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EXPLORING THE
GROWTH OF ROBOTICS AND ARTIFICIAL INTELLIGENCE |
Which sectors are being disrupted by these technologies?
How big is the opportunity?
Which types of companies stand to benefit from the robotics and artificial intelligence revolution?
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What Are ROBOTICS AND ARTIFICIAL
INTELLIGENCE Robotic involves the idea, design, creation and application of programmable mechanical devices that can perform tasks and interact with their environments without human interaction.
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The global robotics market is expected to expand 10% per year from 2014 to 2020, reaching $83b in total by 2020
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Artificial Intelligence is a division of computer science that emphasizes the conception of intelligent machines that can work, react, and learn like humans in order to recognize speech, plan, and solve problems.
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WHAT ARE THE UNDERLYING
DRIVERS OF GROWTH?
DRIVERS OF GROWTH?
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Robotics and Al is a rapidly emerging theme, not just for the sake of pushing technological boundaries, but because there are large economic incentives roratao to aging populations, rising labor costs, and opportunity for performance improvements.
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The world is ageing as lifespans increase and birth rates plummet. Economists fear that this trend will result in fewer people producing goods and services relative to the number of retirees. Japan's labor force, for instance. is projected to decline to roughly half of its peak level by 2060, as its population becomes increasingly senior.[1] As a consequence of a shrinking labor force, Japan's economy could benefit from the development of robot technologies that can offset declining output from a smaller workforce. |
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Labor-intensive businesses, like manufacturing, have high labor costs which continue to rise. Many firms seek to lower these costs by outsourcing labor to cheaper countries. While offshoring jobs to rower.cost sites delivers expected savings of 65% on labor costs, replacing human workers with robots could save even more, with some estimating 90% in savings.• |
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Labor Cost Savings
Source Deloitte |
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By 2030, the average wage per month in China is expected to almost quadruple and South Korea is projected double.
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By 2030, the average wage per month in China is expected to almost quadruple and South Korea is projected double.
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How Big is the opportunity?
Robot and AI market is expected to reach $153b by 2020. Here are the industries that will make up the bulk of that market:
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