rob0126
Veteran Member
If true, then it sounds like the Lord put a 1900 year halt on it.
TECH Job Automation: Is it here? Should we be worried? (OP Jan 2020)
- Thread starter Knoxville's Joker
- Start date
If true, then it sounds like the Lord put a 1900 year halt on it.
Thunderdragon
Veteran Member
With a national 15 an hour minimum wage. And 1,000 a week unemployment. Everything will be automated.
Thunderdragon
Veteran Member
What I do find strange is that jobs do not go away immediately. Check out Home Depot. I may be wrong. But...cash registers are automated. Should reduce employees. Tracking down someone to ask questions. Gets harder. But...I noticed more cars parked in employee areas and the traffic to and from the break room is huge. Just go towards the exit to break room is you want help. I swear...the staff at the store has not actually decreased. They just have more employees hiding and hanging out. I could be wrong...maybe someone on here knows.
I have not ordered in person at a fast food restaurant in years.
“There is an app for that!”
Always place my order thru the app on my phone and either pick it up thru the drive-thru or curb-side delivery.
et2
TB Fanatic
Yes ... Industry 4.0. It’s alive and well ... coming. The 4th industrial revolution. Hitting the manufacturing industry. Industry 4.0 is the digital transformation of manufacturing/production and related industries and value creation processes.
Industry 4.0: fourth industrial revolution guide to Industrie 4.0
Digital ... AI ... etc
Industry 4.0: fourth industrial revolution guide to Industrie 4.0
Digital ... AI ... etc
et2
TB Fanatic
Wikipedia
The Fourth Industrial Revolution (or Industry 4.0) is the ongoing automation of traditional manufacturing and industrial practices, using modern smart technology. Large-scale machine-to-machine communication (M2M) and the internet of things (IoT) are integrated for increased automation, improved communication and self-monitoring, and production of smart machines that can analyze and diagnose issues without the need for human intervention.[1]
The Fourth Industrial Revolution (or Industry 4.0) is the ongoing automation of traditional manufacturing and industrial practices, using modern smart technology. Large-scale machine-to-machine communication (M2M) and the internet of things (IoT) are integrated for increased automation, improved communication and self-monitoring, and production of smart machines that can analyze and diagnose issues without the need for human intervention.[1]
et2
TB Fanatic
Sorry long read
https://www.epicor.com/en-us/resource-center/articles/what-is-industry-4-0/
What is Industry 4.0—the Industrial Internet of Things (IIoT)?
Industry 4.0 refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine learning, and real-time data. Industry 4.0, which encompasses IIoT and smart manufacturing, marries physical production and operations with smart digital technology, machine learning, and big data to create a more holistic and better connected ecosystem for companies that focus on manufacturing and supply chain management. While every company and organization operating today is different, they all face a common challenge—the need for connectedness and access to real-time insights across processes, partners, products, and people.
That’s where Industry 4.0 comes into play.
Industry 4.0 isn’t just about investing in new technology and tools to improve manufacturing efficiency—it’s about revolutionizing the way your entire business operates and grows. This resource will provide you with an in-depth overview on the topic of Industry 4.0 and IIoT, including information on the following:
Evolution of Industry from 1.0 to 4.0
Before digging too much deeper into the what, why, and how of Industry 4.0, it’s beneficial to first understand how exactly manufacturing has evolved since the 1800s. There are four distinct industrial revolutions that the world either has experienced or continues to experience today.
The First Industrial Revolution
The first industrial revolution happened between the late 1700s and early 1800s. During this period of time, manufacturing evolved from focusing on manual labor performed by people and aided by work animals to a more optimized form of labor performed by people through the use of water and steam-powered engines and other types of machine tools.
The Second Industrial Revolution
In the early part of the 20th century, the world entered a second industrial revolution with the introduction of steel and use of electricity in factories. The introduction of electricity enabled manufacturers to increase efficiency and helped make factory machinery more mobile. It was during this phase that mass production concepts like the assembly line were introduced as a way to boost productivity.
The Third Industrial Revolution
Starting in the late 1950s, a third industrial revolution slowly began to emerge, as manufacturers began incorporating more electronic—and eventually computer—technology into their factories. During this period, manufacturers began experiencing a shift that put less emphasis on analog and mechanical technology and more on digital technology and automation software.
The Fourth Industrial Revolution, or Industry 4.0
In the past few decades, a fourth industrial revolution has emerged, known as Industry 4.0. Industry 4.0 takes the emphasis on digital technology from recent decades to a whole new level with the help of interconnectivity through the Internet of Things (IoT), access to real-time data, and the introduction of cyber-physical systems. Industry 4.0 offers a more comprehensive, interlinked, and holistic approach to manufacturing. It connects physical with digital, and allows for better collaboration and access across departments, partners, vendors, product, and people. Industry 4.0 empowers business owners to better control and understand every aspect of their operation, and allows them to leverage instant data to boost productivity, improve processes, and drive growth.
Industry 4.0— Where is This Revolution Going?
