Graeme Wearden for The Guardian: The “fourth industrial revolution” will once again be a key theme at this year’s Davos, where the focus will be on the problems created by technologies such as smart robots and driverless cars. The WEF will examine whether the loss to these innovations of millions of jobs is undermining social cohesion and contributing to the rise of populist parties.
Davos will also consider whether increased use of artificial intelligence and the “internet of things” are laying firms open to a new wave of cyberthreats and security beaches. This area of technology has until now been only lightly regulated; is the world ready to hand more decision-making powers to machines? Full article:
EU Parliament News: EU rules for the fast-evolving field of robotics, to settle issues such as compliance with ethical standards and liability for accidents involving driverless cars, should be put forward by the EU Commission, urged the Legal Affairs Committee on Thursday.
Rapporteur Mady Delvaux (S&D, LU) said: “A growing number of areas of our daily lives are increasingly affected by robotics. In order to address this reality and to ensure that robots are and will remain in the service of humans, we urgently need to create a robust European legal framework”. Her report, approved by 17 votes to 2, with 2 abstentions, looks at robotics-related issues such as liability, safety and changes in the labour market.
MEPs stress that EU-wide rules are needed to fully exploit the economic potential of robotics and artificial intelligence and guarantee a standard level of safety and security. The EU needs to take the lead on regulatory standards, so as not to be forced to follow those set by third states, argues the report. Full Release:
The 'intelligent' robot companion that plays chess as a hobby, serves coffee and learns from its own experiences
The Daily Mail: A robot developed by engineers in Taiwan can pour coffee and move chess pieces on a board against an opponent - but he's looking for a real job.
The robot spent last week playing games against opponents at the Consumer Electronics Show in Las Vegas. It was displaying what developers call an 'intelligent vision system' which can see its environment and act with greater precision than its peers.
With this enhanced vision, the robot can perform variety of tasks for service and manufacturing, and can also learn on the job with artificial intelligence. Playing chess is just a hobby showcasing the robot's visual acuity - such as the ability to distinguish between different chessmen- and dexterity in gripping and moving objects. Cont'd...
Steve Arar for All About Circuits: Humans use language to tap into the knowledge of others and learn skills faster. This helps us hone our intuition and go through our daily activities more efficiently. Inspired by this, Google Research, DeepMind (its UK artificial intelligence lab), and Google X have decided to allow their robots share their experiences. Sharing the learning process among multiple robots, the research team has considerably expedited general-purpose skill acquisition of robots.
Using an artificial neural network, we can teach a robot to achieve a goal by analyzing the result of its previous experiences. At first, the robot may seem to act randomly simply working based on trial and error. However, it examines the result of each trial and, if satisfactory, focuses on similar experiments during the next trials. Making a connection between each experience and the obtained result, the robot would be able to gradually make better choices. Cont'd...
Yoshiaki Nohara, Toru Fujioka, and Daniel Moss for Bloomberg: A withering factory town in Japan’s Rust Belt is looking for revival through a dose of Prime Minister Shinzo Abe’s "robot revolution."
Kadoma’s population has declined 13 percent as the nation ages, prompting mergers among elementary schools and emergency services departments. Factories can’t find enough people to run assembly lines, further threatening an industrial base that includes titan Panasonic Corp. and smaller businesses like Izumo Co., a maker of industrial rubber.
Yet Izumo President Tsutomu Otsubo doesn’t believe the solution involves finding more people. He’d rather find more machines to do the work so his company can capitalize on Abe’s plan to quadruple Japan’s robotics sector into a 2.4 trillion yen ($20 billion) industry by 2020. Cont'd...
Brenton Garen for ETF Trends: This year has seen another crowded field of new exchange traded funds come to market and within that group are plenty of niche funds, indicating that ETF issuers continue to slice and dice investment ideas into increasingly fine fund packages.
The Global X Robotics & Artificial Intelligence Thematic ETF (NasdaqGM: BOTZ) is one of those niche funds. BOTZ provides exposure to companies involved in the adoption and utilization of robotics and artificial intelligence (AI), including those involved with industrial manufacturing, medicine, autonomous vehicles, and other applications.
BOTZ follows the Indxx Global Robotics & Artificial Intelligence Thematic Index. The ETF, which debuted in September with the Global X FinTech Thematic ETF (NasdaqGM: FINX) and the Global X Internet of Things Thematic ETF (NasdaqGM: SNSR), holds 28 stocks with an average market cap of $8.8 billion, putting the ETF in mid-cap territory. Cont'd...
Oscar Williams-Grut for Business Insider: Analysts at global investment manager Bernstein believe the "age of industrialization is coming to an end," with robots set to destroy manufacturing jobs globally.
That may not sound seismic. After all, the industrial revolution happened hundreds of years ago and manufacturing jobs have been the minority of all jobs in the West for decades. But Bernstein is arguing that the nature of capitalism is undergoing a fundamental change.
Analysts Michael W. Parker and Alberto Moel argue that Adam Smith's Wealth of Nations, the foundational textbooks of economics, is becoming redundant because of two trends: the rise of robotics and China's modernising economy. Cont'd...
Ruchir Sharma for The Washington Post: The United Nations forecasts that the global population will rise from 7.3 billion to nearly 10 billion by 2050, a big number that often prompts warnings about overpopulation. Some have come from neo-Malthusians, who fear that population growth will outstrip the food supply, leaving a hungry planet. Others appear in the tirades of anti-immigrant populists, invoking the specter of a rising tide of humanity as cause to slam borders shut. Still others inspire a chorus of neo-Luddites, who fear that the “rise of the robots” is rapidly making human workers obsolete, a threat all the more alarming if the human population is exploding.
Before long, though, we’re more likely to treasure robots than to revile them. They may be the one thing that can protect the global economy from the dangers that lie ahead. Cont'd...
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