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Shanghai is a city full of life. With its population of 24 million, Shanghai embraces vibrant growth, fosters rising diversity, and attracts visionaries, innovators, and adventurers. Fintech, artificial intelligence, and e-commerce are booming. Now is a great time to explore this multicultural, inspirational city as it experiences quick growth and ever greater influence.
Meet Your Guide
Qingsong (Dora) Ke
Singularity University Chapter: Shanghai Chapter
Profession: Associate Director for Asia Pacific, IE Business School and IE University; Mentor, Techstars Startup Weekend; Mentor, Startupbootcamp; China President, Her Century
Your City Guide to Shanghai, China
Top three industries in the city: Automotive, Retail, and Finance
1. Coworking Space: Mixpace
With 10 convenient locations in the Shanghai downtown area, Mixpace offers affordable prices and various office and event spaces to both foreign and local entrepreneurs and startups.
2. Makerspace: XinCheJian
The first hackerspace and a non-profit in China, Xinchejian was founded to support projects in physical computing, open source hardware, and the Internet of Things. It hosts regular events and talks to facilitate development of hackerspaces in China.
3. Local meetups/ networks: FinTech Connector
FinTech Connector is a community connecting local fintech entrepreneurs and start-ups with global professionals, thought leaders, and investors for the purpose of disrupting financial services with cutting-edge technology.
4. Best coffee shop with free WiFi: Seesaw
Clean and modern décor, convenient locations, a quiet environment, and high-quality coffee make Seesaw one of the most popular coffee shops in Shanghai.
5. The startup neighborhood: Knowledge & Innovation Community (KIC)
Located near 10 prestigious universities and over 100 scientific research institutions, KIC attempts to integrate Silicon Valley’s innovative spirit with the artistic culture of the Left Bank in Paris.
6. Well-known investor or venture capitalist: Nanpeng (Neil) Shen
Global executive partner at Sequoia Capital, founding and managing partner at Sequoia China, and founder of Ctrip.com and Home Inn, Neil Shen was named Best Venture Capitalist by Forbes China in 2010–2013 and ranked as the best Chinese investor among Global Best Investors by Forbes in 2012–2016.
7. Best way to get around: Metro
Shanghai’s 17 well-connected metro lines covering every corner of the city at affordable prices are the best way to get around.
8. Local must-have dish and where to get it: Mini Soupy Bun (steamed dumplings, xiaolongbao) at Din Tai Fung in Shanghai.
Named one of the top ten restaurants in the world by the New York Times, Din Tai Fung makes the best xiaolongbao, a delicious soup with stuffed dumplings.
9. City’s best-kept secret: Barber Shop
This underground bar gets its name from the barber shop it’s hidden behind. Visitors must discover how to unlock the door leading to Barber Shop’s sophisticated cocktails and engaging music. (No website for this underground location, but the address is 615 Yongjia Road).
10. Touristy must-do: Enjoy the nightlife and the skyline at the Bund
On the east side of the Bund are the most modern skyscrapers, including Shanghai Tower, Shanghai World Financial Centre, and Jin Mao Tower. The west side of the Bund features 26 buildings of diverse architectural styles, including Gothic, Baroque, Romanesque, and others; this area is known for its exotic buildings.
11. Local volunteering opportunity: Shanghai Volunteer
Shanghai Volunteer is a platform to connect volunteers with possible opportunities in various fields, including education, elderly care, city culture, and environment.
12. Local University with great resources: Shanghai Jiao Tong University
Established in 1896, Shanghai Jiao Tong University is the second-oldest university in China and one of the country’s most prestigious. It boasts notable alumni in government and politics, science, engineering, business, and sports, and it regularly collaborates with government and the private sector.
This article is for informational purposes only. All opinions in this post are the author’s alone and not those of Singularity University. Neither this article nor any of the listed information therein is an official endorsement by Singularity University.