Download Now
Basic IIoT Concepts and Glossary of Terms
There are hundreds of concepts and terms that relate to IIoT and Industry 4.0, but here are 12 foundational words and phrases to know before you decide whether you want to invest in Industry 4.0 solutions for your business:
Smart Manufacturing Use Cases
One of the best ways to understand the concept of smart manufacturing better is to think about how it could be applied to your business, or a business similar to your business. Here are three use cases that can help you understand the value of Industry 4.0 in a manufacturing operation:
Who Is Industry 4.0 Right For?
How do you know when or if your business should invest in Industry 4.0?
If you’re able to check off most of the items on this list, it’s probably safe to start evaluating Industry 4.0 technology and solution providers and allocating the resources needed for deployment:
How Digital Transformation and ERP Can Help You Build Your Factory of the Future
Download Now
Benefits of Adopting an Industry 4.0 Model
Industry 4.0 spans the entire product life cycle and supply chain— design, sales, inventory, scheduling, quality, engineering, and customer and field service. Everyone shares informed, up-to-date, relevant views of production and business processes—and much richer and more timely analytics.
Here is a quick, non-exhaustive list of some of the benefits of adopting an Industry 4.0 model for your business:
Challenges to Consider and Overcome
As you consider whether or not to invest in Industry 4.0, you may be thinking about some of the potential challenges associated with incorporating new technology and processes into your organization. You’re not alone. Here are some of the most common questions that most business owners think about when it comes to smart manufacturing:
Question #1: Will our business data and customer information be safe?
As the threat of cyber-hacking continues to intensify each year, many businesses are worried that investing in cloud-based technology and moving data out from behind their own walls will leave their businesses and data vulnerable to attackers. Epicor keeps information safe and secure by leveraging deep security expertise and deploying stringent cyber-security measures for all customers that invest in Industry 4.0 technology.
Question #2: Will I be able to get support from my team?
The short answer to this question is yes. While implementing new technology and a new business model can be hard for some people to accept and adopt, you can ultimately get support from your team by clearly setting expectations up front, stating the purpose and benefits of investing in Industry 4.0 technology, and being open and transparent with your team throughout the entire implementation process.
Question #3: Do we have the resources and staff to implement and manage this technology?
When you invest in cloud-based technology, you don’t have to rely so heavily on your IT team to manage and maintain systems. Instead, you benefit from regular updates and maintenance performed by the service provider. For example, to avoid the ongoing implementation and upgrade challenges ERP has historically presented, some companies are choosing cloud-based ERP or software as a service (SaaS). As with cloud storage, the cloud ERP provider assumes the costs otherwise borne by IT to build and maintain infrastructure. A cloud-based ERP system provides all of the benefits of ERP without requiring dedicated IT infrastructure or staff, and frees those resources to be used in other IT tasks.
Question #4: Will I know how to leverage data to make more informed decisions?
Yes! Epicor can provide you the knowledge, training, and documentation you need to understand how to use data to change, improve, and grow your business
.
One Smart Way to Tackle Three Industry 4.0 Challenges
Download Now
How Epicor Can Help Your Business
Epicor can help you implement Industry 4.0 technology into your manufacturing business. We provide flexible, industry-specific software that is designed around the needs of our manufacturing, distribution, retail, and service industry customers. To learn more about how we can help you and your business, explore our business solutions page.
The image below illustrates why more companies are working with us to invest in smart manufacturing and build factories of the future:
Wrapping up
To build a sustainable, scalable enterprise in today’s business environment, you need to use tools that help you streamline tasks, boost productivity and collaboration, and leverage data in real time. Industry 4.0 solutions from Epicor can put you on the right track. Ready to make the investment? Get started.
https://www.epicor.com/en-us/resource-center/articles/what-is-industry-4-0/
What is Industry 4.0—the Industrial Internet of Things (IIoT)?
Industry 4.0 refers to a new phase in the Industrial Revolution that focuses heavily on interconnectivity, automation, machine learning, and real-time data. Industry 4.0, which encompasses IIoT and smart manufacturing, marries physical production and operations with smart digital technology, machine learning, and big data to create a more holistic and better connected ecosystem for companies that focus on manufacturing and supply chain management. While every company and organization operating today is different, they all face a common challenge—the need for connectedness and access to real-time insights across processes, partners, products, and people.
That’s where Industry 4.0 comes into play.
Industry 4.0 isn’t just about investing in new technology and tools to improve manufacturing efficiency—it’s about revolutionizing the way your entire business operates and grows. This resource will provide you with an in-depth overview on the topic of Industry 4.0 and IIoT, including information on the following:
- The Evolution of Industry from 1.0 to 4.0
- Basic IIoT Concepts and Glossary of Terms
- Smart Manufacturing Use Cases
- Whom is Industry 4.0 For?
- Benefits of Adopting an Industry 4.0 Model
- Challenges to Consider and Overcome
- How Epicor Can Help Your Business
Evolution of Industry from 1.0 to 4.0
Before digging too much deeper into the what, why, and how of Industry 4.0, it’s beneficial to first understand how exactly manufacturing has evolved since the 1800s. There are four distinct industrial revolutions that the world either has experienced or continues to experience today.
The First Industrial Revolution
The first industrial revolution happened between the late 1700s and early 1800s. During this period of time, manufacturing evolved from focusing on manual labor performed by people and aided by work animals to a more optimized form of labor performed by people through the use of water and steam-powered engines and other types of machine tools.
