Robotics, in the industry, was introduced to reduce the work pressure on humans. The first industrial robot, named the Unimate, was invented in the year 1954, by the father of robotics, George Charles Devol. A few years later Devol worked further on the manufacturing robots for industries along with Joseph Engelberger, which gave birth to the first robot manufacturing company, Unimation. According to the PwC report, almost 59% of the manufacturing companies have incorporated robots in their process. This invention has successfully developed many mechanical engineering start-up ideas for the aspirants.
Although there has been a massive buzz about manufacturing robots and incorporating them in business, there are certain myths that people blindly swear by. Such as:
#1. Robots are a threat to the safety of the workers-
Technologists and mechanical engineers have been working consistently on the safety of the robots to ensure efficiency without any safety hazards. According to researchers, since 2016, the robots are becoming safer day by day. Engineers have introduced smart robots that send warning signals when a worker is within a specific distance from it and stops working automatically if the worker gets too close.
#2. Robots are complicated to handle-
Smart robots can be controlled via smartphones and tablets, making it easier for the programmer to work with it. This feature of smart robots has gained massive popularity and acceptance, which has resulted in manufacturing robots on a vast scale.
#3. Robots increase the unemployment rate of a country-
Robots were invented to assist humans and make tedious jobs easier and faster. They are not meant to replace humans but work alongside to increase the efficiency of production. You can boost your engineering business with robotics and improve the operation of your organization.
#4. Robots are only used in mass production-
Advancement of technology has designed robots to perform both tedious as well as precision jobs. Engineers work on manufacturing robots that are affordable, user-friendly and versatile enough to suit the small and medium enterprises. Robots can perform various functions that will improve the performance of your organization.
#5. Robots are meant to outsmart humans-
As discussed earlier, robots were invented to make the work easier faster. It is vague to think that robots can outsmart humans as it is merely a machine controlled by humans himself. Robots can perform tedious jobs but cannot replace the human brain and creativity.
#6. Robots do not adjust to the existing operational process-
Robots are designed to increase the productivity of an existing function. They are more flexible and efficient enough to adapt to the changes involved in the operational process within their programmable capabilities.
#7. Robots have low efficiency compared to their cost-
It is evident that robots are expensive, but they are productive enough to be worthy of the price. With the advancement of technology, robots are becoming more efficient that contributes to the quality of production, thus inducing sales. Analysts say that organizations who have incorporated robots in their operation have reached their break-even in a short period.
Many engineers consider robot manufacturing among profitable engineering business ideas due to the efficiency of such robots. However, every business needs capital to function, which may not be readily available. Thankfully, there are certain financial institutions and NBFCs like Bajaj Finserv that offers collateral-free Loan for Engineers to finance your business.
Bajaj Finserv offers several other benefits such as flexible tenors, attractive interest rates, online account access and many more.
However, the incorporation of robots in the manufacturing industry of India has been quite slow. This has increased the demand for manufacturing robots in the market, thus bringing in a business idea for mechanical engineers in India. Research says that India has as less as three robots per 10,000 workers, which can help you in getting hold of the market quickly.
Nishant is a passionate blogger. He has expertise in writing finance articles. He has been serving society as a financial adviser. He loves keeping himself up-to-date with the news and happenings around. He is always open to learning and shares his experiences on Greetings of the Day.