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Remember the 1980s movie Brewster’s Millions, in which a minor league baseball pitcher (played by Richard Pryor) must spend $30 million in 30 days to inherit $300 million? Pryor goes on an epic spending spree for a bigger payoff down the road.
One of the world’s biggest public companies is making that film look like a weekend in the Hamptons. Japan’s SoftBank Group, led by its indefatigable CEO Masayoshi Son, is shooting to invest $100 billion over the next five years toward what the company calls the information revolution.
The newly-created SoftBank Vision Fund, with a handful of key investors, appears ready to almost single-handedly hack the technology revolution. Announced only last year, the fund had its first major close in May with $93 billion in committed capital. The rest of the money is expected to be raised this year.
The fund is unprecedented. Data firm CB Insights notes that the SoftBank Vision Fund, if and when it hits the $100 billion mark, will equal the total amount that VC-backed companies received in all of 2016—$100.8 billion across 8,372 deals globally.
The money will go toward both billion-dollar corporations and startups, with a minimum $100 million buy-in. The focus is on core technologies like artificial intelligence, robotics and the Internet of Things.
Aside from being Japan’s richest man, Son is also a futurist who has predicted the singularity, the moment in time when machines will become smarter than humans and technology will progress exponentially. Son pegs the date as 2047. He appears to be hedging that bet in the biggest way possible.
Show Me the Money
Ostensibly a telecommunications company, SoftBank Group was founded in 1981 and started investing in internet technologies by the mid-1990s. Son infamously lost about $70 billion of his own fortune after the dot-com bubble burst around 2001. The company itself has a market cap of nearly $90 billion today, about half of where it was during the heydays of the internet boom.
The ups and downs did nothing to slake the company’s thirst for technology. It has made nine acquisitions and more than 130 investments since 1995. In 2017 alone, SoftBank has poured billions into nearly 30 companies and acquired three others. Some of those investments are being transferred to the massive SoftBank Vision Fund.
SoftBank is not going it alone with the new fund. More than half of the money—$60 billion—comes via the Middle East through Saudi Arabia’s Public Investment Fund ($45 billion) and Abu Dhabi’s Mubadala Investment Company ($15 billion). Other players at the table include Apple, Qualcomm, Sharp, Foxconn, and Oracle.
During a company conference in August, Son notes the SoftBank Vision Fund is not just about making money. “We don’t just want to be an investor just for the money game,” he says through a translator. “We want to make the information revolution. To do the information revolution, you can’t do it by yourself; you need a lot of synergy.”
Off to the Races
The fund has wasted little time creating that synergy. In July, its first official investment, not surprisingly, went to a company that specializes in artificial intelligence for robots—Brain Corp. The San Diego-based startup uses AI to turn manual machines into self-driving robots that navigate their environments autonomously. The first commercial application appears to be a really smart commercial-grade version that crosses a Roomba and Zamboni.
A second investment in July was a bit more surprising. SoftBank and its fund partners led a $200 million mega-round for Plenty, an agricultural tech company that promises to reshape farming by going vertical. Using IoT sensors and machine learning, Plenty claims its urban vertical farms can produce 350 times more vegetables than a conventional farm using 1 percent of the water.
The spending spree continued into August.
The SoftBank Vision Fund led a $1.1 billion investment into a little-known biotechnology company called Roivant Sciences that goes dumpster diving for abandoned drugs and then creates subsidiaries around each therapy. For example, Axovant Sciences is devoted to neurology while Urovant focuses on urology. TechCrunch reports that Roivant is also creating a tech-focused subsidiary, called Datavant, that will use AI for drug discovery and other healthcare initiatives, such as designing clinical trials.
The AI angle may partly explain SoftBank’s interest in backing the biggest private placement in healthcare to date.
Also in August, SoftBank Vision Fund led a mix of $2.5 billion in primary and secondary capital investments into India’s largest private company in what was touted as the largest single investment in a private Indian company. Flipkart is an e-commerce company in the mold of Amazon.
The fund tacked on a $250 million investment round in August to Kabbage, an Atlanta-based startup in the alt-lending sector for small businesses. It ended big with a $4.4 billion investment into a co-working company called WeWork.
Betterment of Humanity
And those investments only include companies that SoftBank Vision Fund has backed directly.
