EdgeArticles

Meaning

The term “Robots” has been with humans for quite a long time; most especially from movies where you can see them do all the amazing things humans wouldn’t have been able to do. They are so famous and probably don’t need any special introduction, but they are more than what we see on our screens, and with the extensive use of this machines, it is only practical to know what exactly a robot is.

In the simplest of definition, robots are automated machines usually equipped with features similar to that of humans (arms and legs) and can carry out a particular task based on the instructions programmed for it. In other words, it is any programmable machine that can perform different functions. Their importance is on the rise and in industries where the tasks carried out by the workers are dangerous; now use robots as a replacement.

Advantages

Their importance is enormous, and some of the most obvious ones are listed below;

1. For exploration: robots are now sent to places that were once too dangerous for humans to explore. Now we know more about our surroundings thanks to robots.
2. Highly efficient: robots are highly skilled and perform any task with precision and accuracy.
3. Reduced the cost of production: with the speed and accuracy of robots, the cost of producing goods and services has significantly been reduced.
4. Automated: robots are programmed devices and as such don’t need human support to carry out their designated roles.
5. Increased productivity: design to carry out repetitive tasks without any problems, robots help to improve the productivity of a company.
6. In healthcare and medicine: robots are now used to carry out complicated surgical procedures more
   efficiently now in some hospitals.
7. On warfare: the use of robots in warfare has helped reduced the number of lives lost.
8. Extreme environments: robots, unlike humans, can withstand harsh environment and provide optimum results.
9. Better utilization of space: in the manufacturing industry, the use of robots helps in maximizing space as one robot can be responsible for the jobs of ten or more people.
10. Complete task humans are unwilling to carry out: some robots are sent to outer space to carry out investigations never to return.
11. Robots don’t need breaks and as such can work for long hours non-stop.
12. Robot helps to increase the safety of the workplace.
13. Robots are used in the agricultural industry to make task faster.
14. Robots are stronger than human.
15. Robots come in different sizes to suit the specific needs.

Disadvantages

Well for every advantage, the is sure disadvantages and robots have their fairshare;

1. The use of robots leads to the loss of jobs by human workers.
2. Robots are limited to what they were programmed to do only.
3. They lack intelligence and as such can’t improve on their task.
4. No emotions or feelings.
5. Robots can be dangerous to humans.
6. They need a constant supply of power.
7. The high cost of maintenance.
8. They can’t compare to the efficiency of the human brain.
9. The additional cost of hiring staffs.

In conclusion, there are so many advantages to having a robot around as there are disadvantages, so it boils down to what you have to gain or lose when deciding to get one.

By Jay Kuch.

Gold investment is rapidly gaining popularity. That doesn’t come as a surprise. Since time immemorial, the value of gold has been indisputable. Equally important, it keeps increasing which explains the interest that many investors have about it. Are you planning to be part of those entrepreneurs? If the answer is a resounding yes, this article has you covered. It talks about gold investment. In addition to that, it highlights its advantages and disadvantages.

What is Gold Investment? – Meaning

As the name suggests, it is investing in gold. Therefore, instead of investing in funds, stocks, and shares among others, you will choose it as your asset. It is a broad area with several options. They include Bullions whether bars or coins and jewelry. In other cases, you can exploit its market through engagements in gold mining stocks as well as Gold Exchange Traded Funds (ETFs). Once you settle for gold investment, there will be advantages and disadvantages of the same. Check them out!

Advantages of Gold Investment

• The demand for gold is always high.
• Regardless of the geographical location, gold’s value and quantity remain the same.
• Gold investment’s liquidity is undeniable.
• Gold is limited to mining. Therefore, unlike money, not even the government can reproduce it.
• It has a global acceptance which enlarges the market beyond boundaries.
• Its quantity remains the same. That is regardless of the time since purchase.
  Gold doesn’t expire.
• Expect neither spoilage nor destruction.
• As compared to others such as stocks, gold investment is relatively safe.
• Drastic price changes are rare.
• There is ease of buying and selling especially gold coins.
• Gold ownership brings satisfaction and pride.
• You can test gold which minimizes fraud.
• Both experts and novices can easily indulge in gold investment.
• It is an ideal option for investment diversification.

Disadvantages of Gold Investment

• Gold has a high risk of theft.
• It is a bad idea to consider the gold investment for short-term plans.
• Failure to test gold can result in settling for counterfeit.
• Buying it needs substantial capital.
• For safety, gold’s storage, as well as insurance, is expensive.
• The future of gold investment is uncertain.
• If you settle for the gold ETFs, you may incur brokerage fees.
• The profits are irregular.
• Its price’s increase depends on demand since it has no interest.
• Gold investment is not a passive business venture thus you only earn by selling it.
• You can only exchange gold for money.
• You can incur a loss if you buy it at a relatively high price.
• Commissions that gold sellers demand are high too.
• The international markets have a significant impact on its price. For instance, the stronger the dollar, the lower the costs.
• There are high chances of government interventions.

Final Words

The discussion above points out the advantages and disadvantages of gold investment. Before embarking on the venture, it is crucial to weigh the above. However, don’t forget that every business involves risk.

By Maureen Muriuki

Meaning

An electronic funds transfer, or EFT, refers to the act of transferring money from one account to other electronically by using a computer or mobile network.

EFT has truly revolutionized the way banks run today. An Electronic funds transfer is blindingly faster than transacting via a check. Various leading e-commerce sites such as Amazon, eBay, Flipkart and others are a glowing testimony to the extensive use of technologies such as Electronic Data Exchange (EDI) and Electronic Funds Transfer (EFT).

EFT covers some of the most widely accepted payment systems in vogue including payment cards (credit & debit cards), SWIFT, Online Banking, Mobile Banking, NEFT (National Electronic Funds Transfer), and RTGS (Real Time Gross Settlement) to name a few.Advantages:

• Saves time by simplifying the payment process.
• Convenience: Can be done sitting comfortably at home
• Saves money through cashback & discount
• Safe & secure
• Works 24/7
• Cash flow management
• Paperless
• Faster
• User-friendly
• Anytime, anywhere banking
• Helps in customer loyalty & retention
• Efficient
• No fear of loss or destruction
• Widely accepted by all
• Makes traditional Branch Banking redundant

Disadvantages

However, there are a few drawbacks too as far as EFTs are concerned. Some of them are:

• Highly technical. Not for everyone
• Fear of account being hacked
• Enhanced privacy breach risk
• Limit on daily transactions
• Limit on the maximum amount to be withdrawn daily
• Chances of identity theft by unscrupulous elements
• Needs a computer terminal or access to the internet at all times
• Crimes like phishing, credit cards theft have increased
• Leads to impulse buying behavior
• Not for illiterates
• Fraudulent bank websites are on the rise
• Dependency on the power supply
• Some might prefer paper money to “virtual currency”
• Decreased human interactions
• Over-reliance on technology

Conclusion

It is not completely unfair to say that EFTs have brought a fundamental change in the manner business is done around the globe. One can only agree that EFT is one of the most telling inventions of the modern era.

– By Abhishyand Kumar