Monthly Archives: June 2021

Editors note: This is a sponsored article, which means it is independently written by our editorial team but financially supported by another organisation, in this case, UiPath. If you would like to learn more about sponsored posts on Tech.eu, read this and contact us if you are interested inpartnering with us.

Enterprise automation software firm UiPath recently launched the third edition of its annual UiPath Automation Awards, a competition designed to champion the most promising startups and scale-ups in the field of enterprise software automation, where the Romania-born company has made its own mark over the years.

Zooming in on Central and Eastern Europe region and Turkey, UiPath is on the hunt for interesting B2B software automation companies to enter its awards competition before the September 1 deadline. The mission of the UiPath Automation Awards 2021 is to enable the further development of creative business ideas and 'foster the capacity to scale early-stage companies and entrepreneurial ventures from those regions'.

Ultimately, UiPath aims to leverage its annual competition to help identify the next generation of technologies and products that can have a global impact and 'revolutionise the larger ecosystem of automation solutions'.

There are two categories for entry, targeting both enterprise automation software startups and scale-ups. You can read more about the requirements for each, and submit your application, right over here.

Last year, the top startup and scale-up awards were snatched by Romania's Neurolabs, and a Poland-based scale-up called Salesbook, respectively.

"Winning the UiPath Automation Awards has fast-forwarded our entrance and advancement into the automation space. The external recognition we received from winning this prize, combined with the hands-on, expert guidance from various UiPath teams, propelled our business forward and helped us navigate what until recently had been new territory for us," said Paul Pop, co-founder and CEO of Neurolabs, about what the competition has meant for his company.

Dariusz Nawojczyk, CMO of Salesbook, said: "Winning the UiPath Automation Awards reminded us that it is worth taking every risk while thinking about your start-up idea and that hard work will eventually pay off. The competition is a great launchpad for scale-ups in the CEE &Turkey that want to scale beyond the region. I encourage everyone to take part in the UiPath Automation Awards 2021 you will have a great chance to test your ideas, your product, and your resilience, and that will already make you a winner."

Itself founded out of a small apartment in Bucharest back in 2005, UiPath will help the victorious companies level up. The company will provide the winners in the startup category of the UiPath Automation Awards with mentorship, a 50,000 cash prize, and substantial tech and marketing support over a period of 12 months.

The scale-up category winners will receive C- level mentorship, sales and marketing support, including the opportunity to present the winning technology to UiPath global clients, and have their winning solutions featured in the UiPath Immersion Lab.

Vargha Moayed, Chief Strategy Officer at UiPath, said: "We know the triumphs and challenges that young companies encounter as they evolve and innovate. Given the fast pace of innovation in software automation and the technologys huge yet untapped potential to make the world a better place, we are highly motivated and committed to help emerging players in the space to reach their full potential and scale globally."

UiPath has been organising the competition in various places: the first edition in 2019 was held in its hometown of Bucharest, and last year's edition obviously took place online. Now, they're going hybrid!

Tech.eu is partnering with UiPath to help stage the competition at the upcoming edition of Wolves Summit, which will take place both online and physically in Wroclaw (Poland), on the 20th of October 2021.

"As a testament to our team's relentless determination over the last 12 months, we feel both honoured and excited to host the UiPath Automation Awards 2021 edition online and in-person in Wroclaw, one of the largest AI hubs in Poland. We are happy to be able to provide the platform and tangible support to UiPath to select the next automation champions in the CEE and Turkey," said Michael Chaffe, CEO of Wolves Summit.

"At Wolves Summit we strive to support the growth of the CEE innovation ecosystem, and we know we can best achieve this by partnering with forward-thinking organisations and individuals sharing our mission," he added.

To clarify, startups and scale-ups from the following countries can apply for the awards: Albania, Belarus, Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, Malta, Moldova, Poland, Romania, the Slovak Republic, Slovenia, Ukraine, Serbia, Montenegro, and Turkey.

Applications for the UiPath Automation Awards 2021 can be submitted here; you have time until the 1st of September to toss your hat into the ring.

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Hunting for more innovators in the software automation space: Kicking off the third annual UiPath Automation Awards - Tech.eu

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The relationship between humans and robots will soon deepen, thanks to affective computing, the overarching term for the study, technologies and development of systems that identify, process, and simulate human feelings and emotions. Today we have rudimentary capabilities in software and hardware to perform sensory responses within given environments. As robots are taught how to respond to human emotions, and as engineers abstract lessons from human evolution about how people see, move, balance, hear, and feel, we will be able to better understand how cognition works. The sensing abilities of robots will evolve, and automation ecosystems will expand.

These advancements mean that automation ecosystems currently operating in controlled environments, such as a factory floor or a space satellite, will be adaptable to more chaotic and unpredictable environments think autonomous vehicles driving on busy city streets, or humanoid robots helping the disabled navigate crowded sidewalks. This expansion of the automation continuum, which involves many different players, rapidly evolving technologies and reams of data, comes with many challenges.

The McKinsey Simplification ModelTo facilitate automation adoption, value, and further growth, McKinsey, the global management consulting firm, has developed a model that synthesizes industry recommendations into a single concept simplification in three essential areas.

Simpler to ApplyRobot developers and integrators need to make it easier for potential end users to envision compelling scenarios. Simplification in this realm could mean something as basic as providing software that closes the gap between conceivability and installation, helping end users prove their design concepts before committing to a final investment.

A prime example comes from ABB Robotics, where visitors to the companys website are given access to a build-your-own cobot application. Working with intuitive menus, users can browse for functions they need, with options including part handling, screwdriving, visual inspection, and tell us more. Users go on to select how the cobot picks up parts and puts them down; where its vision sensors are placed; what communications protocols are used; and whether the cobot will be mounted on a wall, table, or ceiling. Illustrations clarify the choices throughout. Once completed, the program evaluates the selections, then delivers a customized video simulation of how the cobot, fully installed, would perform.

In short, the robots have access to more data for analysis and decision-making. Then edge computing opens the door for even more intimate collaborations between machines and between man and machine.