SoftBank the company will offer—or has already turned over—previous investments to the Vision Fund in more than a half-dozen companies. Those assets include its shares in Nvidia, which produces chips for AI applications, and its first serious foray into autonomous driving with Nauto, a California startup that uses AI and high-tech cameras to retrofit vehicles to improve driving safety. The more miles the AI logs, the more it learns about safe and unsafe driving behaviors.
Other recent acquisitions, such as Boston Dynamics, a well-known US robotics company owned briefly by Google’s parent company Alphabet, will remain under the SoftBank Group umbrella for now.
This spending spree begs the question: What is the overall vision behind the SoftBank’s relentless pursuit of technology companies? A spokesperson for SoftBank told Singularity Hub that the “common thread among all of these companies is that they are creating the foundational platforms for the next stage of the information revolution.All of the companies, he adds, share SoftBank’s criteria of working toward “the betterment of humanity.”
While the SoftBank portfolio is diverse, from agtech to fintech to biotech, it’s obvious that SoftBank is betting on technologies that will connect the world in new and amazing ways. For instance, it wrote a $1 billion check last year in support of OneWeb, which aims to launch 900 satellites to bring internet to everyone on the planet. (It will also be turned over to the SoftBank Vision Fund.)
SoftBank also led a half-billion equity investment round earlier this year in a UK company called Improbable, which employs cloud-based distributed computing to create virtual worlds for gaming. The next step for the company is massive simulations of the real world that supports simultaneous users who can experience the same environment together(and another candidate for the SoftBank Vision Fund.)
Even something as seemingly low-tech as WeWork, which provides a desk or office in locations around the world, points toward a more connected planet.
In the end, the singularity is about bringing humanity together through technology. No one said it would be easy—or cheap.
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How many cyborgs did you see during your morning commute today? I would guess at least five. Did they make you nervous? Probably not; you likely didn’t even realize they were there.
In a presentation titled “Biohacking and the Connected Body” at Singularity University Global Summit, Hannes Sjoblad informed the audience that we’re already living in the age of cyborgs. Sjoblad is co-founder of the Sweden-based biohacker network Bionyfiken, a chartered non-profit that unites DIY-biologists, hackers, makers, body modification artists and health and performance devotees to explore human-machine integration.
Sjoblad said the cyborgs we see today don’t look like Hollywood prototypes; they’re regular people who have integrated technology into their bodies to improve or monitor some aspect of their health. Sjoblad defined biohacking as applying hacker ethic to biological systems. Some biohackers experiment with their biology with the goal of taking the human body’s experience beyond what nature intended.
Smart insulin monitoring systems, pacemakers, bionic eyes, and Cochlear implants are all examples of biohacking, according to Sjoblad. He told the audience, “We live in a time where, thanks to technology, we can make the deaf hear, the blind see, and the lame walk.” He is convinced that while biohacking could conceivably end up having Brave New World-like dystopian consequences, it can also be leveraged to improve and enhance our quality of life in multiple ways.
The field where biohacking can make the most positive impact is health. In addition to pacemakers and insulin monitors, several new technologies are being developed with the goal of improving our health and simplifying access to information about our bodies.
Ingestibles are a type of smart pill that use wireless technology to monitor internal reactions to medications, helping doctors determine optimum dosage levels and tailor treatments to different people. Your body doesn’t absorb or process medication exactly as your neighbor’s does, so shouldn’t you each have a treatment that works best with your unique system? Colonoscopies and endoscopies could one day be replaced by miniature pill-shaped video cameras that would collect and transmit images as they travel through the digestive tract.
Singularity University Global Summit is the culmination of the Exponential Conference Series and the definitive place to witness converging exponential technologies and understand how they’ll impact the world.
Security is another area where biohacking could be beneficial. One example Sjoblad gave was personalization of weapons: an invader in your house couldn’t fire your gun because it will have been matched to your fingerprint or synced with your body so that it only responds to you.
Biohacking can also simplify everyday tasks. In an impressive example of walking the walk rather than just talking the talk, Sjoblad had an NFC chip implanted in his hand. The chip contains data from everything he used to have to carry around in his pockets: credit and bank card information, key cards to enter his office building and gym, business cards, and frequent shopper loyalty cards. When he’s in line for a morning coffee or rushing to get to the office on time, he doesn’t have to root around in his pockets or bag to find the right card or key; he just waves his hand in front of a sensor and he’s good to go.