The Second Industrial Revolution
In the early part of the 20th century, the world entered a second industrial revolution with the introduction of steel and use of electricity in factories. The introduction of electricity enabled manufacturers to increase efficiency and helped make factory machinery more mobile. It was during this phase that mass production concepts like the assembly line were introduced as a way to boost productivity.
The Third Industrial Revolution
Starting in the late 1950s, a third industrial revolution slowly began to emerge, as manufacturers began incorporating more electronic—and eventually computer—technology into their factories. During this period, manufacturers began experiencing a shift that put less emphasis on analog and mechanical technology and more on digital technology and automation software.
The Fourth Industrial Revolution, or Industry 4.0
In the past few decades, a fourth industrial revolution has emerged, known as Industry 4.0. Industry 4.0 takes the emphasis on digital technology from recent decades to a whole new level with the help of interconnectivity through the Internet of Things (IoT), access to real-time data, and the introduction of cyber-physical systems. Industry 4.0 offers a more comprehensive, interlinked, and holistic approach to manufacturing. It connects physical with digital, and allows for better collaboration and access across departments, partners, vendors, product, and people. Industry 4.0 empowers business owners to better control and understand every aspect of their operation, and allows them to leverage instant data to boost productivity, improve processes, and drive growth.
Industry 4.0— Where is This Revolution Going?Download Now
Basic IIoT Concepts and Glossary of Terms
There are hundreds of concepts and terms that relate to IIoT and Industry 4.0, but here are 12 foundational words and phrases to know before you decide whether you want to invest in Industry 4.0 solutions for your business:
- Enterprise Resource Planning (ERP): Business process management tools that can be used to manage information across an organization.
- IoT: IoT stands for Internet of Things, a concept that refers to connections between physical objects like sensors or machines and the Internet.
- IIoT: IIoT stands for the Industrial Internet of Things, a concept that refers to the connections between people, data, and machines as they relate to manufacturing.
- Big data: Big data refers to large sets of structured or unstructured data that can be compiled, stored, organized, and analyzed to reveal patterns, trends, associations, and opportunities.
- Artificial intelligence (AI): Artificial intelligence is a concept that refers to a computer’s ability to perform tasks and make decisions that would historically require some level of human intelligence.
- M2M: This stands for machine-to-machine, and refers to the communication that happens between two separate machines through wireless or wired networks.
- Digitization: Digitization refers to the process of collecting and converting different types of information into a digital format.
- Smart factory: A smart factory is one that invests in and leverages Industry 4.0 technology, solutions, and approaches.
- Machine learning: Machine learning refers to the ability that computers have to learn and improve on their own through artificial intelligence—without being explicitly told or programmed to do so.
- Cloud computing: Cloud computing refers to the practice of using interconnected remote servers hosted on the Internet to store, manage, and process information.
- Real-time data processing: Real-time data processing refers to the abilities of computer systems and machines to continuously and automatically process data and provide real-time or near-time outputs and insights.
- Ecosystem: An ecosystem, in terms of manufacturing, refers to the potential connectedness of your entire operation—inventory and planning, financials, customer relationships, supply chain management, and manufacturing execution.
- Cyber-physical systems (CPS): Cyber-physical systems, also sometimes known as cyber manufacturing, refers to an Industry 4.0-enabled manufacturing environment that offers real-time data collection, analysis, and transparency across every aspect of a manufacturing operation.
Smart Manufacturing Use Cases
One of the best ways to understand the concept of smart manufacturing better is to think about how it could be applied to your business, or a business similar to your business. Here are three use cases that can help you understand the value of Industry 4.0 in a manufacturing operation:
- Supply chain management and optimization—Industry 4.0 solutions give businesses greater insight, control, and data visibility across their entire supply chain. By leveraging supply chain management capabilities, companies can deliver products and services to market faster, cheaper, and with better quality to gain an advantage over less-efficient competitors.
- Predictive maintenance/analytics—Industry 4.0 solutions give manufacturers the ability to predict when potential problems are going to arise before they actually happen. Without IoT systems in place at your factory, preventive maintenance happens based on routine or time. In other words, it’s a manual task. With IoT systems in place, preventive maintenance is much more automated and streamlined. Systems can sense when problems are arising or machinery needs to be fixed, and can empower you to solve potential issues before they become bigger problems. Predictive analytics allow companies to not just ask reactive questions like, “what has happened?,” or “why did it happen?,” but also proactive questions like, “what is going to happen,” and, “what can we do to prevent it from happening?” These type of analytics can enable manufacturers to pivot from preventive maintenance to predictive maintenance.
- Asset tracking and optimization—Industry 4.0 solutions help manufacturers become more efficient with assets at each stage of the supply chain, allowing them to keep a better pulse on inventory, quality, and optimization opportunities relating to logistics. With IoT in place at a factory, employees can get better visibility into their assets worldwide. Standard asset management tasks such as asset transfers, disposals, reclassifications, and adjustments can be streamlined and managed centrally and in real time.
Who Is Industry 4.0 Right For?
