in this video you'll learn about
robotics industrial robots military BOTS
bottle cap even personal robots will
look at drones self-driving and sell
flying cars and you'll see why robotics
is the fastest growing industry in the
world so let's get started let's talk
about robotics robots are nothing new
they've been the stuff of science
fiction for a well as long as you can
remember right how about pepie row this
can read to your child and lets you
speak to your children either directly
or through text messages this is the PR2
robot it can open doors it can fold
laundry it fetches beer it can play pool
clean houses and then there's bear it
can lift and carry an injured soldier
off the battlefield here's a robot that
can kill ultraviolet rays hospitals use
this to make sanitary environments in
surgical operating rooms it's 25,000
times brighter than a fluorescent light
cuts Hospital infection rates 60% takes
only five minutes to make a room clean
here's big dog carries 400 pounds of
gears and weapons over a rugged terrain
cheetah can run 30 miles an hour take a
look at this video of the sand flea it
weighs 11 pounds but do you see it jump
30 feet high made by Boston diet
dynamics
Rhys can climb walls arrow D'Arcy can
find disaster victims this is a photo by
the way from a 2-day disaster response
competition in California it was hosted
by DARPA that's the Defense Department's
research program among other things in
robotics and then there are telepresence
robots these robots let doctors appear
at patients bedsides and lets them
diagnose patients without them having to
be in the room in fact they didn't have
to be on the same continent we know we
have a really big problem with not
enough doctors on a global basis well if
we can't train enough doctors then why
don't we just transport them why don't
we just take the telepresence robot put
it into Africa South America the Far
East we're in rural areas and even the
United States were there not enough
doctors for the population and now
doctors in Boston Chicago LA New York
they can serve patients from thousands
of miles away
Tugg works in 150 hospitals delivers
medicine meals and laundry Intuitive
Surgical they've got the da Vinci robot
and this is a surgical robot it uses
robotic arms and has a success rate of
faster recovery times and 80% fewer
complications half a million operations
a year are being performed by this robot
the the surgeon is in another room
guiding the robot of course some robots
are just for fun just designed to
demonstrate what the bot can do take a
look at this one
you might want to think twice the next
time somebody challenge you challenges
you to a pong contest you might want to
stay at a hotel in Japan called The Henna
Hotel that's Japanese for strange hotel
The Henna Hotel is in Nagasaki Japan
androids work as receptionists waiters
cleaning staff and cloakroom attendant
the bot speaks Japanese Chinese French
and English oh by the way let me ask you
this how much does it cost to stay in
that hotel per night $60 you were
probably thinking hundreds even
thousands of dollars a night you know
why it's so inexpensive to stay at the
Hana hotel because the staff are all
robots they don't get paid salaries HR
Payroll is the number-one cost of just
about every business you eliminate the
payroll you eliminate the number one
expense driving down costs and
increasing profitability all at the same
time fabulous news as a consumer a
little bit scary if you're a hotel
employee then there's pepper pepper is a
companion for the elderly it can serve
as an elementary school teacher a retail
sales clerk or an office aide pepper is
on sale right now in Japan the price
1,600 bucks
they're already 1.1 million robots
working in companies all around the
world do you see the human in that
photograph there is why they put him in
a red shirt I will never know then
there's the old joke
there's a guy there and what you can't
see is the dog though the only two live
things in that factory why is there a
man and a dog well the man is there to
feed the dog and the dog is there to
make sure the man doesn't touch anything
I know it's a bad joke
eighty percent of all the work involved
in manufacturing a car is now done by a
machine
eighty percent of automotive
manufacturing is now automated Amazon
now has 10,000 robots it's not
manufacturing the robots it's using them
as a consumer of robots those robots go
into the warehouses and they fetch the
products that have to go into the
shipping because of what you've ordered
a marketplace for industrial robots 37
billion dollars by 2018 robots don't get
sick they don't make mistakes they never
show up drunk or in a bad mood
they work 24/7 currently robots are best
used for jobs that are dull repetitive
require unskilled labor or involve labor
that is dangerous
thanks to robots no more digging ditches
no more engaging in dangerous scary work
that can be prone to injury no more work
that's dull and boring here's what it
comes down to eventually any physical
thing that a human wants done will be
able to be done by a robot that means no
more sweatshops it also means no more
skilled artisans take a look at Sam it's
an automated Mason
you
you
you
Sam can lay as many as 1,200
a day that's the productivity of four
stonemasons pretty fast productivity but
you've got a lot of masons at risk of
losing their job the cost of an
industrial robot dropping rapidly
ten years ago cost half a million
dollars today it's under 25 grand ninety
five percent cheaper in five years by
2025 everyone will have a robot you'll
call it a companion and I'll let you
decide what the number one use of that
home-based robot will be used for
loneliness disappears take a look at
Leonardo one of the most fascinating
robots under development today Leonardo
is I would say the most sophisticated
social robot in the world today we call
