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#433696 3 Big Ways Tech Is Disrupting Global ...

Disruptive business models are often powered by alternative financing. In Part 1 of this series, I discussed how mobile is redefining money and banking and shared some of the dramatic transformations in the global remittance infrastructure.

In this article, we’ll discuss:

Peer-to-peer lending
AI financial advisors and robo traders
Seamless Transactions

Let’s dive right back in…

Decentralized Lending = Democratized Access to Finances
Peer-to-peer (P2P) lending is an age-old practice, traditionally with high risk and extreme locality. Now, the P2P funding model is being digitized and delocalized, bringing lending online and across borders.

Zopa, the first official crowdlending platform, arrived in the United Kingdom in 2004. Since then, the consumer crowdlending platform has facilitated lending of over 3 billion euros ($3.5 billion USD) of loans.

Person-to-business crowdlending took off, again in the U.K., in 2005 with Funding Circle, now with over 5 billion euros (~5.8 billion USD) of capital loaned to small businesses around the world.

Crowdlending next took off in the US in 2006, with platforms like Prosper and Lending Club. The US crowdlending industry has boomed to $21 billion in loans, across 515,000 loans.

Let’s take a step back… to a time before banks, when lending took place between trusted neighbors in small villages across the globe. Lending started as peer-to-peer transactions.

As villages turned into towns, towns turned into cities, and cities turned into sprawling metropolises, neighborly trust and the ability to communicate across urban landscapes broke down. That’s where banks and other financial institutions came into play—to add trust back into the lending equation.

With crowdlending, we are evidently returning to this pre-centralized-banking model of loans, and moving away from cumbersome intermediaries (e.g. high fees, regulations, and extra complexity).

Fueled by the permeation of the internet, P2P lending took on a new form as ‘crowdlending’ in the early 2000s. Now, as blockchain and artificial intelligence arrive on the digital scene, P2P lending platforms are being overhauled with transparency, accountability, reliability, and immutability.

Artificial Intelligence Micro Lending & Credit Scores
We are beginning to augment our quantitative decision-making with neural networks processing borrowers’ financial data to determine their financial ‘fate’ (or, as some call it, your credit score). Companies like Smart Finance Group (backed by Kai Fu Lee and Sinovation Ventures) are using artificial intelligence to minimize default rates for tens of millions of microloans.

Smart Finance is fueled by users’ personal data, particularly smartphone data and usage behavior. Users are required to give Smart Finance access to their smartphone data, so that Smart Finance’s artificial intelligence engine can generate a credit score from the personal information.

The benefits of this AI-powered lending platform do not stop at increased loan payback rates; there’s a massive speed increase as well. Smart Finance loans are frequently approved in under eight seconds. As we’ve seen with other artificial intelligence disruptions, data is the new gold.

Digitizing access to P2P loans paves the way for billions of people currently without access to banking to leapfrog the centralized banking system, just as Africa bypassed landline phones and went straight to mobile. Leapfrogging centralized banking and the credit system is exactly what Smart Finance has done for hundreds of millions of people in China.

Blockchain-Backed Crowdlending
As artificial intelligence accesses even the most mundane mobile browsing data to assign credit scores, blockchain technologies, particularly immutable ledgers and smart contracts, are massive disruptors to the archaic banking system, building additional trust and transparency on top of current P2P lending models.

Immutable ledgers provide the necessary transparency for accurate credit and loan defaulting history. Smart contracts executed on these immutable ledgers bring the critical ability to digitally replace cumbersome, expensive third parties (like banks), allowing individual borrowers or businesses to directly connect with willing lenders.

Two of the leading blockchain platforms for P2P lending are ETHLend and SALT Lending.

ETHLend is an Ethereum-based decentralized application aiming to bring transparency and trust to P2P lending through Ethereum network smart contracts.

Secure Automated Lending Technology (SALT) allows cryptocurrency asset holders to use their digital assets as collateral for cash loans, without the need to liquidate their holdings, giving rise to a digital-asset-backed lending market.

While blockchain poses a threat to many of the large, centralized banking institutions, some are taking advantage of the new technology to optimize their internal lending, credit scoring, and collateral operations.

