Autonomous Robots and the Future of Retailers

Overview

The future of retail is here and autonomous robots are playing a leading role in its transformation. This guide dives into the benefits of autonomous robots on the sector and inflating statistics on its impact on retail productivity and efficiency.

Autonomous Robots Redefining Retail Landscape

As per the recent market studies, the global retail automation market is expected to reach $18.99 billion by 2023. A significant part of this growth is attributed to the use of autonomous mobile robots that are becoming ubiquitous in retail environments. These robots are leveraged for tasks such as inventory management, delivery, cleaning, and customer service. According to a McKinsey report, automation can cut operating costs by up to 60% for retailers, validating their widespread application in the sector. Robotic process automation (RPA) in the retail industry is projected to reduce errors by 50% and increase processing times by 20%.

The Emergence of Robotic Workforce in Retail

There's a shift in motion from human taskforce to a robotic workforce, and approximately 40% of retailers now deploy autonomous robots to perform repetitive or mundane tasks. This allows staff to focus on the bigger picture tasks – such as enhancing the customer experience and relationship building. Furthermore, a 2020 Ipsos report revealed that 61% of consumers would choose retailers that offer self-service technology over those that do not, highlighting the value that automation adds in the minds of consumers.

AI and Machine Learning Impact on Retail Robotic Automation

Artificial Intelligence (AI) and Machine Learning (ML) are shaking up the landscape of retail robotics. AI-powered robots can now interpret and respond to their environment in real-time, making them more effective and efficient. For instance, robots equipped with AI technology can scan shelves and identify out-of-stock items immediately, accelerating replenishment time by 25%. On the global scale, AI in the retail market is predicted to reach $10.9 billion by 2025.

Challenges and opportunities in Retail Robotics

Despite the advantages of robotic automation, seamless integration into existing workflows often presents challenges. Retailers that manage to overcome these can increase staff productivity by 60%, enhance customer engagement, and achieve up to a 30% increase in sales as per Markets and Markets research. Additionally, online retailers that use robotics for order fulfillment have seen a 40% decrease in the cost of delivery.

Key Takeaways

• Autonomous robots are making a significant impact in the retail industry by enhancing efficiency and reducing operational costs.

• The deployment of a robotic workforce in place of the human task force for mundane tasks is becoming increasingly popular.

• AI and ML are adding value to retail robotics, making robots more adaptable and versatile.

• Despite prevailing challenges, the successful integration of retail robotics can have significant benefits including increased staff productivity and sales volume.

About 3Laws Robotics

3Laws Robotics is pioneering the future of safe and reliable robotic systems. By tackling the significant pain point of certification, 3Laws is opening doors to a future where autonomous robots have a central role in retail operations. Popular robotic middleware such as ROS and ROS2 are compatible with the 3Laws Supervisor software, which offers robust safety features and evidence of system robustness.

Notably, 3Laws' innovative use of Control Barrier Functions developed by Caltech is leading the way in providing mathematically provable safety, and establishing itself as a next-generation safety solution.

Using 3Laws' technology, retailers are achieving operational efficiency improvements with an autonomous forklift customer witnessing a 40% efficiency gain within a 6-month payback period. While other applications such as human-robot interaction and dynamic environments showcase how versatile the 3Laws' software is, ultimately paving the way for safer and more efficient retail operations. Case studies emphasize that 3Laws' software is adaptable and can be used with a wide range of platforms.

3Laws positions itself as a proactive approach to safety, going beyond traditional e-stop methods, and unlocking the full potential of robotics in the retail sector. Their products are a step towards safety-certification, in accordance with international standards like ISO 3691-4 and ISO 26262, for the responsible and efficient deployment of robotics.