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”.
The founder and managing director of F&P Robotics says he wouldn’t trust the robots of the future because they will become conscious and capable of taking over the world, and possibly enslaving humans.
The experienced roboticist, who has a background in natural sciences and brain research, says it’s only a matter of time before artificial intelligence-powered robots start thinking about big questions – like, who created the universe and what is the point of humans.
IBM prefers artificial intelligence to humans, according to an interview published on em360tech.com, in which one of the company’s most senior executives says humans can’t see what’s right in front their faces while AI sees everything, as well as things that aren’t even there.
Rashik Parmar, IBM’s lead cloud advisor for Europe and one of the Watson team, says algorithms are smarter than humans will ever be, and that AI can spot patterns in large-scale enterprise architecture that human beings cannot.
AI can “make connections that you wouldn’t be able to make yourself”, claims computer fanatic Parmar.
The company calls the robot “Relay”, although its buyers often give it nicknames – Dash, Botlr, and Wally are just some examples.
Relay is not really a concierge – we just like that word… concierge… makes our website sound sophisticated. But anyway, the robot is smart enough to navigate its way within complex hotel interiors, with all their zig-zagging corridors and winding hallways, as well as their lifts with the slight gaps and uneven surfaces at the entrances.
These navigational challenges would of course not be a problem for most humans – we wouldn’t even think about them. Most of us are fortunate enough to be able to get around in hotels or in any other buildings quite easily – all the manoeuvring involved doesn’t present any difficulty, no matter how complex it may be. Continue reading Robotic concierge: Exclusive interview with Savioke boss
There is a persistent myth that the rise of automation, robotics and software is a recipe for disaster. Many people worry that technological innovation will lead to the demise of human jobs, otherwise known as structural unemployment.
These claims are dangerous for “generation Z”, creating an uneasy atmosphere of automation anxiety and paranoia over job security.
With the industry now witnessing an influx of next-generation collaborative robotics and automation technologies, how important is it for the automotive industry and technology providers to come together and share best practices for driving safer, faster and more profitable manufacturing and maintaining a solid life-cycle?
Some people say artificial intelligence will eventually take over the world, and make humans obsolete and useless in large parts of society, starting with firing us from all employment – low-skilled or high. Others say it’s already happened – that AI rules the world.
From artificially intelligent assistants which answer your emails and manage your diary, to artificially intelligent industrial robots that can custom manufacture products to individual customer specifications and that can tell you when they need a little maintenance, not to mention the AI in the latest cars of today which can brake and change lanes to avoid you having an accident because you fell asleep at the wheel, AI is everywhere.
Jonathan Wilkins, marketing director of industrial automation supplier European Automation, discusses the newest and perhaps most exciting realm of industrial robotics –collaborative robots
The world’s first industrial robot was an idea conceived after a conversation about science fiction novels between inventors George Devol and Joseph Engleburger in 1954. Six years later, Unimate had secured its place in the robotic hall of fame as the world’s first industrial robot.
It was then put to work on the General Motors assembly line in 1961. Inevitably, the public were sceptical of the safety issues surrounding Unimate. And with only Gort, the laser-firing robot from the 1950s sci-fi movie The Day the Earth Stood Still for reference, who can blame them? But after 50 years of practice, today’s industrial robots are a much less scary affair. Continue reading Fear not the cobot, says European Automation
About 10 years ago, this company launched a website – a women’s clothes and accessories boutique. Our collective web publishing skills and experience was limited as we are journalists by profession. We initially decided to carry advertisements from Google AdSense. We signed up and placed some of their ads on the website. It was an interesting learning process.
But fashion being a very highly competitive publishing sector, our website was getting very few visitors, measured in the hundreds per week, and none of them were clicking on the Google ads. It occurred to us that maybe there was a technical problem with the way we had integrated AdSense, so we asked one of our visitors to test the ad by clicking on it.
With all the current talk of robots taking over the world, and replacing millions of workers everywhere, laying waste to economies and societies everywhere, it is surprising that a company known for its advanced technology is replacing robot workers with human workers.
Prestige auto brand Mercedes has been employing more humans and fewer robots at its car factories because apparently its customers want vehicles with a high degree of customisation which is beyond the capabilities of robots, no matter clever they are.
In an interview with Bloomberg Business, Markus Schaefer, the German automaker’s head of production, says: “Robots can’t deal with the degree of individualization and the many variants that we have today. We’re saving money and safeguarding our future by employing more people.”