In March 2018, ING and Credit Suisse successfully exchanged 25 million euros using HQLA-X, a blockchain-based collateral lending platform.

HQLA-X runs on the R3 Corda blockchain, a platform designed specifically to help heritage financial and commerce institutions migrate away from their inefficient legacy financial infrastructure.

Blockchain and tokenization are going through their own fintech and regulation shakeup right now. In a future blog, I’ll discuss the various efforts to more readily assure smart contracts, and the disruptive business model of security tokens and the US Securities and Exchange Commission.

Parallels to the Global Abundance of Capital
The abundance of capital being created by the advent of P2P loans closely relates to the unprecedented global abundance of capital.

Initial coin offerings (ICOs) and crowdfunding are taking a strong stand in disrupting the $164 billion venture capital market. The total amount invested in ICOs has risen from $6.6 billion in 2017 to $7.15 billion USD in the first half of 2018. Crowdfunding helped projects raise more than $34 billion in 2017, with experts projecting that global crowdfunding investments will reach $300 billion by 2025.

In the last year alone, using ICOs, over a dozen projects have raised hundreds of millions of dollars in mere hours. Take Filecoin, for example, which raised $257 million  in only 30 days; its first $135 million was raised in the first hour. Similarly, the Dragon Coin project (which itself is revolutionizing remittance in high-stakes casinos around the world) raised $320 million in its 30-day public ICO.

Some Important Takeaways…

Technology-backed fundraising and financial services are disrupting the world’s largest financial institutions. Anyone, anywhere, at anytime will be able to access the capital they need to pursue their idea.

The speed at which we can go from “I’ve got an idea” to “I run a billion-dollar company” is moving faster than ever.

Following Ray Kurzweil’s Law of Accelerating Returns, the rapid decrease in time to access capital is intimately linked (and greatly dependent on) a financial infrastructure (technology, institutions, platforms, and policies) that can adapt and evolve just as rapidly.

This new abundance of capital requires financial decision-making with ever-higher market prediction precision. That’s exactly where artificial intelligence is already playing a massive role.

Artificial Intelligence, Robo Traders, and Financial Advisors
On May 6, 2010, the Dow Jones Industrial Average suddenly collapsed by 998.5 points (equal to 8 percent, or $1 trillion). The crash lasted over 35 minutes and is now known as the ‘Flash Crash’. While no one knows the specific reason for this 2010 stock market anomaly, experts widely agree that the Flash Crash had to do with algorithmic trading.

With the ability to have instant, trillion-dollar market impacts, algorithmic trading and artificial intelligence are undoubtedly ingrained in how financial markets operate.

In 2017, CNBC.com estimated that 90 percent of daily trading volume in stock trading is done by machine algorithms, and only 10 percent is carried out directly by humans.

Artificial intelligence and financial management algorithms are not only available to top Wall Street players.

Robo-advisor financial management apps, like Wealthfront and Betterment, are rapidly permeating the global market. Wealthfront currently has $9.5 billion in assets under management, and Betterment has $10 billion.

Artificial intelligent financial agents are already helping financial institutions protect your money and fight fraud. A prime application for machine learning is in detecting anomalies in your spending and transaction habits, and flagging potentially fraudulent transactions.

As artificial intelligence continues to exponentially increase in power and capabilities, increasingly powerful trading and financial management bots will come online, finding massive new and previously lost streams of wealth.

How else are artificial intelligence and automation transforming finance?

Disruptive Remittance and Seamless Transactions
When was the last time you paid in cash at a toll booth? How about for a taxi ride?

EZ-Pass, the electronic tolling company implemented extensively on the East Coast, has done wonders to reduce traffic congestion and increase traffic flow.

Driving down I-95 on the East Coast of the United States, drivers rarely notice their financial transaction with the state’s tolling agencies. The transactions are seamless.

The Uber app enables me to travel without my wallet. I can forget about payment on my trip, free up my mental bandwidth and time for higher-priority tasks. The entire process is digitized and, by extension, automated and integrated into Uber’s platform (Note: This incredible convenience many times causes me to accidentally walk out of taxi cabs without paying!).