it the Stradivarius of robots it is the
most expressive robot in the world today
hello Leo Leo this is Elmo can you find
Elmo
hey Leo look at Elmo Wow isn't he
awesome yeah he was never seen this
before he doesn't know what it is
no introduces another thing it gets
really excited about it look so there
goes oh maybe I should get excited he's
picking up the emotional labeling so to
speak what mady's doing for these novel
entities in the world and then they are
starting to adopt that
no this is Cookie Monster
yo Cookie Monster is very bad he's very
bad Leo he's a scary monster he wants to
eat all your cookies so the Blue Monster
mat isn't so clean exactly it turns out
that um for children when they're about
a year old a lot of what they learn is
through this what's called social
referencing once to steal your cookies
children learn things like ink the
mother actually like don't do that you
know they might not exactly know what it
is it should be doing but they pick up
on that effect and they start
associating like that's a negative thing
I shouldn't do that or this is something
that I you like it then I should
probably like it pepper can read your
child's emotions and facial expressions
and respond appropriately what little
girl doesn't grow up with Barbie are you
familiar though with Hello Barbie she
uses artificial intelligence talks in
natural language to have conversations
with your daughter what happens when
people begin to prefer robots over human
interaction because after all when a
heat when a robot talks to you it's
never cross it's never mean it's never
impatient it's always happy always
friendly it's kind of like your dog
always glad to see you and be with you
what happens when people begin to prefer
robot interaction over human interaction
and then there are drones
flying robots drone cost is dropping
rapidly 10 years ago they cost $100,000
now you can get them for about 500 bucks
the drone market by the mid-20s 89
billion dollars pretty amazing things
are happening with drones already take a
look at the remote area medical
volunteer corps this is an outfit that
serves 3,000 patients but only one
weekend a year they come in with a whole
bunch of doctors and nurses and medical
tech and they come into a rural area
where there are normally no medical
services the problem is when they show
up for the weekend they don't know what
medicines there go
we need so they bring in the medicine by
drone the first experiment was done in
2015 in Wise County Virginia this is a
rural area 90 minutes away from the
nearest pharmacy so they got permission
from both NASA and the FAA to fly
medicine to the clinic 20 mile trip
carrying five-and-a-half pounds worth of
drugs in what researchers called the
Kitty Hawk moment for drone technology
we can now bring medical supplies and
urgent care needs to people who have no
otherwise access to get to medical help
we're now making drones of all shapes
and sizes big ones little ones
helicopter type drones handheld drones
even drones the size of insects here's
something weird an illustration of how
technology races ahead of regulation
you're not allowed to walk on somebody
else's lawn it's trespassing if you
don't have permission but you can fly a
drone over it sounds a little weird
doesn't it a drone can hover outside
your bedroom window your kids playing in
the backyard it can hover over them
taking photographs it's legal at least
for the moment and of course people are
known to crash their drones and that's
why you can now buy drone insurance
the military's into drones in a very big
way here's the MQ-9 reaper it has the
same air capabilities of the F-22
fighter jet but it costs 90% less the
Global Hawk has a wingspan of a hundred
and thirty feet it can cruise at 60,000
feet for two days and it's camera can
track everything going on in the
movements of a medium-sized city
military drones are becoming
increasingly common back in 2003 the
military had very few of them by 2011
there was one drone one robotic tool for
every 50 troops in Afghanistan by 2023
it won't be one in 50 it'll be 10 to 110
robots for every soldier the PackBot can
detect and dispose of bombs Talon can be
carried by soldiers
it can be armed with machine guns 50
caliber rifles grade lot grenade
launchers anti-tank rockets check out
this Navy vessel notice there's nobody
on board this can autonomously swarm
other ships or defend US ships the key
to making these robots work is sensor
technology this is what matters more
than anything else because if you think
about it a robot is a computer and your
computer sits on your desk it's not
aware of its environment that's why you
have a keyboard so you can communicate
with the robot the computer that's why
it has a monitor so we can visually
communicate back with you if a robot is
unaware of its surroundings it's as dumb
as a brick
and that's why sensor technology is key
the sensor technology allows the robot
to know its environment we have to
figure out how to let robots see here
touch even smell its sensor technology
that allows the Google car to work
it's that lidar system on top of the
car's roof that enables the car to know
where it is what's around it what's
ahead the cost of that lidar system has
been dropping dramatically back 10 years
ago it cost $20,000 per car today
it's under a hundred bucks this is why
self-driving cars are going to come
really really fast because it's so
inexpensive we don't have to get
everybody in America to buy a brand new
automobile all we've got to do is
retrofit all the existing cars with a
very inexpensive add-on technology 250
time reduction in the last five years
how about digital cameras 1970 6.01
megapixels now 10 plus megapixels they
used to be 4 pounds and cost 10 grand
now their point oh three pounds and they
cost $10 thousand times better
resolution weight and price how about
