/

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.com Website: https://www.technavio.com

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Global Welding Equipment Market 2020-2024 | Evolving Opportunities with ACRO Automation Systems Inc. and AMADA HOLDINGS Co. Ltd. | Technavio - Yahoo...

The jobs of the future are highly technology intensive and the combined effort of governments and international organisations must pick up pace to upgrade workers skills, according to one economic research analyst at analytics firm GlobalData.

Kausani Basak, analyst at Global Data says up-skilling workforces is crucial to arrest job losses due to automation across the ASEAN region.

If left unchecked, it has the potential to create severe macroeconomic imbalances, creating both supply and demand chain disruptions, says Baska.

In the high growth ASEAN countries - Cambodia, Indonesia, the Philippines, Thailand and Vietnam - more than 50% jobs are vulnerable due to automation in the long run, and as a result, up-skilling the workforce becomes a pre-requisite for strong, sustained and balanced growth of the economy.

GlobalData says the traditional educational and training institutes are yet to adopt according to the changing times, leading to a huge skill mismatch in these countries, and consequently, the structural unemployment in countries such as Cambodia, Indonesia and Vietnam has been rising.

The labor market in countries such as Indonesia and Vietnam are already facing heat from high unemployment among people with basic education, says Basak.

On the other hand, these countries also have a huge working age population, thus further adding to the issues.

GlobalData says hotels and restaurants, wholesale and retail trade and construction and manufacturing are the sectors which are particularly staring at the risk of job losses due to automation.

More specifically, hundreds of thousands of sowing machine operators in Cambodias garment manufacturing, millions of shop sales assistants and office clerks in Thailand and Indonesia, respectively, are expected to experience high volume of job losses, Global Data says.

According to GlobalData, the emerging new occupations that are replacing the old ones require up-graded skills that will deepen their competencies and enhance career prospects.

GlobalData says that in the recent years, there has been a rising concern among the governments to reduce the skills mismatch and as a result they have taken some preliminary steps towards increasing the technological education penetration and re-designing the existing curriculum.

Countries such as Singapore, Thailand and Indonesia have been substantially emphasising on the skill development of workers. However, these measures are not providing enough support so as to integrate the workers into the labor force seamlessly.

Nevertheless, positive re-enforcements have started appearing in the region as multinational employers are driving the up-skilling and training initiatives. In November 2018, the World Economic Forum along with top tech companies pledged to develop technological skills for the employees of the ASEAN countries by 2020 through ASEAN Digital Skills Vision 2020.

As of August 2019, more than US$4.4m was raised for providing scholarships to tech students and about 9 million SME workers were trained across the ASEAN.

In March 2019, JP Morgan announced plans to invest US$350m for a period of five years worldwide to up-skill employees. In October 2019, Microsoft announced partnership with Grab and universities in South East Asia to facilitate industry relevant technological learning through hackathons and internships, GlobalData concludes.

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Need to upgrade worker skills to cope with automation, tech intensive jobs of future, says analyst - iTWire

WARSAW, March 4 (Reuters) - Polands largest clothing retailer LPP plans to invest in logistics and automation and may increase prices in a bid to improve margins and combat higher labour costs, the companys deputy head said.

Polands ruling nationalist Law and Justice (PiS) party plans to increase the minimum monthly wage to 4,000 zlotys ($1,038.07) by the end of 2023, almost double its 2019 level, starting with a rise of over 15% to 2,600 zlotys in 2020. Polands economic growth of around 3% is adding to wage pressure.

I do not want to say that the minimum wage increase will result in higher prices, but we are thinking how to introduce new, nicer, better products and adjust prices to them, Przemyslaw Lutkiewicz told Reuters.

On the one hand, the minimum wage increase affects salary costs. On the other hand, we hope that customers will have more and more cash to spend, which translates into sales, especially in smaller towns, hence our strategy of entering smaller cities, he added.

In February LPP, a home-grown Polish rival to international retailers such as H&M and Inditex, said it plans to open more shops in smaller towns, saying that in larger ones consumers were more aware of the effect of the fashion industry on the environment and were buying less.

We have a chance to reach 10.5 billion zlotys ($2.73 billion) revenues this year, especially taking into account the 16% increase in retail space (rented by LPP) planned for 2020, positive like-for-like changes and further growth of the internet (sales), Lutkiewicz said.

