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#433928 The Surprising Parallels Between ...

The human mind can be a confusing and overwhelming place. Despite incredible leaps in human progress, many of us still struggle to make our peace with our thoughts. The roots of this are complex and multifaceted. To find explanations for the global mental health epidemic, one can tap into neuroscience, psychology, evolutionary biology, or simply observe the meaningless systems that dominate our modern-day world.

This is not only the context of our reality but also that of the critically-acclaimed Netflix series, Maniac. Psychological dark comedy meets science fiction, Maniac is a retro, futuristic, and hallucinatory trip that is filled with hidden symbols. Directed by Cary Joji Fukunaga, the series tells the story of two strangers who decide to participate in the final stage of a “groundbreaking” pharmaceutical trial—one that combines novel pharmaceuticals with artificial intelligence, and promises to make their emotional pain go away.

Naturally, things don’t go according to plan.

From exams used for testing defense mechanisms to techniques such as cognitive behavioral therapy, the narrative infuses genuine psychological science. As perplexing as the series may be to some viewers, many of the tools depicted actually have a strong grounding in current technological advancements.

Catalysts for Alleviating Suffering
In the therapy of Maniac, participants undergo a three-day trial wherein they ingest three pills and appear to connect their consciousness to a superintelligent AI. Each participant is hurled into the traumatic experiences imprinted in their subconscious and forced to cope with them in a series of hallucinatory and dream-like experiences.

Perhaps the most recognizable parallel that can be drawn is with the latest advancements in psychedelic therapy. Psychedelics are a class of drugs that alter the experience of consciousness, and often cause radical changes in perception and cognitive processes.

Through a process known as transient hypofrontality, the executive “over-thinking” parts of our brains get a rest, and deeper areas become more active. This experience, combined with the breakdown of the ego, is often correlated with feelings of timelessness, peacefulness, presence, unity, and above all, transcendence.

Despite being not addictive and extremely difficult to overdose on, regulators looked down on the use of psychedelics for decades and many continue to dismiss them as “party drugs.” But in the last few years, all of this began to change.

Earlier this summer, the FDA granted breakthrough therapy designation to MDMA for the treatment of PTSD, after several phases of successful trails. Similar research has discovered that Psilocybin (also known as magic mushrooms) combined with therapy is far more effective than traditional forms of treatment to treat depression and anxiety. Today, there is a growing and overwhelming body of research that proves that not only are psychedelics such as LSD, MDMA, or Psylicybin effective catalysts to alleviate suffering and enhance the human condition, but they are potentially the most effective tools out there.

It’s important to realize that these substances are not solutions on their own, but rather catalysts for more effective therapy. They can be groundbreaking, but only in the right context and setting.

Brain-Machine Interfaces
In Maniac, the medication-assisted therapy is guided by what appears to be a super-intelligent form of artificial intelligence called the GRTA, nicknamed Gertie. Gertie, who is a “guide” in machine form, accesses the minds of the participants through what appears to be a futuristic brain-scanning technology and curates customized hallucinatory experiences with the goal of accelerating the healing process.

Such a powerful form of brain-scanning technology is not unheard of. Current levels of scanning technology are already allowing us to decipher dreams and connect three human brains, and are only growing exponentially. Though they are nowhere as advanced as Gertie (we have a long way to go before we get to this kind of general AI), we are also seeing early signs of AI therapy bots, chatbots that listen, think, and communicate with users like a therapist would.

The parallels between current advancements in mental health therapy and the methods in Maniac can be startling, and are a testament to how science fiction and the arts can be used to explore the existential implications of technology.

Not Necessarily a Dystopia
While there are many ingenious similarities between the technology in Maniac and the state of mental health therapy, it’s important to recognize the stark differences. Like many other blockbuster science fiction productions, Maniac tells a fundamentally dystopian tale.

The series tells the story of the 73rd iteration of a controversial drug trial, one that has experienced many failures and even led to various participants being braindead. The scientists appear to be evil, secretive, and driven by their own superficial agendas and deep unresolved emotional issues.

