FEATURE FINANCING MAKING INDUSTRY 4.0 AFFORDABLE
where the UK has significant strengths, including healthcare, manufacturing, transport, aerospace and oil and gas. Focusing on these key areas, and accelerating development in this wide range of sectors, will ensure that the UK leads not only in terms of scientific advances, but also in commercialisation and competitiveness9
. Healthcare, for example, is becoming an
important area of development in the use of robotics and AI. There are a number of innovative robotics companies already operating in the UK and the development of bionic limbs is currently being pioneered by a British robotics company who uses 3D body scanning and printing to create bionic hands that are advanced, lightweight and low-cost10
. The possibilities for manufacturers in the
robotics sector are growing and it is now an important time for the UK to expand its presence in the sector. Robotic manufacturers aiming to put
Brian Foster, Head of Industry Finance at Siemens Financial Services in the UK, explores the opportunities for the UK’s growing robotics industry, and explains how Finance 4.0 can help companies achieve a sustainable way of investing in digitalised technology
B
usinesses and consumers are waking up to the power of robots, as
advancements in new generation digitalised technology (also known as Industry 4.0) are helping to transform the robotics industry. Traditionally deployed in the industrial manufacturing process, new robot types such as consumer or
personal assistant robots and unmanned aerial vehicles (UAVs) are growing in popularity with many other robot types, such as autonomous vehicles, emerging1
. This
popularity is set to grow, and the worldwide robotics market is predicted to reach $237 billion worldwide by 2022, more than seven times its 2016 value of $31 billion2
.
Europe is at the forefront of this growth. Across the EU and from the USA to China, major industrial nations have identified robotics and Artificial Intelligence (AI) as strategic economic and policy priorities. However, the UK currently trails behind Japan, Germany, the USA and many other nations in the uptake of industrial robots3
. 30 DECEMBER/JANUARY 2019 | PROCESS & CONTROL
This is in stark contrast to the strength of the UK’s automotive and aerospace industries. The UK is the second-largest aerospace manufacturer in the world4
‘Finance 4.0 covers a range of
requirements, from the
acquisition of a single piece of digitalised technology, right through to financing a whole factory’
reached its highest level in seventeen years in 20165
. It is
interesting to note that the use of robotics in UK manufacturing is dominated by the automotive industry and is
becoming more prevalent in other
major manufacturing aerospace6
industries including .
Nevertheless, a recent boost to the
robotics and AI industry from the UK Government’s Industrial Strategy Challenge Fund7
, has unlocked a
substantial opportunity for the UK to embrace the new robotics age. According to the UK Robotics and Autonomous Systems Special Interest Group, the UK could take a 10% market share of the global robotics industry within the next few years8
.
Robotics and AI are already driving innovation in a diverse range of sectors
Industry 4.0 and Finance 4.0 go hand-in-hand
and UK car production
Tractica, The robotics industry, 5 July, 2017 2
1
Tractica, The robotics industry, 5 July, 2017 3
The Engineer, UK must rise to robotics and AI challenge, 9 June, 2017, 4
SMMT, Motor Industry Facts, 2017,
www.smmt.co.uk 6
innovative ideas into research and development and then through to production, however, are dependent on expensive, custom-made equipment of high specification which can be difficult to acquire without having to commit scarce capital. Against this backdrop, access to a range of smart and appropriate financing techniques – Finance 4.0 – is critical to a company’s ability to sustainably invest in the new fourth-generation of digitalised technology and automation equipment. Finance 4.0 covers a range of requirements from the acquisition of a single digitalised piece of technology, right through to financing a whole new factory. These financing methods can help make the upgrade to digitalised technology affordable and potentially cost neutral (or better) for the manufacturer. Finance 4.0 arrangements tend to be
EEF Aerospace Bulletin, 2017 5
E&T, Robotics: manufacturing the future, 24 January, 2017 7
Gov.UK, Funding for £84 million for artificial intelligence and robotics research...announced, 8 November, 2017, 8
The Engineer, UK must rise to robotics and AI challenge, 9 June, 2017, 10
Alphr, How the UK can pioneer the robots of the future, 3 April, 2017 9
Alphr, How the UK can pioneer the robots of the future, 3 April, 2017
offered by specialist providers, such as Siemens Financial Services, that have a deep understanding not only of how the digitalised technology works, but also of how that technology can be practically implemented. The benefits of development in the robotics sector are significant and far- reaching, meaning that manufacturers are racing to keep up with multiple and continuous technological trends and advancements. To best navigate these, such companies should consider working with a specialist financier to help them understand the most sustainable ways to invest in Industry 4.0 technology. Whilst this can be a challenge, companies that delay investment and fail to embrace the opportunities available to them, risk being left behind by the competition.
Siemens Financial Services
www.siemens.com/uk/en/home/
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