Simpler to ConnectMcKinsey advises that robot manufacturers need to deliver secure, flexible connectivity. A key goal is to achieve interoperability. The robots should be able to readily connect not only with other robots but also with the full range of intelligent systems, edge, cloud, analytics, and similar tools and devices.

Cobots rely on multiple sensors and tools such as AI to make sense of and operate safely in the world around them. Simultaneously, the environment it is installed in, or traveling through, will feature multiple sensor-intensive intelligent devices. The challenge is that IoT and robotics technology are often considered separate fields. Thus the synergies across the two disciplines go unexplored. But reimagined together, IoT and industrial robotics become the Internet of Robotic Things, or IoRT.

To date, robotics and IoT have been driven by varying yet highly related objectives. IoT focuses on supporting services for pervasive sensing, monitoring, and tracking, while the robotics community focuses on production, action, interaction, and autonomous behavior. By fusing the two fields, the resulting wider-scale digital presence means intelligent sensor and data analytics are feeding better situational awareness information to robots, which means they can better execute their tasks. In short, the robots have access to more data for analysis and decision-making. Then edge computing opens the door for even more intimate collaborations between machines and between man and machine.

Simpler to RunParadoxically, as robots become ever more sophisticated, capable, and flexible, the effort required by end users to train them often declines. Leading manufacturers understand that shortening the learning cycle is an important means of elevating the appeal of industrial robots.

Companies like Fanuc harness AI and related technologies to accelerate teaching and learning processes. Similarly, Locus Robotics advertises warehouse robots that are so easy to train they can be deployed in just four weeks. Interfaces and tools that drive robotic learning are becoming simpler, clearer, and more efficient for end users. Such improvements are a key focus across the industry.

ConclusionThe cognitive capabilities of robots are already becoming indispensable as the COVID-19 pandemic revealed an urgent need to create more resilient supply chains and protect human workers. The business implications of the new intelligent systems world mean that the dynamics for decision-making in robotic systems are evolving rapidly. What we might once have seen as incremental steps now become opportunities for transformation.

To date, the robotics and IoT communities have been driven by varying, yet highly related objectives. IoT focuses on services for pervasive sensing, monitoring, and tracking, while the robotics community focuses on production action, interaction, and autonomous behavior. Fusing both fields leads to better robotics task execution. The robots have more data for analysis and AI enabled decision-making. In this way, edge computing opens the door for even closer collaboration between man and machine.

About the Author

Michel Chabroux, Senior Director, Product Management, Wind River

Michel Chabroux is responsible for the Product Management team driving technology and business strategies for Wind Rivers runtime environments, including the VxWorks and Wind River Linux families of products. He has more than 20 years of industry experience including roles in technical sales, support, training and product management. Prior to joining Wind River, he was a consultant in Business Management and Information Systems working with a variety of clients. He holds a Masters degree in Computer Science Applied to Business Administration from Universite de Lorraine.

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Incorporating Robots Into the Automation Continuum - Robotics Business Review

Instacart has big plans to automate parts of its grocery delivery business, reports Bloomberg, but the companys schemes look as much like bluster as ambition.

Bloomberg details a plan for the gig-work grocery-delivery network to build automated fulfillment centers around the US, where hundreds of robots would fetch boxes of cereal and cans of soup while humans gather produce and deli products. Some centers would be built next to grocery stores while others would be standalone operations. Instacart would partner with a supermarket chain to handle inventory, contract out the automation side of things to a robotics firm, and take care of processing orders and deliveries itself. If it works, the system would automate out huge portions of the companys freelance workforce.

It doesnt seem like Instacart is making much progress, though. Bloomberg notes that although the company has been working on these plans for more than a year, it has yet to sign up a single supermarket chain and has fallen behind schedule in developing its fulfillment centers. Meanwhile, another report from the Financial Times in February suggested the company planned to open as many as 50 centers in about a year. The clock is definitely ticking on that.

There are certainly real reasons Instacart would want to automate. The companys current business model relies on paying hundreds of thousands of gig workers to do customers shopping for them. This approach has found plenty of customers as its convenient and allows supermarkets to offer online shopping and delivery without creating their own service.

But this setup has problems, too. As Bloomberg notes, shopping with Instacart is expensive. The companys delivery fees, tips, and markups add 25 percent to order costs, according to data from consulting firm MWPVL International Inc. Another source of tension is that supermarkets dont want Instacart stealing their business in the long run. Theyve been happy to partner with the company when they had no other way to offer online shopping and delivery, but thats changing, says Bloomberg, with new options for delivery offered by startups and existing food delivery businesses expanding their reach.

Both of these factors put pressure on Instacart, and thats particularly bad at a time when the firm wants to go public, either through a direct listing or an IPO (originally rumored for early this year and now reportedly pushed back to the end of 2021). Making big plans to automate its business seems like a way of allaying some of these pressures giving investors hope that the company can lower costs and find a new way to work with supermarkets.

Certainly, automating grocery shopping is not out of the question in the long term. Grocery firm Ocado, for example, has huge operations that use both robots and humans to pack orders and is partnering with chains in the US that want to leverage that tech. But using robots in this way is still in its infancy: it requires huge investment and patience to work out the kinks and cant just be tacked onto a business.

Meanwhile, its not clear how sustainable Instacarts current business really is. As a private firm, we dont know how much money its making or losing, but The Information reported that it only made its first profit in early 2020 thanks to booming pandemic sales. Meanwhile, the company has been repeatedly accused of exploiting its workforce in an unsustainable manner, particularly during the pandemic.

Overall, the situation feels similar to that of Uber, where the company repeatedly promised that its loss-making, gig economy business would become sustainable when it developed self-driving cars to replace all those pesky humans. And we all know how that ended: the taxi firm sold its self-driving team in December last year.

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Instacarts reported plan to automate its workforce seems a lot like bluster - The Verge

Automation in the legal industry is becoming increasingly common. Still, theres plenty of confusion and even a little mystery surrounding the topic. In this webinar, Womble Bond Dickinsons US Knowledge Management team members will share their thoughts on everyday automation and how they incorporate Neotas app-development platform into existing processes successfully.

