Automation and the growth of technologies like artificial intelligence (AI) are resulting in a better, safer and more efficient world. Investments in automation are pouring in. McKinsey
estimates that tech giants worldwide spent anywhere between $20-30 billion on AI in 2016.
Interestingly, one of the key drivers of these spends is the falling cost of capital. The unit cost of capital has dropped to less than 0.6 times the unit cost of labour. This amounts to a 16x drop from the unit cost of labour in the early 1980s. This imbalance is flooding research in AI and robotics with money. These […]
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