How do you know when or if your business should invest in Industry 4.0?
If you’re able to check off most of the items on this list, it’s probably safe to start evaluating Industry 4.0 technology and solution providers and allocating the resources needed for deployment:
- You’re in a particularly competitive industry with a lot of tech-savvy players
- You’re having a hard time recruiting to fill vacant jobs at your organization
- You want better visibility across your supply chain
- You want to identify and address issues before they become bigger problems
- You want to boost efficiency and profitability across your entire organization
- You want everyone on your team to have informed, up-to-date, relevant views of production and business processes
- You want richer and more timely analytics
- You need help digitizing and making sense of information
- You want to improve customer satisfaction and customer experience
- You want to improve product quality or keep product quality intact
- You want a more integrated enterprise resource planning system that spans not only inventory and planning, but also financials, customer relationships, supply chain management, and manufacturing execution
- You want a consistent and flexible view of production and business operations tailored to specific areas or users in your organization
- You want real-time insights that help you make better, faster decisions about your business each day
How Digital Transformation and ERP Can Help You Build Your Factory of the FutureDownload Now
Benefits of Adopting an Industry 4.0 Model
Industry 4.0 spans the entire product life cycle and supply chain— design, sales, inventory, scheduling, quality, engineering, and customer and field service. Everyone shares informed, up-to-date, relevant views of production and business processes—and much richer and more timely analytics.
Here is a quick, non-exhaustive list of some of the benefits of adopting an Industry 4.0 model for your business:
- It makes you more competitive, especially against disruptors like Amazon. As companies like Amazon continue to optimize logistics and supply chain management, you need to be investing in technology and solutions that help you improve and optimize your own operation. To stay competitive, you have to have the systems and processes in place to allow you to provide the same level of service (or better) to your customers and clients that they could be getting from a company like Amazon.
- It makes you more attractive to the younger workforce. Companies that invest in modern, innovative Industry 4.0 technologies are better positioned to attract and retain new workers.
- It makes your team stronger and more collaborative. Companies that invest in Industry 4.0 solutions can increase efficiency, boost collaboration between departments, enable predictive and prescriptive analytics, and allow people including operators, managers, and executives to more fully leverage real-time data and intelligence to make better decisions while managing their day-to-day responsibilities.
- It allows you to address potential issues before they become big problems. Predictive analytics, real-time data, internet-connected machinery, and automation can all help you be more proactive when it comes to addressing and solving potential maintenance and supply chain management issues.
- It allows you to trim costs, boost profits, and fuel growth. Industry 4.0 technology helps you manage and optimize all aspects of your manufacturing processes and supply chain. It gives you access to the real-time data and insights you need to make smarter, faster decisions about your business, which can ultimately boost the efficiency and profitability of your entire operation.
Challenges to Consider and Overcome
As you consider whether or not to invest in Industry 4.0, you may be thinking about some of the potential challenges associated with incorporating new technology and processes into your organization. You’re not alone. Here are some of the most common questions that most business owners think about when it comes to smart manufacturing:
Question #1: Will our business data and customer information be safe?
As the threat of cyber-hacking continues to intensify each year, many businesses are worried that investing in cloud-based technology and moving data out from behind their own walls will leave their businesses and data vulnerable to attackers. Epicor keeps information safe and secure by leveraging deep security expertise and deploying stringent cyber-security measures for all customers that invest in Industry 4.0 technology.
Question #2: Will I be able to get support from my team?
The short answer to this question is yes. While implementing new technology and a new business model can be hard for some people to accept and adopt, you can ultimately get support from your team by clearly setting expectations up front, stating the purpose and benefits of investing in Industry 4.0 technology, and being open and transparent with your team throughout the entire implementation process.
Question #3: Do we have the resources and staff to implement and manage this technology?
When you invest in cloud-based technology, you don’t have to rely so heavily on your IT team to manage and maintain systems. Instead, you benefit from regular updates and maintenance performed by the service provider. For example, to avoid the ongoing implementation and upgrade challenges ERP has historically presented, some companies are choosing cloud-based ERP or software as a service (SaaS). As with cloud storage, the cloud ERP provider assumes the costs otherwise borne by IT to build and maintain infrastructure. A cloud-based ERP system provides all of the benefits of ERP without requiring dedicated IT infrastructure or staff, and frees those resources to be used in other IT tasks.
Question #4: Will I know how to leverage data to make more informed decisions?
Yes! Epicor can provide you the knowledge, training, and documentation you need to understand how to use data to change, improve, and grow your business
.
One Smart Way to Tackle Three Industry 4.0 Challenges Download Now
How Epicor Can Help Your Business
Epicor can help you implement Industry 4.0 technology into your manufacturing business. We provide flexible, industry-specific software that is designed around the needs of our manufacturing, distribution, retail, and service industry customers. To learn more about how we can help you and your business, explore our business solutions page.
The image below illustrates why more companies are working with us to invest in smart manufacturing and build factories of the future:
Wrapping up
To build a sustainable, scalable enterprise in today’s business environment, you need to use tools that help you streamline tasks, boost productivity and collaboration, and leverage data in real time. Industry 4.0 solutions from Epicor can put you on the right track. Ready to make the investment? Get started.