The key takeaways from this webinar:

Neota Logic will join Womble Bond Dickinson to expand on the benefits of using their app development platform in a law firm setting.

This webinar will be hosted alongside ILTA.

Speakers:

Jonathan Jochem Director, Markets & Growth, Americas Neota Logic

Before joining Neota Logic, Jonathan has spent 24 years teaching, consulting, and selling for legal technology companies. First, with ProLaw Software that Thomson Reuters later acquired, he automated corporate legal departments and government agencies. During his time with Thomson Reuters, Jonathan worked with hundreds of clients to improve their legal software systems, including the California Department of Justice and Farmers Insurance. More recently, he worked with startup legal technology companies to introduce platform as a service (PaaS) solutions into corporate legal and government organizations.

Stephen Chan Director of Knowledge Solutions Womble Bond Dickinson

Stephen collaborates with lawyers, IT professionals, and vendors to design systems that help our attorneys work smarter and more efficiently. His professional background includes working as a paralegal, an attorney, and a librarian at Campbell University School of Law. Stephen holds masters degrees in Library Science and Educational Media and a Juris Doctorate degree from the UNH Franklin Pierce School of Law.

Melanie Segreaves Solutions Analyst Womble Bond Dickinson

As a solutions analyst on Womble Bond Dickinsons KM Team, Melanie works in the trenches with attorneys and staff to automate a wide range of tasks essential to firm business. She has played an integral role in expanding the use of Neota Logic and was responsible for several firm-wide applications deployed in response to the COVID-19 pandemic. Melanie is a former member of the firms Client Development department and brings over 15 years of sales and marketing experience to the KM Team.

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[Webinar] Everyday automation and the route forward No Robots Required - June 16th, 11:00 am - 12:00 pm ET - JD Supra

As we begin to see some light at the end of the tunnel of the COVID-19 pandemic with the development of vaccines and reopening of restaurants, bars and taprooms, for brewers, it might feel just as challenging as it does exciting. Prior to the pandemic, as craft brewing gained momentum and craft beers gained popularity, brewers were already facing a number of hurdles conserving resources and ensuring a consistent product in the face of growing competition among them.

As we start to bounce back from the heavy impact the pandemic had on the craft brewing industry, consistency remains a challenge, along with others: cost savings, sustainability initiatives and the aluminum shortage. If youre in the brewing industry, juggling all of these issues likely seems nothing short of overwhelming. But, by approaching them strategically and creating efficiencies in your breweries, you can come out ahead and focus on what matters most: your product.

Automation is one way to save time, money and resources, and its not reserved solely for large breweries. There are simple, cost-effective changes that small and large brewers alike can make to save on resources and work toward sustainability goals.

Theres a reason why larger breweries have automated the majority of their processes, from brewing to sanitation to packaging. Automation helps dial in chemical concentrations, conductivity probes and titration, minimizing waste and providing the exact amount of chemistry, water and resources a brewer needs to produce their product. This precision creates significant savings in water usage, chemical usage and labor, as well as improve safety and help make a remarkably consistent product, meaning brewers not only have a much more efficient process, but a higher level of quality control.

Some breweries have automated brewing processes, but some still rely on manual labor for cleaning and sanitation or may not have automated any processes yet. However, concerns around the environment, COVID-19 and product quality make automation perhaps even more beneficial to brewers than in the early days of craft brewing.

Here are some areas where automation can help control and reduce.

1. Water usage

According to Statista, there are now nearly 8,800 breweries in the United States, and the average brewer uses seven barrels of water to every barrel of beer produced (Brewers Association). Thats an enormous amount of water, regardless of the number of barrels of beer you produce for example, if you produce 5,000 gallons of beer per year, thats 35,000 gallons of water, while the most efficient (often automated) processes use a much lower ratio of water used to beer produced (e.g., 4:1). 7:1 is not only a lot of wasted water but also a lot of wasted money as well literally going down the drain.

Coupled with the heavy usage of water is an increasing concern about phosphorus pollution. With many cleaning chemicals containing phosphates and an increase in sanitation following the COVID-19 pandemic local municipalities are tightening regulations on wastewater to help curb phosphorus pollution and prevent algae blooms or threats to wildlife and the environment. That means breweries may need to reevaluate the sanitation chemistries theyre using or reduce water usage to avoid fines and a negative impact on the environment.

Automation helps brewers mitigate these issues by controlling the amount of water used in brewing and cleaning processes. Because automated systems use the proper amount of water required nothing more, nothing less automation creates consistency and helps brewers avoid using excess water. Automation will ultimately help you minimize water consumption at your brewery, which in turn will help you ensure a consistent product and avoid unnecessary costs and negative impacts on the environment.

Do you love brewing equipment? Ok, thats a little weird, but its cool. We get it. Dig all these stories on brewing equipment. Get sick with it!

2. Chemical use

Automated systems work to control chemical usage in the same way as they do water and remove human error from the sanitation process. Automated equipment helps achieve the right chemical concentrations, which can end up saving large amounts of chemical (as well as water). Theres a perception that using more cleaning chemicals or higher concentrations will result in better sanitation. However, chemistries that are too concentrated or over-applied will require an increase in rinse water. This increase potentially exposes the surface to more bacteria and can negatively affect the quality and flavor of the end product, while wasting both chemicals and water. Automation will dispense the correct amount of chemicals every time, whereas the concentrations will likely vary even mixed by the most careful human worker and have the possibility of spillage.

3. Energy consumption

Like water and chemical usage, automation also allows brewers to dial in energy consumption and temperature control. In some systems, brewers can even adjust and monitor temperatures remotely, helping to ensure accuracy and consistency, while also saving energy. Consistency in the temperature during the brewing process is particularly important, not only for the product, but also in saving natural gas 45 percent of a brewerys natural gas consumption comes in brewing itself, and thermal sources average 70 percent of the energy consumed in the brewery, accounting for 30 percent of the total energy cost, according to the Brewers Association.

