Demand for robots, artificial intelligence rising

Japanese automaker Toyota’s (TM) plans to invest $1 billion in developing artificial intelligence and robotics comes amid reduced costs and increased demand for the technologies. Demand for robots have surged at a compound annual growth rate of 17 percent since 2010, according to Bank of America Merrill Lynch. Last year, sales hit $10.7 billion, with 229,000 robots sold, up 29 percent from the year before. The global robotics market is expected to reach $152.7 billion by 2020. “We are seeing the earliest cognitive stages of human and machine development, where robots are able to collect large amounts of data, analyze it and make optimum decisions, and potentially learn from past interactions,” said the Wall Street firm in a note. “Looking out to the future, we are likely to see the…

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