Image Credits: Qinsong (Dora) Ke
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It’s been a long time coming. For years Waymo (formerly known as Google Chauffeur) has been diligently developing, driving, testing and refining its fleets of various models of self-driving cars. Now Waymo is going big. The company recently placed an order for several thousand new Chrysler Pacifica minivans and next year plans to launch driverless taxis in a number of US cities.
This deal raises one of the biggest unanswered questions about autonomous vehicles: if fleets of driverless taxis make it cheap and easy for regular people to get around, what’s going to happen to car ownership?
One popular line of thought goes as follows: as autonomous ride-hailing services become ubiquitous, people will no longer need to buy their own cars. This notion has a certain logical appeal. It makes sense to assume that as driverless taxis become widely available, most of us will eagerly sell the family car and use on-demand taxis to get to work, run errands, or pick up the kids. After all, vehicle ownership is pricey and most cars spend the vast majority of their lives parked.
Even experts believe commercial availability of autonomous vehicles will cause car sales to drop.
Market research firm KPMG estimates that by 2030, midsize car sales in the US will decline from today’s 5.4 million units sold each year to nearly half that number, a measly 2.1 million units. Another market research firm, ReThinkX, offers an even more pessimistic estimate (or optimistic, depending on your opinion of cars), predicting that autonomous vehicles will reduce consumer demand for new vehicles by a whopping 70 percent.
The reality is that the impending death of private vehicle sales is greatly exaggerated. Despite the fact that autonomous taxis will be a beneficial and widely-embraced form of urban transportation, we will witness the opposite. Most people will still prefer to own their own autonomous vehicle. In fact, the total number of units of autonomous vehicles sold each year is going to increase rather than decrease.
When people predict the demise of car ownership, they are overlooking the reality that the new autonomous automotive industry is not going to be just a re-hash of today’s car industry with driverless vehicles. Instead, the automotive industry of the future will be selling what could be considered an entirely new product: a wide variety of intelligent, self-guiding transportation robots. When cars become a widely used type of transportation robot, they will be cheap, ubiquitous, and versatile.
Several unique characteristics of autonomous vehicles will ensure that people will continue to buy their own cars.
1. Cost: Thanks to simpler electric engines and lighter auto bodies, autonomous vehicles will be cheaper to buy and maintain than today’s human-driven vehicles. Some estimates bring the price to $10K per vehicle, a stark contrast with today’s average of $30K per vehicle.
2. Personal belongings: Consumers will be able to do much more in their driverless vehicles, including work, play, and rest. This means they will want to keep more personal items in their cars.
3. Frequent upgrades: The average (human-driven) car today is owned for 10 years. As driverless cars become software-driven devices, their price/performance ratio will track to Moore’s law. Their rapid improvement will increase the appeal and frequency of new vehicle purchases.
4. Instant accessibility: In a dense urban setting, a driverless taxi is able to show up within minutes of being summoned. But not so in rural areas, where people live miles apart. For many, delay and “loss of control” over their own mobility will increase the appeal of owning their own vehicle.
5. Diversity of form and function: Autonomous vehicles will be available in a wide variety of sizes and shapes. Consumers will drive demand for custom-made, purpose-built autonomous vehicles whose form is adapted for a particular function.
Let’s explore each of these characteristics in more detail.
Autonomous vehicles will cost less for several reasons. For one, they will be powered by electric engines, which are cheaper to construct and maintain than gasoline-powered engines. Removing human drivers will also save consumers money. Autonomous vehicles will be much less likely to have accidents, hence they can be built out of lightweight, lower-cost materials and will be cheaper to insure. With the human interface no longer needed, autonomous vehicles won’t be burdened by the manufacturing costs of a complex dashboard, steering wheel, and foot pedals.
While hop-on, hop-off autonomous taxi-based mobility services may be ideal for some of the urban population, several sizeable customer segments will still want to own their own cars.