While we tend to see energy as an expense we cant control, like the Brewers Association writes, breweries that do not pay attention to the opportunities at all levels of their operations may miss out on potential cost saving and revenue generating measures. Temperature control during brewing is certainly one of those measures and is easy to implement and efficient in practice.

Its no secret that automated equipment can be an upfront investment, and its not always one thats immediately feasible depending on the size of the brewery. Automating routine processes like cleaning-in-place (CIP) or other sanitation practices is a cost-effective way to start seeing a return on investment more immediately. Sanitation equipment like high efficiency pumps, foamers and dispensing units provide the exact amount and concentration of chemical needed with a smaller investment. Brewers looking for long-term solutions or more significant water and chemical savings can look into centralized and decentralized automation systems. These more complex systems not only offer chemical and water precision but can also be accessed remotely and provide reports for higher accuracy.

If you havent yet considered automation or are just starting to, now is the time to review your brewerys processes and where you can start saving. After industry-wide disruption, were at an important crossroads. We can return to previously existing norms, create new ones, or fall somewhere in between. Automation gives us the opportunity to innovate within our practices, overcome monumental challenges, and reinvent the industry regardless of how many barrels we produce.

George Allen is the business development director of brewing and distilling at Birko.

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Brew smarter using increased automation, for water usage to cleaning and dispensing processes - Craft Brewing Business

As an industry, we are continuing to learn from our collective experience with COVID-19, which raised awareness of everything from the hidden vulnerabilities of the supply chain to the importance of having the right mix of forklifts for your operations.

For many, the pandemic has also increased interest in automated material handling equipment as a way to reduce labor costs, increase throughput, enhance facility flexibility and generate operational savings.

The number of supply chain professionals who question whether automation technology has yet to become a viable option is shrinking. Numerous successful projects and applications across the industry have shown that there can be benefits to incorporating certain types of automation into warehouses and distribution centers.

The question is no longer should we implement automation technology? but rather where or how should we start?

Supply chain managers are often presented with case studies showing new, fully automated facilities that can make it feel like the technology is still somewhat out of reach for those with manual operations. Building a new, completely automated facility may not be possible in the short term. The significant upfront investment and infrastructure requirements of a fully automated approach typically involve long-term strategic planning and preparation.

So, if youre one of the supply chain managers trying to determine which automation strategy and technologies are right for your operation, what should you do? You can start by ensuring you have the right mix of automated and manual processes that can help position your operation for consistent performance enhanced by productivity gains. The mix will depend on your priorities, operations and business objectives.

The data gathered from a telematics system, such as a forklift fleet and operator management system, can help you identify those tasks and equipment that are ideal candidates for automation. Prioritize those opportunities based on metrics that make sense for your business and develop a clear path for tangible ROI. Having the right data enables you to quickly and strategically grow and evolve your automation efforts, adding diversity and flexibility to your forklift fleet.

A flexible automation solution gaining a lot of attention is dual mode technology that enables both automated and manual operation.

Dual mode technology enables warehouses to take an incremental approach to deploying automation solutions with minimal or no supporting systems or infrastructure. It can be an ideal approach for companies that may not have a warehouse management system (WMS), but would still like to realize benefits from automation technology. Some operations that utilize a WMS that may have avoided automation because they experience a small percentage of process exceptions can leverage dual mode vehicles to implement automation while retaining manual operation to help manage these exceptions.

Forklifts with dual mode automation technology are capable of switching between manual and automated operations, depending on the needs of the facility. The technology is based on automated equipment that can be operated manually; it is not a piece of manual equipment that has been engineered to operate autonomously. The equipments automation features are fully integrated into the vehicle as they typically are in a fully autonomous vehicle. The difference is that the dual mode technology allows the equipment to be used as any other manual equipment would be used when the application calls for it.

For instance, consider a tow tractor used to pull carts on a prescribed mission from point A to point B in a facility, with material being loaded and unloaded at each point. Using a tow tractor with dual mode technology, the travel between the two fixed points can become automated, freeing up an employee to focus on other tasks. If the dual mode tow tractor encounters an obstacle in its set path, such as a pallet in an aisle, it will come to a complete stop and an alert will appear on the telematics systems mobile dashboard, which can also be used to locate the tow tractor.

A typical trained forklift operator can then be dispatched to the tow tractor to switch the vehicle into manual mode and navigate it around the obstacle. Once it is back on its set path, the operator can return it to automated mode so it can continue to its destination, maintaining the flow of the system and uptime.

A dual mode system doesnt require the specialized staff that may be required to move or manage a fully automated solution. For one thing, the familiar controls used for manual operation means a shorter learning curve for traditional forklift operators to interact with it and switch between automated and manual modes. One employee can often manage multiple dual mode vehicles, stepping in only when manual operation is needed.

This is just one example of a process that could be streamlined with dual mode automation, and the possibilities will only increase as dual mode technology continues to evolve. By enabling a scalable approach, dual mode automation technology offers the flexibility companies need to develop their automated processes at their own pace. It can mitigate some of the risks associated with integrating automated solutions into your operations.

As you explore options for dual mode technology, an experienced material handling partner can help determine how best to integrate the technology into your processes in a way that enables the benefits of the technology to be fully realized and ROI to be generated with each deployment.

Jim Gaskell is director, global automation & emerging technologies with Crown Equipment, a manufacturer of forklifts and material handling products.

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Productive Pairings: How Automation and Manual Operations Can Work Together - Material Handling & Logistics

Robots are stealing our jobs, youll hear people say. This blanket statement fails to capture the nuances of robotics and automation. If you take a shower after work, youre probably going to be just fine. The two industries with the least amount of digitization right now are construction and agriculture. Ironically, both industries cant find competent labor unless they import it from south of the border.

If you take a shower before work, you may be in for a world of hurt. Ideally, youre the person in the office who automates themselves out of a job so you can climb to the next rung. Robotics process automation (RPA) is what white-collar workers should embrace, not fear. Its what will allow them to move on to more value-added activities. That or youll just get canned, but in either case, you can probably hedge any future misfortune by investing in RPA stocks. The first thing we need to do is come up with a list of all publicly traded robotic process automation stocks.

