Tag Archives: features

#433772 Explore the World’s Coolest Robots, ...

New IEEE site features 200 robots from 19 countries with hundreds of photos, videos, and interactives to get people excited about robotics and STEM Continue reading

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#433770 Will Tech Make Insurance Obsolete in the ...

We profit from it, we fear it, and we find it impossibly hard to quantify: risk.

While not the sexiest of industries, insurance can be a life-saving protector, pooling everyone’s premiums to safeguard against some of our greatest, most unexpected losses.

One of the most profitable in the world, the insurance industry exceeded $1.2 trillion in annual revenue since 2011 in the US alone.

But risk is becoming predictable. And insurance is getting disrupted fast.

By 2025, we’ll be living in a trillion-sensor economy. And as we enter a world where everything is measured all the time, we’ll start to transition from protecting against damages to preventing them in the first place.

But what happens to health insurance when Big Brother is always watching? Do rates go up when you sneak a cigarette? Do they go down when you eat your vegetables?

And what happens to auto insurance when most cars are autonomous? Or life insurance when the human lifespan doubles?

For that matter, what happens to insurance brokers when blockchain makes them irrelevant?

In this article, I’ll be discussing four key transformations:

Sensors and AI replacing your traditional broker
Blockchain
The ecosystem approach
IoT and insurance connectivity

Let’s dive in.

AI and the Trillion-Sensor Economy
As sensors continue to proliferate across every context—from smart infrastructure to millions of connected home devices to medicine—smart environments will allow us to ask any question, anytime, anywhere.

And as I often explain, once your AI has access to this treasure trove of ubiquitous sensor data in real time, it will be the quality of your questions that make or break your business.

But perhaps the most exciting insurance application of AI’s convergence with sensors is in healthcare. Tremendous advances in genetic screening are empowering us with predictive knowledge about our long-term health risks.

Leading the charge in genome sequencing, Illumina predicts that in a matter of years, decoding the full human genome will drop to $100, taking merely one hour to complete. Other companies are racing to get you sequences faster and cheaper.

Adopting an ecosystem approach, incumbent insurers and insurtech firms will soon be able to collaborate to provide risk-minimizing services in the health sector. Using sensor data and AI-driven personalized recommendations, insurance partnerships could keep consumers healthy, dramatically reducing the cost of healthcare.

Some fear that information asymmetry will allow consumers to learn of their health risks and leave insurers in the dark. However, both parties could benefit if insurers become part of the screening process.

A remarkable example of this is Gilad Meiri’s company, Neura AI. Aiming to predict health patterns, Neura has developed machine learning algorithms that analyze data from all of a user’s connected devices (sometimes from up to 54 apps!).

Neura predicts a user’s behavior and draws staggering insights about consumers’ health risks. Meiri soon began selling his personal risk assessment tool to insurers, who could then help insured customers mitigate long-term health risks.

But artificial intelligence will impact far more than just health insurance.

In October of 2016, a claim was submitted to Lemonade, the world’s first peer-to-peer insurance company. Rather than being processed by a human, every step in this claim resolution chain—from initial triage through fraud mitigation through final payment—was handled by an AI.

This transaction marks the first time an AI has processed an insurance claim. And it won’t be the last. A traditional human-processed claim takes 40 days to pay out. In Lemonade’s case, payment was transferred within three seconds.

However, Lemonade’s achievement only marks a starting point. Over the course of the next decade, nearly every facet of the insurance industry will undergo a similarly massive transformation.

New business models like peer-to-peer insurance are replacing traditional brokerage relationships, while AI and blockchain pairings significantly reduce the layers of bureaucracy required (with each layer getting a cut) for traditional insurance.

Consider Juniper, a startup that scrapes social media to build your risk assessment, subsequently asking you 12 questions via an iPhone app. Geared with advanced analytics, the platform can generate a million-dollar life insurance policy, approved in less than five minutes.

But what’s keeping all your data from unwanted hands?

Blockchain Building Trust
Current distrust in centralized financial services has led to staggering rates of underinsurance. Add to this fear of poor data and privacy protection, particularly in the wake of 2017’s widespread cybercriminal hacks.

Enabling secure storage and transfer of personal data, blockchain holds remarkable promise against the fraudulent activity that often plagues insurance firms.

The centralized model of insurance companies and other organizations is becoming redundant. Developing blockchain-based solutions for capital markets, Symbiont develops smart contracts to execute payments with little to no human involvement.

But distributed ledger technology (DLT) is enabling far more than just smart contracts.