In contrast, clinicians and researchers are not only required to file an “investigational new drug application” with the FDA (and get approval) but also update the agency with safety and progress reports throughout the trial.

Furthermore, many of today’s researchers are driven by a strong desire to contribute to the well-being and progress of our species. Even more, the results of decades of research by organizations like MAPS have been exceptionally promising and aligned with positive values. While Maniac is entertaining and thought-provoking, viewers must not forget the positive potential of such advancements in mental health therapy.

Science, technology, and psychology aside, Maniac is a deep commentary on the human condition and the often disorienting states that pain us all. Within any human lifetime, suffering is inevitable. It is the disproportionate, debilitating, and unjust levels of suffering that we ought to tackle as a society. Ultimately, Maniac explores whether advancements in science and technology can help us live not a life devoid of suffering, but one where it is balanced with fulfillment.

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#433907 How the Spatial Web Will Fix What’s ...

Converging exponential technologies will transform media, advertising and the retail world. The world we see, through our digitally-enhanced eyes, will multiply and explode with intelligence, personalization, and brilliance.

This is the age of Web 3.0.

Last week, I discussed the what and how of Web 3.0 (also known as the Spatial Web), walking through its architecture and the converging technologies that enable it.

To recap, while Web 1.0 consisted of static documents and read-only data, Web 2.0 introduced multimedia content, interactive web applications, and participatory social media, all of these mediated by two-dimensional screens—a flat web of sensorily confined information.

During the next two to five years, the convergence of 5G, AI, a trillion sensors, and VR/AR will enable us to both map our physical world into virtual space and superimpose a digital layer onto our physical environments.

Web 3.0 is about to transform everything—from the way we learn and educate, to the way we trade (smart) assets, to our interactions with real and virtual versions of each other.

And while users grow rightly concerned about data privacy and misuse, the Spatial Web’s use of blockchain in its data and governance layer will secure and validate our online identities, protecting everything from your virtual assets to personal files.

In this second installment of the Web 3.0 series, I’ll be discussing the Spatial Web’s vast implications for a handful of industries:

News & Media Coverage
Smart Advertising
Personalized Retail

Let’s dive in.

Transforming Network News with Web 3.0
News media is big business. In 2016, global news media (including print) generated 168 billion USD in circulation and advertising revenue.

The news we listen to impacts our mindset. Listen to dystopian news on violence, disaster, and evil, and you’ll more likely be searching for a cave to hide in, rather than technology for the launch of your next business.

Today, different news media present starkly different realities of everything from foreign conflict to domestic policy. And outcomes are consequential. What reporters and news corporations decide to show or omit of a given news story plays a tremendous role in shaping the beliefs and resulting values of entire populations and constituencies.

But what if we could have an objective benchmark for today’s news, whereby crowdsourced and sensor-collected evidence allows you to tour the site of journalistic coverage, determining for yourself the most salient aspects of a story?

Enter mesh networks, AI, public ledgers, and virtual reality.

While traditional networks rely on a limited set of wired access points (or wireless hotspots), a wireless mesh network can connect entire cities via hundreds of dispersed nodes that communicate with each other and share a network connection non-hierarchically.

In short, this means that individual mobile users can together establish a local mesh network using nothing but the computing power in their own devices.

Take this a step further, and a local population of strangers could collectively broadcast countless 360-degree feeds across a local mesh network.

Imagine a scenario in which protests break out across the country, each cluster of activists broadcasting an aggregate of 360-degree videos, all fed through photogrammetry AIs that build out a live hologram of the march in real time. Want to see and hear what the NYC-based crowds are advocating for? Throw on some VR goggles and explore the event with full access. Or cue into the southern Texan border to assess for yourself the handling of immigrant entry and border conflicts.

Take a front seat in the Capitol during tomorrow’s Senate hearing, assessing each Senator’s reactions, questions and arguments without a Fox News or CNN filter. Or if you’re short on time, switch on the holographic press conference and host 3D avatars of live-broadcasting politicians in your living room.