In order to come up with a universe of RPA companies we should be watching, we can turn to those people whose entire job is to figure out which leaders are emerging. Here are the names to watch according to the MBAs over at Forrester:

And here are the leaders and challengers according to some other MBAs over at Gartner:

While these quadrants change over time, they do give us all the names we should be watching in the RPA space today.

We previously looked at 7 Startups Using AI for Robotic Process Automation and one of those was UiPath which is now publicly traded. The only other name to make an appearance today is Kryon. Here are the private RPA companies we should be watching (according to Gartner and Forrester) along with total funding if relevant:

Automation Anywhere is the only unicorn on the list with a current valuation of $6.8 billion according to CB Insights unicorn farm. Along with WorkFusion, these two companies seem most likely to pursue an IPO, hopefully not by using a special purpose acquisition company (SPAC). Until then, theres not much to talk about, so lets move on to the RPA stocks in the list.

Heres a list of publicly traded companies we plucked from both lists the leaders, the challengers, and the strong performers (were leaving out Microsoft because RPA is a small part of what they do and SAP for much the same reason.)

Lets take a closer look at each of these five RPA stocks.

In last years article on The Best Robotic Process Automation Stock, we noted only two publicly traded RPA companies at the time Blue Prism and Pegasystems. Lets start with the latter.

We first wrote about Pega three years ago in a piece titled Pega Using AI for CRM and Process Automation. At the time, we couldnt really understand what the company does, and we still dont today. Their website adds to the confusion as they ramble on about crushing business complexity. Perhaps the clearest picture of what they do can be found in their latest earnings deck:

It then proceeds to talk about microjourney-centric delivery and situational layer cake, both of which mean nothing to the average investor trying to understand whats under the hood. There is no breakdown of revenues by segment except for their current focus on moving to recurring revenue from the cloud the highly desired software-as-aservice (SaaS) business model which the market places a premium on.

The last time we looked at Pega, revenue growth appeared to be stalling. Thats not the case anymore, and they seem to have weathered the pandemic quite well.

Since we first looked at Pega three years ago, the stock has returned +95% compared to a Nasdaq return of +89% over the same time frame. It hasnt been hyped, which is great if youre looking to open a position. Heres how Pega is valued compared to the other four RPA stocks were going to talk about next:

The only RPA stock we own right now is Blue Prism, a tech stock thats traded in the U.K. and consequently doesnt get the love it deserves. American investors value subscription software companies more highly, Blue Prisms CEO told The Sunday Times, and his company is said to be exploring a listing in America. When the company announced their 2020 annual results, shares plummeted for reasons nobody can discern. Revenues seem to be plateauing in 2020, but everyone gets a pass last year because of The Rona.

U.K.-traded tech stocks get a bad rap, but if youre a buyer, that shouldnt dissuade you from opening a position. Would you rather wait until they trade in the U.S. and shares are more appropriately valued? One company thats probably too appropriately valued is recent market entrant UiPath.

We featured UiPath last August in a piece titled UiPath From RPA to Hyperautomation, and then again when they had their IPO several months ago in a piece titled UiPath is the Latest Robotic Process Automation Stock. We dont have much to add to those research pieces, only to say that we believe UiPath shares are too richly valued right now. More on this in a bit.

The next stock on the list is an Israeli firm thats been flying under our radar. NICE shares have been listed on the Tel Aviv Stock Exchange since 1991, and NICE ADRs have been listed in the U.S. on NASDAQ since 1996. The majority of the companys revenues (81% in 2020) come from Customer Engagement or whats now referred to as Contact Center as a Service (CCaaS). And apparently, theyre the leader to watch in this space:

The idea behind CCaaS is that companies can conduct call center operations using cloud software which allows them to utilize the latest and greatest technology on a pay-as-you-go plan which can be scaled based on changing demand.

Says Forrester, the NICE Process Automation Platform focuses on voice- and text-analytics-related use cases, a solution dedicated but not limited to contact center automation. Since over 80% of NICEs revenues come from CCaaS, we would need to better understand that space prior to investing in the stock.

Last and also the least desirable of the RPA stocks weve looked at is Datamatics, a company thats pretty much blacklisted from the start. Thats because their miniscule market cap of just $118 million places them way below our minimum market cap cutoff of a billion dollars. Yes, we do profile smaller companies, but theres another red flag here. Datamatics only trades on Indian stock exchanges of which we dont dabble in. Were risk-averse investors, and consequently, we avoid getting involved with emerging market stock exchanges.

We cant tell you what the best RPA stocks to invest in are because every investor has a different risk profile, a different existing portfolio, and a different way theyll want to approach the problem. If your mandate is to invest in all RPA stocks, well theres your five. If its to invest in one RPA stock, thats a much more difficult decision.

All we can tell you is what weve invested in thus far. Back when we first wrote about RPA, there were two pure-play RPA stocks Blue Prism and Pega. Were passing on Pega today for the same reason we did back then. We dont understand their business very well because they cant properly articulate it. This is similar to Alteryx and their analytics process automation offering. Since were presently long Alteryx, were trying to avoid any other stocks out there we might not fully understand.

Of these five stocks, Blue Prism is the only one were holding, a position that happens to be the smallest in our entire tech stock portfolio. It also happens to be the one with the lowest cost basis. Were presently (checks notes) down more than -30% on the position. Now is the time to double down or leave the table. (Nanalyze Premium annual subscribers will be the first to know what we decide to do here.) The advantages of holding Blue Prism are the diversification effects were getting country, currency, and some protection against the ARK effect.

UiPath is just too richly valued with a valuation ratio of 68. Whats a fair valuation? Thats a good question, and something our research team has been looking into. Based on some back-of-the-napkin calculations weve been doing thus far, 40 could be the upper limit of what wed be willing to pay for a company we really wanted to hold. (Thats an example, because we havent finalized this yet.) At a valuation ratio of 40, UiPath shares would be trading around the $47 range compared to the $79 a share theyre trading at today.

