Image Source: Pixabay
ExecutiveChronicles | How Advanced Technology is Driving Business Success – 3 Key Examples | In every business form, technology improves processes, drives efficiency gains, and allows firms to do more with less time. Today, business leaders are constantly searching for the next IT platform, application, or technology to allow their company to operate more effectively. This continuous drive for improvement can be seen in every sector, from healthcare to aerospace. In recent decades, the pace of technological improvement has been rapid.
Microchips continue to get smaller, processing power continues to increase, and new applications are discovered. These advances can benefit organizations in numerous ways, giving them a competitive advantage that allows them to thrive in the increasingly crowded global marketplace. In this article, there will be a focus on three key types of advanced technologies. These may be used in a wide range of different firms and industries. The common benefit of such technologies is allowing companies to achieve ongoing success in their operations sector.
3D printing for rapid prototyping
3D printing has a history that is longer than most people realize. While the technology has only become commonplace in the last decade, the initial concept was developed in 1993 by the Massachusetts Institute of Technology. Today, consumers can buy 3D printers for their design projects or hobbyists who seek to explore what the technology can do. 3D printing is now widely used in many forms of business, especially in the manufacturing industry. It is used to create accurate prototypes of new products, components, or machinery.
Companies such as https://www.rapidpsi.com/prototyping/ work with businesses to help them quickly develop prototypes and products. Traditionally, prototyping and new product development was a long and laborious process. Designers would create detailed schematics and technical drawings before a prototype could be made. This process was time-consuming and expensive; any changes to the design or functionality of the product would require a complete re-draw of the design and the need to start the prototyping process again.
With 3D printing, the design can be created on a CAD platform, before being sent to the 3D printer. Modifications to the design can be made quickly and the final product will be to exacting specifications. In short, this technology allows a range of firms and industries to speed up their prototyping and design phases while reducing the costs involved in the process.
Complete automation in dark factories
Modern factories have always relied on automation on their production lines. It allows them to produce goods at higher volumes and with lower labor requirements. However, some factories have taken automation to its logical conclusion by creating completely autonomous factories. These are known as “dark factories” as they do not require heating or lighting, using a robotic workforce and fully automatic production lines. The key benefit of this model of operations is that labor costs can be set at zero. Robotic workers do not need to be paid, and firms can benefit from 24/7 production schedules once the factory is fully operational.
This allows the highest levels of production to be achieved and gives such firms a competitive edge when it comes to costs per unit. However, the key downside of dark factories is their initial setup costs. As you might expect, a fully automated production line staffed by advanced robotic workers is expensive. Only the largest and most profitable companies can invest in such factories, and it may take several years before the costs are recouped.
Drone technology
Drone technology is now being adopted across a range of businesses and industries. For example, it is now being rolled out in the pre-hospital healthcare setting, being used as a vehicle to deliver emergency equipment and vital medical supplies in time-critical emergencies. Ambulance services have been quick to recognize the value of this equipment. It is especially useful in remote areas that may be hard to reach in an emergency or busy urban locations where road networks may be congested.
In a time-critical emergency, being able to deliver potentially life-saving equipment has the potential to improve patient outcomes. Drones are also being used in the agricultural sector to improve efficiency. This technology can accurately monitor large areas of crops, allowing the operator to gain a comprehensive picture of the progress and conditions of crop growth. Large fields can be monitored far faster by using this technology, saving time and resources.
Drones may also be fitted with crop spraying equipment, allowing them to fertilize fields quickly and efficiently. These are just two examples of how drone technology is driving improved business success. It is likely that in the coming years, drones will see additional roles across a wider range of industries.