Also targeting insurance is Tradle, leveraging blockchain for its proclaimed goal of “building a trust provisioning network.” Built around “know-your-customer” (KYC) data, Tradle aims to verify KYC data so that it can be securely forwarded to other firms without any further verification.

By requiring a certain number of parties to reuse pre-verified data, the platform makes your data much less vulnerable to hacking and allows you to keep it on a personal device. Only its verification—let’s say of a transaction or medical exam—is registered in the blockchain.

As insurance data grow increasingly decentralized, key insurance players will experience more and more pressure to adopt an ecosystem approach.

The Ecosystem Approach
Just as exponential technologies converge to provide new services, exponential businesses must combine the strengths of different sectors to expand traditional product lines.

By partnering with platform-based insurtech firms, forward-thinking insurers will no longer serve only as reactive policy-providers, but provide risk-mitigating services as well.

Especially as digital technologies demonetize security services—think autonomous vehicles—insurers must create new value chains and span more product categories.

For instance, France’s multinational AXA recently partnered with Alibaba and Ant Financial Services to sell a varied range of insurance products on Alibaba’s global e-commerce platform at the click of a button.

Building another ecosystem, Alibaba has also collaborated with Ping An Insurance and Tencent to create ZhongAn Online Property and Casualty Insurance—China’s first internet-only insurer, offering over 300 products. Now with a multibillion-dollar valuation, Zhong An has generated about half its business from selling shipping return insurance to Alibaba consumers.

But it doesn’t stop there. Insurers that participate in digital ecosystems can now sell risk-mitigating services that prevent damage before it occurs.

Imagine a corporate manufacturer whose sensors collect data on environmental factors affecting crop yield in an agricultural community. With the backing of investors and advanced risk analytics, such a manufacturer could sell crop insurance to farmers. By implementing an automated, AI-driven UI, they could automatically make payments when sensors detect weather damage to crops.

Now let’s apply this concept to your house, your car, your health insurance.

What’s stopping insurers from partnering with third-party IoT platforms to predict fires, collisions, chronic heart disease—and then empowering the consumer with preventive services?

This brings us to the powerful field of IoT.

Internet of Things and Insurance Connectivity
Leap ahead a few years. With a centralized hub like Echo, your smart home protects itself with a network of sensors. While gone, you’ve left on a gas burner and your internet-connected stove notifies you via a home app.

Better yet, home sensors monitoring heat and humidity levels run this data through an AI, which then remotely controls heating, humidity levels, and other connected devices based on historical data patterns and fire risk factors.

Several firms are already working toward this reality.

AXA plans to one day cooperate with a centralized home hub whereby remote monitoring will collect data for future analysis and detect abnormalities.

With remote monitoring and app-centralized control for users, MonAXA is aimed at customizing insurance bundles. These would reflect exact security features embedded in smart homes.

Wouldn’t you prefer not to have to rely on insurance after a burglary? With digital ecosystems, insurers may soon prevent break-ins from the start.

By gathering sensor data from third parties on neighborhood conditions, historical theft data, suspicious activity and other risk factors, an insurtech firm might automatically put your smart home on high alert, activating alarms and specialized locks in advance of an attack.

Insurance policy premiums are predicted to vastly reduce with lessened likelihood of insured losses. But insurers moving into preventive insurtech will likely turn a profit from other areas of their business. PricewaterhouseCoopers predicts that the connected home market will reach $149 billion USD by 2020.

Let’s look at car insurance.

Car insurance premiums are currently calculated according to the driver and traits of the car. But as more autonomous vehicles take to the roads, not only does liability shift to manufacturers and software engineers, but the risk of collision falls dramatically.

But let’s take this a step further.

In a future of autonomous cars, you will no longer own your car, instead subscribing to Transport as a Service (TaaS) and giving up the purchase of automotive insurance altogether.

This paradigm shift has already begun with Waymo, which automatically provides passengers with insurance every time they step into a Waymo vehicle.

And with the rise of smart traffic systems, sensor-embedded roads, and skyrocketing autonomous vehicle technology, the risks involved in transit only continue to plummet.

Final Thoughts
Insurtech firms are hitting the market fast. IoT, autonomous vehicles and genetic screening are rapidly making us invulnerable to risk. And AI-driven services are quickly pushing conventional insurers out of the market.

By 2024, roll-out of 5G on the ground, as well as OneWeb and Starlink in orbit are bringing 4.2 billion new consumers to the web—most of whom will need insurance. Yet, because of the changes afoot in the industry, none of them will buy policies from a human broker.

