Oceania
Universal Basic Income: What If the Problem Isn't Automation but Work Itself?
We've all been warned about the upcoming machine takeover in the world of work. Studies have shown that 47 percent of jobs in the United States are expected to be replaced by smart machines and other forms of automated systems in the next decade or so. In Southeast Asia, about 137 million workers are bound to lose their jobs to automation in the next 20 years. In fact, it's already happening for some companies including Walmart, Barclays, and a life insurance firm in Japan -- not to mention Amazon Go, the retail store of the future. Automation is going to be a problem as far as employment is concerned.
The cougar effect: Women get far less picky about a partner's intelligence the older they get
Most online daters prefer to contact people with the same level of education as them, but a new study suggests that as people grow older they become less picky about it. Researchers based at Queensland's University of Technology, Australia, analyzed the online dating behaviors of 41,000 Australians aged between 18 and 80. The researchers said that humans usually look for similar characteristics and traits in a partner in areas such as age, attractiveness and culture, however, the internet has changed this process. Researchers based at Queensland's University of Technology, Australia, analyzed the online dating behaviors of 41,000 Australians aged between 18 and 80 The researchers analyzed the behaviors of people using the online dating website'RSVP' during a four month period in 2016. Mr Stephen Whyte, a behavioural economist and co-author of the study, said: 'Selecting a mate can be one of the largest psychological and economic decisions a person can make and has long been the subject of social science research across a range of disciplines.
Mice turn into killers when brain circuit is triggered by laser
Researchers have identified the brain region that controls hunting, and have found a way to switch it on and off. Ivan de Araujo at Yale University and his team have discovered that two sets of neurons in the mouse brain underpin the instinct to kill. One coordinates the pursuit of prey, while the other controls the neck and jaw muscles used for biting. Both are in the amygdala โ the part of the brain involved in motivation, emotion and fear. By modifying these neurons so they could be activated by laser light, a technique called optogenetics, the team were able to switch these circuits on whenever they wanted.
Amazon Echo calmly pronounces the longest place name in Europe like it's NBD
Turns out if you ask your Amazon Echo the same question, the plucky little machine reels the name off with absolutely no problem at all. This is how it starts, people. Today they're calmly pronouncing our Welsh village names, but before we know what's hit us they'll be forcing us to speed-read binary for their own diabolical, mechanical amusement. Drone video shows stunning fields of green after rain in Australia's Outback
What Happens When AI Rewires Wealth Management?
ANZ, in Melbourne, Australia, was among the first banks to explore the possibilities -- it began using IBM's Watson to help its financial advisers understand their clients in 2013. The hedge fund Bridgewater Associates hired the former chief engineer behind IBM's Watson supercomputer in 2013 to create a unit that would use AI to predict market trends. BlackRock built its own artificial intelligence engine to assist its investment managers and clients. Goldman Sachs uses the AI-based financial research platform Kensho. UBS, Deutsche Bank and others are using an AI engine called Sqreem.
AI replacing human staff at Japanese insurance company
They never take days off and never strike -- artificial intelligence is set to replace more than 30 human workers at a Japanese insurance firm. The system will be based on IBM's Watson Explorer technology, and will help calculate payouts to Fukoku Mutual Life Insurance policyholders from January 29, the company said in a statement. IBM describes Watson as "cognitive technology that can think like a human". The AI will scan hospital records and medical certificates, and then extract data on injuries, patient medical histories and administered procedures to determine insurance payouts. Fukoku Life said it hoped the AI would increase productivity by 30 per cent, although final payments will still be processed by human staff.
Colonial First State and UTS use machine learning to predict investors
Colonial First State data scientists are working with a team of computer engineering PhDs from the University of Technology, Sydney, to develop deep learning algorithms to predict investor responses to market shocks and tailor the communication of financial advice. A five-year partnership between Commonwealth Bank of Australia-owned CFS and UTS has resulted in the asset manager providing 20 years of investment and behavioural data for 1 million customers to machine learning researchers at the university, who are using its cutting-edge super-computers to forecast investor reaction. Peter Chun, the general manager of product and investment at Colonial First State, said artificial intelligence and big data analytics will also help the asset manager predict which customers might be more receptive to investment opportunities. He points to the example of the government's non-concessional contribution rules for superannuation; customers have a window of opportunity before June 30 to invest more than the caps.
What happens when AI rewires wealth management?
Asked if a computer will ever be able to give better investment advice than a human, Oliver Bussmann does not hesitate. "I believe it's possible," said Bussmann, who until March was the chief information officer of UBS. Banks' wealth management departments and other investment firms are starting to adopt artificial intelligence. This is different from robo advisers. Those have simplistic, rules-based models -- you give them your age, risk tolerance, goals, and so on and they select a basket of ETFs for you.
Beyond Robo-Advisers: How AI Could Rewire Wealth Management
Asked if a computer will ever be able to give better investment advice than a human, Oliver Bussmann does not hesitate. "I believe it's possible," said Bussmann, who until March was the chief information officer of UBS. Banks' wealth management departments and other investment firms are starting to adopt artificial intelligence. This is different from the robo-advisers you've probably heard about. Those have simplistic, rules-based models -- you give them your age, risk tolerance, goals, and so on and they select a basket of exchange-traded funds for you.