That leaves us with NICE and Datamatics, the latter which we wont touch because theyre too small and they trade on an emerging market stock exchange. As for NICE, weve added this as a to-do for our research team to take a closer look at.

Going forward, well look to keep this article updated based on new entrants, M&A activities, and the like. If something has changed and we havent caught on yet, drop us a note in the comments section below and one of our overworked MBAs will assure you were all over it.

RPA is just one segment of the fast-growing enterprise AI space. Nowadays investors need to take a more holistic look at how AI is being used to create value for large enterprises outside of just automating away white-collar jobs. The biggest selling point for RPA is that it cuts costs dramatically, something that becomes even more in vogue when theres an economic downturn.

UiPath estimates that for every dollar a customer spends on their solution, they can return $15 or more in the first year. Thats an ROI just about any company can get behind, regardless of what the economy is doing.

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The 'Best' Robotic Process Automation (RPA) Stocks - Nanalyze

SAN FRANCISCO, June 1, 2021 /PRNewswire/ -- ElectroNeek, a leading robotic process automation (RPA) platform for managed service providers (MSPs) and IT teams, has announced that it raised $20 million in a Series A funding round led by Baring Vostok with participation of AICPA and existing investors - YellowRockets.vc, Dragon Capital, I2BF, Angelsdeck, Gokul Rajaram and others. Following the new funding influx, ElectroNeek's valuation now exceeds $100 million.

ElectroNeek offers a comprehensive suite of software solutions to help companies of all sizes automate repetitive tasks, which simplifies IT processes and reduces costs. ElectroNeek has democratized complex RPA technology making it accessible and affordable to all businesses. It has done so by using a unique approach to deployment and scalability of RPA workflows.

MSPs use ElectroNeek to build and deploy RPA bots for their customers while retaining full control over the pricing of their RPA projects for end users. They can also take care of bot development and administration and offer RPA-as-a-Service subscriptions which can provide a source of recurring revenue for them.

Enterprises use ElectroNeek to replace legacy RPA vendors, save on costly bot licenses and automate a myriad of routine business processes so that they can focus on more high-priority IT tasks.

"The Covid-19 pandemic has forever reshaped companies' priorities. Optimizing costs and reducing unnecessary mundane work to shift focus onto key issues has become top of mind for business leaders. This is exactly what ElectroNeek has been created to help with.

Partnering with Baring Vostok and the continuous support of our existing investors will enable us to bring more MSPs and companies of all sizes to the ElectroNeek hyperautomation ecosystem. This will put us at the forefront of accelerating adoption of RPA technology, allow us to create meaningful change and provide real help to companies of all sizes," said Sergey Yudovskiy, ElectroNeek's CEO and co-founder.

ElectroNeek now has 250 customers ranging from Fortune 500 companies and global consulting firms to smaller size MSPs in more than 40 countries. It has established technology and go-to-market partnerships with Microsoft, Oracle and Nvidia.

"ElectroNeek is a great example of a company using a unique product and distribution strategy in an already established market. Its founders are set on democratizing access to RPA technology which has already proven its bulletproof value in more than 80% of Fortune 500 companies.

ElectroNeek significantly lowers entry barriers for the whole market and supports new RPA developers by building an easy-to-use low-code platform, which is a mission we were drawn to from the start.

As a fund with a long history of betting on underdogs turned industry trailblazers, we hope that with this new funding ElectroNeek will now be one step closer to fulfilling its vision of bringing much needed innovation into the RPA industry," said Maxim Loginov, Partner at Baring Vostok.

ElectroNeek plans to use the proceeds of the funding round to significantly expand its engineering, product and support teams in North America, Latin America, Europe, the Middle East and India.

About ElectroNeekElectroNeek is a leading robotic process automation platform for managed service providers and IT teams. Founded in 2019 by RPA industry veterans, ElectroNeek became the fastest-growing RPA platform in 2021. It now has 250 customers ranging from Fortune 500 companies and global consulting firms to smaller size MSPs in more than 40 countries. ElectroNeek has been named Market LeaderinG2'sMarketMomentumReport for two consecutive quarters alongside UiPath and Automation Anywhere. ElectroNeek is an alumnus of Y Combinator, Plug and Play, a preferred partner of Sage, and has established technology and go-to-market partnerships with Microsoft, Oracle and Nvidia.

About Baring VostokEstablished in 1994, Baring Vostok is the most successful and well-known investment advisory firm focusing on investing in companies with founders who have roots in emerging countries. It invests in companies across geographies that span Europe, North America and Asia. Today Baring Vostok has invested more than $3.7 billion in 87 trailblazing companies across these regions. They include leading multi-category e-commerceplatform OZON, fintech company Kaspi, food retailer VkusVill, off-price retailer Familia, pharmaceutical company Solopharm, edtech company Skyeng, global communications company Viasat and many others.

Contacts:Alex Astafyev (co-founder, CIO) - Eastern EuropeEmail: [emailprotected]

SOURCE ElectroNeek Robotics, Inc.

See more here:

Robotic Process Automation Platform ElectroNeek Raises $20 Million in Series A Funding Round to Democratize Access to RPA Technology - PRNewswire

2020 saw major strides for Open RAN as more operators started to trial and deploy the technology across the globe and more radio, server, and software vendors joined the ecosystem. With wider adoption, it also became apparent that disaggregation of previously tightly coupled radio, hardware, and software presented both some initial integration challenges as well as some ongoing challenges regarding how the disaggregated components would be managed and upgraded.

The good news is that Open RAN follows the enterprise disaggregation path as seen with data centers. Once hardware and software were disaggregated in the enterprise sector in the 2000s, two similar challenges needed to be addressed:

1. How to integrate software and hardware from different vendors.

2. How to automate the upgrades to that software.

This is where cloudification, ZTP (Zero Touch Provisioning), AI (Artificial Intelligence), and ML (Machine Learning) coupled with Analytics come in to enable automation in Open RAN, and these elements are becoming more and more important to mobile operators.

