Artificial intelligence and robotics are growing fast. Globally there are now 113 installed industrial robots per 10,000 employees in the manufacturing sector — that’s an increase from 74 just four years ago. South Korea leads, with 855 installed robots per 10,000 employees.
With the popularization of mobile robotics in a wide range of industries, more organizations will store the collected data from these robots in public cloud services, and then use that data to train more advanced AI algorithms that enable robot cognition.
An intelligent robot that works independently 21.5 hours a day is helping scientists at the University of Liverpool with their research. Using artificial intelligence (AI), a flexible arm and a customized gripper, it could speed up scientific discovery and give researchers more time to think creatively.
Some technology sector M&A activity is relatively immune to market disruptions. The robotics industry received significant investment in 2019, reaching $46 billion. A total of $17.8 billion went to acquisitions and a further $29 billion went into investments, according to ABI Research.
A recent study finds that low-skilled workers are more at risk from displacement by robots than high-skilled workers — 1987 was a key inflection point in the U.S. when jobs lost to automation stopped being replaced by an equal number of similar workplace opportunities.
In 2018, there were more than 40,000 industrial robots deployed across U.S. factories — a 22% increase from the year prior. The World Economic Forum’s ‘Future of Jobs’ report noted that machines and algorithms will contribute 42% of total task hours in 2022.
Global spending on robotic systems and drones will reach $128.7 billion in 2020 — that’s an increase of 17.1 percent over 2019, according to IDC. By 2023, IDC expects the investment will reach $241.4 billion with a compound annual growth rate (CAGR) of 19.8 percent.
“Three of the jobs in the World Economic Forum’s ‘Jobs of Tomorrow’ report – cloud, engineering and data clusters, which are also among the fastest-growing overall – require disruptive tech skills like artificial intelligence (AI), robotics, or cloud computing.”
Manufacturing is in the midst of a major digital revolution and is investing in Industrial Internet of Things (IIoT) technologies like Artificial Intelligence (AI), Augmented Reality (AR), robotics (AGVS, AMRs) and cloud-based simulation and modeling.