The Robot Revolution
In the past decade, new and innovative companies across the world have developed autonomous robots that have several beneficial applications. For those living in big cities or metropolitan areas, some of these robots may already be standing among you. One of these companies is Cruise, which is one of a handful of companies that have launched fully automated vehicles. To compete with ride-share companies such as Uber and Lyft, Cruise offers driverless EVs that can pick you up and drop you off on demand. Although not without its faults, the AI-powered company does offer a unique business model where a lack of driver costs may be able to decrease prices for the consumer. Currently, Cruise is only available in San Francisco, Austin, and Phoenix, but is expanding operations to several more cities soon.
The next robotics company that some may have had brief encounters with is Starship Technologies, which has deployed hundreds of delivery robots in over 30 global locations. Like Cruise, Starship Tech is attempting to attract market share from popular food delivery service incumbents like DoorDash or GrubHub, however, eliminating the human component. From an app, customers can place orders for select restaurants, where a small, mobile robot can receive food items and make its way on the sidewalk towards delivery. Lastly, although not directly consumer-facing, another unique company to change the robot landscape has been Miso Robotics. Focused on restaurant technology, Miso Robotics has developed and tested several AI and robotic applications for fast food kitchen operations, with autonomous robots that can fry and finish foods. Restaurants such as Jack in the Box, White Castle, and Chipotle have begun using their technology, and improvements to costs and efficiency have already been cited. With hundreds of other companies making robotic breakthroughs each day, a human future filled with autonomy across several aspects of life isn’t out of the question.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.