Cloudification with microservices and containers brings operational agility, enables automation and elasticity. To manage secure network operation, ML provides intelligence and response to take different action on the network - for example, scaling. This delivers operational efficiency, 24x7 operational assistance and a means to harness Open RANs flexibility. Analytics is a means to understand network goals.

Lets dive into how automation will help Open RAN to deliver on its promise.

Cloudification with microservices and containers

Cloudification via cloud-native functions (containers and microservices) is the foundation of Open RAN and will help with effective automation in Phase 2 of Open RAN.

Different RAN function components can be implemented as separate microservices, not as one monolithic virtual machine (VM). Because of that, they can be scaled up in any way required to optimize the RAN functions performance.

Developers can make changes to one or a few of microservices without having to update and impact the entire RAN application. A microservices architecture allows mobile operators to continuously innovate by embracing an agile DevOps model. A mobile operator can push out any RAN upgrades to as many sites as needed, as testing a microservice involves very few test cases.

Microservices are packaged in containers, allowing developers to change only a specific microservice as needed. Changes will be limited to a microservice in a single container. Each microservice can be deployed, upgraded, scaled, and restarted independently of other microservices in the RAN application, using an automated system, enabling frequent updates to live applications without impacting SLAs.

Source: Parallel Wireless

Key takeaway: cloudification doesnt mean running RAN services from the cloud. It means virtualizing RAN services (microservices) in containers to ensure quick actions can be taken at the edge of where RAN equipment currently sits. The APIs will be responsible for connecting cloud-native applications and underlying hardware and relevant software infrastructure.

Automation

Automation is enabled by four capabilities across all the stages of network deployment, from initial site bring-up to optimization stages as we show below: ZTP, CI/CD, and AI/ML and Analytics. Automation is a key enabler for cloud native. Any updates are deployed automatically without disrupting the network or end user experience. Automation is used for scaling, testing, and allocating software and underlying hardware resources.

Source: Parallel Wireless

ZTP stands for zero touch provisioning, meaning a mobile operator does not have to perform any manual tasks to configure the cell sites. Sites are configured quickly and automatically.

Once sites are configured, Continuous Integration and Continuous Development (CI/CD) steps in to automate any updates and reduce any manual labor involved on site or in the data center. By reducing or eliminating the need to send engineers to sites, the ongoing maintenance costs will be reduced for mobile operators.

Key takeaway: ZTP will be critical for dense 5G deployments when hundreds of sites will need to be configured.

CI/CD frameworks have been used in IT and enterprise spaces for years. There are two important factors to keep in mind as CI/CD is adopted for Phase 2 of Open RAN. The first factor is the disaggregation itself, as hardware and software components are coming from different vendors. The second consideration is around physical components (servers, radios) in the RAN.

CI/CD framework. Source: GitLab

All these components power different functions across the network. When applying CI/CD models to RAN upgrades, they need to holistically feed into the overall CI/DC strategy across all network segments - RAN, transport, core. So, in addition to creating a cohesive RAN CI/CD strategy, a mobile operator needs to create an overall network CI/CD strategy.

DevOps requires a mindset shift, as traditionally separated departments within an organization now need to work very closely together. They will need to implement a set of new automation to be used across the group for monitoring and testing the application and keeping it secure.

Key takeaway: DevOps and CI/CD enable fast changes to software to deliver on business needs and end user needs. The updates delivered to sites can be monitored to evaluate how they impact end users, and whether they are achieving the pre-determined business goals.

Source: Ericsson

The integration, software upgrades, and lifecycle management of these disaggregated software components running on COTS hardware is enabling a new testing model - where software from the different groups within an organization is not tested in silos, but rather under an overall CI/CD umbrella. As a result, CI/CD will significantly reduce development time from hours to minutes of effort, eliminating the majority of manual tasks.

This approach will help with creating CI/CD blueprints for future deployments with:

Key takeaway: The CI/CD fast delivery cycle makes it easier for developers to work as the business requires. Kubernetes makes finding faulty code easier, meaning it can be reverted or fixed much faster without impacting the business. If there is an issue with infrastructure, automation will enable moving the application to another data center, edge or centralized, depending on the application. Rollbacks for application or container failing are automated, so the latest stable version is always available minimizing downtime and any impact on the end user.

Artificial intelligence (AI) and machine learning (ML)

In a recent Omdia survey, 80% of mobile operator responders stated that they plan to use AI to automate network operations as soon as 2021. AI coupled with ML will be the main tools to guarantee the quality of network performance and the quality of the resulting end user experience across ALL Gs.

AI will be responsible for analyzing data and using ML algorithms to adjust network conditions in regard to proper load balancing, ICIC, and managing handoffs seamlessly - all to ensure the subscriber gets the best experience possible.

All the data sources, as in Big Data, will need to be considered to first classify the data, then secondly recognize the pattern or abnormality, then thirdly predict the behavior. As time progresses, ML algorithms will evolve and become better at predicting and helping AI to make real-time network decisions. This will be critical for 5G when humans and things will be connected.

But any AI can be only as good as the data that goes into it. The data will need to cover different use cases that need to be supported and include data from different vendors across not only all components of the RAN, but the overall network. This is where openness will play a critical role and where the ecosystem must be created.

AI models fall into two categories: supervised and unsupervised learning. Being real-time cellular network prefers models that are unsupervised learners to eliminate the model and training challenge on a continuous basis.

A near real-time RIC should include artificial intelligence (AI) as an xAPP responsible for predicting, preventing, and mitigating situations (i.e. handover) that affect customer experience. The reason AI needs to be in the near-real-time RIC is that AI will drive time-sensitive decisions for network performance. All xAPPs should use the unsupervised learning modes.

AI/ML algorithms will be responsible for:

As a result, this will enable proactive action and the ability to predict the future with certain accuracy. Based on predictions, a preventative action can be taken to avoid a similar situation in the future.

This network and subscriber data will be filled into Analytics to produce hourly and daily reports on behavioral and network patterns.

