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Artificial Intelligence

Global Military Robots Market to Generate Revenue of $25.70 Billion by 2028 | Future of AI powered Robot in Defense is Bright

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Westford, USA, Sept. 21, 2022 (GLOBE NEWSWIRE) — As nations around the world continue to face challenging battles, there is an increasing demand for military robots market to help carry out combat tasks. Robotic technology has come a long way in recent years, and now machines are able to complete many of the same tasks as humans. This technology has a number of benefits, including reducing injuries and fatalities. In addition, these machines are much cheaper to operate than human beings and can work in dangerous environments. Military robotics is also becoming more advanced, with machines being able to recognize objects and perform complex tasks.

The increasing demand for military robots market is causing a lot of companies to invest in the development of these machines. This will likely result in a significant increase in their prices, but this is not deterring buyers. The military has already recognized the benefits of using robots and their importance in combat operations. As a result, many countries are investing in the development of these machines.

This is especially true in Asia, where countries like China, Pakistan, and Japan are known for their aggressive behavior. There are also many private companies in the military robots market that are interested in developing military robots. This is likely because they realize the importance of these machines and the possibilities they offer.  As per SkyQuest study, over $2 trillion were spent on defense budget in 2021, which was the highest as compared to the past. Wherein, top 5 countries namely the US, China, India, Russia, and UK spent more than $1.22 trillion. However, the US is leading the market with over $778 billion spending on the military and defense spending.

Military robotics technology is being improved all the time, and this will likely continue for the foreseeable future. As a result, buyers should expect to pay more for military robots in the future, but this will be well worth it due to their advantages over human soldiers.

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Future of AI powered Robot in Defense is Bright, Says SkyQuest Study

With the development of artificial intelligence (AI), there is a growing interest in using robots for defense purposes. One of the most notable areas where AI is being used to improve defense mechanisms is with the development of autonomous intelligent systems (AIS). These systems are designed to autonomously conduct military missions without human input or supervision.

One of the biggest benefits to using AIS in the global military robots market is that they are able to operate in complex and dangerous environments with minimal human interference. This can be critical in situations where humans are either unable or unwilling to participate. Additionally, AIS can be more accurate and efficient in certain tasks than human soldiers. This gives commanders greater flexibility and options when planning combat operations.

In the quest for AI-powered military robots market to help with defense work, attention to the industry is growing. One company, Hanson Robotics, has been working on a trial program for their robot assistants in the Navy. Joining this group are other robotics companies who have been looking into developing AI robots as well. In January of this year, Toyota announced they would be investing $1 billion into artificial intelligence and robotics research. DARPA has said it wants to see 50% of military tasks performed by machines by 2030.

So what does all this mean for the military robots market? Since most defense work is manual labor, reducing cost and time spent on tasks would be an immense benefit. As AI becomes more refined, it will be able to analyze data more effectively and make better decisions – which could free up human resources for more important things. Additionally, smaller AI robots that can navigate complicated environments could help reduce casualties or increase speed in particular areas.

The possibilities are endless and there is no telling where the technology will lead – but one thing is for sure: Defense pros are going to need to pay attention if they want to keep up.

As per SkyQuest analysis of military robots market, in order to bring these benefits to market, manufacturers must overcome several challenges. The first is developing a stable AI system that can properly execute complex tasks. Second, manufacturers must ensure that the systems are safe enough for use in combat environments. Finally, developers must make sure that AIS systems are affordable and able to scale up production quantities.

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Increasing Tension Due to Border Dispute is Adding Fuel to the Demand for Military Robots

Military robots are receiving a lot of attention as countries around the world become increasingly tense with one another. Countries such as US, India, China, and Russia have been investing heavily in military robots market in order to bolster their own capabilities, and firms such as DARPA are always looking for new ways to improve these machines. In fact, DARPA has already awarded contracts worth over millions of dollars to several companies in order to develop more sophisticated military robots.

This growing tension is likely responsible for the high demand for military robots market. Countries such as India, China, Ukraine, and Russia are keen on having these machines at their disposal in order to maintain security, and companies such as Thales Group, BAE Systems, Northrop Grumman Corporation, and Raytheon Technologies are eager to find new ways to improve them. This demand is likely to continue for the foreseeable future, since there is still a lot of room for improvement when it comes to military robots.

The United States is leading the way in developing and deploying these robots in the military robots market, with countries like Israel, China, and India also looking into their use. According to reports, the United States plans to have 10,000 robots in its military by 2028.

While these robots are seen as an efficient way to keep personnel safe, there are concerns that they may be used for more sinister purposes. For example, China has been known to use robots to conduct surveillance on dissidents and other unidentified targets.

Drones are one of the most popular type in the global military robots market. Drones are unmanned aircraft that are used for surveillance or combat missions. They are generally small and easy to operate, making them perfect for use in difficult environments. Drone technology has been rapidly evolving, and new models that are more advanced and efficient than ever before are being developed all the time.