Lutkiewicz said that margin improvement will be possible thanks to the implementation of radio frequency identification (RFID) chips attached to clothes stored in warehouses which allow the company to track stock better, and a cut in logistics costs thanks to further automation should also help.

Lutkiewicz said that risks that its Chinese-made products wont be delivered on time due to the coronavirus outbreak have already diminished as shipments from Chinese ports have resumed and factories were expected to restart.

$1 = 3.8533 zlotysReporting by Anna Koper; Editing by Elaine Hardcastle

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Poland's top clothing retailer invests in automation, logistics as higher wages bite - Reuters

Getting big returns from financial portfolios, whether through stocks, bonds, ETFs, other securities, or a combination of all, is an investor's dream. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.

Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the current stock price. Many academic studies show that dividends account for significant portions of long-term returns, with dividend contributions exceeding one-third of total returns in many cases.

Rockwell Automation in Focus

Based in Milwaukee, Rockwell Automation (ROK) is in the Industrial Products sector, and so far this year, shares have seen a price change of -9.24%. The industrial equipment and software maker is paying out a dividend of $1.02 per share at the moment, with a dividend yield of 2.22% compared to the Industrial Automation and Robotics industry's yield of 0.65% and the S&P 500's yield of 2.04%.

In terms of dividend growth, the company's current annualized dividend of $4.08 is up 5.2% from last year. Over the last 5 years, Rockwell Automation has increased its dividend 5 times on a year-over-year basis for an average annual increase of 10.41%. Future dividend growth will depend on earnings growth as well as payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Rockwell Automation's current payout ratio is 48%. This means it paid out 48% of its trailing 12-month EPS as dividend.

Looking at this fiscal year, ROK expects solid earnings growth. The Zacks Consensus Estimate for 2020 is $8.92 per share, with earnings expected to increase 2.88% from the year ago period.

Bottom Line

Investors like dividends for many reasons; they greatly improve stock investing profits, decrease overall portfolio risk, and carry tax advantages, among others. It's important to keep in mind that not all companies provide a quarterly payout.

Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, ROK is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of 3 (Hold).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free reportRockwell Automation, Inc. (ROK) : Free Stock Analysis ReportTo read this article on Zacks.com click here.

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This is Why Rockwell Automation (ROK) is a Great Dividend Stock - Yahoo Finance

International Data Corporation (IDC) the premier global market intelligence firm, predicts that between 2018 and 2021, companies worldwide will have collectively spent nearly $6trn on digital transformation initiatives. And, according to Krishnan Ramanujam, president of business and technology services for Tata Consultancy Services (TCS), a global IT services, consulting, and business solutions organisation: CFOs, along with their counterparts in strategy and technology, can play a major role in determining which models may be economically viable for their firms, now and in the future.

CFOs will have numerous sizable internal funding requests fall on their desks and they cant be blamed for playing the devils advocate since they argue to help determine the validity of any digital transformation project. But their primary role as a digital CFO will be transforming their own department.

According to AccenturesFinance 2020report, automation will eliminate up to 40 percent of the transactional accounting work the finance department does today.Terry Walby, founder of Thoughtonomy, a software company with multi-award winning automation technology platform, reiterates the CFOs critical approach: As the project sponsor, the CFO needs to be comfortable building a business case, willing to take input from other departments and to spend the time to fully understand processes at a granular level.

A study undertaken by Compleat How tech is changing the role of finance, found that 51 percent of workers within UK businesses have rushed to implement new financial technology in the past couple of years, citing the UK Governments Making Tax Digital (MTD) initiative as a key driver.

Researchers at Gartner conducted interviews with 150+ corporate controllers, chief accounting officers, and chief accounting leaders to study about the benefits automation could pose for businesses. One of the highlights from the study was that the average amount of avoidable rework in accounting departments can take up to 30 percent of a full-time employees time. If fully implemented, automation can save upward of 25,000 hours per year and close to 675,000.

According to The dawn of a new partnership: A robotics-led finance function by EY, automating manual processes with little subjective judgment like data input and output, reconciliation, data quality management, reporting, and dashboard and business rules can reduce man-hours between 20 percent-80 percent.

The use of automation in finance can drive efficiencies by reducing human error. It helps in freeing up the finance team to refocus on more strategic work. By using automation, the finance function can accurately forecast, which means that the business can make more real-time decisions as opposed to just playing catch-up. The CFO can start to get more predictions from the accounting department and that can result in better business outcomes.

