In which area is the global artificial intelligence market surging in demand? Elderly Care Robots KellyOnTech

In which area is the global artificial intelligence market surging in demand? Elderly Care Robots KellyOnTech

What is the prospect of the global artificial intelligence market?

According to a report by Fortune Business Insights, the global artificial intelligence market size is expected to reach $1,394.3 billion by 2029, growing at a CAGR of 20.1% during the forecast period 2022–2029.

Fortune Business Insights. Global Artificial Intelligence Market Outlook 2021–2029
Image source: Fortune Business Insights. Global Artificial Intelligence Market Outlook 2021–2029

The increased demand for healthcare during the COVID-19 pandemic has led to a staggering 150% growth in the artificial intelligence market in 2020 over 2019. Artificial intelligence has become a highly sought-after technology in healthcare, from tackling epidemic-related challenges to providing efficient and reliable models to improve outcomes. Drug discovery is also an important application area for AI technologies.

Elderly Care Robots

In the field of healthcare, the issue of elderly care has always been one of the most pressing issues globally due to the imbalance between supply and demand. As the number of elderly people increases, there has not been a corresponding increase in the number of caregivers.

Japan expects to experience a shortage of one million caregivers by 2025. In the United States, the proportion of people aged 65 and over is projected to increase to around 26 percent of the population by 2050. The relative shortage of caregivers has led to high nursing costs for the elderly, and it has also imposed a heavy burden on governments and families.

Mr. Huang Xiaoqing, founder of CloudMinds, stated at the World Artificial Intelligence Conference 2022,

“According to the forecast, the number of robots in the world will reach 10 billion by 2050. A significant number of these will certainly be in China, where by 2035 there will be 310 million elderly people who will all need robot nannies. By 2050, this market will reach $30 trillion, three times more than the sum of the communications industry and the automotive industry today.”

Image Source: Mr. Huang Xiaoqing, the founder of CloudMinds, gave a speech at the 2022 World AI Conference
Image Source: Mr. Huang Xiaoqing, the founder of CloudMinds, gave a speech at the 2022 World AI Conference

How Can Robots Help the Elderly?

Robots can help the elderly in a number of ways. There are currently three main categories:

  1. Living Assistant Robots: Robots can perform everyday tasks such as fetching food and water.
  2. Companion Robots: Robots that provide entertainment through games, help remind seniors of events and appointments, and provide social and emotional needs through chat services.
  3. Mobility Assistant Robot: Provides mobility and transportation support to the elderly by using the robot’s powerful hydraulic system.

What Is the Specific Application of Elderly Care Robots?

Have you heard of sunset syndrome? When you’re around someone with Alzheimer’s disease, you may notice dramatic changes in how they behave in the late afternoon or early evening. For example, symptoms such as irritability, paranoia, or even yelling. This symptom is called sunset syndrome.

Up to one in five people with Alzheimer’s disease will develop sunset syndrome. But it can also happen to older people without dementia. Elderly care robots could help lessen the effects of sunset syndrome and improve the mood of patients with dementia.

Which Company Provides Artificial Intelligence + 5G + Robotics Solutions?

Here I introduce the flagship product released by CloudMinds at the 2022 World Artificial Intelligence Conference: the humanoid wheeled robot “Ginger 2.0”.

Image source: CloudMinds - Humanoid wheeled robot "Xiao Jiang" Ginger 2.0 KellyOnTech
Image source: CloudMinds - Humanoid wheeled robot “Xiao Jiang” Ginger 2.0 KellyOnTech

Mr. Huang Xiaoqing, the founder of CloudMinds has three important views on the development of robots:

  1. The first point of view is that this is the third computer of mankind.
  2. The second point of view is that the essence of robots is artificial intelligence, and robots are carriers.
  3. The third point of view is that intelligent flexible joints are the core technology for manufacturing robots.

Therefore, from the very beginning of its business, what differentiates CloudMinds from other robotics companies is that it built an artificial intelligence cloud platform as the cloud brain of the robot from the very beginning. This solves the physical limitations and cost problems of the middle end of the robot. Mr. Huang is known as the father of the cloud robots.

For information about cloud robotics, please refer to previous introductions. In a nutshell, the artificial intelligence cloud platform not only provides robots with unlimited cloud computing power and a large amount of timely updated data in the cloud, but also greatly reduces the difficulty of communication and collaboration between robots, as well as the cost of robot maintenance.

CloudMinds specially recorded the video of its humanoid robot Xiaozi. “Xiaozi ‘’ can do various movements, due to the intelligent flexible joints-SCA 2.0 and various intelligent sensors on its body. With the help of Hai Rui OS 5.0, which is the “cloud intelligent brain” endowed to the robot, “Xiaozi” has superb positioning, walking and grasping capabilities and independent learning capabilities.

At present, CloudMinds’ products and solutions have served thousands of customers and hundreds of industry chain partners. They will continue to create and lead a new era of artificial intelligence + 5G + robotics!

Mr. Huang Xiaoqing, the founder of CloudMinds, especially cheers for the fellow entrepreneurs in the tech circle.

“About entrepreneurship, entrepreneurship must have original intentions and persistence. The CEO must be a steadfast needle. This is the third time I started a business, and the previous two were successful, so I deeply understand this.”

I wish every entrepreneur will continue to stay true to their original aspirations, forge ahead, and have a promising future!

The new book “Strategic Development of Technology in China” is available on Amazon.

Strategic Development of Technology Book Cover
“Strategic Development of Technology in China” Book Cover

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