These include people who live in sparsely-populated rural areas who can’t afford to wait extended periods of time for a taxi to appear. Families with children will prefer to own their own driverless cars to house their childrens’ car seats and favorite toys and sippy cups. Another loyal car-buying segment will be die-hard gadget-hounds who will eagerly buy a sexy upgraded model every year or so, unable to resist the siren song of AI that is three times as safe, or a ride that is twice as smooth.
Finally, consider the allure of robotic diversity.
Commuters will invest in a home office on wheels, a sleek, traveling workspace resembling the first-class suite on an airplane. On the high end of the market, city-dwellers and country-dwellers alike will special-order custom-made autonomous vehicles whose shape and on-board gadgetry is adapted for a particular function or hobby. Privately-owned small businesses will buy their own autonomous delivery robot that could range in size from a knee-high, last-mile delivery pod, to a giant, long-haul shipping device.
As autonomous vehicles near commercial viability, Waymo’s procurement deal with Fiat Chrysler is just the beginning.
The exact value of this future automotive industry has yet to be defined, but research from Intel’s internal autonomous vehicle division estimates this new so-called “passenger economy” could be worth nearly $7 trillion a year. To position themselves to capture a chunk of this potential revenue, companies whose businesses used to lie in previously disparate fields such as robotics, software, ships, and entertainment (to name but a few) have begun to form a bewildering web of what they hope will be symbiotic partnerships. Car hailing and chip companies are collaborating with car rental companies, who in turn are befriending giant software firms, who are launching joint projects with all sizes of hardware companies, and so on.
Last year, car companies sold an estimated 80 million new cars worldwide. Over the course of nearly a century, car companies and their partners, global chains of suppliers and service providers, have become masters at mass-producing and maintaining sturdy and cost-effective human-driven vehicles. As autonomous vehicle technology becomes ready for mainstream use, traditional automotive companies are being forced to grapple with the painful realization that they must compete in a new playing field.
The challenge for traditional car-makers won’t be that people no longer want to own cars. Instead, the challenge will be learning to compete in a new and larger transportation industry where consumers will choose their product according to the appeal of its customized body and the quality of its intelligent software.
Melba Kurman and Hod Lipson are the authors of Driverless: Intelligent Cars and the Road Ahead and Fabricated: the New World of 3D Printing.
Image Credit: hfzimages / Shutterstock.com
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In an interview at Singularity University’s Exponential Medicine in San Diego, Richard Wender, chief cancer control officer at the American Cancer Society, discussed how technology has changed cancer care and treatment in recent years.
Just a few years ago, microscopes were the primary tool used in cancer diagnoses, but we’ve come a long way since.
“We still look at a microscope, we still look at what organ the cancer started in,” Wender said. “But increasingly we’re looking at the molecular signature. It’s not just the genomics, and it’s not just the genes. It’s also the cellular environment around that cancer. We’re now targeting our therapies to the mutations that are found in that particular cancer.”
Cancer treatments in the past have been largely reactionary, but they don’t need to be. Most cancer is genetic, which means that treatment can be preventative. This is one reason why newer cancer treatment techniques are searching for actionable targets in the specific gene before the cancer develops.
When asked how artificial intelligence and machine learning technologies are reshaping clinical trials, Wender acknowledged that how clinical trials have been run in the past won’t work moving forward.
“Our traditional ways of learning about cancer were by finding a particular cancer type and conducting a long clinical trial that took a number of years enrolling patients from around the country. That is not how we’re going to learn to treat individual patients in the future.”
Instead, Wender emphasized the need for gathering as much data as possible, and from as many individual patients as possible. This data should encompass clinical, pathological, and molecular data and should be gathered from a patient all the way through their final outcome. “Literally every person becomes a clinical trial of one,” Wender said.
For the best cancer treatment and diagnostics, Wender says the answer is to make the process collaborative by pulling in resources from organizations and companies that are both established and emerging.
It’s no surprise to hear that the best solutions come from pairing together uncommon partners to innovate.
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