Visual Object Intelligence
Contrary to popular perception, while US alone spends a whopping $1.3T on manual labour wages, the world spends only $16B in deploying industrial robots and $32B in robot accessories and services every year. Industrial Robots market is growing at a modest 8% CAGR while Internet Apps are disrupting at 30% CAGR!
A significant technological breakthrough is required to enable faster adoption of robots.
World GDP grew only proportionally with population until before we began automating. Coinciding exactly with the 2nd industrial revolution circa 1870s, and subsequently with the adoption of robots and large-scale automation post 1950s, GDP has grown 6X more than population.
According to a McKinsey study on the state of automation, even today, 31% of the time spent by the world labour force is on performing manual labour task. This is the single largest category of jobs performed.
The technical feasibility of automating these tasks is still below 50% wherever there is any unpredictability in the tasks.
Enabling robots to comprehend and adapt to unpredictability remains elusive.
Our insights into the manual labor and automation market and the cutting edge advances in robotics.
Kissing manufacturing’s gaping wounds, laid bare by the COVID-19 pandemic, will not make them better. We need to infuse systems with greater resilience. .....