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Articles

AFP Jargon Watch: Cobot

  • By Bryan Lapidus, FP&A
  • Published: 7/16/2018

JargonHere is the latest installment of #AFPJargonWatch:

What it is:
Short for “collaborative robot,” a robot that is intended to inhabit the same physical space as people and support people; a contrast to industrial robots that work autonomously.

Why it matters: The idea of machines replacing us is less likely than machines working next to us, both in physical spaces and white-collar work such as finance. We will see this in business cases (proposed investments) presented to us, and in our finance world, as machine learning becomes a tool that we apply to our jobs.

Trend spotting: "Cobots made up just 5 percent of the $14 billion industrial-robot market in 2017, according to research by Minneapolis-based venture-capital firm Loup Ventures. Loup estimates sales will jump to 27 percent of a $33 billion market by 2025 as demand for the robotic arms rises. About 20 manufacturers around the world have started selling such robots in the past decade." -- The Wall Street Journal, "Your Next Robot Encounter: Dinner, Drinks and a Massage."

Connect with Bryan Lapidus, FP&A, via emailLinkedIn or Twitter.

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