Key takeaway: AI software will use algorithms created by ML running as an rAPP in the non-real time RIC. Any algorithms and training can be built in non-real time. The reinforcement of those decisions needs to happen in real-time by AI. An ML rAPP from the Non-real-time RIC will help the AI xAPP in the Real-time RIC to recognize traffic patterns and abnormalities and adjust network health to provision the appropriate RAN resources for the optimal subscriber experience.

Analytics

Analytics is a tool to see and understand whats going on in the network and how those changes affect subscriber experience. Analytics will provide a visual representation of patterns or abnormalities and will help a mobile operator to understand what needs to be corrected to improve network performance for a better subscriber experience. Its an opportunity to review the AI data and see reports on how ML is improving the network.

Key takeaway: Analytics will be deployed as rAPPs as part of the Non-real time RIC and will utilize Big Data to provide an overall view of the network conditions. There will be a need for better openness and better APIs between vendors that enable that data mining.

Summary

Clear automation strategy and defined processes across CI/CD, ZTP, AI/ML, and Analytics will help mobile operators to move into a fully automated RAN world, which is key when RAN components come from different vendors as with Open RAN.

The scope of work is the same as with legacy RAN; what is different is the number of vendors that will be a part of the Open RAN ecosystem. Automation of configuration with ZTP and automation of ongoing maintenance with CI/CD, AI/ ML will help mobile operators to realize the promise of Open RAN to avoid vendor lock-in while Increasing efficiency, providing better resource utilization, and driving down overall TCO.

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Why Automation Has a Key Role in Open RAN Featured - The Fast Mode

DUBAI, U.A.E, June 1, 2021 /PRNewswire/ -- The global subsea multiphase flowmeter marketis forecast to expand at 8.5 % CAGR for the forecast period of 2021-2031, finds Future Market Insights (FMI) in a new study. Exquisite functionality of subsea multiphase flowmeterin maintaining the inflow and outflow of oil and gas drives the market growth. Introduction of subsea multiphase flowmeter in production management and monitory along with usage in deep reservoir will aggravate the market demand, evaluated by ESOMAR-certified consulting firm Future Market Insights (FMI) in this study.

According to the study, Establishment of sales and servicing centers in developing economies and forming alliance with regional distributing channels is proving a profitable strategy for long term market expansion. COVID-19 pandemic slowed down the world economy directly affecting the subsea multiphase flowmeter market, but is expected to recover with resuming of trading and economic activities post lockdown.

"Market players are concentrating on delivering premium performance products to satisfy end users and are proposing competitive price structure to expand their global foothold and strengthen their sales channels," remarks the FMI analyst.

Request a report sample with 233 pages to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-11893

Key Takeaways

Prominent Drivers

Key Restraints

Discover more about the subsea multiphase flowmeter marketwith figures and data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/checkout/11893

Competitive Landscape

Leading players profiled by FMI operating in subsea multiphase flowmetermarket include Weatherford, AMETEK Inc., ABB Ltd, Emerson, Peitro Fiorentini S.p.a., Tokico System Solutions Ltd, Baker Hughes, Schlumberger Limited, TechnipFMC plc, KROHNE Japan KK, Haimo Technologies Group Corp among others.

According to FMI, leading players are heavily investing in product innovation and modern technological advancement. Strategic collaborations and partnership can also been seen among market players to enhance their production capacities and pool their technical prowess to gain edge in this competitive landscape.

For instance, stimulation, well testing and production optimization contract was awarded to Baker Hugh by Saudi Aramco in 2018.

Emerson developed new embedded software for digitalization of oil and gas multiphase flow measurement along with automation features to fuel the adoption of Roxar 2600 Multiphase Flow Meter (MPFM) and promote boost process automation in the oil and gas industry.

For any Queries Linked with the Report, Ask an [emailprotected]https://www.futuremarketinsights.com/ask-question/rep-gb-11893

More Insights on FMI's Subsea Multiphase Flowmeter Market

The latest market study on global subsea multiphase flowmetermarket by future market insights gives a detailed segmentation for the forecast period of 2021-2031. in order to gain a better perspective of the global market potential, its growth, trends, and opportunities, the market is segmented on the basis of pipe size (2"subsea multiphase flowmeter, 3" subsea multiphase flowmeter, 4" subsea multiphase flowmeter, 6" subsea multiphase flowmeter, 8" subsea multiphase flowmeter,10" subsea multiphase flowmeter), application (subsea well testing, production monitoring, production measurement), construction material (stainless steel subsea multiphase flowmeter, duplex steel subsea multiphase flowmeter, corrosion resistant alloys subsea multiphase flowmeter, titanium subsea multiphase flowmeter, etc), and across major regions (North America, Latin America, Europe, Middle East & Africa, South Asia and Pacific).

Explore FMI's Extensive Coverage on Oil and Gas Domain

Subsea manifolds market:The global subsea manifolds market report by FMI gives an in-depth insight on the future expansion prospects, trends and challenges that market is likely to face in the upcoming decade. Key statistics regarding key segments have been presented across prominent geographies, along with a detailed assessment of the market's competitive landscape.

Oil and gas seals market:Future Market Insights gives a detailed segmentation on the global oil and gas seals market with upcoming market trends, challenges and future growth dynamics across key geographies and prominent segments. The report provides a holistic approach, mapping the competitive landscape with detailed analysis on established players, new entrants, and opportunities likely to prevail across the 2021-2031 decade.

Global gas leak detector market:The global gas leak detectormarket study published by FMI offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analysis of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies along with competitive landscape of the upcoming decade.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latestmarket research reportsand industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized andsyndicated market research reportsdeliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:

Abhishek Budholiya Future Market Insights, 1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai, United Arab Emirates For Sales Enquiries:[emailprotected] For Media Enquiries:[emailprotected] Website:https://www.futuremarketinsights.com/ Report:https://www.futuremarketinsights.com/reports/subsea-multiphase-flowmeter-market Press Release Source:https://www.futuremarketinsights.com/press-release/subsea-multiphase-flowmeter-market

SOURCE Future Market Insights

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Digitalized Subsea Multiphase Flowmeter Gaining Traction from Oil and Gas Industry; Automation Features Elevates Market Growth: Future Market Insights...