Yes, wonderful and magical things. Concepts and blueprints become a reality, new solutions are born and the world becomes an exciting place for everyone - the innovators (technology and robotics companies), the adopters (governments, brands and businesses) and the beneficiaries (end consumers).
These technologies are not as esoteric as they sound, and most of us have already experienced the impact in some form. Customised insurance advice from a personal finance portal, 24 hour delivery by e-commerce portals, a chit chat with Siri and the self-driving Tesla cars are some examples. Early success has spurred AI deployment in sectors such as automotive, BFSI, health informatics, retail, and e-commerce. In sheer numbers, in 2015, the global artificial intelligence market was worth $126.2 billion and is projected to reach a value of $3,061.35 billion by the end of 2024, exhibiting an exponential 36.10 per cent CAGR between 2016 and 2024.
But true disruption on a mass scale will be catalysed when the twain meet. AI has played a crucial role in expanding the versatility of robotics beyond mechanical parts that lift greater weight to intelligent machines that today undertake complex task, learn from trends and execute with finesse. Today, we have truly intelligent machines - a far cry from merely industrial machines - with categories such as service robots and articulated robots. Take for instance, HDFC Bank's humanoid IRA (Intelligent Robotic Assistant) that caters to customers within a bank premises or DASH - a robot at The Crowne Plaza Hotel in California that delivers room service. According to a report, the worldwide spending on robotics and related services will hit $135.4 billion in 2019 and is set to grow at a CAGR of 17 per cent.
AI and robotics, together have the power to transform the world and the way we live. Together, they will change business and service models, and will define how consumers interact with the world around them
In India too, Robotics has already made significant inroads in electronics assembly and automotive manufacturing, and industrial robots are all set to fuel the impending revolution in the manufacturing sector. Robotics is gaining traction and is poised to see accelerated uptake beyond the existing industries such as automobile, that have been early adopters. According to Hongwei Zhang, Principal Lecturer, Subject Group Leader, Sheffield Hallam University, England, "Greater participation from robotics is almost inevitable. The 'Make In India' initiative looks likely to stimulate growth in manufacturing, and specifically in the automobile industry."
Considering AI was first discussed and tested in the early 1950s, and industrial automation has been a significant investment area for a long time, the real explosion has only just happened. While Supercomputers have been talked about for decades, it was only recently that the world saw the first supercomputer with true cognitive capabilities. The breakthroughs have only just started to happen. The leap, however delayed, is a giant one. And the possibilities, endless.
The task, therefore, is to capitalise on the collaborative power of AI and Robotics and channelise the power to solve real long-term problems. These self-learning machines need to be leveraged to make the future more predictable, controllable and safe, be it for governments, enterprises or individuals.
However, even with the innovative existing use cases and formidable outlook, we have only scratched the tip of the iceberg. Considering the destination might be Singularity -- a time when machines and humans will merge, we are on the verge of entering into an era of Cobots where humans and robots co-exists and collaborate seamlessly. While humans and machines have been interacting using AI, research is already underway to enable computers to interact with each other using natural language, and AI-powered machines have already started to offer precise medical diagnosis. AI and robotics, together have the power to transform the world and the way we live. Together, they will change business and service models, and will define how consumers interact with the world around them.
AI and Robotics are not just software and hardware in operation - their growing intelligence and intuitiveness is only making them more natural. The sum of the parts already is and shall always be greater than the whole.
Vaidya Subramaniam S is head (product management) at GreyOrange, a firm that designs, develops and deploys robotics systems.
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