In January 2018, we saw the success of the first cutting-edge, AI-powered Amazon Go store open in Seattle, Washington. The store marked a new era in remittance and transactions. Gone are the days of carrying credit cards and cash, and gone are the cash registers. And now, on the heals of these early ‘beta-tests’, Amazon is considering opening as many as 3,000 of these cashierless stores by 2023.

Amazon Go stores use AI algorithms that watch various video feeds (from advanced cameras) throughout the store to identify who picks up groceries, exactly what products they select, and how much to charge that person when they walk out of the store. It’s a grab and go experience.

Let’s extrapolate the notion of seamless, integrated payment systems from Amazon Go and Uber’s removal of post-ride payment to the rest of our day-to-day experience.

Imagine this near future:

As you near the front door of your home, your AI assistant summons a self-driving Uber that takes you to the Hyperloop station (after all, you work in L.A. but live in San Francisco).

At the station, you board your pod, without noticing that your ticket purchase was settled via a wireless payment checkpoint.

After work, you stop at the Amazon Go and pick up dinner. Your virtual AI assistant passes your Amazon account information to the store’s payment checkpoint, as the store’s cameras and sensors track you, your cart and charge you auto-magically.

At home, unbeknownst to you, your AI has already restocked your fridge and pantry with whatever items you failed to pick up at the Amazon Go.

Once we remove the actively transacting aspect of finance, what else becomes possible?

Top Conclusions
Extraordinary transformations are happening in the finance world. We’ve only scratched the surface of the fintech revolution. All of these transformative financial technologies require high-fidelity assurance, robust insurance, and a mechanism for storing value.

I’ll dive into each of these other facets of financial services in future articles.

For now, thanks to coming global communication networks being deployed on 5G, Alphabet’s LUNE, SpaceX’s Starlink and OneWeb, by 2024, nearly all 8 billion people on Earth will be online.

Once connected, these new minds, entrepreneurs, and customers need access to money and financial services to meaningfully participate in the world economy.

By connecting lenders and borrowers around the globe, decentralized lending drives down global interest rates, increases global financial market participation, and enables economic opportunity to the billions of people who are about to come online.

We’re living in the most abundant time in human history, and fintech is just getting started.

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Posted in Human Robots

#432549 Your Next Pilot Could Be Drone Software

Would you get on a plane that didn’t have a human pilot in the cockpit? Half of air travelers surveyed in 2017 said they would not, even if the ticket was cheaper. Modern pilots do such a good job that almost any air accident is big news, such as the Southwest engine disintegration on April 17.

But stories of pilot drunkenness, rants, fights and distraction, however rare, are reminders that pilots are only human. Not every plane can be flown by a disaster-averting pilot, like Southwest Capt. Tammie Jo Shults or Capt. Chesley “Sully” Sullenberger. But software could change that, equipping every plane with an extremely experienced guidance system that is always learning more.

In fact, on many flights, autopilot systems already control the plane for basically all of the flight. And software handles the most harrowing landings—when there is no visibility and the pilot can’t see anything to even know where he or she is. But human pilots are still on hand as backups.

A new generation of software pilots, developed for self-flying vehicles, or drones, will soon have logged more flying hours than all humans have—ever. By combining their enormous amounts of flight data and experience, drone-control software applications are poised to quickly become the world’s most experienced pilots.

Drones That Fly Themselves
Drones come in many forms, from tiny quad-rotor copter toys to missile-firing winged planes, or even 7-ton aircraft that can stay aloft for 34 hours at a stretch.

When drones were first introduced, they were flown remotely by human operators. However, this merely substitutes a pilot on the ground for one aloft. And it requires significant communications bandwidth between the drone and control center, to carry real-time video from the drone and to transmit the operator’s commands.

Many newer drones no longer need pilots; some drones for hobbyists and photographers can now fly themselves along human-defined routes, leaving the human free to sightsee—or control the camera to get the best view.

University researchers, businesses, and military agencies are now testing larger and more capable drones that will operate autonomously. Swarms of drones can fly without needing tens or hundreds of humans to control them. And they can perform coordinated maneuvers that human controllers could never handle.

