Automation is not more science fiction limited to Sci-Fi movies and books; today science has advanced so much that we are talking about AI (Artificial Intelligence) transforming the way we live. It is only recently that automation has started gaining a foothold in the world of finance and that is the reason we are seeing the crop of automated trading software like the Crypto Code, a trading robot dealing with cryptocurrencies another newbie in the financial scene.
Advantages of automation
1.There are several advantages of automation in the industry as it will improve the efficiency of a product, reduce the costs and the time taken for production. Any management can use the extra resources in other areas of need. As a result, the overall finances of the company will improve with automation.
- Automation will also create the need for niche-based personnel who will be proficient in maintaining and troubleshooting the devices or machines. This will create job opportunities for the technically skilled people.
- Improves the quality of products because of the competition in the field. Manufacturing units will compete with each other to provide quality products at the best prices to hold on to their customer base.
Disadvantages of automation
- The first and foremost disadvantage of automation is the loss of jobs. People will lose their livelihood and this will lead to related problems of strife and unrest if not addressed immediately.
- Technical challenges will become common as a majority of the masses are ignorant of the complex ways of automation.
- The chances of error also increase because these systems do not have the human mind to adapt quickly to a present situation and do the needful; they will keep doing what they have been programmed to do.
Despite the disadvantages since the time of the first machines, human beings have learned to adapt and work alongside these machines for a better and more fruitful life. It is paramount for all fields to adopt automation to a certain level if they wish to progress in their field and break hitherto unexplored frontiers.
Automation will make life easier and will provide individuals with an opportunity to spend their energy and focus on things that matter and that they desire to do. So, if you invest in an automated trading system like the Crypto code you will not only have time to pursue your hobbies but will also be able to supplement your income with the profits.