Robots are poised to revolutionize the way economies function, akin to the transformations brought about by the internet and electricity. But their impact is likely to be uneven across different regions, especially in the short to medium term. 

According to a recent report by the National Bureau of Economic Research, a staggering 75% of the robots in America are concentrated in merely 10% of the regions, as delineated by the Office of Management and Budget. Conversely, the lower half of these regions have scarcely any robots at all.

The study unveils that states including Iowa, Michigan, Kansas, Wisconsin, and Minnesota are at the forefront of using robots in manufacturing. This is a critical advancement, as robots are set to redefine economic structures, mirroring the groundbreaking changes initiated by the introduction of the internet and electricity. The effect of this rise in robotics, however, may differ substantially across various geographical locations.

The information came from analyzed census data and surveyed roughly 35,000 manufacturers, shedding light on the localized trends in robotics adoption. A key insight was discovered: rather than supplanting human production workers, robots tend to work alongside them. Furthermore, businesses utilizing robots often sustain a larger human workforce, albeit at typically lower wages.

A noteworthy phenomenon is the emergence of robot clusters, where neighboring companies in manufacturing hubs adopt robots at higher rates. This trend is facilitated by the presence of “robot integrators,” specialized businesses aiding companies in acquiring and installing robots. Regions with at least one integrator are significantly more likely to become robotic hubs compared to those without such support, according to the report.

It isn’t just warehouses and factories that are utilizing robots. Security robots are becoming more and more popular across the US to help fight rising crime rates across the country. By 2030, the global security robot market is expected to reach US$31.08 billion, rising at a CAGR of 12.8%. 

Among the companies delivering new technologies to the market is Knightscope, Inc. (NASDAQ:KSCP),  an advanced security technology company based in the heart of Silicon Valley that builds fully autonomous security robots (ASRs) that deter, detect and report. 

Enhancing Security Through Robotics

Established in 2013, Knightscope, Inc. (NASDAQ:KSCP) stands as a prominent company at the forefront of security robot development with a focus on developing fully autonomous security robots, blue light emergency communication systems, and automated gunshot detection solutions. The company has leveraged four key technologies (autonomy, robotics, artificial intelligence, and EV technology) to create its unique tech, which has been operating in real world conditions for over 2.3 million hours of field operation to date.

A significant milestone for Knightscope is its acquisition of CASE Emergency Systems in 2022, enhancing its capabilities and contributing to substantial top-line revenue growth. The company has cultivated an impressive clientele, boasting associations with distinguished entities like the New York Police Department (NYPD), New York City Fire Department (FDNY), San Luis Obispo Council of Governments (SLOCOG), and the Orange County Transportation Authority (OCTA).

Since the beginning of the year, Knightscope has inked several major deals across the country, including a $1.25 million contract with Rutgers, The State University of New Jersey for 145 devices, and a pilot contract with the New York Police Department (NYPD) for a K5 robot to patrol a Manhattan subway station.

Most recently, Knightscope unveiled a fresh deployment initiative in partnership with a property management group situated in Chicago. The deployment involves a K5 Autonomous Security Robot (ASR), which has taken up patrolling duties within a mixed-use facility housing both retail establishments and professional tenants. This strategic move marks Knightscope‘s second deployment in Chicago, targeting an area grappling with escalated levels of crime, trespassing, vehicle break-ins, and catalytic converter thefts. The deployment signifies a resolute step towards enhancing security and curbing criminal activities within the region.

The company also achieved a significant milestone by successfully deploying its first two K1 Hemisphere ASR in Hawaii. This deployment marks the pivotal final phase of product development – client testing. The company has entered into a comprehensive evaluation phase with its esteemed client, a globally recognized brand specializing in full-service hotels and resorts. 

The deployment of a K5 in Ohio has also garnered national attention.

For more information on Knightscope, Inc. (NASDAQ:KSCP) and the projects it is working on, visit this link or learn more about the Rise of the Robots at the company’s official website.

Featured Image @ Depositphotos

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.

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