The U.K. government has just released a thoughtful report on the potential of AI, along with some jolly sensible recommendations for making the most of the profoundly important technology. The report, coauthored by the Department for Digital, Culture, Media & Sport and the Department for Business, Energy & Industrial Strategy, concludes that "AI offers massive gains in efficiency and performance to most or all industry sectors, from drug discovery to logistics." The technology "can be integrated into existing processes, improving them, scaling them, and reducing their costs, by making or suggesting more accurate decisions through better use of information," it adds. And this could add a whopping $814 billion to the U.K. economy by 2035. To benefit from the AI boom, it says, the U.K. should develop "data trusts" so that data can be shared more easily and securely, and it should make research data more accessible to machines.
Artificial intelligence and Big Data are merely technical assistants to investment advisors, and will not completely replace advisors, David Leung, managing director of Standard Chartered Plc's [LSE:STAN] wealth department in China, told Yicai Global in an interview. The two technologies do help save time in facilitating our investment decisions and choosing where to put money, and they do make our work more accurate, Leung said. However, AI will never replace investment advisors. For example, in August last year, Standard Chartered released the first mobile trading platform among foreign-backed banks in China. The app offers direct advice to investors along with detailed explanations, but 90 percent of clients still choose to communicate directly with their own customer managers or advisors.
Of all the legged robots built in labs all over the world, few inspire more awe and reverence than Boston Dynamics' quadrupeds. Chinese roboticist Xing Wang has long been a fan of BigDog, AlphaDog, Spot, SpotMini, and other robots that Boston Dynamics has famously introduced over the years. "Marc Raibert … is my idol," Wang once told us about the founder and president of Boston Dynamics. Now Wang, with funding from a Chinese angel investor, has founded his own robotics company, called Unitree Robotics and based in Hangzhou, outside Shanghai. Wang says his plan is making legged robots as popular and affordable as smartphones and drones.
ARTIFICIAL INTELLIGENCE could be making an appearance in your daily commute, as evidenced by emerging applications for the technology in urban environments such the latest development in Alibaba's "City Brain" initiative. Zheng Yijiong became the first ever traffic officer to blend the artificial intelligence with good old human intuition in order to improve and regulate traffic condition throughout the city, according to China Plus. Working in Hangzhou, the birthplace of Alibaba in the eastern Chinese Zhejiang Province, Zheng became a test case in the Hangzhou government's efforts to boost itself to smart city status. Zheng was trained for two months in the "City Brain" project's traffic initiatives which is aimed at bringing Alibaba's Ali Cloud artificial intelligence capabilities for real-time traffic predictions which could help police officers better organize and plan strategies. The predictions will come complete with video and image recognition technologies.
When Starbucks (SBUX) announced the closure of all of its 379 Teavana stores by the spring of 2018, it came as a warning signal to many analysts. But for long-term investors, Starbucks future growth prospects could look more promising. Acquired in 2012 for $620 million, Teavana stores are set to close due to declining foot traffic in malls. As a result of this retrenchment, Starbucks incurred asset impairment and goodwill charges of roughly $100 million during the third quarter. Following the news, Starbucks shares fell 1.2% to $58.80 in after-hours trading.
Traffic policewoman Zheng Yijiong, 24, works in Hangzhou City, the capital of East China----s Zhejiang Province. Zheng is the first Chinese police officer to work with the assistance of artificial intelligence in a local police unit called TPTU, which is responsible for rapid responses to road issues.
NVIDIA's meteoric growth in the datacenter, where its business is now generating some $1.6B annually, has been largely driven by the demand to train deep neural networks for Machine Learning (ML) and Artificial Intelligence (AI)--an area where the computational requirements are simply mindboggling. First, and perhaps most importantly, Huang announced new TensorRT3 software that optimizes trained neural networks for inference processing on NVIDIA GPUs. In addition to announcing the Chinese deployment wins, Huang provided some pretty compelling benchmarks to demonstrate the company's prowess in accelerating Machine Learning inference operations, in the datacenter and at the edge. In addition to the TensorRT3 deployments, Huang announced that the largest Chinese Cloud Service Providers, Alibaba, Baidu, and Tencent, are all offering the company's newest Tesla V100 GPUs to their customers for scientific and deep learning applications.
I try to show [earlier cases of] how humans tried to manage their algorithms, by talking about [how Google improved] search quality. The strategies put in place after World War II that worked for this period of 30 years have stopped working so well, so we came up with something else [which happened to create income inequality]. Here we have this amazing new technology, which is transforming an industry and putting more people to work than worked in that industry before, creating great consumer surplus, and yet it has ridden roughshod over cities, and exploited drivers. If that's the case, the systems we are building today, like Google and Facebook and financial markets, are really more important than the fake ethics of worrying about some far future AI.
Supported by the Chinese Ministry of Industry and Information Technology and Guangzhou Municipal Government, the conference is hosted by International Data Group (IDG), co-hosted by Guangzhou Science Technology and Innovation Commission, co-organized by the Publicity Department of Guangzhou Municipal Party Committee, the Foreign Affairs Office of Guangzhou Municipal Government, the Industry and Information Technology Commission of Guangzhou Municipality, organized by IDG World Expo, and also supported by ChinaSF, an economic initiative of San Francisco. Government officials attending the ceremony included Wen Guohui, Mayor of Guangzhou; Wang Dong, Deputy Mayor of Guangzhou; Zheng Haitao, Deputy Director-General of Guangdong Science and Technology Department; Ma Zhengyong, Party Secretary of Haizhu District, Guangzhou; Wang Guilin, Director of Guangzhou Science Technology and Innovation Commission, and many others from Guangzhou Publicity Department, Guangzhou Municipal Development and Reform Commission, the Industry and Information Technology Commission of Guangzhou Municipality, Guangzhou Education Bureau, the Health and Family Planning Commission of Guangzhou Municipality, the Foreign Affairs Office of Guangzhou Municipal Government, the Administration of Sports of Guangzhou Municipality, Guangzhou Municipal Bureau of Financial Work, Tianhe District, Haizhu District, Development District, Nansha District, etc. In the afternoon of Oct.12th, there was a grand activity: during the 2nd Guangzhou Internet Technology think tank closed meeting, the Mayor of Guangzhou, Wen Guohui conferred "Engagement Letter of Senior Advisor of Scientific and Technological Industry of Guangzhou Municipal Government" to more than 10 experts such as Piero Scaruffi, Joe Weinman, Peter Marx, Wang Jianya, Zhu Dongfang, Wang Yang, Cui Baoqiu, Wang Pei, Zhang Jianwei, Chen Zhenguo, Zhu Mingyue.