Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor.
Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations.
However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime and no holidays.
Many employers are purchasing robots to take the place of many of their employees that do repetitive or programmable activities.
Robotic worked offers high rates of productivity and no need to worry about human resources regulations. Robots are a worthwhile investment.
Automation in Finance
In finance, automation is the use of software and computers to automate essential finance-related tasks.
Financial businesses have adopted and promoted the use of new artificial intelligence (AI) technologies.
In the early days, AI focused on labor arbitrage and shared services, but fintech soon recognized that process standardization was easily adaptable and could increase their efficiencies.
In no time, computer savvy investors and brokers began developing and implementing automated trading systems and market scanners.
These automated trading systems are programs that allow investors to set rules for entering and exiting trades.
Traders and investors can turn exact entry, exit, and money management rules into automated trading systems that enable computers to perform and monitor transactions.
Once those rules are programmed, a computer can automatically process and open trades based on the limitations built into the program.