Automation Stocks List

Automation

Automation is the technology by which a process or procedure is performed with minimum human assistance. Automation or automatic control is the use of various control systems for operating equipment such as machinery, processes in factories, boilers and heat treating ovens, switching on telephone networks, steering and stabilization of ships, aircraft and other applications and vehicles with minimal or reduced human intervention. Some processes have been completely automated.
Automation covers applications ranging from a household thermostat controlling a boiler, to a large industrial control system with tens of thousands of input measurements and output control signals. In control complexity it can range from simple on-off control to multi-variable high level algorithms.
In the simplest type of an automatic control loop, a controller compares a measured value of a process with a desired set value, and processes the resulting error signal to change some input to the process, in such a way that the process stays at its set point despite disturbances. This closed-loop control is an application of negative feedback to a system. The mathematical basis of control theory was begun in the 18th century, and advanced rapidly in the 20th.
Automation has been achieved by various means including mechanical, hydraulic, pneumatic, electrical, electronic devices and computers, usually in combination. Complicated systems, such as modern factories, airplanes and ships typically use all these combined techniques. The benefit of automation include labor savings, savings in electricity costs, savings in material costs, and improvements to quality, accuracy and precision.
The World Bank's World Development Report 2019 shows evidence that the new industries and jobs in the technological sector outweigh the economic effects of workers being displaced by automation.The term automation, inspired by the earlier word automatic (coming from automaton), was not widely used before 1947, when Ford established an automation department. It was during this time that industry was rapidly adopting feedback controllers, which were introduced in the 1930s.

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