accelerometers 1960s they were
50 pounds and cost millions of dollars
today it's a tiny chip inside your phone
it costs less than a buck GPS technology
in 1981 it cost a hundred and twenty
thousand dollars in the device weight
fifty three pounds today it's under $2
fits on your fingertip but perhaps the
most impactful robot of all is the
self-driving vehicle and so it's so
important it is so impactful to our
lives that I want to spend a little bit
of time talking about it with you we
have a pandemic occurring across America
right now every year in the United
States there are 5.3 million
auto crashes auto accidents account for
25 percent of traffic congestion every
year in the u.s. commuters like you and
me are stuck in traffic for a total of
52 hours each we incur two-and-a-half
million visits to the emergency room
200,000 overnight hospital stays 1
million days in the hospital as a result
of car accidents every year in the
United States we kill 32,000 people
that's more people than who die from
leukemia Parkinson's hypertension or
liver disease auto accidents are the
number one killer of adults 15 to 35
years of age the number two killer of
children ages 5 to 14 in fatal crashes
84 percent of drivers never break
they're distracted or drunk or
increasingly on opiates 39 percent of
drivers in fatal crashes have alcohol
use and then there's property damage
lost wages lost household production
medical costs vocational rehab costs
workplace costs legal costs every year
in the United States automobile crashes
cost our
economy 231 billion dollars that's 2.2
percent of our GDP we pay a hundred and
fifty seven billion dollars a year for
auto insurance that's another one and a
half percent of GDP the total economic
cost of automobile crashes in the United
States is a whopping 3.7 percent of our
nation's productivity that's equal to 65
percent of the entire US defense budget
yeah there's a pandemic raging across
America fortunately there's a cure and
they are self-driving vehicles just
imagine the people who are not able to
drive children can't drive people with
disabilities observant Jews the agent
drunks none of these people are able or
allowed to get behind the wheel of a car
and that restricts their mobility it
restricts their ability to interact with
others it restricts their income
opportunities so just imagine if we were
to eliminate
90% of all the car accidents that's the
promise of self-driving vehicles if we
were to avoid a hundred ninety billion
dollars of losses annually imagine
gaining up to 15 minutes a day by not
having to be in a car or being able to
be productive while you're in the car
imagine cutting greenhouse gases by 16%
imagine that fuel economy goes up all at
the same time emissions goes down
infrastructure costs fall we don't need
to build any more roads because we're
not going to be on the roads as often as
we were imagine the end of DMV that
alone is the best reason to do
self-driving cars in fact self-driving
vehicles are already here on the market
self-parking lane-keeping auto cruise
control pedestrian collision warning
slow autopilot temporary autopilot you
already see autonomous driving in mining
and far
that vehicle which is mining doesn't
have a driver neither does that on a
farm
no operator required labor cost savings
up to 90 percent CO2 emissions down
sixty percent the Google car has driven
over three million miles so far and
we're seeing it being translated from
experimental to actual usage here's the
Tesla already has substantial amount of
self-driving capabilities in cities and
on highways here's the Audi RS 7
2015 this car with no driver in it
posted the fastest lap time on this
racetrack set a record makes you have to
ask yourself the question if an
automated car can drive faster than the
world's fastest car driver are we about
to see a massive change in the nature of
auto racing as a sport
General Motors says that in 2017 they're
introducing models with ability to
control steering acceleration and
braking at highway speeds either at 70
miles an hour or in stop-and-go traffic
Renault is putting self-driving vehicles
in showrooms in 2017 so is Volvo take a
look at the R&D budgets research and
development this is back in 2014 the
numbers are even bigger now Volkswagens
spending 13 billion dollars on
self-driving technology Honda six
billion Mercedes five billion BMW 6
billion Toyota nine billion apple six
billion Google eight billion did you
catch that Apple Google they're not car
companies the last time I looked but it
looks like they're going to become car
companies but you know the biggest thing
about self-driving vehicles has nothing
to do with driving the big benefit isn't
about driving it's about parking this is
the key there are 253 million cars in
the United States the typical car is
parked 95% of the time 31 percent of
City space is devoted to Park
30% of city traffic are just people
looking for parking right you can relate
to this the number of vehicles on the
road are gonna drop dramatically take a
look at all of the cars parked along
curbs
in residential communities and even more
problematic and city streets if you can
eliminate the need to park a car because
think about it a self-driving car it
doesn't have to park it drops you off
goes away comes back when you're ready
for it so it doesn't need to park
outside your house or your office now we
can free up two more lanes on every
street easing traffic flow eliminating
the need for more roads as a result of
this the number of vehicles on the road
will drop 99 percent from two hundred
and forty five million vehicles two two
and a half million vehicles this is
going to create a new era of immense job
creation generating a trillion dollars
in new income as we shift from owning
cars that are parked most of the time to
sharing cars using on-demand services