Could humans control these 1,218 drones all together?

Whether flying in swarms or alone, the software that controls these drones is rapidly gaining flight experience.

Importance of Pilot Experience
Experience is the main qualification for pilots. Even a person who wants to fly a small plane for personal and noncommercial use needs 40 hours of flying instruction before getting a private pilot’s license. Commercial airline pilots must have at least 1,000 hours before even serving as a co-pilot.

On-the-ground training and in-flight experience prepare pilots for unusual and emergency scenarios, ideally to help save lives in situations like the “Miracle on the Hudson.” But many pilots are less experienced than “Sully” Sullenberger, who saved his planeload of people with quick and creative thinking. With software, though, every plane can have on board a pilot with as much experience—if not more. A popular software pilot system, in use in many aircraft at once, could gain more flight time each day than a single human might accumulate in a year.

As someone who studies technology policy as well as the use of artificial intelligence for drones, cars, robots, and other uses, I don’t lightly suggest handing over the controls for those additional tasks. But giving software pilots more control would maximize computers’ advantages over humans in training, testing, and reliability.

Training and Testing Software Pilots
Unlike people, computers will follow sets of instructions in software the same way every time. That lets developers create instructions, test reactions, and refine aircraft responses. Testing could make it far less likely, for example, that a computer would mistake the planet Venus for an oncoming jet and throw the plane into a steep dive to avoid it.

The most significant advantage is scale: Rather than teaching thousands of individual pilots new skills, updating thousands of aircraft would require only downloading updated software.

These systems would also need to be thoroughly tested—in both real-life situations and in simulations—to handle a wide range of aviation situations and to withstand cyberattacks. But once they’re working well, software pilots are not susceptible to distraction, disorientation, fatigue, or other human impairments that can create problems or cause errors even in common situations.

Rapid Response and Adaptation
Already, aircraft regulators are concerned that human pilots are forgetting how to fly on their own and may have trouble taking over from an autopilot in an emergency.

In the “Miracle on the Hudson” event, for example, a key factor in what happened was how long it took for the human pilots to figure out what had happened—that the plane had flown through a flock of birds, which had damaged both engines—and how to respond. Rather than the approximately one minute it took the humans, a computer could have assessed the situation in seconds, potentially saving enough time that the plane could have landed on a runway instead of a river.

Aircraft damage can pose another particularly difficult challenge for human pilots: It can change what effects the controls have on its flight. In cases where damage renders a plane uncontrollable, the result is often tragedy. A sufficiently advanced automated system could make minute changes to the aircraft’s steering and use its sensors to quickly evaluate the effects of those movements—essentially learning how to fly all over again with a damaged plane.

Boosting Public Confidence
The biggest barrier to fully automated flight is psychological, not technical. Many people may not want to trust their lives to computer systems. But they might come around when reassured that the software pilot has tens, hundreds, or thousands more hours of flight experience than any human pilot.

Other autonomous technologies, too, are progressing despite public concerns. Regulators and lawmakers are allowing self-driving cars on the roads in many states. But more than half of Americans don’t want to ride in one, largely because they don’t trust the technology. And only 17 percent of travelers around the world are willing to board a plane without a pilot. However, as more people experience self-driving cars on the road and have drones deliver them packages, it is likely that software pilots will gain in acceptance.

The airline industry will certainly be pushing people to trust the new systems: Automating pilots could save tens of billions of dollars a year. And the current pilot shortage means software pilots may be the key to having any airline service to smaller destinations.

Both Boeing and Airbus have made significant investments in automated flight technology, which would remove or reduce the need for human pilots. Boeing has actually bought a drone manufacturer and is looking to add software pilot capabilities to the next generation of its passenger aircraft. (Other tests have tried to retrofit existing aircraft with robotic pilots.)

One way to help regular passengers become comfortable with software pilots—while also helping to both train and test the systems—could be to introduce them as co-pilots working alongside human pilots. Planes would be operated by software from gate to gate, with the pilots instructed to touch the controls only if the system fails. Eventually pilots could be removed from the aircraft altogether, just like they eventually were from the driverless trains that we routinely ride in airports around the world.

