Automation, digitalisation, and artificial intelligence (AI) are progressing rapidly worldwide: robots increasingly substitute for humans in many assembly line tasks; 3D printers are used in the production of customised parts and medical implants; and AI-based models and devices are used to quickly diagnose disease, develop medical remedies, write reports, code, and generate inspiring ideas ( The Economist 2014, Ford 2015, Brynjolfsson and McAfee 2016, Hu 2023). Figure 1 illustrates the growth in automation based on one frequently used data source: the International Federation of Robotics (2016, 2017, 2018, 2022). The number of industrial robots 1 worldwide was negligible until the early 1990s, but has since increased steeply, by a factor of eight. After the global financial crisis of 2007–2009, the growth rate of the number of robots increased markedly to about 10–15% per year (International Federation of Robotics 2022). Most recently, the number of users of AI-based models has skyrocketed. ChatGPT, for example, surpassed 100 million active monthly users in January 2023, just two months after its launch (Hu 2023). Figure 1 Worldwide stock of industrial robots (in millions of units) : International Federation of Robotics (2016, 2017, 2018, 2022) with authors’ interpolations for the years lacking data. Notes […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
