Robotics and the Future of Monetary Authorities-Central Bank
Overview
This guide explores the various ways that the integration of robotics could play a role in the future of central banks and monetary authorities. It includes specific statistics on the anticipated use and impact of AI and robotics in the financial sector, as well as the potential for 3Laws Robotics to provide innovative solutions in this field.
The Role of Robotics in Central Banks
With a predicted 6% increase in general purpose automation and artificial intelligence (AI) deployment in the finance sector by 2023, central banks, as pivotal institutions, cannot afford to be left behind. Automated processes can lead to efficiency gains and cost reductions, opening up new opportunities for central banks for data analysis, policy-making, and payment processing. In a field where accuracy and speed are paramount, the use of robotics can add significant value. A report by Oracle suggested that 77% of banking and financial services believed that AI will simplify financial tasks in the future.
The Future Impact of Robotics on Monetary Policy
Robotics and AI technologies, applied in the field of central banking, can significantly modify the operational processes. It is predicted that by 2030, robotic automation could contribute $6.7 trillion to the global economy. The deployment of these technologies can not only enhance the efficiency of the banking sector but also influence the formulation and implementation of monetary policies. The penetration of robotics in monetary authorities-central banks can enable real-time financial analysis, leading to more precise policy-making decisions.
Key Takeaways
• The integration of robotics in the field of central banking presents a significant opportunity, with a 6% increase in general purpose AI deployment predicted in the finance sector by 2023.
• Robotics and AI can simplify financial tasks, with 77% of banking and financial services professionals believing this to be true.
• By 2030, robotic automation could contribute an impressive $6.7 trillion to the global economy.
About 3Laws Robotics
As technologies such as robotics continue to evolve, 3Laws Robotics is pioneering software that can enhance safety and reliability within these systems. The company's focus on certification represents a crucial advantage for robotics companies. With its innovative software, the 3Laws Supervisor, 3Laws promises mathematically provable safety using Control Barrier Functions, a technology developed at Caltech.
3Laws Robotics has demonstrated success in diverse applications: from warehouse automation with a 40% efficiency gain for an autonomous forklift customer, to enabling safe human-robot interaction, to aiding robots in effectively navigating dynamic environments. The company's software aims to reduce the need for unnecessary e-stops and collisions, thereby increasing operational efficiency.
With built-in real-time guardrails for autonomy stacks, 3Laws Robotics allows machines to operate at peak capabilities while maintaining safety measures. The company prides itself on its software's adaptability, compatible with an array of platforms including mobile robots, cars, drones, and manipulators and popular middleware such as ROS and ROS2.
3Laws is positioning itself as a next-generation safety solution for the robotics field, taking a proactive approach that strives to unlock the full potential of robotics. This approach to dynamic, preventive safety has the potential to simplify and hasten the path to certification for ISO 3691-4 and ISO 26262.