Cobots and economy: Robots could become colleagues, not replacements

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  Quantumrun Foresight
• November 9, 2021

Cobots, or collaborative robots, offer a smaller, adaptable, and trainable alternative to traditional robots. Their rise could lead to industry-wide transformations, including more human-cobot partnerships in manufacturing and retail, as well as the emergence of next-generation robotic home companions. However, while cobots enhance human capabilities and reduce workplace injuries, they may also contribute to job displacement and raise concerns regarding data privacy and cybersecurity. 

Cobots and economy context

Robotics has influenced various sectors, including manufacturing, logistics, and healthcare. Traditional robots have been instrumental in these industries, performing tasks that range from assembling car parts to sorting packages in warehouses, to assisting in surgical procedures. However, these machines come with their own set of limitations. They are typically large and clunky, pose safety risks to human workers, and are often designed to perform a single, specific task.

In contrast, cobots are designed to be smaller, more adaptable, and capable of being trained by human operators. For example, in 2019, Ford Motor Company introduced cobots into their production line in Germany. These cobots, unlike their traditional counterparts, were able to assist workers in complex tasks, such as installing shock absorbers onto cars, a job that requires precision and adaptability. This feature is made possible by their advanced systems that enable them to understand and execute entire tasks, rather than just individual components.

The adoption of cobots by businesses is not merely for the purpose of automating repetitive tasks. Rather, they are being utilized to enhance human capabilities, allowing employees to focus on more complex and intellectually demanding tasks. According to a 2022 report by the International Federation of Robotics, it is projected that by 2025, cobots will make up 34 percent of all industrial robots, representing a potential market value of USD $9 billion.

Disruptive impact

The cost-effectiveness of cobots over traditional robots is likely to become more pronounced. This affordability, coupled with their advanced capabilities, could lead to a significant increase in their adoption across various industries. For instance, in the agriculture sector, cobots could be deployed to perform harvesting and sorting, which would not only increase efficiency but also reduce the physical strain on human workers. Furthermore, the refined sensors in cobots, which allow them to detect the presence of humans and adjust their actions for safety, could significantly reduce workplace accidents.

However, workers may need to be trained in edge computing and cobot programming, enabling them to effectively control and program these machines. For example, in the healthcare sector, medical professionals could be trained to use cobots in surgical procedures, improving precision and reducing the risk of human error. This shift in required skills could lead to an increased demand for education and training in these areas, creating new opportunities in technical education.

The rise of cobots could also have significant implications at a policy level. Governments may need to develop new regulations to ensure the safe and ethical use of cobots in the workplace. For instance, in the event of a workplace accident involving a cobot, it may be unclear who is legally responsible - the operator, the manufacturer, or the company using the cobot. Furthermore, as cobots become more accessible and affordable, governments may need to consider how to support industries and workers through this transition, potentially through initiatives such as retraining programs or incentives for businesses to adopt cobots.

Implications of cobots 

Wider implications of cobots may include:

• Manufacturing companies that have less bulky, giant assembly lines and more human-cobot partnerships.
• Factory workers being trained in robotics to effectively collaborate with cobots, including making the necessary programming adjustments as needed.
• Robotics manufacturers increasing their production of cobots and adding upgrades annually.
• Consumer retail applications, taking on tasks like food picking for food delivery services and folding and stocking shelves in clothing stores.
• Next-generation robotic home companions and caregivers to aid in a range of home management and caretaker tasks.
• A significant reduction in workplace injuries transforming the landscape of occupational health and safety as well as insurance.
• A decrease in environmental footprint as these machines are typically more energy-efficient and produce less waste than traditional industrial processes.
• Industries that heavily rely on low-skilled labor replacing human workers with these machines, leading to job displacement and increased unemployment among certain demographic groups.
• New challenges in data privacy and cybersecurity, as these machines often rely on collecting and processing large amounts of data, creating new vulnerabilities.

Questions to consider

• Are you willing to work with a cobot? Why or why not?
• What are the possible advantages of having a cobot co-worker?