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People trust robots more than themselves with money, according to global study

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Research shows growing confidence among consumers and business leaders that robots handle finance tasks better than people

2020 has changed our relationship with money and people now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi.

The study of more than 9,000 consumers and business leaders in 14 countries found that the COVID-19 pandemic has increased financial anxiety, sadness, and fear among people around the world and has changed who and what we trust to manage our finances.

In addition, people are rethinking the role and focus of corporate finance teams and personal financial advisors, according to the research. [Read more…] about People trust robots more than themselves with money, according to global study

Bobacino launches robotic tea bar

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A startup company called Bobacino has launched its automated Boba Tea Bar, which uses a robotic arm to make beverages for customers. (See video below.)

Bobacino says it is bringing the “unique boba tea experience” to a growing audience of boba aficionados and new enthusiasts through advanced artificial intelligence, automation and robotics.

The company has launched on StartEngine, a crowdfunding platform, to target a market that it forecasts is set to hit $8.4 billion by 2024. [Read more…] about Bobacino launches robotic tea bar

Piestro partners with Kiwibot to bring ‘automated artisan pizzas’ to your door

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Piestro, a start-up automating artisan pizza creation, is partnering with Kiwibot, the robotics company providing “affordable and accessible” delivery services, to offer consumers a touchless, contactless pizza delivery experience.

The partnership follows a successful campaign to raise finance on crowdfunding platform StartEngine, where Piestro had an oversubscription of investor interest.

As a result, Piestro will open a second funding campaign on StartEngine to give more everyday investors an opportunity to bring fresh, quality pizza to the masses. [Read more…] about Piestro partners with Kiwibot to bring ‘automated artisan pizzas’ to your door

Walmart deal helps Shopify shares skyrocket more than 300 percent

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Shopify shares have skyrocketed to all-time highs over the past few weeks, largely as a result of its new partnership with Walmart. Shopify is the first online commerce platform partner that Walmart has signed such a deal with. 

The agreement, agreed in June, allows Shopify – which bought warehouse robot maker 6 River Systems last year for $450 million – to put 1,200 of its merchants into Walmart’s marketplace

Walmart is America’s largest retail chain, with annual revenues of more than $500 billion. The vast majority of its sales are in brick-and-mortar stores, but the company has recently been making a big push into the digital space. [Read more…] about Walmart deal helps Shopify shares skyrocket more than 300 percent

Oil-producing nations struggling with economic woes as society shifts towards electric movement

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Oil-producing nations located in the Middle East and North Africa are struggling with their economies, most of which are not diversified enough to offset the losses caused by falls in the price of crude.

A quick check shows that the current price of a barrel of crude oil – which is about 160 litres – is just above $40, which is significantly lower than certainly Arab countries need it to be.

According to the Economist, Algeria needs the price to be about $157 a barrel, while Oman wants to get to at least $87. [Read more…] about Oil-producing nations struggling with economic woes as society shifts towards electric movement

Electric vehicles drop in price, but ‘most remain unprofitable’, says Lux Research

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Electric vehicles have fallen in price, but “most remain unprofitable”, according to Lux Research.

The automotive industry is under pressure to reduce emissions, both from government regulations and from consumers who are growing more conscious about the environmental impact of their vehicles.

Electrified powertrains are a promising avenue to reduce or eliminate vehicle emissions for automakers. [Read more…] about Electric vehicles drop in price, but ‘most remain unprofitable’, says Lux Research

XPO Logistics expands last mile service in Spain to meet increase in online orders of large products

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XPO Logistics, a leading global provider of transportation and logistics solutions has expanded its last mile service for bulky and heavy goods in Spain, as consumers turn to e-commerce.

The company makes an estimated 4,500 daily deliveries to all parts of Spain through its national last mile network, with the highest demand in the regions of Madrid, Barcelona, Andalucía and Levante.

XPO launched its last mile service in Spain in 2018, providing consistent, nationwide home deliveries through 60 distribution sites linked by cutting-edge technology. [Read more…] about XPO Logistics expands last mile service in Spain to meet increase in online orders of large products

Cashier-less shopping ‘not in demand’ for US small businesses

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Small businesses should keep their cashiers, according to the 2019 Cox Business Consumer Pulse on Small Businesses in the US.

The Amazon Go cashier-less shopping model is only of growing interest among respondents ages 18-29 – up eight percentage points from last year. Seventy-seven percent of surveyed consumers prefer to interact with other people at the checkout.

The preference for person-to-person interaction likely has to do with the level of service small businesses deliver. Fifty-three percent of surveyed consumers said small businesses provide better customer service than larger businesses.

[Read more…] about Cashier-less shopping ‘not in demand’ for US small businesses

Samsung moves into the vertical farming market

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Agricultural innovations are essential for feeding our ever-growing global population.

Especially these days, as industrialisation and global warming continue to negatively affect soil fertility and reduce the amount of arable land.

According to the United Nations, the world’s population is set to reach 9.8 billion by 2050.

[Read more…] about Samsung moves into the vertical farming market

Food manufacturers are turning to robots to meet customers’ needs, says ING report

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The importance of technology for food manufacturers continues to grow, according to a new ING report, Food tech: technology in the food industry.

The research report revealed the use of robots in the European food industry is becoming more commonplace, with a 50 per cent increase in the sale of robots to the food industry over the last five years.

The research also uncovered the growing demands from retailers and consumers is having an impact on the uptake of technologies like robotics in the industry. [Read more…] about Food manufacturers are turning to robots to meet customers’ needs, says ING report

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