Knoxville's Joker
Has No Life - Lives on TB
The plus side on what manufacturing and menial labor that can be automated is that there will be more standardization of processes and fewer product and delivery issues.
Knoxville's Joker
Has No Life - Lives on TB
OK, this popped up on my news feeds. McDonald's irst fully automated restaurant opened in Texas
View: https://www.youtube.com/watch?v=XxPvriEIOTw
9m39s
9m39s
intothatgoodnight
. . .
The Greeks also had the blueprints of a steam engine that could have worked, according to the blueprints - never made it into production.
Primitive understandings of the material sciences needed were a likely significant contributing cause.
Political and cultural controlling forces also represented additional hurdles.
Then, who would have funded and sustained the likely extended R&D period time interval, from blueprint to working prototype? (as our own MIC has done, repeatedly, over the last 50+ decades - of which the tech was released into the public sphere once the fundamentals were ascertained and ironed out - and which the material sciences required were also refined and noted - to include the spin-off tech derived from classified tech source - cell phones, anyone?)
intothegoodnight
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Knoxville's Joker
Has No Life - Lives on TB
For now my read on things is that AI and robots will reduce critical/chronic staff shortages, to annoying staff shortages. It will be 5 years before we see any larger mass layoff results. 10 years we will start to see some of the more physical jobs automated out with robots, but there will still have to be a human element. Our ability to abstract is not something that is going to be replicatable for a few years at least in some disciplines.
Construction and landscaping for example will require a human piece to interact with the customer, but all the menial and labor pieces would be automated, but that is a decade or two away by my estimates. Fast food and the retail service industry wanted to automate in the 70s/80s but the tech was not there yet, it is now. So we will will start seeing lots of automation in kitchens and serving roles starting now, but COVID pushed that back a couple years at least due to supply chain bottlenecks and the EUV manufacturing shortfall in capacity needed for AI chips...
Not to mention the 2000 or so yes, a couple thousand of AI tools dropped to the market in March. So we will see a lot of white collar jobs disappear in the coming months as well.
The core is that jobs that require massive amounts of critical thinking and abstract understanding/design ability, those will not be eliminated for a couple of decades if ever. You do not want skynet launching nukes, you want POTUS doing that for example.
Meemur
Voice on the Prairie
Yes and no. We're headed into a major recession and new tech (or updating existing tech) is expensive. Couple that with there being a dearth of people talented enough to keep the robots going, which is becoming a real problem. I wrote about the Walmart robot that worked for several weeks and then ended up in a corner for 8 months. It's gone now.
Maybe the robots work here and there in the US (mostly auto manufacturing), but overall, I believe that they are a failure at this time, not to mention some of the laid-off workers are going after Amazon fullfillment center bots. Let's just say that Mike the Minimum Wage Guy, can't repair a shorted out robot with his trusty pocket knife.
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Melodi
Disaster Cat
They did build them. A large one opened a temple door, a smaller one operated a slot machine for Temple tokens and a small one also entertained rich dinner guests with "the theater with no actors." Atomatons or puppets went around in a circle sort of Iike the Small World show at Disney Land. I think there were plans for an automatic wine fountain also for dinner parties. So the technology was used but not for industry or transport. At least not that we know of. The history channel has a great series on this,it may be on YouTube.
They did have blueprints for more advanced stuff but funding beyond toys or religion seems to have been a problem.
marsh
On TB every waking moment
CHAT GPT type AI will begin to take over more of the professional tasks. I read a post by an attorney who said the public was not yet aware of how much of their work could now be replaced by direct access through CHAT GPT. I think you will see accounting and other professions dramatically changed or eliminated. Anyone who uses online TurboTax can see how tax preparation has become computerized. With the data profile the government is building on everyone, soon they will just calculate and deduct the tax from your private account and leave it to you to contest through proof.
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Those wishing for more AI in their lives will reap what they sow, they will become superfluous as the AI doesn't need to be paid a working wage and will get to the point that they will do their own coding, control everyone through ESG mandates, and will eventually self-repair thereby making the need for human controllers few and far between. No, it won't happen overnight but it isn't in the far-flung future either.
vector7
Dot Collector
Have It Your Way! McDonald’s first fully automated restaurant —with no human contact in Fort Worth!
Electric cars, remote work, and even electric homes are all examples of how technology is transforming the world.McDonald’s has now taken the initiative to make the lives of their customers easier and more convenient by introducing technology-driven solutions.
The business is opened its first fully functional-based technology restaurant, making it possible for North Texas residents to access their meals without having to interact with a person – only with a robot.
View: https://twitter.com/WallStreetSilv/status/1649488657475051521?s=20
Blacknarwhal
Three-Time Trump Voter
Have a look at Marshall Brain's "Manna".
The question is, do you want to live in government subsidized housing while Joe Garcia ends up with all the money because he automated first, or is there another way?
Manna – Two Views of Humanity’s Future – Chapter 1 | MarshallBrain.com
marshallbrain.com
Knoxville's Joker
Has No Life - Lives on TB
Miso robotics may become a dud if things do not change. They were hoping the robotics market costs would go down I think.
