Paul Mampilly is an investment guru with a focus on investing in new technologies, specifically robotics. Recently, at the Las Vegas Total Wealth Symposium, he presented a new piece of technology, the K5 security robot from Knightscope. Paul Mampilly sat down with Knightscope CEO William Santana Li, a former executive at Ford Motor Company.
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During the interview the two discuss the financial and psychological aspects of security robots, as well as discuss Li’s desire to make the United States the safest country in the world, a goal he sees as a personal mission but also a financial gold mine.
Li tells Paul Mampilly that as someone who was born in New York, 9/11 made Li take his nation’s security seriously. He points out the bureaucracy of our current law enforcement system, and how it wastes billions a year with turnover, administration costs and other expenses of the industry that are ultimately paid for by the citizens of the United States. With public and private security organizations costing anywhere from $25 an hour to $85 an hour, the K5 robot can do the same basic job as a security guard from between $6 and $12 an hour- a sizable savings for the public.
Another problem that Li and Paul Mampilly see in private security is that the low pay and somewhat dull job conditions lead to massive turnover that can be up to 400% of staff in a year. Robots would not have this problem, nor the boredom and lack of efficiency that said boredom can bring from a human guard. Robots don’t get bored or slack off at work: They are always giving 100%, as long as they have a charge of at least 1%.
Socially, the challenge becomes making a robot that is intimidating enough to be noticed, but not frightening to people. At 5 feet and four hundred pounds, the K5 is difficult to miss and mess with but not so huge that the average person would become terrified.
By saving so much government money and providing additional security, Li hopes to change society for the better.