Evolved from radio frequency identification (RFID)—an old and widely distributed technology—NFC chips are activated by another chip, and small amounts of data can be transferred back and forth. No wireless connection is necessary. Sjoblad sees his NFC implant as a personal key to the Internet of Things, a simple way for him to talk to the smart, connected devices around him.
Sjoblad isn’t the only person who feels a need for connection.
When British science writer Frank Swain realized he was going to go deaf, he decided to hack his hearing to be able to hear Wi-Fi. Swain developed software that tunes into wireless communication fields and uses an inbuilt Wi-Fi sensor to pick up router name, encryption modes and distance from the device. This data is translated into an audio stream where distant signals click or pop, and strong signals sound their network ID in a looped melody. Swain hears it all through an upgraded hearing aid.
Global datastreams can also become sensory experiences. Spanish artist Moon Ribas developed and implanted a chip in her elbow that is connected to the global monitoring system for seismographic sensors; each time there’s an earthquake, she feels it through vibrations in her arm.
You can feel connected to our planet, too: North Sense makes a “standalone artificial sensory organ” that connects to your body and vibrates whenever you’re facing north. It’s a built-in compass; you’ll never get lost again.
Biohacking applications are likely to proliferate in the coming years, some of them more useful than others. But there are serious ethical questions that can’t be ignored during development and use of this technology. To what extent is it wise to tamper with nature, and who gets to decide?
Most of us are probably ok with waiting in line an extra 10 minutes or occasionally having to pull up a maps app on our phone if it means we don’t need to implant computer chips into our forearms. If it’s frightening to think of criminals stealing our wallets, imagine them cutting a chunk of our skin out to have instant access to and control over our personal data. The physical invasiveness and potential for something to go wrong seems to far outweigh the benefits the average person could derive from this technology.
But that may not always be the case. It’s worth noting the miniaturization of technology continues at a quick rate, and the smaller things get, the less invasive (and hopefully more useful) they’ll be. Even today, there are people already sensibly benefiting from biohacking. If you look closely enough, you’ll spot at least a couple cyborgs on your commute tomorrow morning.
Image Credit:Movement Control Laboratory/University of Washington – Deep Dream Generator Continue reading
The multiverse of science fiction is populated by robots that are indistinguishable from humans. They are usually smarter, faster, and stronger than us. They seem capable of doing any job imaginable, from piloting a starship and battling alien invaders to taking out the trash and cooking a gourmet meal.
The reality, of course, is far from fantasy. Aside from industrial settings, robots have yet to meet The Jetsons. The robots the public are exposed to seem little more than over-sized plastic toys, pre-programmed to perform a set of tasks without the ability to interact meaningfully with their environment or their creators.
To paraphrase PayPal co-founder and tech entrepreneur Peter Thiel, we wanted cool robots, instead we got 140 characters and Flippy the burger bot. But scientists are making progress to empower robots with the ability to see and respond to their surroundings just like humans.
Some of the latest developments in that arena were presented this month at the annual Robotics: Science and Systems Conference in Cambridge, Massachusetts. The papers drilled down into topics that ranged from how to make robots more conversational and help them understand language ambiguities to helping them see and navigate through complex spaces.
Ben Burchfiel, a graduate student at Duke University, and his thesis advisor George Konidaris, an assistant professor of computer science at Brown University, developed an algorithm to enable machines to see the world more like humans.
In the paper, Burchfiel and Konidaris demonstrate how they can teach robots to identify and possibly manipulate three-dimensional objects even when they might be obscured or sitting in unfamiliar positions, such as a teapot that has been tipped over.
The researchers trained their algorithm by feeding it 3D scans of about 4,000 common household items such as beds, chairs, tables, and even toilets. They then tested its ability to identify about 900 new 3D objects just from a bird’s eye view. The algorithm made the right guess 75 percent of the time versus a success rate of about 50 percent for other computer vision techniques.
In an email interview with Singularity Hub, Burchfiel notes his research is not the first to train machines on 3D object classification. How their approach differs is that they confine the space in which the robot learns to classify the objects.
“Imagine the space of all possible objects,” Burchfiel explains. “That is to say, imagine you had tiny Legos, and I told you [that] you could stick them together any way you wanted, just build me an object. You have a huge number of objects you could make!”