car sharing services leasing and rental
services it means we're going to recycle
a lot of vehicles it means that we're
going to take 240 million vehicles and
recycle them creating massive number of
new jobs and decreasing the need for
further environmental mining but if we
eliminate all these cars
it means we're eliminating all these
parking lots means we're eliminating all
these parking garages it also means that
we're going to eliminate a lot of car
dealerships we're going to eliminate bus
stations all of that is going to become
obsolete we're also going to see new
technology in-car media communication
technology it's all going to get
developed because you're gonna be in the
car but you're not gonna be driving
you're going to be able to watch movies
surf the internet you're gonna be able
to work you're going to be able to sleep
you're going to be able to communicate
with others so
we're gonna develop new technology for
all of that oh and and as big a deal as
self-driving cars are if you know what's
coming next
self flying cars a lot of them are
underway
here's car plane a German manufacturer
here's the lilium aviation it's working
on the first all-electric plane funded
by the European Union the launch date is
2018 Terrafugia headquartered in
Massachusetts comes equipped with a
parachute you know just in case it plans
to start selling its flying cars in 2026
it's a four-seater retails for $120,000
that's cheaper by the way than this one
this is the Villa copter $280,000 looks
like a helicopter but it has 18
propellers and therefore a lot quieter
here's Joby Aviation there they've
already started flying prototypes pal v1
from a company in the Netherlands they
first flew their prototype in 2012 and
it's not just machines
that I'm talking about that are making
these massive developments of innovation
and improvement it's humans too it's the
merging of machines with humans we've
already seen this in a prior video where
we can improve and augment your vision
imagine if you didn't have 20/20 vision
but you had 1:1 vision if you could look
telescopically by virtue of a contact
lens you're wearing if you had the
ability to observe microscopically
because of that contact lens what if you
had a robotic arm because yours was
disabled or amputated due to illness or
injury would that arm have to be limited
to the capacities of your human arm or
would it be able to provide you
superhuman strength as well robotics is
the fastest growing industry in the
world and it's going to become the
world's largest industry in the 2020s
so what are the personal finance
implications for you and me well let's
take a look at the first millions of
jobs are going to be lost to robotics
and artificial intelligence over the
next two decades you have to decide if
your job is among them in my book The
Truth About Your Future I list the 171
occupations that are going to disappear
over the next decade because of
technology
I also list the 175 occupations that are
going to survive and thrive in a world
of technological innovation you need to
decide now if your job is likely to be
lost automation the more your job is
engaged in repetition the more likely
your job will be automated and I'm not
just talking about ditch diggers I'm
talking about people in the financial
services industry people who push paper
for a living computers can push that
paper better than you they can fill out
those forms faster more accurately and
at lower cost as well you need to think
if your job is one of those likely to be
lost to automation anticipate it now so
that we can figure out how to get you
into a new occupation that will survive
and thrive we'll talk a lot more about
this in future videos in this program we
also need to recognize that used-car
values are going to fall faster than
ever
my wife Jean and I have pretty much
bought our last car the most recent car
we purchased was a lease why because car
values are plummeting cars are becoming
like smartphones would you be interested
in buying a smartphone that's two years
old I didn't think so
soon you're gonna say that about cars
because of the new technology going into
cars you're going to want the newest
latest and greatest you're not going to
want to buy an older car which means no
one else will want yours your car value
is going to drop dramatically makes you
raise the question why on earth would
anybody want to buy a new car today
I've stopped buying new cars leasing
them instead
will you be able to therefore cancel
your automobile insurance in the future
I think the answer to that is yes not
yet but soon so this is an area where
you have a current household expense
that will disappear in the future
demonetization is the word things that you
currently spend money on either become
free or you simply eliminate them being
no longer needing to buy them think
about cameras ones last time you bought
a camera you have a free one in your
phone right so chances are in the future
you'll be able to cancel your automobile
insurance saving you money it also means
that many of the companies in the S&P
500 are becoming obsolete because they
are engaged in a business structure
built in the 20th century as opposed to
the 21st we're going to talk a lot more
about that in our investment management
video you're gonna definitely want to
watch that one because everything I'm
sharing with you is The Truth About Your
Future that's it for this video in our
next video we'll explore nanotechnology
the world is shrinking
meaning among other things robots will
soon be traveling in your bloodstream
come see what nanotech means for you
this series is based on my New York
Times bestseller The Truth About Your
Future the money guide you need now
later and much later if at any point you
have any questions you can send them to
me by visiting TheTruthAboutYourFuture.com
thanks for watching
