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The introduction of robots into businesses actually slows – at least at first, according to a new study. Researchers found that the introduction of robots bring down profit margins. But as they technology becomes better integrated, it will start to rise again, the study found. Researchers believe that U-shaped curve comes about because of reduced costs, new processes and innovative products. When companies first adopt robots with the aim of reducing costs, competitors are able to do the same, and so profit margins do not initially grow. The real profits come, however, when the robots are properly adopted and integrated into the company’s processes, and they can use that new innovation to develop new products, the researchers suggest. Those are the findings from a new study from the University of Cambridge and published in IEEE Transactions on Engineering Management. While robots are known to increase productivity when looking at a whole industry or country, it is less clear whether it helps with profit margins. The researchers set out to answer that question and see whether companies were using robots to improve processes within companies. And they were also looking to understand whether it had followed the same perhaps unexpected trajectory as when computers were first introduced into businesses. “If you look at how the introduction of computers affected productivity, you actually see a slowdown in productivity growth in the 1970s and early 1980s, before productivity starts to rise again, which it did until the financial crisis of 2008,” said co-author Professor Chander Velu from Cambridge’s Institute for Manufacturing. “It’s interesting that a tool meant to increase productivity had the opposite effect, at least at first. We wanted to know whether there is a similar pattern with robotics.” To find out, researchers gathered data for 25 European countries that showed industry-level trends between 1995 and 2017. That data did not include specific companies but did allow them to see whole sectors. They then gathered robotics data from the International Federation of Robotics (IFR). By setting the two against each other, they were able to see how the adoption of robotics changed profit margins. There they found that U-shaped curve: that the adoption of robotics drove down profits, initially, even if it came back eventually. “Initially, firms are adopting robots to create a competitive advantage by lowering costs,” said Velu. “But process innovation is cheap to copy, and competitors will also adopt robots if it helps them make their products more cheaply. This then starts to squeeze margins and reduce profit margin.” Read More Apple planning new version of AirTags – but not for some time Algorithm finds 600-foot, ‘potentially hazardous’ asteroid near Earth Reddit closes Place after obscene protests Apple planning new version of AirTags – but not for some time Algorithm finds 600-foot, ‘potentially hazardous’ asteroid near Earth Reddit closes Place after obscene protests

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President Joe Biden’s offer of a $700 emergency payment to households impacted by the devastating Maui wildfires has been criticised as an insult to survivors. The death toll from the US’s deadliest wildfires in more than 100 years rose to 106 on Wednesday, with hundreds still unaccounted for, thousands left homeless and an estimated $7bn in economic damage. Mr Biden, who has faced criticism for his handling of the disaster, announced an economic relief package on Monday that included cash payments and temporary housing assistance for survivors. “We're laser-focused on getting aid to survivors, including Critical Needs Assistance: a one-time $700 payment per household offering relief during an unimaginably difficult time. “We have staff on the ground dedicated to helping survivors navigate the registration process,” Mr Biden added. A White House statement confirmed the offer was only available to residents who were displaced from their homes and had critical needs. With 1,200 families sheltering in emergency shelters over the weekend, and 2,200 buildings destroyed, it’s not clear how many Hawaiians will be eligible. It was immediately decried as too small to have a meaningful impact by some commentators. “Make it $700 a month. Per family member in a household. For a minimum of two years,” wrote Scott Santens, the director of the ITSA Foundation which backs universal basic income, on X, formerly known as Twitter. “A one time $700 payment will definitely get their lives, houses and property back! Great job Biden,” another user wrote. Many compared the offer unfavourably to the $113bn in aid the Biden administration has sent to Ukraine since February 2022 to support the war effort, with a further $200m approved on Monday. Financial commentator Mark Wlosinski wrote on X estimated the $700 offer would amount to $1.9m, and labelled it “insulting”. “Can someone please explain how our government can send hundreds of billions to other countries, but chooses to pinch pennies when our own people are in need? An entire town on US soil has been destroyed overnight, and the best our government can do is $700?” Actor Rob Schneider, an outspoken anti-vaxxer and Trump supporter, wrote on X: “The ($115bn) US TAX PAYER DOLLARS TO UKRAINE… $1.9 million dollars to American Maui fire victims. Biden hates Americans…” Right-wing commentator Colin Rugg wrote: “Can someone please explain to me why our leaders are so reckless with money sent to Ukraine but then pinch pennies when the money is spent on Americans?” Mr Biden has faced criticism for his response to the Maui fires from his political opponents. He appeared to brush off a White House pool reporter reporter’s questions when asked for a comment on the rising death toll over the weekend. White House press secretary Karine Jean-Pierre addressed the snub on Monday, saying that Mr Biden remained “deeply concerned” about the wildfires. The newly-indicted former President Donald Trump seized on Mr Biden's apparent no comment, claiming the Democrat “refuses to help or comment on the tragedy”. On 9 August, Mr Biden offered his “deepest condolences to the families of those who lost loved ones in the wildfires in Maui” in a statement as the first fatalities were confirmed. The next day he declared a federal disaster in the state, freeing up federal funds to provide grants for temporary housing and home repairs, and low-cost loans to cover uninsured property losses. Mr Biden made brief remarks during a trip to Salt Lake City last week in his only public comments so far about the unfolding tragedy. “Anyone who's lost a loved one, whose home has been damaged or destroyed, is going to get help immediately,” he said. The White House has since touted its “whole-of-government response effort”, which included deploying 500 federal personnel and thousands of meals, beds and litters of water. The Democratic Hawaii governor Josh Green has publicly praised Mr Biden’s response to the disaster. The Independent has approached the White House for comment. Read More Maui fires – update: Hawaii death toll rises to 106 with 1,000 still missing amid struggle to identify victims Dramatic video shows family narrowly escaping Maui wildfires by fleeing to the ocean How to help victims of Hawaii wildfires ‘I think I messed up’: Moment US representative mistakenly introduces Joe Biden Death toll from devastating Maui fire reaches 106, as county begins releasing names Maui fires death toll rises to 106 amid struggle to identify victims – live

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