Back in 2018, Spanish football club RCD Espanyol automated its financial processes and according to their finance director Joan Fit: The finance team has become infinitely more flexible since making use of the automation features, with productivity going up by more than 20 percent, reporting time reduced by 50 percent and errors reduced by over 25 percent. The team can instead focus on using Club information, analysing it in real-time to become more strategic in its effort to become a globally-recognised name in the world of football.

Tim Leger, SVP business process automation and transformation at Sutherland Global Services said in an article on Financial Director: The future of digital finance is intelligent automation and RPA is yesterdays news. As organisations have embraced robotic process automation (RPA), it has become a single, commodity tool in the larger automation toolbox no longer at the centre of transformation and synonymous with process automation.

It is difficult to associate a cost in terms of price for finance function automation. It depends on the kind of project, the scale of it, size of the company and several other factors. Understanding and explaining the actual costs associated with deploying finance automation are tough since they are quite different from an industrial robot.

According to a blog on DocuPhase, business automation tools can start at 23 a month for 0-10 employees, and rise from there. Typically, automation in the finance function starts from accounting tasks. This article in Accountancy Age gives a good idea of the pricing of the best online accounting software in the UK. Business analysis tools, such as ActiveOps, StereoLOGIC or Celonis compare the short-term costs of using automation over the next two to five years versus a finance software tool.

However, the real cost of automation in the finance function is beyond the project implementation cost and the price of the software or the technology. Here are considerations that CFOs must make while deciding on implementing automation projects.

As in accounting terms, make or buy analysis needs to be conducted to check the feasibility of both making an automation software in-housing or buying/getting it developed from external providers. The analysis will help in highlighting the costs and benefits associated with either of the decision.

The success of the automation initiative depends on its integration with existing business applications and hardware.

Keeping business continuity in mind, the implementation of the automation project needs to consider the current and the proposed architecture, hardware and IT infrastructure on priority. Over dependencies on the current set up can create an outage that can have a significant business impact post-implementation.

While its easy to get caught up focusing on the commercial rationale, the success of the automation project depends on the willingness and participation of the staff involved not just in its implementation, but also in using it.

Another outcome of automation, which might be a potential notional cost at least for the CFOs, is the perceived threat of machine taking over humans. CFOs, as leaders of the finance function, need to keep viable streams ready to deploy the members of the team whose tasks have been cut short. Automation will inevitably lead to changes in organisational structures and redefined roles, if not layoffs. Amazon recently said it would spend close to 540m ($700m) to retrain 100,000 employees to perform new jobs made possible by AI and robots.

CFOs could come up with plans like financial planning and analysis personnel getting deployed to support the business closely than before and tax specialists refocusing to maximize after-tax income for the business.

Automated processes require oversight to make sure they are operating properly. Hence monitoring is necessary to make sure that the process is being operated and yielding results as per its objectives. Automation software is like middleware in the sense that someone needs to support and maintain the programs on an ongoing basis.

The cost of upgrading the automation software must be considered specifically, for regression testing and possibly re-implementing required to take advantage of new features or changes in features.

Automation, once up and running can appear magical. But, just like the magic shows seen on stage, theres more to it than what meets the eye. Automation software are typically rule-based systems that need creating rules, basically if statements, that are fed and followed.

It is vital to accept that automation cant handle irregular or highly complex processes, make decisions, fix broken processes, self-correct, and thus cant replace the human team. When businesses attribute the abilities of automation to magic, the spell can soon break down.

Andrew Spanyi, the author of four books on process management, says: RPA does not redesign anything. It doesnt ask whether we need to do this activity at all. It operates at the task level and not the end-to-end process level.

The adoption of emerging technologies like automation in the finance function during the next decade is going to change the role of the CFO. As per Accentures estimates based on insights from market analysis, cross-functional integrated teams will deliver 80 percent of traditional finance services.

As a business case to CFOs, automation contributes to both, the top as well the bottom line by not only replacing time-intensive, low-value and backward-looking accounting tasks but also enabling finance teams to spend more of their time on high-value, forward-looking business building and in-turn making them companys most important competitive advantages.

By saying yes to automation, CFOs can position the finance function as a strategic partner and in turn secure their own positions on the board and get closer to the CEO. But they deserve to be provided with a strong business case.

