Robotics and Employment - Future Prospects

For more than five years, Chris Moehle has served as managing director of The Robotics Hub in Pittsburgh. Chris Moehle’s interests include identifying and providing organizational and funding support for startups ready to launch new and advanced robotics.

With fast-paced technological advances in engineering, energy storage, automation, and artificial intelligence, and the incorporation of these technologies into machines (robots) to perform functions that previously could only be performed by humans, robotics is progressing at a faster pace. Over the past two decades, the global population of robots has tripled, and machines assist humans with about 30 percent of tasks today. Based on current trends, the global stock of robots potentially could grow even faster in the next two decades.

Robotics and automation are expected to drive new and better employment opportunities that will involve minimal dangerous physical labor and like tasks poorly suited to humans. According to the World Economic Forum (WEF), robots will help create 97 million new jobs as humans and robots work together in the future.

A Look at the 2018 Venture Capital Deals

Robotics image: unsplash.com

Seasoned entrepreneur Chris Moehle serves the Robotics Hub as Managing Director. In this capacity, Chris Moehle helped various startups in successfully raising multiple venture capital funds.

By industry standards, 2018 revealed investors' growing interest in robotics and drones. With the amount of successful venture capital deals last year, this sector demonstrates promising growth. According to financial data and software firm PitchBook, there were a total of 346 venture capital transactions in robotics and drones space in 2018. These deals are valued at $4.9 billion and have set high records.

Among the most prominent of last year’s venture capital deals were that of Chinese humanoid robotics startup Ubtech (accumulating $820 million), the robotic process automation startup UiPath (accumulating $225 million) and the robotic micro-surgical devices manufacturer Auris (accumulating $220 million).

The startups that make up this sector (robotics and drones) were involved in producing commercial and health products, electronics, and several types of hardware and software products. Looking closely at the 346 deals last year, it can be noted that one-third of these startups belong to the sub-sectors of B2C electronics, B2B electrical equipment, aerospace and defense.