Page 32

R O B O T I C S & A I

and the future economy will require higher educational attainment, according to the study. Work and society By incorporating AI, the Internet of Things (IoT), big data and robotics into every aspect of industrial and social life, society can create a future that abounds with new expectations, values and services where smart outcomes drive an improved quality of life and create a greater good. The technology-driven future economy promises to convert big data collected by IoT into new intelligence through AI with the intent of empowering humans to make better, more sustainable decisions. The benefits are compelling. It’s undeniable technological advances will usher in unprecedented economic growth through productivity. Sure, it will take jobs away, but it also will create job and learning opportunities. It could potentially lead to an economic surplus that enables humanity to support a transitioning workforce. Businesses need to re-evaluate their workforce needs and talent-development strategies.

The Fanuc Robodrill Vertical Machining Center

28

More specifically, they will find it in their self-interest to connect the workforce to learning opportunities that prepare them for a new world of work. Individuals will find themselves seeking access to education to be ready for work that is rapidly evolving. Automation will cause a problematic shift in the future of work, but demand for human labor will continue. Invest for the coming storm To win big in the future economy, investors should look for ways to invest in the application of technology, not the technology itself. It’s about finding companies that understand how their technology strategically aligns to prevalent social and economic themes in society. It’s vital to target companies poised to benefit from structural shifts in culture, technology and how humanity interacts with the environment. For example, Fanuc Corp. (FANUY), an industrial robotics and automation business, provides robots that assemble and paint automobiles in China, construct complex motors and make injection-molded parts. Pharmaceuti-

To win big in the future economy, investors should look for ways to invest in the application of technology, not the technology itself

cal companies use sorting robots to categorize and package pills. Food packing facilities use them to slice, squirt and wrap edibles. In another example, Robodrill from Fanuc (ADR) produces the all-metal casing used in Apple (AAPL) iPhones. Bloomberg reported that the launch of the iPhone 8 and iPhone X caused substantial increases of Robodrill sales to Apple’s manufacturers in China. The highly secretive company uses factories of the future where they operate without lights or air-conditioning, and have virtually no human intervention. About 80% of the company’s assembly work is entirely automated, according to Fanuc’s Vice President Kenji Yamaguchi. Healthcare, a non-industrial sector, also depends upon robotics technology. Intuitive Surgical (ISRG), for example, develops and manufactures the Da Vinci surgical system designed for robotic-assisted surgery that’s minimally invasive. Since 2000, the system have been used in more than 3 million operations with a 95% success rate. Mechanical eyeballs For robots to execute tasks in unstructured environments and make decisions, their makers must integrate robotic vision into the AI. Robotic vision enbles machines to process imagery from their surroundings. In short, it enables them to “see.” Faro Technologies (FARO) develops 3D precision imaging devices and realization software technology. Its products have become popular with factories that use imaging software to automate inspections and calibrations, including alignment, part inspection, dimensional analysis, first article inspects, incoming and in-process inspection, machine calibration, non-contact inspection, robot calibration, tool building and set-up, and assembly guidance. An emerging vertical for Faro Technologies is public safety

luckbox | june 2019

1906-topics-summers.indd 28

5/2/19 11:29 AM

Profile for luckbox magazine

June 2019  

If there is a single sector that investors need to understand to navigate opportunities in the years to come, its Robotics, Automation and A...

June 2019  

If there is a single sector that investors need to understand to navigate opportunities in the years to come, its Robotics, Automation and A...

Profile for luckbox