| The following is an abbreviated version of the Motley Fool's "Industry
Snapshot," an educational subscription product available for delivery via
e-mail or fax. We feel that it is the best tool available for learning how
to invest in stocks. A sample of the full length subscription product is
available for download, as well as details surounding its genesis. To the
right subscribers and non-subscribers alike are invited to peruse the company's
that are featured in this week's Industry Snapshot. In addition, we urge
existing subscribers to take advantage of "Subscribers Online," it's chock
full of helpful research and follow-up information on the industries and
companies featured in previous Snapshots.
Every week we will offer up a taste of what is available to Industry Snapshot
subscribers by providing a short summation of the industry and the companies
that appear in the most curent issue. This week, IS takes a look at machine
vision companies. |
Cognex
Corporation
Electro Scientific Industries,
Inc.
MVSI, Inc.
Perceptron, Inc.
PPT Vision, Inc.
Robotic Vision Systems,
Inc.
|
Historically there have been two very distinct and antagonistic currents
in the literature of popular futurists. The "Brave New World" variety emphasizes
the de-humanizing aspects of technology and the subsequent automation that
displaces workers and engenders Marx-like alienation. This view contrasts
with that of the visionaries who see a world where robots and replicas of
humans perform tasks of mind-numbing routine and hazard, liberating their
human counterparts.
The development of artificial sensory perception -- connecting a machine
with its environment -- has proven to be a grand step in the evolution of
artificial systems. Smoke detectors "smell," voice recognition and alarm
activation systems "hear," blood separation equipment "tastes," robot arms
"feel," and now machine vision systems "see."
It would seem that the previously articulated positions, both of the apocalyptic
and non-doomsday variety, have been realized simultaneously. Ultimately you
still might lose your job to a robot, but the first commercial applications
of machine vision technology involve taking over jobs that humans definitely
won't miss.
Machine Vision
Robots and automated inspection systems entered the manufacturing sector
in the early eighties, initially only taking on repetitive and predictable
tasks. If a part on an assembly line was out of place or if any two parameters
in a process were misaligned, that automated manufacturing process would
break down. The advent of practical, real time machine vision in the late
eighties enabled robots to precisely measure where the next part they had
to contact was located, adjusting their control inputs accordingly. In addition,
machine vision systems were employed to read alphanumeric characters, detect
flaws, and measure dimensions with a speed and accuracy unmatched by random
sampling and human vision inspection.
At its most fundamental, a machine vision system is a combination of cameras,
lighting, and proprietary computer hardware and software, working together
to capture and analyze images of moving parts to determine if the parts match
a defined standard. The principal applications of machine vision technology
have been implemented in the manufacturing arena where the quest for productivity
improvements constitutes the largest portion of the typical capital spending
dollar. The industries that have been quick to capitalize on machine vision
technology include: the semiconductor and electronics industries, the automotive
industry, the aerospace and metal fabrication industries, the pharmaceutical
and specialty tool industries, and the wood products industry. Each industry
has its own unique dynamic and rationale for utilizing machine vision systems.
(c) Copyright 1997, The Motley Fool. All rights reserved. This
material is for personal use only. Republication and redissemination, including
posting to news groups, is expressly prohibited without the prior written
consent of The Motley Fool. |