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Cost of automation for the cynical CFO - Financial Director

A few observations about Amazons attempt to upgrade the 7-Eleven concept:

1. I visited four Go locations (the fifth one was closed for remodeling), and tried to trick the system with no success. You enter and leave through a turnstile. You use an Amazon phone app to check in and tell the store youre beginning to shop. Cameras mounted in the ceiling follow the outline of your body theyre not using facial recognition to see what youre putting into a bag and leaving with. Weight sensors built into the shelves can tell when an item is removed or put back. Would I be mistakenly charged if I picked up lots of items and the put them back in their proper locations? Nope. What if I picked up a few items and put them into a nearby slot, rather than where they were supposed to go? Nope. What if I brought in a bottle of water thatd Id acquired elsewhere, put it on a shelf with other bottled waters, and then removed it? Still no charge. I thought about opening a bag of chips, eating a few, and then leaving it in the store, but that seemed like going a tad too far.

2. You really have to trust that the system will charge you properly, because you cant see a running tally while in the store, or even after exiting through the turnstiles. You get an alert on your phone about eight to 10 minutes after your visit and can access the receipt in the Go app. A few hours later, a receipt is e-mailed. But as I mentioned, there were zero mistakes in four store visits, even though I was trying to fool the system.

3. There are no Slurpees, Slush Puppies, milkshakes, or other frozen beverages. Amazon Go feels like a convenience store designed in the healthy mold of Whole Foods, which Amazon acquired in 2017. Youll find plastic packs of cut cantaloupe, salmon sesame power bowls, Seventh Generation recycled paper towels, and La Croix sparkling waters but not a lot of roadside standards like lottery tickets, cigarettes, or six flavors of M&Ms.

4. A surprising number of items in each store were out of stock. A brown sign reading So good its gone! could be seen all over the place. Was Amazon having problems with its supply chain? Is the company opting not to restock certain items? According to an e-mailed statement from the company, The selection available at any given time in our Amazon Go stores can vary depending on a number of factors, such as busy meal times, store hours, deliveries and more... We always strive to offer customers the products theyre looking for when shopping with us, and we continue to use customer feedback to improve the Amazon Go experience.

5. Unlike 7-Elevens, Amazon Go stores have pretty short hours. The earliest the San Francisco stores open is 7 a.m., and the latest they close is 9 p.m. Theyre not unattended; in each store, I saw one or two employees unpacking merchandise or waiting to help customers. This isnt a giant vending machine that sells ice cream and Oreos.

6. Just like nontech companies that operate convenience stores, Amazon has a hard time keeping everything shipshape. I encountered an out-of-service restroom, a broken entry door, and counters that needed cleaning. (Maintenance bots must still be under development.) For comparison, I walked across Market Street to drop in on a 7-Eleven, and found broken soda dispensers and out-of-stock items there, too. The 7-Eleven also had two clerks working cash registers and a bit of a line of customers waiting to pay.

7. Amazon doesnt seem to be resting on its laurels by simply rolling out more stores with technology it has already created. The company continues to hire scientists, engineers, and product managers for the team working on Go in Westborough; there are 11 job openings currently listed. Amazon says the new hires will join an Advanced Projects Group developing new technologies that go well beyond the current state of the art. The group is run by an MIT alum, Jeremy De Bonet.

8. Amazon hasnt announced any plans to open Go stores in Massachusetts. (It operates about two dozen in Chicago, New York, Seattle, and San Francisco.) Jon Hurst, president of the Retailers Association of Massachusetts, hypothesized that one reason might be that our state has a law requiring retailers to accept cash and Amazon Go is designed around the idea that you store a credit card number on a mobile app. But a friendly Amazon clerk told me she could grant a customer without a smartphone access to the store, and roll out a special cash cart if someone insisted on paying with old-fashioned paper money. That apparently happens a couple of times a day usually tourists, I was told.

9. I didnt observe ways that Amazon is saving dramatically on the human labor required to run a convenience store. And while just walking out with no waiting was novel, there were so few people shopping in the stores I visited, and such a limited number of items available, that even with cash registers I wouldnt have expected queues. But both things could change as Amazon starts operating full-line grocery stores or pharmacies. The company is clearly still in the invest, test, and learn phase with its retail automation technology, and as weve seen, once it figures out something that is economically viable, it rolls it out in a major way.

The big upgrade that seemed to be surfacing in San Francisco last month was the ability of the Go stores to sell cups of self-serve hot coffee something that automats figured out how to do around 1902.

Scott Kirsner can be reached at kirsner@pobox.com. Follow him on Twitter @ScottKirsner

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On a mission to fool Amazons automated convenience stores - The Boston Globe