This article was originally published on The Conversation. Read the original article.

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Posted in Human Robots

#431995 The 10 Grand Challenges Facing Robotics ...

Robotics research has been making great strides in recent years, but there are still many hurdles to the machines becoming a ubiquitous presence in our lives. The journal Science Robotics has now identified 10 grand challenges the field will have to grapple with to make that a reality.

Editors conducted an online survey on unsolved challenges in robotics and assembled an expert panel of roboticists to shortlist the 30 most important topics, which were then grouped into 10 grand challenges that could have major impact in the next 5 to 10 years. Here’s what they came up with.

1. New Materials and Fabrication Schemes
Roboticists are beginning to move beyond motors, gears, and sensors by experimenting with things like artificial muscles, soft robotics, and new fabrication methods that combine multiple functions in one material. But most of these advances have been “one-off” demonstrations, which are not easy to combine.

Multi-functional materials merging things like sensing, movement, energy harvesting, or energy storage could allow more efficient robot designs. But combining these various properties in a single machine will require new approaches that blend micro-scale and large-scale fabrication techniques. Another promising direction is materials that can change over time to adapt or heal, but this requires much more research.

2. Bioinspired and Bio-Hybrid Robots
Nature has already solved many of the problems roboticists are trying to tackle, so many are turning to biology for inspiration or even incorporating living systems into their robots. But there are still major bottlenecks in reproducing the mechanical performance of muscle and the ability of biological systems to power themselves.

There has been great progress in artificial muscles, but their robustness, efficiency, and energy and power density need to be improved. Embedding living cells into robots can overcome challenges of powering small robots, as well as exploit biological features like self-healing and embedded sensing, though how to integrate these components is still a major challenge. And while a growing “robo-zoo” is helping tease out nature’s secrets, more work needs to be done on how animals transition between capabilities like flying and swimming to build multimodal platforms.

3. Power and Energy
Energy storage is a major bottleneck for mobile robotics. Rising demand from drones, electric vehicles, and renewable energy is driving progress in battery technology, but the fundamental challenges have remained largely unchanged for years.

That means that in parallel to battery development, there need to be efforts to minimize robots’ power utilization and give them access to new sources of energy. Enabling them to harvest energy from their environment and transmitting power to them wirelessly are two promising approaches worthy of investigation.

4. Robot Swarms
Swarms of simple robots that assemble into different configurations to tackle various tasks can be a cheaper, more flexible alternative to large, task-specific robots. Smaller, cheaper, more powerful hardware that lets simple robots sense their environment and communicate is combining with AI that can model the kind of behavior seen in nature’s flocks.

But there needs to be more work on the most efficient forms of control at different scales—small swarms can be controlled centrally, but larger ones need to be more decentralized. They also need to be made robust and adaptable to the changing conditions of the real world and resilient to deliberate or accidental damage. There also needs to be more work on swarms of non-homogeneous robots with complementary capabilities.

5. Navigation and Exploration
A key use case for robots is exploring places where humans cannot go, such as the deep sea, space, or disaster zones. That means they need to become adept at exploring and navigating unmapped, often highly disordered and hostile environments.

The major challenges include creating systems that can adapt, learn, and recover from navigation failures and are able to make and recognize new discoveries. This will require high levels of autonomy that allow the robots to monitor and reconfigure themselves while being able to build a picture of the world from multiple data sources of varying reliability and accuracy.

6. AI for Robotics
Deep learning has revolutionized machines’ ability to recognize patterns, but that needs to be combined with model-based reasoning to create adaptable robots that can learn on the fly.

Key to this will be creating AI that’s aware of its own limitations and can learn how to learn new things. It will also be important to create systems that are able to learn quickly from limited data rather than the millions of examples used in deep learning. Further advances in our understanding of human intelligence will be essential to solving these problems.

7. Brain-Computer Interfaces
BCIs will enable seamless control of advanced robotic prosthetics but could also prove a faster, more natural way to communicate instructions to robots or simply help them understand human mental states.

