JPMorgan to employ trading robot because it’s more efficient than humans

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”.

Hirotec on long journey towards lights-out manufacturing with robots from Otto and Yaskawa

“Lights-out manufacturing” is a term to mean the method of making things in a way that’s entirely automated and does not need humans to be involved in the process. 

Of course, humans initially set up the process, build the factory and so on, but the factory which outputs the final product only requires robotics and automation technology.

It’s an idea that has probably been explored in science fiction many times, but in reality, a fully automated factory that needs no human intervention at all is still a distant dream.  Continue reading Hirotec on long journey towards lights-out manufacturing with robots from Otto and Yaskawa

Video: F&P Robotics boss says he wouldn’t trust the thinking, feeling robots of the future

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.

In an interview with RoboticsAndAutomationNews.com, recorded at Hannover Messe in Germany (video above), Dr Hansruedi Früh says the only difference between humans and robots, at the moment, is “self-reflection, which only humans and very few animals have”, but robot learning is progressing and that their consciousness is inevitable.  Continue reading Video: F&P Robotics boss says he wouldn’t trust the thinking, feeling robots of the future

Integrating industry with the universe

kuka robot at hannover messe
A scene from last year’s Hannover Messe, which attracted more than 200,000 visitors

lockHannover Messe is widely regarded as the world’s leading trade fair for industrial companies – particularly those in engineering, robotics, and automation.

Held in Germany every year in April, the event attracts more than 200,000 visitors and over 5,000 exhibitors.

Considered to be the most important exhibition of its type, last year the special guests were German Chancellor Angela Merkel, and US President Barack Obama.  Continue reading Integrating industry with the universe

Artificial intelligence is better than humans, says IBM

Rashik Parmar, lead IBM cloud advisor, Europe
Rashik Parmar, lead IBM cloud advisor, Europe

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.

Full story at em360tech.com

Finland to give citizens universal basic income because of robot invasion

finland

lockFinland is in danger of developing a reputation either as a nation of visionary ideas or one full of utopian communists. 

Not many years ago, the country’s leaders declared superfast access to the internet a human right – which is fair enough.

Now it’s giving away free money to a couple of thousand of its citizens in anticipation of robots taking over their jobs and making them redundant.  Continue reading Finland to give citizens universal basic income because of robot invasion

Robotic concierge: Exclusive interview with Savioke boss

Just ahead of appearing at the Consumer Electronics Show, Steve Cousins, CEO of Savioke gives Robotics and Automation News an exclusive interview

Some months ago, just after we started this website, we published a story about a new robotic concierge for hotels, launched by Savioke.

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

The new matrix: Guidelines for ethical robot design

matrix-revolutions-battle scene

Leroy Spence, head of sales development at EU Automation, explains the new technical standards for robot design and the potential impact on industry 

In The Matrix, a lack of robot ethics leads to the destruction of the human race, with robots enslaving humans in a simulated reality. 

Despite it being a prolific cinematic theme, robot ethics has not been discussed much in industry until now.

However, the most recent technological advancements in the field have led to the introduction of a new UK standard for robot designers.  Continue reading The new matrix: Guidelines for ethical robot design

The future of work: Generation Z against the Machine

kuka writing robot

Stephen Parker, CEO of digital engagement specialist Parker Software, explains how businesses can use technology to enhance jobs rather than replace them

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.

Many of us have heard about the idea of automation anxiety, which is the fear that robotics and software will one day come to replace humans in the workforce.  Continue reading The future of work: Generation Z against the Machine

Protecting humans from robots in the workplace

fanuc industrial robot

In advance of the Next-Generation Collabrative Robots & Automation Technologies 2016 conference (August 17-18, Detroit MI), we spoke to Matt Epperson, compliance safety and health officer, Department of Labour, Occupational Safety and Health Administration

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?

It is more important now since there are many unknown variables related to this new technology. It is very important for industry to share ideas and best practices when it comes to protecting their workforce from workplace injuries.  Continue reading Protecting humans from robots in the workplace

If AI ruled the world: Exclusive interview with Jane Zavalishina, CEO, Yandex Data Factory

Jane Zavalishina YDF_2 small
Jane Zavalishina, Yandex Data Factory

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.

And like the concept of the omnipresent deities that many religious people believe in, AI – and its attributes of machine learning and deep learning and so on – has inspired a massive global following which is growing every day. Continue reading If AI ruled the world: Exclusive interview with Jane Zavalishina, CEO, Yandex Data Factory

Fear not the cobot, says European Automation

collaborative robot

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

To err is human. To forgive is beyond the capacity of Googlebot, for now at least

Picture courtesy of Unity Ecommerce
Picture courtesy of Unity Ecommerce

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.

The visitor, who we did not know, was apparently located overseas. It was a random request by one of us in the office who thought it was a good idea at the time. Turned out, it wasn’t a good idea at all.  Continue reading To err is human. To forgive is beyond the capacity of Googlebot, for now at least

Mercedes replaces robots with humans

Mercedes-Benz_SLR_McLaren_2_croppedWith 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.”

Full story at Bloomberg Business.