The infinite possibilities could result in an object no human or machine might recognize.
To address that problem, the researchers had their algorithm find a more restricted space that would host the objects it wants to classify. “By working in this restricted space—mathematically we call it a subspace—we greatly simplify our task of classification. It is the finding of this space that sets us apart from previous approaches.”
Meanwhile, a pair of undergraduate students at Brown University figured out a way to teach robots to understand directions better, even at varying degrees of abstraction.
The research, led by Dilip Arumugam and Siddharth Karamcheti, addressed how to train a robot to understand nuances of natural language and then follow instructions correctly and efficiently.
“The problem is that commands can have different levels of abstraction, and that can cause a robot to plan its actions inefficiently or fail to complete the task at all,” says Arumugam in a press release.
In this project, the young researchers crowdsourced instructions for moving a virtual robot through an online domain. The space consisted of several rooms and a chair, which the robot was told to manipulate from one place to another. The volunteers gave various commands to the robot, ranging from general (“take the chair to the blue room”) to step-by-step instructions.
The researchers then used the database of spoken instructions to teach their system to understand the kinds of words used in different levels of language. The machine learned to not only follow instructions but to recognize the level of abstraction. That was key to kickstart its problem-solving abilities to tackle the job in the most appropriate way.
The research eventually moved from virtual pixels to a real place, using a Roomba-like robot that was able to respond to instructions within one second 90 percent of the time. Conversely, when unable to identify the specificity of the task, it took the robot 20 or more seconds to plan a task about 50 percent of the time.
One application of this new machine-learning technique referenced in the paper is a robot worker in a warehouse setting, but there are many fields that could benefit from a more versatile machine capable of moving seamlessly between small-scale operations and generalized tasks.
“Other areas that could possibly benefit from such a system include things from autonomous vehicles… to assistive robotics, all the way to medical robotics,” says Karamcheti, responding to a question by email from Singularity Hub.
More to Come
These achievements are yet another step toward creating robots that see, listen, and act more like humans. But don’t expect Disney to build a real-life Westworld next to Toon Town anytime soon.
“I think we’re a long way off from human-level communication,” Karamcheti says. “There are so many problems preventing our learning models from getting to that point, from seemingly simple questions like how to deal with words never seen before, to harder, more complicated questions like how to resolve the ambiguities inherent in language, including idiomatic or metaphorical speech.”
Even relatively verbose chatbots can run out of things to say, Karamcheti notes, as the conversation becomes more complex.
The same goes for human vision, according to Burchfiel.
While deep learning techniques have dramatically improved pattern matching—Google can find just about any picture of a cat—there’s more to human eyesight than, well, meets the eye.
“There are two big areas where I think perception has a long way to go: inductive bias and formal reasoning,” Burchfiel says.
The former is essentially all of the contextual knowledge people use to help them reason, he explains. Burchfiel uses the example of a puddle in the street. People are conditioned or biased to assume it’s a puddle of water rather than a patch of glass, for instance.
“This sort of bias is why we see faces in clouds; we have strong inductive bias helping us identify faces,” he says. “While it sounds simple at first, it powers much of what we do. Humans have a very intuitive understanding of what they expect to see, [and] it makes perception much easier.”
Formal reasoning is equally important. A machine can use deep learning, in Burchfiel’s example, to figure out the direction any river flows once it understands that water runs downhill. But it’s not yet capable of applying the sort of human reasoning that would allow us to transfer that knowledge to an alien setting, such as figuring out how water moves through a plumbing system on Mars.
“Much work was done in decades past on this sort of formal reasoning… but we have yet to figure out how to merge it with standard machine-learning methods to create a seamless system that is useful in the actual physical world.”
Robots still have a lot to learn about being human, which should make us feel good that we’re still by far the most complex machines on the planet.
Image Credit: Alex Knight via Unsplash Continue reading
Videos: Five weird biomedical robots from IEEE International Conference on Robotics and Automation (ICRA) Continue reading
Discussion of artificial intelligence has skyrocketed since the end of the last decade, according to a new analysis looking at public perception of the technology. The paper by Stanford computer science PhD Ethan Fast and Eric Horvitz, a distinguished scientist and deputy managing director at Microsoft Research, looked at more than three million articles published in the New York Times between January 1986 and May 2016. The study is under review to become a conference… read more Continue reading