We often think of modern media as taking away consumer agency, feeding tailored and often partisan ideology to a complacent audience. But as wireless mesh networks and agnostic sensor data allow for immersive VR-accessible news sites, the average viewer will necessarily become an active participant in her own education of current events.

And with each of us interpreting the news according to our own values, I envision a much less polarized world. A world in which civic engagement, moderately reasoned dialogue, and shared assumptions will allow us to empathize and make compromises.

The future promises an era in which news is verified and balanced; wherein public ledgers, AI, and new web interfaces bring you into the action and respect your intelligence—not manipulate your ignorance.

Web 3.0 Reinventing Advertising
Bringing about the rise of ‘user-owned data’ and self-established permissions, Web 3.0 is poised to completely disrupt digital advertising—a global industry worth over 192 billion USD.

Currently, targeted advertising leverages tomes of personal data and online consumer behavior to subtly engage you with products you might not want, or sell you on falsely advertised services promising inaccurate results.

With a new Web 3.0 data and governance layer, however, distributed ledger technologies will require advertisers to engage in more direct interaction with consumers, validating claims and upping transparency.

And with a data layer that allows users to own and authorize third-party use of their data, blockchain also holds extraordinary promise to slash not only data breaches and identity theft, but covert advertiser bombardment without your authorization.

Accessing crowdsourced reviews and AI-driven fact-checking, users will be able to validate advertising claims more efficiently and accurately than ever before, potentially rating and filtering out advertisers in the process. And in such a streamlined system of verified claims, sellers will face increased pressure to compete more on product and rely less on marketing.

But perhaps most exciting is the convergence of artificial intelligence and augmented reality.

As Spatial Web networks begin to associate digital information with physical objects and locations, products will begin to “sell themselves.” Each with built-in smart properties, products will become hyper-personalized, communicating information directly to users through Web 3.0 interfaces.

Imagine stepping into a department store in pursuit of a new web-connected fridge. As soon as you enter, your AR goggles register your location and immediately grant you access to a populated register of store products.

As you move closer to a kitchen set that catches your eye, a virtual salesperson—whether by holographic video or avatar—pops into your field of view next to the fridge you’ve been examining and begins introducing you to its various functions and features. You quickly decide you’d rather disable the avatar and get textual input instead, and preferences are reset to list appliance properties visually.

After a virtual tour of several other fridges, you decide on the one you want and seamlessly execute a smart contract, carried out by your smart wallet and the fridge. The transaction takes place in seconds, and the fridge’s blockchain-recorded ownership record has been updated.

Better yet, you head over to a friend’s home for dinner after moving into the neighborhood. While catching up in the kitchen, your eyes fixate on the cabinets, which quickly populate your AR glasses with a price-point and selection of colors.

But what if you’d rather not get auto-populated product info in the first place? No problem!

Now empowered with self-sovereign identities, users might be able to turn off advertising preferences entirely, turning on smart recommendations only when they want to buy a given product or need new supplies.

And with user-centric data, consumers might even sell such information to advertisers directly. Now, instead of Facebook or Google profiting off your data, you might earn a passive income by giving advertisers permission to personalize and market their services. Buy more, and your personal data marketplace grows in value. Buy less, and a lower-valued advertising profile causes an ebb in advertiser input.

With user-controlled data, advertisers now work on your terms, putting increased pressure on product iteration and personalizing products for each user.

This brings us to the transformative future of retail.

Personalized Retail–Power of the Spatial Web
In a future of smart and hyper-personalized products, I might walk through a virtual game space or a digitally reconstructed Target, browsing specific categories of clothing I’ve predetermined prior to entry.

As I pick out my selection, my AI assistant hones its algorithm reflecting new fashion preferences, and personal shoppers—also visiting the store in VR—help me pair different pieces as I go.

