One of the world’s largest investment banks, JPMorgan, is preparing to employ a robot to work in its global equities business because it’s shown itself to be more efficient than traditional methods of buying and selling, according to a report on the Financial Times website.
The artificial intelligence-based algorithm, which is called LOXM, has been tested in the US and Asia over the first quarter of this year, adds the FT.
The newspaper quotes David Fellah, of JPMorgan’s European Equity Quant Research team, as saying the work LOXM will do was previously done by humans, “but now the AI machine is able to do it on a much larger and more efficient scale”.
Mobile robotics in material handling and logistics will become a $75 billion market by 2027, according to a new report, which adds that it will be more than double by 2038.
These staggering headline figures mask turbulent transformative change underneath: some technologies will rise and transform the fortunes of industries, fuelling growth rates far outpacing recent trends, whilst others will face with decay and obsolescence.
China’s unique set of urban transportation challenges, very high rate of adoption of mobile internet services, and rapid and aggressive introduction of alternative mobility solutions have combined to make China a global breeding ground for mobility innovation.
The deeply-rooted automotive industry business model is experiencing disruption.
Despite slowdowns in certain industries, Vietnam’s automation and control systems market is witnessing stable growth, according to a report by Frost & Sullivan.
Robust expansion in the manufacturing and construction sectors plus increased foreign direct investment, growing end-user need to optimize processes and improve efficiency, and development of special economic zones are factors fuelling growth.
Brain Corp, an artificial intelligence company specializing in the development of self-driving technology for robots, has raised $114 million in a Series C funding round led by the SoftBank Vision Fund.
Brain has developed AI and self-driving technology to enable robots to perceive their environment, learn to control their motion, and navigate using visual cues and landmarks while avoiding people and obstacles.
Despite an endless stream of stories in the media warning of humanity’s impending irrelevance in an automated future, it seems American workers remain rather blasé about the prospect of being automated out of existence in the workplace.
New research by Randstad US contradicts many reports that American workers fear losing their job due to automation.
Government incentives and adoption of new technologies are driving the growth of the Malaysian automation and control systems market, according to a new report.
The Malaysian automation and control systems market, one of the biggest for suppliers, is stable and growing, says the study by Frost & Sullivan, which projects the market to be worth more than $409 million in the next four years.