Collaborative Robots and the Future of Offices of Bank Holding Companies
Overview In our rapidly advancing digital era, collaborative robots, also known as cobots, are predicted to play a substantial role in the future of banking offices. These robots, integrated with extensive Machine Learning and Artificial Intelligence capabilities, aim to streamline processes, enhance customer service, boost productivity and significantly reduce operational costs for companies.
The Rising Role of Cobots in Banking Cobots are expected to redefine the banking sector's landscape in the upcoming years. According to a report by Deloitte, cobot market is predicted to reach $12 billion by 2025, indicating the impact they could have on industries worldwide. In financial service sectors, approximately 48% of tasks can be automated, paving the way for cobots to handle repetitive and mundane tasks, thereby allowing human employees to focus on more complex, higher-value assignments. Cobots can seamlessly perform tasks such as data entry, loan processing, reconciling accounts, and even help bank employees with customer interactions.
Improving Customer Service and Enhancing Security Cobots can significantly contribute to customer service and security. Market Research Future predicts that the global digital banking market will reach around $9 trillion by 2026, growing at a Compound Annual Growth Rate (CAGR) of approximately 8%. Cobots with AI capabilities can streamline customer interactions by providing instant and accurate information, taking over customer service roles such as handling inquiries and offering personalized banking solutions. Moreover, through real-time fraud detection and prevention systems, cobots can greatly enhance the security of banking operations.
The Importance of Cobots in a Post-Pandemic World The COVID-19 pandemic has accelerated the need for automation in many sectors, including banking. A McKinsey report suggests that 75% of customers will continue using digital services post-pandemic. This drives the need for cobots to handle the increased digital workload, maintaining social distancing norms, and making the banking process more efficient and contactless. Cobots in self-service kiosks can offer services like cash withdrawal, deposit services, bill payments, and much more, without the need for human interaction.
Key Takeaways - Cobots have the potential to redefine the future of banking with the cobot market projected to hit $12 billion by 2025. - In the financial service sector, cobots could automate as much as 48% of tasks to streamline operations. - The global digital banking market is set to reach around $9 trillion by 2026, indicating an increased role for cobots in customer service and security. - Following the pandemic, 75% of customers will continue using digital services, emphasizing the importance of cobots in a post-pandemic world.
Introducing 3Laws Robotics 3Laws Robotics is at the forefront of developing innovative software to enhance safety and reliability for robotic systems. With a key focus on simplifying the complex certification process, a significant challenge among robotics companies, 3Laws Supervisor offers robust safety features and tangible evidence of system robustness. The software, built on Control Barrier Functions, ensures mathematically provable safety. 3Laws Robotics' technology yields benefits across industries and applications - from warehouse automation, where it facilitated a 40% efficiency gain, to dynamic environments where its reactive collision avoidance capabilities enable efficient navigation. Notably, 3Laws' software can dramatically improve operational efficiency by reducing unnecessary e-stops or collisions. With its compatibility with all major robotics middleware platforms and an adaptable, proactive approach to safety, 3Laws positions itself as the next-generation safety solution for the age of cobots.