Most current approaches to measuring brain activity are expensive and cumbersome, though, so work on compact, low-power, and wireless devices will be important. They also tend to involve extended training, calibration, and adaptation due to the imprecise nature of reading brain activity. And it remains to be seen if they will outperform simpler techniques like eye tracking or reading muscle signals.

8. Social Interaction
If robots are to enter human environments, they will need to learn to deal with humans. But this will be difficult, as we have very few concrete models of human behavior and we are prone to underestimate the complexity of what comes naturally to us.

Social robots will need to be able to perceive minute social cues like facial expression or intonation, understand the cultural and social context they are operating in, and model the mental states of people they interact with to tailor their dealings with them, both in the short term and as they develop long-standing relationships with them.

9. Medical Robotics
Medicine is one of the areas where robots could have significant impact in the near future. Devices that augment a surgeon’s capabilities are already in regular use, but the challenge will be to increase the autonomy of these systems in such a high-stakes environment.

Autonomous robot assistants will need to be able to recognize human anatomy in a variety of contexts and be able to use situational awareness and spoken commands to understand what’s required of them. In surgery, autonomous robots could perform the routine steps of a procedure, giving way to the surgeon for more complicated patient-specific bits.

Micro-robots that operate inside the human body also hold promise, but there are still many roadblocks to their adoption, including effective delivery systems, tracking and control methods, and crucially, finding therapies where they improve on current approaches.

10. Robot Ethics and Security
As the preceding challenges are overcome and robots are increasingly integrated into our lives, this progress will create new ethical conundrums. Most importantly, we may become over-reliant on robots.

That could lead to humans losing certain skills and capabilities, making us unable to take the reins in the case of failures. We may end up delegating tasks that should, for ethical reasons, have some human supervision, and allow people to pass the buck to autonomous systems in the case of failure. It could also reduce self-determination, as human behaviors change to accommodate the routines and restrictions required for robots and AI to work effectively.

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Posted in Human Robots

#431916 3-D-printed underwater vortex sensor ...

A new study has shown that a fully 3D-printed whisker sensor made of polyurethane, graphene, and copper tape can detect underwater vortexes with very high sensitivity. The simple design, mechanical reliability, and low-cost fabrication method contribute to the important commercial implications of this versatile new sensor, as described in an article in Soft Robotics Continue reading

Posted in Human Robots

#431081 How the Intelligent Home of the Future ...

As Dorothy famously said in The Wizard of Oz, there’s no place like home. Home is where we go to rest and recharge. It’s familiar, comfortable, and our own. We take care of our homes by cleaning and maintaining them, and fixing things that break or go wrong.
What if our homes, on top of giving us shelter, could also take care of us in return?
According to Chris Arkenberg, this could be the case in the not-so-distant future. As part of Singularity University’s Experts On Air series, Arkenberg gave a talk called “How the Intelligent Home of The Future Will Care For You.”
Arkenberg is a research and strategy lead at Orange Silicon Valley, and was previously a research fellow at the Deloitte Center for the Edge and a visiting researcher at the Institute for the Future.
Arkenberg told the audience that there’s an evolution going on: homes are going from being smart to being connected, and will ultimately become intelligent.
Market Trends
Intelligent home technologies are just now budding, but broader trends point to huge potential for their growth. We as consumers already expect continuous connectivity wherever we go—what do you mean my phone won’t get reception in the middle of Yosemite? What do you mean the smart TV is down and I can’t stream Game of Thrones?
As connectivity has evolved from a privilege to a basic expectation, Arkenberg said, we’re also starting to have a better sense of what it means to give up our data in exchange for services and conveniences. It’s so easy to click a few buttons on Amazon and have stuff show up at your front door a few days later—never mind that data about your purchases gets recorded and aggregated.
“Right now we have single devices that are connected,” Arkenberg said. “Companies are still trying to show what the true value is and how durable it is beyond the hype.”

