Just as ATMs changed banking and computers took over the home and workplace, robots and artificial intelligence are going to transform a bunch of industries over the next decade.
By 2025, a machine may be putting together your driverless car in a factory with no human oversight. A robot maid could be cleaning up after you at home, and your financial advisor might be a computer investing for you automatically.
And with at least 90 countries operating unmanned aerial vehicles, the wars of the future may increasingly be fought with « drone » aircraft.
These are just some of the interesting — and sometimes scary — predictions to come from a 300-page report released by Merrill Lynch in November, which estimates the global market for robots and AI will grow from $28 billion to more than $150 billion just five years from now.
There’s plenty of disruption bound to happen across the world as drones and much-smarter-than-you AI take over. But we’re likely to see the biggest changes across eight industries in China, Japan, the US, and Korea — the countries currently investing the most in these technologies.
Here are the big predictions from Merrill Lynch:
The auto industry is going to change big-time, especially when fully autonomous — aka driverless — cars officially go mainstream.
Over the next five years, the report says most new cars will be smarter « connected » cars, and in 2025, that’ll mean about 10% of them are fully autonomous.
While the initial price will be about $10,000 more than regular cars, it will inevitably come down as more people and companies adopt them.
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