We share new announcements and research in the field of deep learning.

This post highlights some of the possible economic implications of the so-called "Fourth Industrial Revolution" -- whereby the use of new technologies and artificial intelligence (AI) threatens to transform entire industries and sectors. Some economists have argued that, like past technical change, this will not create large-scale unemployment, as labour gets reallocated. However, many technologists are less optimistic about the employment implications of AI. In this blog post we argue that the potential for simultaneous and rapid disruption, coupled with the breadth of human functions that AI might replicate, may have profound implications for labour markets. We conclude that economists should seriously consider the possibility that millions of people may be at risk of unemployment, should these technologies be widely adopted.

By transforming their networks and operations with the newest technologies, mobile operators could double their cash-flow conversion within five years. The past several years have been tough for telecom companies. Their revenue and cash flows1 1. Cash flow is measured here in terms of earnings before interest, taxes, depreciation, and amortization (EBITDA) minus capital expenditures. Consumption of mobile data boomed, as masses of new wireless customers used their handsets to spend ever-increasing amounts of time online. Companies responded by investing heavily in their wireless networks, even as subscriber growth slowed. As a result, the average ratio of capital spending to revenues has remained stubbornly high, at around 15 percent, for the major players (Exhibit 1).

In 1945, Vannevar Bush published "As We May Think." In it he proposed a Memex, a massive microfilm storage device where users could navigate between documents to concepts throughout the database. His concept directly inspired the invention of hypertext by Ted Nelson and Douglas Engelbart. The hyperlinking that enables so much of our online experience-- such as this link regarding hypertext-- owes much to Bush's vision. What new media might arise as a result of advances in Artificial Intelligence (AI)?

Ducati Corse Races Ahead of the Pack with Accenture and Machine Learning Intelligent MotoGP Racing Bikes Build New Aptitude for Optimal Results MOBILE WORLD CONGRESS, BARCELONA; February 27, 2017 – Ducati Corse, the racing department of Ducati Motor Holding, a world leader in sports motorcycle manufacturing, is working with Accenture (NYSE: ACN) to integrate Internet of Things (IoT) and Artificial Intelligence technologies into the testing of its MotoGP racing bikes. Ducati Corse wants to make testing its race bikes faster, cheaper and more effective. Accenture Analytics, already Official Digital Partner to the Ducati Team racing in the MotoGP World Championship, has lately been working with them to create an intelligent testing approach with a bespoke analytics engine. Integrated Machine Learning technologies mean that the more data that enters the system, the more configurations are available for testing with increasingly accurate performance predictions. Data visualization tools designed for an intuitive user experience will allow testing engineers to interact with insights, tweaking them at any point to create a new perspective on configurations and race times.

At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours. The program, called COIN, for Contract Intelligence, does the mind-numbing job of interpreting commercial-loan agreements that, until the project went online in June, consumed 360,000 hours of work each year by lawyers and loan officers. The software reviews documents in seconds, is less error-prone and never asks for vacation. Attendees discuss software on Feb. 27, the eve of JPMorgan's Investor Day. While the financial industry has long touted its technological innovations, a new era of automation is now in overdrive as cheap computing power converges with fears of losing customers to startups.

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I imagine if we were sitting in a room decades ago as farmers, we would rightfully be worried about our future employment. However, as the world evolved, new jobs were created in industries we never would have fathomed would exist. Brent Schutte is the chief investment strategist of Northwestern Mutual Wealth Management Company. Today Americans seem to be at odds with themselves when it comes to their feelings on economic growth. People are worried about a future lack of economic growth due to a less productive workforce.

Applied machine learning

Telecommunications firm Verizon has acquired Skyward, a drone operations management company. Skyward develops software for drone operators to manage flight tracking and logging, maintenance scheduling, and contract management. The drone startup will join Verizon's Internet of Things portfolio. Kenya's government has implemented regulations for commercial drone use. The Kenya Civil Aviation Authority will begin allowing businesses to import and use drones for a range of operations.