Little update on Miso robotics I found:
View: https://www.reddit.com/r/MisoRobotics/comments/15fujpa/i_checked_out_misos_2023_sec_filing_and_oh_my_god/
https://www.reddit.com/r/MisoRobotics/
Preface, I've been a Miso investor since 2019 and am heavily invested in the start-up. So it brings me NO joy to report that things don't look promising which explains why ex-CEO Mike Bell is out, and why their strategy guy Jake Brewer left a while back to take up a VC job.
Here's Miso's recent SEC filing to go along with their latest raise. I read it so you don't have to. Here's everything that has me souring on the start-up. If anyone from the company wants to respond or better yet, host a video chat for investors, by all means I'm here for it. They've been silent for the year and now I understand why. Start-up investing is risky and it seems like they fumbled this bag hard.
As of July 17, 2023, the Company currently has 16 Flippy units deployed and expects to deploy an additional 9 Flippy units before the end of 2023. 25 units by EOY We've been at this since 2019. And on the website it says they're deploying one a week so what is the truth?? I'd like to know if units have been deployed and ripped out because they suck so much?
During 2022, research and development costs totaled $20,150,944 compared to $11,172,891 for the period ended December 31, 2021. This increase in spending was primarily attributed to the research and development costs associated with our new product line, Chippy. Guys, there is 1 Chippy deployed—ONE. And they spent $10 million developing it. And from Chipotle's latest messaging during the introduction of Buck Jordan's Autocado machine, Chippy has MONTHS to go before a purchase decision will be made.
The majority of our current and historical revenue is highly concentrated in two customers, Caliburger and White Castle. Both the CaliBurger and White Castle announcements were made eons ago. How has Miso not signed up new customers and how have customers only received 16 units? Mike talked about the Miso pipeline being robust... okay, where are the customers and sales? My guess, Flippy 2 hasn't been ready for prime time so customers aren't placing real orders.
Total operating expenses 2022 $45,017,253. The Company generated $272,850 in net revenue, $45 million dollars to make $277K. Is Miso just a front?? Their operating expense basically doubled in a year with little to show for it.
During 2023, we have decided to deprioritize scaling and instead invest heavily on improving reliability for our existing customers What scale?? There aren't even two dozen units deployed. Again, this statement reiterates my belief that Flippy 2 in the field sucks ass and so Miso hasn't been able to sign up customers.
Sales and marketing costs were $12,274,789 for the period ended December 31, 2022 I'm aware, most of the sales and marketing costs are about marketing their crowdfunding raises and not the product. Maybe they should switch things up and steer money to locking in paying customers. Still, $12 million is a shit ton of money for what they got in 2022 revenue.
In March 10, 2023 Miso and EcoLab, Inc. entered into a stock purchase agreement whereby EcoLab and the Company agreed to sell and issue 3,015,323 shares of Series A-1 Preferred Shares for a total purchase price of $15,000,000. At the current run rate, they'll burn through this $15 million in months. Again, what happened to cost discipline at this company?
We also expect to reduce costs associated with payroll following a reduction in headcount by about 30% that occurred in May 2023. Layoffs already for a "growth company", ****.
I was told pilot programs would be 6-9 months. We're approaching over 2 years for many of these.
Sippy is still being developed by our team and has not yet been delivered to a corporate partner for testing. Additionally, we may not be able to make a transition to mass production, either via in house manufacturing or contract manufacturers. Sippy was originally coming in 2022 now on the site it says 2023 which they should delete because something tells me this product is never going to see the light of day.
On January 31, 2023, a former employee filed a legal claim against the Company in Los Angeles County Superior Court for wrongful termination. I'm just curious about this so if anyone has any sleuthing skills, can you post what's this all about as it could potentially be costly for the company?
In order to continue to operate and grow the business, we will likely need to raise additional capital beyond this current financing round by offering shares of our Common or Preferred Stock and/or other classes of equity No shit. I remember Mike spewing "get in on this last round because there's no guarantee we'll open up again." Bruh, they have no choice but to keep raising because at the rate they're deploying units, they'll run out of money long before they receive enough revenue to cover a week of expenses.
The Company generated $272,850 in net revenue, compared to $31,650 the year prior. Okay 900% growth is actually good although the starting point was laughably low. Plus, the revenue is a pittance compared to the monthly cash burn. But if the company can avoid bankruptcy while sustaining this growth then maybe IPO in 2030. Although, I can't say I have high hopes in the new CEO, the producer of teen classic She's All That, but I really really really hope he proves me wrong. So if you're reading this Mr. Hull, good luck. Looks like you'll need it.
edit July 2024: Scroll down to see my most recent comments
https://www.reddit.com/user/Big_Potential_2000/
Thanks for asking. There’s been a lot of FUD surrounding this company and I think the new CEO waiting a very long time before connecting with us investors played a huge part in it. Communication is key to all relationships.
That said, while I hate how this company is about 2 years behind schedule on their scaling plans, I’m optimistic due to the release of Next Gen Flippy scheduled for release later this year. It’s supposed to be much smaller, cheaper to build, and more reliable making it a better fit for restaurants.