Once my personal shopper has finished constructing various outfits, I then sit back and watch a fashion show of countless Peter avatars with style and color variations of my selection, each customizable.

After I’ve made my selection, I might choose to purchase physical versions of three outfits and virtual versions of two others for my digital avatar. Payments are made automatically as I leave the store, including a smart wallet transaction made with the personal shopper at a per-outfit rate (for only the pieces I buy).

Already, several big players have broken into the VR market. Just this year, Walmart has announced its foray into the VR space, shipping 17,000 Oculus Go VR headsets to Walmart locations across the US.

And just this past January, Walmart filed two VR shopping-related patents. In a new bid to disrupt a rapidly changing retail market, Walmart now describes a system in which users couple their VR headset with haptic gloves for an immersive in-store experience, whether at 3am in your living room or during a lunch break at the office.

But Walmart is not alone. Big e-commerce players from Amazon to Alibaba are leaping onto the scene with new software buildout to ride the impending headset revolution.

Beyond virtual reality, players like IKEA have even begun using mobile-based augmented reality to map digitally replicated furniture in your physical living room, true to dimension. And this is just the beginning….

As AR headset hardware undergoes breakneck advancements in the next two to five years, we might soon be able to project watches onto our wrists, swapping out colors, styles, brand, and price points.

Or let’s say I need a new coffee table in my office. Pulling up multiple models in AR, I can position each option using advanced hand-tracking technology and customize height and width according to my needs. Once the smart payment is triggered, the manufacturer prints my newly-customized piece, droning it to my doorstep. As soon as I need to assemble the pieces, overlaid digital prompts walk me through each step, and any user confusions are communicated to a company database.

Perhaps one of the ripest industries for Spatial Web disruption, retail presents one of the greatest opportunities for profit across virtual apparel, digital malls, AI fashion startups and beyond.

In our next series iteration, I’ll be looking at the tremendous opportunities created by Web 3.0 for the Future of Work and Entertainment.

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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.

Join Me
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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.

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Posted in Human Robots

#432271 Your Shopping Experience Is on the Verge ...

Exponential technologies (AI, VR, 3D printing, and networks) are radically reshaping traditional retail.

E-commerce giants (Amazon, Walmart, Alibaba) are digitizing the retail industry, riding the exponential growth of computation.

Many brick-and-mortar stores have already gone bankrupt, or migrated their operations online.

Massive change is occurring in this arena.

For those “real-life stores” that survive, an evolution is taking place from a product-centric mentality to an experience-based business model by leveraging AI, VR/AR, and 3D printing.

Let’s dive in.

E-Commerce Trends
Last year, 3.8 billion people were connected online. By 2024, thanks to 5G, stratospheric and space-based satellites, we will grow to 8 billion people online, each with megabit to gigabit connection speeds.

These 4.2 billion new digital consumers will begin buying things online, a potential bonanza for the e-commerce world.

At the same time, entrepreneurs seeking to service these four-billion-plus new consumers can now skip the costly steps of procuring retail space and hiring sales clerks.

Today, thanks to global connectivity, contract production, and turnkey pack-and-ship logistics, an entrepreneur can go from an idea to building and scaling a multimillion-dollar business from anywhere in the world in record time.

And while e-commerce sales have been exploding (growing from $34 billion in Q1 2009 to $115 billion in Q3 2017), e-commerce only accounted for about 10 percent of total retail sales in 2017.

In 2016, global online sales totaled $1.8 trillion. Remarkably, this $1.8 trillion was spent by only 1.5 billion people — a mere 20 percent of Earth’s global population that year.

There’s plenty more room for digital disruption.

AI and the Retail Experience
For the business owner, AI will demonetize e-commerce operations with automated customer service, ultra-accurate supply chain modeling, marketing content generation, and advertising.

In the case of customer service, imagine an AI that is trained by every customer interaction, learns how to answer any consumer question perfectly, and offers feedback to product designers and company owners as a result.

Facebook’s handover protocol allows live customer service representatives and language-learning bots to work within the same Facebook Messenger conversation.

