The automatic router bit changer makes milling, polishing, and engraving more cost-effective than ever before. The required router bits are automatically moved, clamped, initialized, and cleaned after use. The time required for replacing milling tools is thus significantly reduced. While the cutter is working fully automatically and with maximum efficiency, quality control is ensured at the same time: The permanently installed ITI initialization system controls the zero point after each tool fitting, thereby ensuring a constantly precise milling depth.