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Top 5 Border Dispute that have Intensified Demand for Drones in the global military robots market:

  • Ongoing war between Russia and Ukraine over border dispute
  • Ongoing war between Azerbaijan and Armenia over border dispute
  • Constant clashes between India and Chia over border dispute for Arunachal Pradesh
  • Constant clashes between India and Pakistan over POK

As a result, manufacturers in the global military robots market are seeing substantial growth in sales. Vendors of these machines say that they are being used in a number of ways, including as scouts and surveillance equipment. They are also being used to carry out tasks such as bomb disposal and rescuing victims from disaster areas.

Key Players in Global Military Robots Market

  •  Northrop Grumman Corporation (The U.S.)
  • Thales Group (France)
  • FLIR Systems, Inc. (The U.S.)
  • Clearpath Robotics Inc. (Canada)
  • Cobham Limited (The U.K.)
  • QinetiQ (The U.K.)
  • AeroVironment, Inc. (The U.S.)
  • BAE Systems. (The U.K.)
  • Elbit Systems Ltd. (Israel)
  • Raytheon Technologies (The U.S.)

Related Reports in SkyQuest’s Library:

Global PC Peripherals Market

Global Graphics Tablet Market

Global Smart Materials Market

Global Medical Robots Market

Global Silicon Photonics Market

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Artificial Intelligence

Lucinity Appoints Udi Nessimyan as President and Chief Revenue Officer

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REYKJAVIK, Iceland, April 24, 2024 /PRNewswire/ — Lucinity , a leader in generative AI for financial institutions, is thrilled to announce the appointment of Udi Nessimyan as its new President and Chief Revenue Officer. Udi brings to the role a wealth of experience from his time in AI development at some of the world’s most prestigious tech companies, including Sealed.ai, Oracle, and Amazon Web Services.

Gudmundur Kristjansson, Founder and CEO of Lucinity, expressed his enthusiasm about Udi’s appointment, stating, “Udi’s proven track record of driving growth and innovation aligns perfectly with our core mission at Lucinity. His strategic acumen and deep industry knowledge are invaluable as we continue to develop and deliver AI solutions that enhance the efficiency and effectiveness of our clients’ operations.”
Udi’s career highlights include co-founding and leading Sealed.ai as CEO, where he spearheaded the development of a cutting-edge conversational AI platform that redefined standards in business communication. At Basis Technology, he was instrumental in driving sales and operational strategies for their flagship products, including Rosette and various Cyber Forensics tools, achieving an annual recurring revenue growth rate exceeding 30%.
In his new role, Udi will focus on refining Lucinity’s approach to marketing, sales, and customer onboarding. His expertise will be crucial in ensuring that Lucinity’s innovative AI solutions are effectively communicated and reach the right audiences, thereby maximizing their impact and facilitating the adoption of the technology.
“Udi’s involvement is vital as we strive to make our AI tools more intuitive and impactful,” said Kristjansson. “His insights and leadership will enhance our ability to deliver these technologies efficiently and effectively, aligning them closely with customer needs and industry demands.”
Under Udi’s leadership, Lucinity is set to deepen its commitment to unleashing human efficiency with AI, expanding the reach and impact of its mission to create AI that makes people better at what they do.
Lucinity thanks its partners and stakeholders for their continued support and interest as it embarks on this exciting new chapter.
About Lucinity:
Lucinity is a leader in generative AI technologies for financial institutions, designed to accelerate workforce efficiency. Its platform features Luci, an AI copilot that enhances intelligence gathering, analysis, and decision-making, allowing institutions to streamline operations and reduce costs. As an open, configurable, no-code platform, Lucinity is a crucial tool for enhancing productivity and operational efficiency in the financial sector.
Media Contact
Celina PabloSenior Marketing [email protected] +354 792 4321
Logo: https://mma.prnewswire.com/media/2208676/4669079/Lucinity_Logo.jpg

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Artificial Intelligence

Resolutions at ASSA ABLOY AB’s Annual General Meeting 24 April 2024

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STOCKHOLM, April 24, 2024 /PRNewswire/ — The Annual General Meeting of ASSA ABLOY AB was held on Wednesday 24 April 2024 in Stockholm, Sweden.

