Historically, robots were just dumb pieces of programmable machinery that did the same task over and over again. They had virtually no ability to sense their environment. And they certainly couldn’t make decisions for themselves.
With the advent of machine learning and smart systems, that’s all changing. Now designers are imbuing their mechanical appendages with all manner of intelligence. And it’s only getting better.
For economists, these trends are extremely exciting. We could be looking at a future where robots do the vast majority of manual jobs, freeing up labour for other tasks, boosting productivity like nothing else in human history. [Read more…] about What Happens When Cybercriminals Target Industrial Robots?