While today’s largest insurance companies continue to ignore this fact at their peril (and this segment of the market), thousands of entrepreneurs see it more clearly: as one of the largest opportunities ahead.

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#433717 Could an artificial intelligence be ...

Humans aren't the only people in society – at least according to the law. In the U.S., corporations have been given rights of free speech and religion. Some natural features also have person-like rights. But both of those required changes to the legal system. A new argument has laid a path for artificial intelligence systems to be recognized as people too – without any legislation, court rulings or other revisions to existing law. Continue reading

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#433506 MIT’s New Robot Taught Itself to Pick ...

Back in 2016, somewhere in a Google-owned warehouse, more than a dozen robotic arms sat for hours quietly grasping objects of various shapes and sizes. For hours on end, they taught themselves how to pick up and hold the items appropriately—mimicking the way a baby gradually learns to use its hands.

Now, scientists from MIT have made a new breakthrough in machine learning: their new system can not only teach itself to see and identify objects, but also understand how best to manipulate them.

This means that, armed with the new machine learning routine referred to as “dense object nets (DON),” the robot would be capable of picking up an object that it’s never seen before, or in an unfamiliar orientation, without resorting to trial and error—exactly as a human would.

The deceptively simple ability to dexterously manipulate objects with our hands is a huge part of why humans are the dominant species on the planet. We take it for granted. Hardware innovations like the Shadow Dexterous Hand have enabled robots to softly grip and manipulate delicate objects for many years, but the software required to control these precision-engineered machines in a range of circumstances has proved harder to develop.

This was not for want of trying. The Amazon Robotics Challenge offers millions of dollars in prizes (and potentially far more in contracts, as their $775m acquisition of Kiva Systems shows) for the best dexterous robot able to pick and package items in their warehouses. The lucrative dream of a fully-automated delivery system is missing this crucial ability.

Meanwhile, the Robocup@home challenge—an offshoot of the popular Robocup tournament for soccer-playing robots—aims to make everyone’s dream of having a robot butler a reality. The competition involves teams drilling their robots through simple household tasks that require social interaction or object manipulation, like helping to carry the shopping, sorting items onto a shelf, or guiding tourists around a museum.

Yet all of these endeavors have proved difficult; the tasks often have to be simplified to enable the robot to complete them at all. New or unexpected elements, such as those encountered in real life, more often than not throw the system entirely. Programming the robot’s every move in explicit detail is not a scalable solution: this can work in the highly-controlled world of the assembly line, but not in everyday life.

Computer vision is improving all the time. Neural networks, including those you train every time you prove that you’re not a robot with CAPTCHA, are getting better at sorting objects into categories, and identifying them based on sparse or incomplete data, such as when they are occluded, or in different lighting.

But many of these systems require enormous amounts of input data, which is impractical, slow to generate, and often needs to be laboriously categorized by humans. There are entirely new jobs that require people to label, categorize, and sift large bodies of data ready for supervised machine learning. This can make machine learning undemocratic. If you’re Google, you can make thousands of unwitting volunteers label your images for you with CAPTCHA. If you’re IBM, you can hire people to manually label that data. If you’re an individual or startup trying something new, however, you will struggle to access the vast troves of labeled data available to the bigger players.

This is why new systems that can potentially train themselves over time or that allow robots to deal with situations they’ve never seen before without mountains of labelled data are a holy grail in artificial intelligence. The work done by MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL) is part of a new wave of “self-supervised” machine learning systems—little of the data used was labeled by humans.

The robot first inspects the new object from multiple angles, building up a 3D picture of the object with its own coordinate system. This then allows the robotic arm to identify a particular feature on the object—such as a handle, or the tongue of a shoe—from various different angles, based on its relative distance to other grid points.

This is the real innovation: the new means of representing objects to grasp as mapped-out 3D objects, with grid points and subsections of their own. Rather than using a computer vision algorithm to identify a door handle, and then activating a door handle grasping subroutine, the DON system treats all objects by making these spatial maps before classifying or manipulating them, enabling it to deal with a greater range of objects than in other approaches.

“Many approaches to manipulation can’t identify specific parts of an object across the many orientations that object may encounter,” said PhD student Lucas Manuelli, who wrote a new paper about the system with lead author and fellow student Pete Florence, alongside MIT professor Russ Tedrake. “For example, existing algorithms would be unable to grasp a mug by its handle, especially if the mug could be in multiple orientations, like upright, or on its side.”