Adoption of income statements and balance sheets and discharge from liability
The Annual General Meeting adopted the parent company’s and the Group’s income statements and balance sheets for the financial year 2023. The members of the Board of Directors and the CEO were discharged from liability for the financial year 2023.
Dividend 
The Annual General Meeting approved the dividend of SEK 5.40 per share proposed by the Board of Directors, to be paid out in two equal installments, the first with the record date Friday 26 April 2024 and the second with the record date Monday 11 November 2024. The first installment is estimated to be paid on Thursday 2 May 2024 and the second installment on Thursday 14 November 2024.
Election of the Board of Directors and auditor
The Annual General Meeting re-elected Johan Hjertonsson, Carl Douglas, Erik Ekudden, Sofia Schörling Högberg, Lena Olving, Victoria Van Camp, Joakim Weidemanis and Susanne Pahlén Åklundh as members of the Board of Directors. Johan Hjertonsson was re-elected as Chairman of the Board of Directors and Carl Douglas was re-elected as Vice Chairman.
The Annual General Meeting re-elected the audit firm Ernst & Young AB as auditor for the time period until the end of the Annual General Meeting 2025.
Remuneration to the Board of Directors and the auditor
The remuneration to the Board of Directors will totally amount to SEK 9,945,000 (excluding remuneration for committee work). Auditor fees shall be paid according to contract.
Resolution on approval of remuneration report
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to approve the Board’s remuneration report.
Resolution regarding authorization to repurchase and transfer Series B shares in the company
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to authorize the Board of Directors to, on one or more occasions, repurchase Series B shares in the company for the period up until the Annual General Meeting 2025. The repurchase shall maximum comprise so many Series B shares that the company’s holding does not at any time exceed 10 per cent of the total number of shares in the company.
Resolution regarding long-term incentive program
The Annual General Meeting resolved, in accordance with the Board of Directors’ previously published proposal, to implement a long-term incentive program for senior executives and key employees within the ASSA ABLOY Group (“LTI 2024”).
Minutes from the Meeting including complete resolutions will be available on the company’s website assaabloy.com/general-meeting.
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world. 
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/resolutions-at-assa-abloy-ab-s-annual-general-meeting-24-april-2024,c3966574
The following files are available for download:
https://mb.cision.com/Main/7333/3966574/2754153.pdf
Press release (PDF)
 

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Artificial Intelligence

GSTS selected by Canada-US Seaways to provide Enhanced Analytics and Voyage Information System Predictability with OCIANA®

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HALIFAX, NS, April 24, 2024 /PRNewswire/ — Global Spatial Technology Solutions (“GSTS” or “the Company”) announced that it has been awarded a contract for a Voyage Information System (VIS) by St. Lawrence Seaway Management Corporation (SLSMC) and Great Lakes St. Lawrence Seaway (GLS) to enhance joint management of bi-national waterways.

GSTS will provide predictions for VIS through OCIANA®, its proprietary, AI powered SaaS platform. OCIANA® is a cyber-secure and scalable system which has been developed in collaboration with, and is used by, ports, shipping lines, pilotage authorities, civil agencies and border security organisations.
At the heart of OCIANA’s offering is robust, predictive data analytics, powered by novel AI algorithms. OCIANA’s data integration framework will assimilate critical information from the Seaway Traffic Management System and GSTS data streams into a predictability model to accurately forecast vessel ETAs, thus providing improved management of voyages and eventually optimizing lockage schedules.
OCIANA® is a flexible platform designed to incorporate the intricate Locks System Rules, ensuring that all vessel movements adhere to safety and operational guidelines. While focusing on a specific segment of the St. Lawrence, vessel management is impacted by dynamic events stretching from the Atlantic approaches to the Great Lakes. The dynamic Lock Schedule Engine leverages various inputs, employing advanced algorithms to manage vessel traffic and schedule lockage, thus enhancing throughput and reducing delays. Through this innovation, OCIANA® will be well positioned to offer superior optimization capability to all major waterways.
“This project will demonstrate OCIANA’s capability to provide unparalleled planning and optimization in a highly dynamic environment impacted by multiple geographic, operational and environmental factors,” said Richard Kolacz, Chief Executive Officer, GSTS. “This award continues to illustrate the versatility of OCIANA® in facilitating enhancements to maritime safety, security and supply chain resilience globally.”
The Great Lakes Seaway system serves as a key supply chain, moving $66B in goods and supporting 356,000 jobs. Optimizing the flow of goods, in a highly dynamic marine trade environment, is crucial to the economies of Canada and the United States.
OCIANA® is configured to adapt to the evolving demands of maritime traffic management, with provisions for incorporating additional data sources and enhancing the Predictability Engine with emerging technologies such as weather machine learning models. GSTS continues to expand its offering to maritime and logistics stakeholders further enhancing its leading position in maritime digitalization and innovation.
About Global Spatial Technology Solutions (GSTS)Global Spatial Technology Solutions (GSTS) is a global maritime intelligence company delivering solutions to enhance decision making across the maritime and logistics industry. Our predictive solutions are enabled by a range of operational, environmental, vessel and cargo data to provide real-time decision making intelligence for ports, terminal operators, shipping lines, logistics companies, importers, exporters, national and international agencies as well as security organisations.
For more information and to explore opportunities to partner with us, contact us today.
Media Contacts: Danica Martis, GSTS, Email: [email protected]

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