We believe the world is entering a new era where intelligent robots will become increasingly prevalent in factories, warehouses, hotels, hospitals, shops and homes. Aging populations, structural labor shortages, rising labor costs and the drive for continuous productivity enhancement create growing demand for both industrial and service robots, according to Frost & Sullivan. Labor shortages are expected to become particularly acute for jobs that are dangerous, tedious or generally less desirable, creating demand for robotic substitutes. The robotics industry is now at the turning point where a new generation of robots is emerging, according to Frost & Sullivan. This new generation of robots is more cost-effective to produce, more maneuverable, capable of dynamic learning and therefore increasingly competent to operate in uncontrolled environments. As a result, robots are expected to assist and potentially replace humans in roles such as receptionists, cleaners, security guards, and domestic helpers, among others.