LEADING MARKET INSIGHTS
We deliver insight on current movements in the jobs market before anyone else even knows it’s changed.
New Robo-advice Technology – Investment and Insurance Restructuring – 400 Jobs At Risk
Royal Bank of Scotland intends to launch an automated online investment service, known as robo-advice, for customers wishing to invest up to £250,000. The bank will only provide personal, face-to-face advice to customers with more than £250,000 to invest. Although this will result in the loss of 220 adviser roles, it could ultimately lead to a reduction in the cost of financial advice. RBS also intends to make 200 jobs losses from its insurance operations.
BBC News, March 2016
Robots Threaten 15 Million UK Jobs – Admin and Production Roles At Risk
The Bank of England estimates that sophisticated robot technology could ultimately put 15 million jobs at risk, representing half of the UK workforce. The threat follows advancement in robotic cognition. This will allow machines to carry out administrative, clerical and production tasks at low- and mid-skill levels, which could previously only be carried out by humans.
Daily Mirror, December 2016
Healthcare Innovation – Partnership with University of Brighton – Robots Used To Ease Dementia Symptoms
The Sussex Partnership NHS Foundation Trust has partnered with the University of Brighton to trial the therapeutic use of a robot designed to look like a seal cub with people living in care homes. The £3,300 robot, developed in Japan under the brand name Paro, moves when its fur is stroked or when it ‘hears’ a voice. The trial will assess if interaction with the robot can help to reduce symptoms associated with dementia such as anxiety and distress.
The Argus, February 2015
McRobots To Run 25,000 Restaurants – Efficiency Gains and Cost Savings
Fast food chain McDonald’s intends to open 25,000 restaurants across the US by the end of 2015, which will be run entirely by robots. Up to three human employees will be employed at each restaurant to monitor the robots, deal with the takings, and restock food and cleaning materials. The technology is expected to reduce costs, and improve productivity and service standards. The investment is part of McDonald’s financial turnaround strategy following weak sales.
News Examiner, June 2015
Robots Replace 90% of Human Employees – Production and Quality Improvements – Chinese Market Dominates Industrial Robotics
Changying Precision Technology Company has replaced 90% of the 650 employees at its cell phone components factory in Dongguan City, China, with robots. Productivity has increased threefold since the robots were introduced and product defect rate has fallen from 25% to less than 5%. China is the world’s biggest market for industrial robotics and automation receives strong support from the Chinese government, which subsidises the cost of purchasing the technology.
Monetary Watch, January 2017
Home Working Innovation – Robotic Office Presence Developed
First Light PR has gone the extra mile for an employee who has become unable to travel to the firm’s London base, by creating a robot which enables them to communicate with colleagues in the office. The employee, who works from home, can control the robot remotely, moving it around the office, and talking to clients and co-workers via a two-way video feed.
The Guardian, April 2015