Taking it one step further, imagine an AI that is empathic to a consumer’s frustration, that can take any amount of abuse and come back with a smile every time. As one example, meet Ava. “Ava is a virtual customer service agent, to bring a whole new level of personalization and brand experience to that customer experience on a day-to-day basis,” says Greg Cross, CEO of Ava’s creator, an Austrian company called Soul Machines.

Predictive modeling and machine learning are also optimizing product ordering and the supply chain process. For example, Skubana, a platform for online sellers, leverages data analytics to provide entrepreneurs constant product performance feedback and maintain optimal warehouse stock levels.

Blockchain is set to follow suit in the retail space. ShipChain and Ambrosus plan to introduce transparency and trust into shipping and production, further reducing costs for entrepreneurs and consumers.

Meanwhile, for consumers, personal shopping assistants are shifting the psychology of the standard shopping experience.

Amazon’s Alexa marks an important user interface moment in this regard.

Alexa is in her infancy with voice search and vocal controls for smart homes. Already, Amazon’s Alexa users, on average, spent more on Amazon.com when purchasing than standard Amazon Prime customers — $1,700 versus $1,400.

As I’ve discussed in previous posts, the future combination of virtual reality shopping, coupled with a personalized, AI-enabled fashion advisor will make finding, selecting, and ordering products fast and painless for consumers.

But let’s take it one step further.

Imagine a future in which your personal AI shopper knows your desires better than you do. Possible? I think so. After all, our future AIs will follow us, watch us, and observe our interactions — including how long we glance at objects, our facial expressions, and much more.

In this future, shopping might be as easy as saying, “Buy me a new outfit for Saturday night’s dinner party,” followed by a surprise-and-delight moment in which the outfit that arrives is perfect.

In this future world of AI-enabled shopping, one of the most disruptive implications is that advertising is now dead.

In a world where an AI is buying my stuff, and I’m no longer in the decision loop, why would a big brand ever waste money on a Super Bowl advertisement?

The dematerialization, demonetization, and democratization of personalized shopping has only just begun.

The In-Store Experience: Experiential Retailing
In 2017, over 6,700 brick-and-mortar retail stores closed their doors, surpassing the former record year for store closures set in 2008 during the financial crisis. Regardless, business is still booming.

As shoppers seek the convenience of online shopping, brick-and-mortar stores are tapping into the power of the experience economy.

Rather than focusing on the practicality of the products they buy, consumers are instead seeking out the experience of going shopping.

The Internet of Things, artificial intelligence, and computation are exponentially improving the in-person consumer experience.

As AI dominates curated online shopping, AI and data analytics tools are also empowering real-life store owners to optimize staffing, marketing strategies, customer relationship management, and inventory logistics.

In the short term,retail store locations will serve as the next big user interface for production 3D printing (custom 3D printed clothes at the Ministry of Supply), virtual and augmented reality (DIY skills clinics), and the Internet of Things (checkout-less shopping).

In the long term,we’ll see how our desire for enhanced productivity and seamless consumption balances with our preference for enjoyable real-life consumer experiences — all of which will be driven by exponential technologies.

One thing is certain: the nominal shopping experience is on the verge of a major transformation.

Implications
The convergence of exponential technologies has already revamped how and where we shop, how we use our time, and how much we pay.

Twenty years ago, Amazon showed us how the web could offer each of us the long tail of available reading material, and since then, the world of e-commerce has exploded.

And yet we still haven’t experienced the cost savings coming our way from drone delivery, the Internet of Things, tokenized ecosystems, the impact of truly powerful AI, or even the other major applications for 3D printing and AR/VR.

Perhaps nothing will be more transformed than today’s $20 trillion retail sector.

Hold on, stay tuned, and get your AI-enabled cryptocurrency ready.

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Abundance Digital is my ‘onramp’ for exponential entrepreneurs — those who want to get involved and play at a higher level. Click here to learn more.

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