Class-specific descriptors, which can be applied to the object features, can allow the robot arm to identify a mug, find the handle, and pick the mug up appropriately. Object-specific descriptors allow the robot arm to select a particular mug from a group of similar items. I’m already dreaming of a robot butler reliably picking my favourite mug when it serves me coffee in the morning.

Google’s robot arm-y was an attempt to develop a general grasping algorithm: one that could identify, categorize, and appropriately grip as many items as possible. This requires a great deal of training time and data, which is why Google parallelized their project by having 14 robot arms feed data into a single neural network brain: even then, the algorithm may fail with highly specific tasks. Specialist grasping algorithms might require less training if they’re limited to specific objects, but then your software is useless for general tasks.

As the roboticists noted, their system, with its ability to identify parts of an object rather than just a single object, is better suited to specific tasks, such as “grasp the racquet by the handle,” than Amazon Robotics Challenge robots, which identify whole objects by segmenting an image.

This work is small-scale at present. It has been tested with a few classes of objects, including shoes, hats, and mugs. Yet the use of these dense object nets as a way for robots to represent and manipulate new objects may well be another step towards the ultimate goal of generalized automation: a robot capable of performing every task a person can. If that point is reached, the question that will remain is how to cope with being obsolete.

Image Credit: Tom Buehler/CSAIL Continue reading

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#433486 This AI Predicts Obesity ...

A research team at the University of Washington has trained an artificial intelligence system to spot obesity—all the way from space. The system used a convolutional neural network (CNN) to analyze 150,000 satellite images and look for correlations between the physical makeup of a neighborhood and the prevalence of obesity.

The team’s results, presented in JAMA Network Open, showed that features of a given neighborhood could explain close to two-thirds (64.8 percent) of the variance in obesity. Researchers found that analyzing satellite data could help increase understanding of the link between peoples’ environment and obesity prevalence. The next step would be to make corresponding structural changes in the way neighborhoods are built to encourage physical activity and better health.

Training AI to Spot Obesity
Convolutional neural networks (CNNs) are particularly adept at image analysis, object recognition, and identifying special hierarchies in large datasets.

Prior to analyzing 150,000 high-resolution satellite images of Bellevue, Seattle, Tacoma, Los Angeles, Memphis, and San Antonio, the researchers trained the CNN on 1.2 million images from the ImageNet database. The categorizations were correlated with obesity prevalence estimates for the six urban areas from census tracts gathered by the 500 Cities project.

The system was able to identify the presence of certain features that increased likelihood of obesity in a given area. Some of these features included tightly–packed houses, being close to roadways, and living in neighborhoods with a lack of greenery.

Visualization of features identified by the convolutional neural network (CNN) model. The images on the left column are satellite images taken from Google Static Maps API (application programming interface). Images in the middle and right columns are activation maps taken from the second convolutional layer of VGG-CNN-F network after forward pass of the respective satellite images through the network. From Google Static Maps API, DigitalGlobe, US Geological Survey (accessed July 2017). Credit: JAMA Network Open
Your Surroundings Are Key
In their discussion of the findings, the researchers stressed that there are limitations to the conclusions that can be drawn from the AI’s results. For example, socio-economic factors like income likely play a major role for obesity prevalence in a given geographic area.

However, the study concluded that the AI-powered analysis showed the prevalence of specific man-made features in neighborhoods consistently correlating with obesity prevalence and not necessarily correlating with socioeconomic status.

The system’s success rates varied between studied cities, with Memphis being the highest (73.3 percent) and Seattle being the lowest (55.8 percent).

AI Takes To the Sky
Around a third of the US population is categorized as obese. Obesity is linked to a number of health-related issues, and the AI-generated results could potentially help improve city planning and better target campaigns to limit obesity.

The study is one of the latest of a growing list that uses AI to analyze images and extrapolate insights.

A team at Stanford University has used a CNN to predict poverty via satellite imagery, assisting governments and NGOs to better target their efforts. A combination of the public Automatic Identification System for shipping, satellite imagery, and Google’s AI has proven able to identify illegal fishing activity. Researchers have even been able to use AI and Google Street View to predict what party a given city will vote for, based on what cars are parked on the streets.

In each case, the AI systems have been able to look at volumes of data about our world and surroundings that are beyond the capabilities of humans and extrapolate new insights. If one were to moralize about the good and bad sides of AI (new opportunities vs. potential job losses, for example) it could seem that it comes down to what we ask AI systems to look at—and what questions we ask of them.

Image Credit: Ocean Biology Processing Group at NASA’s Goddard Space Flight Center Continue reading

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