So while others on this board are screaming we’ve been scammed, I think Miso just blew it in 2022/2023 by overspending, getting distracted on too many side projects (sippy, chippy, etc), and releasing a flagship product that wasn’t up to the task.
My fingers are crossed for the new management team and I’m cautiously optimistic the new Flippy will be the answer to all our prayers… time will tell.
Little update on Miso robotics I found:
View: https://www.reddit.com/r/MisoRobotics/comments/15fujpa/i_checked_out_misos_2023_sec_filing_and_oh_my_god/
https://www.reddit.com/r/MisoRobotics/
I checked out Miso's 2023 SEC filing and OH MY GOD it's full of red flags
Preface, I've been a Miso investor since 2019 and am heavily invested in the start-up. So it brings me NO joy to report that things don't look promising which explains why ex-CEO Mike Bell is out, and why their strategy guy Jake Brewer left a while back to take up a VC job.
Here's Miso's recent SEC filing to go along with their latest raise. I read it so you don't have to. Here's everything that has me souring on the start-up. If anyone from the company wants to respond or better yet, host a video chat for investors, by all means I'm here for it. They've been silent for the year and now I understand why. Start-up investing is risky and it seems like they fumbled this bag hard.
As of July 17, 2023, the Company currently has 16 Flippy units deployed and expects to deploy an additional 9 Flippy units before the end of 2023. 25 units by EOY We've been at this since 2019. And on the website it says they're deploying one a week so what is the truth?? I'd like to know if units have been deployed and ripped out because they suck so much?
During 2022, research and development costs totaled $20,150,944 compared to $11,172,891 for the period ended December 31, 2021. This increase in spending was primarily attributed to the research and development costs associated with our new product line, Chippy. Guys, there is 1 Chippy deployed—ONE. And they spent $10 million developing it. And from Chipotle's latest messaging during the introduction of Buck Jordan's Autocado machine, Chippy has MONTHS to go before a purchase decision will be made.
The majority of our current and historical revenue is highly concentrated in two customers, Caliburger and White Castle. Both the CaliBurger and White Castle announcements were made eons ago. How has Miso not signed up new customers and how have customers only received 16 units? Mike talked about the Miso pipeline being robust... okay, where are the customers and sales? My guess, Flippy 2 hasn't been ready for prime time so customers aren't placing real orders.
Total operating expenses 2022 $45,017,253. The Company generated $272,850 in net revenue, $45 million dollars to make $277K. Is Miso just a front?? Their operating expense basically doubled in a year with little to show for it.
During 2023, we have decided to deprioritize scaling and instead invest heavily on improving reliability for our existing customers What scale?? There aren't even two dozen units deployed. Again, this statement reiterates my belief that Flippy 2 in the field sucks ass and so Miso hasn't been able to sign up customers.
Sales and marketing costs were $12,274,789 for the period ended December 31, 2022 I'm aware, most of the sales and marketing costs are about marketing their crowdfunding raises and not the product. Maybe they should switch things up and steer money to locking in paying customers. Still, $12 million is a shit ton of money for what they got in 2022 revenue.
In March 10, 2023 Miso and EcoLab, Inc. entered into a stock purchase agreement whereby EcoLab and the Company agreed to sell and issue 3,015,323 shares of Series A-1 Preferred Shares for a total purchase price of $15,000,000. At the current run rate, they'll burn through this $15 million in months. Again, what happened to cost discipline at this company?
We also expect to reduce costs associated with payroll following a reduction in headcount by about 30% that occurred in May 2023. Layoffs already for a "growth company", ****.
I was told pilot programs would be 6-9 months. We're approaching over 2 years for many of these.
Sippy is still being developed by our team and has not yet been delivered to a corporate partner for testing. Additionally, we may not be able to make a transition to mass production, either via in house manufacturing or contract manufacturers. Sippy was originally coming in 2022 now on the site it says 2023 which they should delete because something tells me this product is never going to see the light of day.
On January 31, 2023, a former employee filed a legal claim against the Company in Los Angeles County Superior Court for wrongful termination. I'm just curious about this so if anyone has any sleuthing skills, can you post what's this all about as it could potentially be costly for the company?
In order to continue to operate and grow the business, we will likely need to raise additional capital beyond this current financing round by offering shares of our Common or Preferred Stock and/or other classes of equity No shit. I remember Mike spewing "get in on this last round because there's no guarantee we'll open up again." Bruh, they have no choice but to keep raising because at the rate they're deploying units, they'll run out of money long before they receive enough revenue to cover a week of expenses.
The Company generated $272,850 in net revenue, compared to $31,650 the year prior. Okay 900% growth is actually good although the starting point was laughably low. Plus, the revenue is a pittance compared to the monthly cash burn. But if the company can avoid bankruptcy while sustaining this growth then maybe IPO in 2030. Although, I can't say I have high hopes in the new CEO, the producer of teen classic She's All That, but I really really really hope he proves me wrong. So if you're reading this Mr. Hull, good luck. Looks like you'll need it.
edit July 2024: Scroll down to see my most recent comments
https://www.reddit.com/user/Big_Potential_2000/
Thanks for asking. There’s been a lot of FUD surrounding this company and I think the new CEO waiting a very long time before connecting with us investors played a huge part in it. Communication is key to all relationships.
