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From Chris Wood, editor, Casey Extraordinary Technology: Disposing of an unexploded bomb…
Examining a nuclear reactor after a meltdown…
People shouldn’t have to do these things. They’re too dangerous.
And thanks to robots, we don’t have to.
Robots today can sneak into dangerous places, like terrorist-filled buildings or caves, and send back video of what they “see” and “hear” in real time.
Robots like this are mostly used by big institutions like militaries with a lot of money. But thanks to amazing advances in robot technology that have drastically cut costs, that’s starting to change…
Robots can now be used to educate, assist people with disabilities, and perform daily chores like vacuuming.
And I think robotics is about to take a big leap forward. Here are seven reasons why…
Patent Filings Are on Fire
Patent filings—one sign of the expected boom—have soared.
According to patent research company IFI CLAIMS, annual patent filings covering robotics technology tripled over the past decade.
Increased Investment Activity
Many big companies have recently invested a lot of money in robotics. Google bought eight robotics startups over a six-month stretch in 2013 alone. In 2012, Amazon bought Kiva Systems, which makes mobile robotic fulfillment systems, and retooled it as “Amazon Robotics.” And in November 2015, Toyota announced that it is investing $1 billion over the next five years to create the Toyota Research Institute, a robotics research and development group headquartered in Silicon Valley.
And those are just three of the many examples out there.
Another sign of the expected boom… venture capital (VC) investment in robotics is picking up steam. In 2014, VC funding for robotics increased to $341.3 million, up 36% from 2013. That’s robust growth. But VC investment in the space grew even faster in 2015… up 72% for the year to $587 million, according to research firm CB Insights.
Emergence of New International Players
Japan, the U.S., and a few European countries like Germany used to dominate robotics. Now, new international players are emerging. China started developing its own low-cost industrial robots. A team from South Korea won the 2015 DARPA Robotics Challenge. And Switzerland, the Netherlands, and the UAE have all recently upped their investments in robotics.
Cloud Robotics
Some robotics companies are moving a robot’s intelligence to the cloud.
In other words, they’re offloading a lot of the computing power that helps a robot sense, think, and act into huge data centers.
This helps make robots’ brains big enough to deal with challenging situations they couldn’t handle before. It also makes it cheaper to build robots since they need less onboard computational power and memory. Finally, cloud robotics lets companies instantly upgrade software on multiple machines.
Shrinking Costs
Thanks to advances in computer and smartphone technology, processors, sensors, and other robot parts have gotten much better and much cheaper. Data storage costs have dropped at a similar pace.
Making Progress Against Moravec’s Paradox
In the 1980s, roboticist Hans Moravec observed:
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It is comparatively easy to make computers exhibit adult-level performance on intelligence tests or playing checkers, and difficult or impossible to give them the skills of a one-year-old when it comes to perception and mobility. |
This is known as Moravec’s Paradox.
Robotics experts have found it nearly impossible to build robots that can perform the simplest physical tasks… tasks that we take for granted, like opening a door, climbing a flight of stairs, or folding clothes.
But one robot from Rethink Robotics is overcoming Moravec’s Paradox.
Its name is Baxter, and it can sense and manipulate many different objects with its hands…objects ranging from grips to suction cups.
What’s also great about Baxter is that it only costs about $25,000. And it can be programmed by simply grabbing its wrist and guiding it through the motions necessary to a complete a task. It also has built-in features that make it safe for people to work around. Baxter’s two arms can’t collide, and they automatically slow down if it senses someone within its range.
Overcoming the SLAM Problem
Robotics researchers have been struggling with SLAM for years. SLAM refers to “simultaneous localization and mapping.” It’s the process of constructing a mental map of a new building or location and keeping track of your position in it.
A 2008 survey of the SLAM problem called it “one of the fundamental challenges of robotics…”
Then, just two years later, Microsoft introduced the Kinect sensor as an add-on peripheral for Xbox 360. The Kinect could keep track of two players as they competed in virtual sports, exercised, or cast spells as Harry Potter.
But that’s not all it could do…
At the Association for Computing Machinery’s Special Interest Group on Graphics and Interactive Techniques in August 2011, a team of Microsoft employees showed that the Kinect could draw a three-dimensional map of a room and all the objects in it. The device knew where it was in the room at all times and even how virtual ping pong balls would bounce around if they were dropped into the scene.
Researchers believe that in the near future, this technology can be extended to solve the SLAM problem for good.
I don’t know exactly how things will unfold from here. But I do have some well-researched opinions…
First, every type of robot will continue to get cheaper and more capable. And the personal-service robot market will explode.
Second, many machines that people consider robots today will be considered “advanced household appliances” in a few years. They’ll be machines specialized for a single task and won’t look anything like the robots from the movies. Just think of how Roomba, the vacuum-cleaning robot, looks today.
After that, a general-purpose personal-service robot (a robot that can perform multiple tasks and learn to do many more) will be found in nearly every home.
This won’t happen in the next five years. Probably not even in the next 10. But a little further down the road… I think it will be the new normal.
This will create ample opportunities for investors in the robotics market in the years ahead.
I’ve already jumped into the space by recommending a robotic surgery company in August 2016. And I plan on keeping a close eye on the industry to take advantage of more opportunities as they arise. I recommend you do the same.
Reeves’ Note: Chris recently put together a report about another technology trend with big potential: drones. In his report, Chris details three of the most promising companies in this space. These companies will benefit from growth in the market; each of these stocks has at least 50% upside potential over the next two years. And much more upside potential than that a little further out. You can learn how to get your own copy of the report right here.