Connectivity is the basis of an intelligent home. To take a dumb object and make it smart, you get it online. Belkin’s Wemo, for example, lets users control lights and appliances wirelessly and remotely, and can be paired with Amazon Echo or Google Home for voice-activated control.
Speaking of voice-activated control, Arkenberg pointed out that physical interfaces are evolving, too, to the point that we’re actually getting rid of interfaces entirely, or transitioning to ‘soft’ interfaces like voice or gesture.
Drivers of change
Consumers are open to smart home tech and companies are working to provide it. But what are the drivers making this tech practical and affordable? Arkenberg said there are three big ones:
Computation: Computers have gotten exponentially more powerful over the past few decades. If it wasn’t for processors that could handle massive quantities of information, nothing resembling an Echo or Alexa would even be possible. Artificial intelligence and machine learning are powering these devices, and they hinge on computing power too.
Sensors: “There are more things connected now than there are people on the planet,” Arkenberg said. Market research firm Gartner estimates there are 8.4 billion connected things currently in use. Wherever digital can replace hardware, it’s doing so. Cheaper sensors mean we can connect more things, which can then connect to each other.
Data: “Data is the new oil,” Arkenberg said. “The top companies on the planet are all data-driven giants. If data is your business, though, then you need to keep finding new ways to get more and more data.” Home assistants are essentially data collection systems that sit in your living room and collect data about your life. That data in turn sets up the potential of machine learning.
Colonizing the Living Room
Alexa and Echo can turn lights on and off, and Nest can help you be energy-efficient. But beyond these, what does an intelligent home really look like?
Arkenberg’s vision of an intelligent home uses sensing, data, connectivity, and modeling to manage resource efficiency, security, productivity, and wellness.
Autonomous vehicles provide an interesting comparison: they’re surrounded by sensors that are constantly mapping the world to build dynamic models to understand the change around itself, and thereby predict things. Might we want this to become a model for our homes, too? By making them smart and connecting them, Arkenberg said, they’d become “more biological.”
There are already several products on the market that fit this description. RainMachine uses weather forecasts to adjust home landscape watering schedules. Neurio monitors energy usage, identifies areas where waste is happening, and makes recommendations for improvement.
These are small steps in connecting our homes with knowledge systems and giving them the ability to understand and act on that knowledge.
He sees the homes of the future being equipped with digital ears (in the form of home assistants, sensors, and monitoring devices) and digital eyes (in the form of facial recognition technology and machine vision to recognize who’s in the home). “These systems are increasingly able to interrogate emotions and understand how people are feeling,” he said. “When you push more of this active intelligence into things, the need for us to directly interface with them becomes less relevant.”
Could our homes use these same tools to benefit our health and wellness? FREDsense uses bacteria to create electrochemical sensors that can be applied to home water systems to detect contaminants. If that’s not personal enough for you, get a load of this: ClinicAI can be installed in your toilet bowl to monitor and evaluate your biowaste. What’s the point, you ask? Early detection of colon cancer and other diseases.
What if one day, your toilet’s biowaste analysis system could link up with your fridge, so that when you opened it it would tell you what to eat, and how much, and at what time of day?
Roadblocks to intelligence
“The connected and intelligent home is still a young category trying to establish value, but the technological requirements are now in place,” Arkenberg said. We’re already used to living in a world of ubiquitous computation and connectivity, and we have entrained expectations about things being connected. For the intelligent home to become a widespread reality, its value needs to be established and its challenges overcome.
One of the biggest challenges will be getting used to the idea of continuous surveillance. We’ll get convenience and functionality if we give up our data, but how far are we willing to go? Establishing security and trust is going to be a big challenge moving forward,” Arkenberg said.
There’s also cost and reliability, interoperability and fragmentation of devices, or conversely, what Arkenberg called ‘platform lock-on,’ where you’d end up relying on only one provider’s system and be unable to integrate devices from other brands.
Ultimately, Arkenberg sees homes being able to learn about us, manage our scheduling and transit, watch our moods and our preferences, and optimize our resource footprint while predicting and anticipating change.
“This is the really fascinating provocation of the intelligent home,” Arkenberg said. “And I think we’re going to start to see this play out over the next few years.”
Sounds like a home Dorothy wouldn’t recognize, in Kansas or anywhere else.
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Posted in Human Robots