That said, while I hate how this company is about 2 years behind schedule on their scaling plans, I’m optimistic due to the release of Next Gen Flippy scheduled for release later this year. It’s supposed to be much smaller, cheaper to build, and more reliable making it a better fit for restaurants.
So while others on this board are screaming we’ve been scammed, I think Miso just blew it in 2022/2023 by overspending, getting distracted on too many side projects (sippy, chippy, etc), and releasing a flagship product that wasn’t up to the task.
My fingers are crossed for the new management team and I’m cautiously optimistic the new Flippy will be the answer to all our prayers… time will tell.
Knoxville's Joker
Has No Life - Lives on TB
Mods, can you please add the original post year and month?
Knoxville's Joker
Has No Life - Lives on TB
I am trying to keep an easier to track progression on things.
Here is an update on Miso Robotics:
www.restaurantdive.com
Dive Brief
Published Dec. 6, 2023 Julie LittmanSenior Reporter
CaliExpress by Flippy, a fully autonomous restaurant, opened December 2023 in California. Retrieved from CaliExpress by Flippy on December 05, 2023
The use of technology also allows the restaurant to offer more expensive wagyu beef blends “at price points competitive with other premium burgers using standard meat,” per the press release. Its menu consists of burgers, cheeseburgers and french fries. An online menu has its hamburgers priced at $7, cheeseburgers at $8 and french fries at $4.50.
The financial savings and streamlined operations offered by robotic makelines are making them popular among U.S. restaurant chains. Remy Robotics opened a bot-run “Better Days” kitchen in New York City over the summer that can cook hundreds of menu items in a 200-square-foot space. Sweetgreen opened its first automated kitchen this year and plans to accelerate the deployment of the technology in 2024. Chipotle is in the process of testing an automated makeline with Hyphen.
“AI-powered, robotic order-taking and cooking enables the major chains that feed America to substantially improve quality, consistency and speed,” Rich Hull, CEO of Miso Robotics, said in a statement.
The location will also provide a “pseudo-museum” experience with Miso Robotics equipment on display, including “dancing robotic arms from retired Flippy units, experiential 3D-printed artifacts from past development” and photo displays.
The restaurant, which is at 561 E. Green Street, is opening with reservations initially but will have a grand opening to follow. The company didn’t respond to questions, including queries about the staffing levels and the possibility of additional locations, by press time.
Here is an update on Miso Robotics:
Miso Robotics to open autonomous restaurant in California
CaliExpress by Flippy was created in partnership with Cali Group and PopID and uses robotic arms to cook burgers and fries, requiring minimal human labor.
Miso Robotics to open autonomous restaurant in California
CaliExpress by Flippy was created by a partnership between the robotics company, Cali Group and PopID. It uses robotic arms to cook burgers and fries, requiring minimal human labor.Published Dec. 6, 2023 Julie LittmanSenior Reporter
CaliExpress by Flippy, a fully autonomous restaurant, opened December 2023 in California. Retrieved from CaliExpress by Flippy on December 05, 2023
Dive Brief:
- CaliExpress by Flippy, a fully automated restaurant created by Cali Group, Miso Robotics and technology firm PopID, is expected to open this month in Pasadena, California, according to a press release.
- The restaurant uses autonomous grill and fry stations that use proprietary artificial intelligence and robotics to cook food, requiring minimal human labor.
- Customers order by creating signing into a PopID account on digital kiosks, after which robots prepare and cook their orders.
Dive Insight:
CaliExpress by Flippy claims that its technology creates a “safer, easier and friendlier kitchen” for employees by nearly eliminating slippage and burns at the fry station. Its creator companies also said it provides above-average wages to employees because the restaurant can be run by a small number of workers.The use of technology also allows the restaurant to offer more expensive wagyu beef blends “at price points competitive with other premium burgers using standard meat,” per the press release. Its menu consists of burgers, cheeseburgers and french fries. An online menu has its hamburgers priced at $7, cheeseburgers at $8 and french fries at $4.50.
The financial savings and streamlined operations offered by robotic makelines are making them popular among U.S. restaurant chains. Remy Robotics opened a bot-run “Better Days” kitchen in New York City over the summer that can cook hundreds of menu items in a 200-square-foot space. Sweetgreen opened its first automated kitchen this year and plans to accelerate the deployment of the technology in 2024. Chipotle is in the process of testing an automated makeline with Hyphen.
“AI-powered, robotic order-taking and cooking enables the major chains that feed America to substantially improve quality, consistency and speed,” Rich Hull, CEO of Miso Robotics, said in a statement.
The location will also provide a “pseudo-museum” experience with Miso Robotics equipment on display, including “dancing robotic arms from retired Flippy units, experiential 3D-printed artifacts from past development” and photo displays.
The restaurant, which is at 561 E. Green Street, is opening with reservations initially but will have a grand opening to follow. The company didn’t respond to questions, including queries about the staffing levels and the possibility of additional locations, by press time.
pauldingbabe
The Great Cat
So the robotics company is branding its "history" in the form of an "experience" fast food joint, that just happens to be run by robots.
They are going to make a fortune.
They are going to make a fortune.