Robotics and Automation Trends to Watch

Here’s a prediction for robotics in 2024: I see an evolution of traditional robotics business models into full-stack companies that automate verticals from the inside out. Let me explain; the current economy is having an impact across every industry, and robotics hasn’t been exempt from this issue, especially smaller startups. While I maintain optimism for the future of robotics startups, survival demands adaptation. Building a robotics company can be risky these days, due to increased competition in the hardware space and a difficult funding environment. Instead, I believe we’ll see more companies pivot toward building a company that automates a vertical via the acquisition of a traditional business. After this, they set about automating each process with AI and physical automation as a complement to human labor. Everything from HR to marketing to the deployment and tasking of humans and robots is automated, and continually optimized. This requires data in 3 flavors: 1) Business Data (processes, tasks, success rates, 2) Human Data (resource availability, skills) 3) Systems data (sensors on machines and robots, cameras, etc). Essentially, traditional businesses are transformed from clipboards, whiteboards, and timecards into software-backed enterprises ripe for optimization. Instacart is an example of a digital company with an analog workforce. As we move towards a future where more physical automation is deployed alongside human labor, you can imagine even more data-based decision-making. We are already starting to see this happen. Electric Sheep is a great example of this and has been featured lately for tackling both software and full-stack issues with this new model: https://lnkd.in/eBBwxU2D   There’s plenty more that goes into building full-stack automation services, but more on that to come later. Do you agree with this prediction? Happy to hear different takes on where the future of robotics companies is headed.

One of our most anticipated reports each year is out—a comprehensive look at the most significant tech trends unfolding today, from agentic AI to the future of mobility to bioengineering. It provides CEOs with insights on how to embrace frontier technology that has the potential to transform industries and create new opportunities for growth.   Here’s my top-line take: —Equity investments rose in 10 out of 13 tech trends in 2024, with 7 of those trends recovering from declines in the previous year. This rebound signals growing confidence in emerging technologies. —We're witnessing a significant shift in autonomous systems going from pilots to practical applications. Systems like robots and digital agents, are not only executing tasks but also learning and adapting. Agentic AI saw a $1.1 billion equity investment in 2024 alone. —The interface between humans and machines is becoming more natural and intuitive. Advances in immersive training environments, haptic robotics, voice-driven copilots, and sensor-enabled wearables are making technology more responsive to human needs. —And, of course, the AI effect stands out as both a powerful trend in its own right and a foundational amplifier of others. AI is accelerating robotics training, advancing bioengineering discoveries, optimizing energy systems, and more. The sheer scale of investment in AI is staggering, with $124.3 billion in equity investment in 2024 alone.   Let's discuss: Which of these trends do you think will have the most significant impact on your industry? Share your thoughts in the comments below!   Big thanks to my colleagues Lareina Yee, Michael Chui, Roger Roberts, and Sven Smit.   #TechTrends #AI #Innovation #FutureOfWork #EmergingTech http://mck.co/techtrends

Stanford University researchers released a new AI report, partnering with the likes of Accenture, McKinsey & Company, OpenAI, and others, highlighting technical breakthroughs, trends, and market opportunities with large language models (LLMs).  Since the report is 500+ pages!!! (link in comments), sharing a handful of the insights below: 1. Rise of Multimodal AI: We're moving beyond text-only models. AI systems are becoming increasingly adept at handling diverse data types, including images, audio, and video, alongside text. This opens up possibilities for apps in areas like robotics, healthcare, and creative industries. Imagine AI systems that can understand and generate realistic 3D environments or diagnose diseases from medical scans. 2. AI for Scientific Discovery: AI is transforming scientific research. Models like GNoME are accelerating materials discovery, while others are tackling complex challenges in drug development. Expect AI to play a growing role in scientific breakthroughs, leading to new materials and more effective medicines. 3. AI and Robotics Synergy: The combination of AI and robotics is giving rise to a new generation of intelligent robots. Models like PaLM-E are enabling robots to understand and respond to complex commands, learn from their environment, and perform tasks with greater dexterity. Expect to see AI-powered robots playing a larger role in manufacturing, logistics, healthcare, and our homes. 4. AI for Personalized Experiences: AI is enabling hyper-personalization in areas like education, healthcare, and entertainment. Imagine educational platforms that adapt to your learning style, healthcare systems that provide personalized treatment plans, and entertainment experiences that cater to your unique preferences. 5. Democratization of AI: Open-source models (e.g., Llama 3 just released) and platforms like Hugging Face are empowering a wider range of developers and researchers to build and experiment with AI. This democratization of AI will foster greater innovation and lead to a more diverse range of applications.

Generative AI and Robotics – A tipping point? Robotics has been a promising field for many years, steadily adding value across various industries by improving processes and outcomes. Despite its progress and the substantive promise, the technology has remained in early stages of adoption. There are considerable opportunities for growth and innovation that could drive the impact of robotics to the next level - and help address labor shortages, do dangerous jobs safely, and ultimately make goods and services more accessible to users. GenAI has the potential to be particularly transformative, streamlining the programming of robots to an extent not possible before. It is enabling the development of intuitive, natural language programming interfaces and sophisticated algorithms that can learn and optimize tasks on their own. This can not only reduce the barrier to entry for utilizing robotics technology but also accelerate the pace of innovation within the sector. Supporting software advancements are hardware breakthroughs, particularly in GPUs (Graphics Processing Units) and TPUs (Tensor Processing Units).  And the shift towards a Robotics-as-a-Service (RaaS) model represents a significant evolution in how robotics solutions are delivered and monetized. Link in first comment below to thoughts from our Emergent Ventures team on the opportunities (and challenges) we are seeing in this space. If you building something new in this space, please reach out to my colleague Niha Gottiparthy, who is driving our enquiry into the opportunities at the intersection of robotics and modern AI. #startups #robotics #venturecapital #genAI