How to Invest in the Right Machinery in 2020
January 16, 2020
Our world is in a transition period, between the old industrial revolution of the Victorian era, and the new developments that are taking us towards a fully automated future. Many theorists, commentators and economists predict that the 2020s will be a pivotal and far-reaching decade in terms of our machine-building prowess, with data and machine learning leading to better and better robotics and AI-enabled machines. In this article, you’ll learn the basics of the machinery you should invest in – either as capital investment, or physical infrastructure in your business – for 2020 and beyond.
Some machines are as old as the industrial revolution itself and will still be required on production lines up and down the country and all over the world for decades to come. One such machine is the packaging machine – ensuring that goods are sterilized and packed effectively before distribution. Another is the conveyor belt – available in many guises at conveyor solutions – shifting productions from one end of a factory to the other. In an automated future, these machines will still have their place on the production line, while others will disappear.
There are several machines on today’s production line that will likely disappear and become redundant in coming years. Many are those that require some level of human input to operate. Often these require a specially-trained human to watch over the quality of a produced object, or to intervene in the production process for one reason or another. This requirement will almost certainly be coded out of existence in the next half-decade, with machine learning operating much like a human brain, and advanced cameras replacing the human eye. A savvy investor will always look to full automation first for the 2020s.
All new technology risks running into the same obstacles as the old technology that digital processes made redundant at the turn of the last decade. Obsolescence is a serious threat to machines that are only ten years old, as vastly improved services and machinery are now available across the world, making production lines increasingly effective. The best machines developed in the modern era are those that can be repurposed – and recoded – to perform a different task, should this be required. Versatility will help you make the most of your machine investments in 2020.
Finally, look out for those machines that are universally applicable across several different industries. Not only does this mean that spares and repairs will be cheaper and more readily available if your machinery should fail, but it means the companies that develop this technology will try their best innovate with future patches and breakthroughs, building on top of a framework in which you have already invested. This enables your investments to be profitable in a diverse range of markets. Universality is key for resilient technology investments in the modern era.
These four tips will enable you to make the right investments in machinery and technology this year and in the decade to come.