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#434818 Watch These Robots Do Tasks You Thought ...

Robots have been masters of manufacturing at speed and precision for decades, but give them a seemingly simple task like stacking shelves, and they quickly get stuck. That’s changing, though, as engineers build systems that can take on the deceptively tricky tasks most humans can do with their eyes closed.

Boston Dynamics is famous for dramatic reveals of robots performing mind-blowing feats that also leave you scratching your head as to what the market is—think the bipedal Atlas doing backflips or Spot the galloping robot dog.

Last week, the company released a video of a robot called Handle that looks like an ostrich on wheels carrying out the seemingly mundane task of stacking boxes in a warehouse.

It might seem like a step backward, but this is exactly the kind of practical task robots have long struggled with. While the speed and precision of industrial robots has seen them take over many functions in modern factories, they’re generally limited to highly prescribed tasks carried out in meticulously-controlled environments.

That’s because despite their mechanical sophistication, most are still surprisingly dumb. They can carry out precision welding on a car or rapidly assemble electronics, but only by rigidly following a prescribed set of motions. Moving cardboard boxes around a warehouse might seem simple to a human, but it actually involves a variety of tasks machines still find pretty difficult—perceiving your surroundings, navigating, and interacting with objects in a dynamic environment.

But the release of this video suggests Boston Dynamics thinks these kinds of applications are close to prime time. Last week the company doubled down by announcing the acquisition of start-up Kinema Systems, which builds computer vision systems for robots working in warehouses.

It’s not the only company making strides in this area. On the same day the video went live, Google unveiled a robot arm called TossingBot that can pick random objects from a box and quickly toss them into another container beyond its reach, which could prove very useful for sorting items in a warehouse. The machine can train on new objects in just an hour or two, and can pick and toss up to 500 items an hour with better accuracy than any of the humans who tried the task.

And an apple-picking robot built by Abundant Robotics is currently on New Zealand farms navigating between rows of apple trees using LIDAR and computer vision to single out ripe apples before using a vacuum tube to suck them off the tree.

In most cases, advances in machine learning and computer vision brought about by the recent AI boom are the keys to these rapidly improving capabilities. Robots have historically had to be painstakingly programmed by humans to solve each new task, but deep learning is making it possible for them to quickly train themselves on a variety of perception, navigation, and dexterity tasks.

It’s not been simple, though, and the application of deep learning in robotics has lagged behind other areas. A major limitation is that the process typically requires huge amounts of training data. That’s fine when you’re dealing with image classification, but when that data needs to be generated by real-world robots it can make the approach impractical. Simulations offer the possibility to run this training faster than real time, but it’s proved difficult to translate policies learned in virtual environments into the real world.

Recent years have seen significant progress on these fronts, though, and the increasing integration of modern machine learning with robotics. In October, OpenAI imbued a robotic hand with human-level dexterity by training an algorithm in a simulation using reinforcement learning before transferring it to the real-world device. The key to ensuring the translation went smoothly was injecting random noise into the simulation to mimic some of the unpredictability of the real world.

And just a couple of weeks ago, MIT researchers demonstrated a new technique that let a robot arm learn to manipulate new objects with far less training data than is usually required. By getting the algorithm to focus on a few key points on the object necessary for picking it up, the system could learn to pick up a previously unseen object after seeing only a few dozen examples (rather than the hundreds or thousands typically required).

How quickly these innovations will trickle down to practical applications remains to be seen, but a number of startups as well as logistics behemoth Amazon are developing robots designed to flexibly pick and place the wide variety of items found in your average warehouse.

Whether the economics of using robots to replace humans at these kinds of menial tasks makes sense yet is still unclear. The collapse of collaborative robotics pioneer Rethink Robotics last year suggests there are still plenty of challenges.

But at the same time, the number of robotic warehouses is expected to leap from 4,000 today to 50,000 by 2025. It may not be long until robots are muscling in on tasks we’ve long assumed only humans could do.

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#434812 This Week’s Awesome Stories From ...

FUTURE OF FOOD
Behold the ‘Beefless Impossible Whopper’
Nathaniel Popper | The New York Times
“Burger King is introducing a Whopper made with a vegetarian patty from the start-up Impossible Foods. The deal is a big step toward the mainstream for start-ups trying to mimic and replace meat.”

ARTIFICIAL INTELLIGENCE
The Animal-AI Olympics Is Going to Treat AI Like a Lab Rat
Oscar Schwartz | MIT Technology Review
“What is being tested is not a particular type of intelligence but the ability for a single agent to adapt to diverse environments. This would demonstrate a limited form of generalized intelligence—a type of common sense that AI will need if it is ever to succeed in our homes or in our daily lives.”

SPACE
Falcon Heavy’s First Real Launch on Sunday Is the Dawn of a New Heavy-Lift Era in Space
Devin Coldewey | TechCrunch
“The Falcon Heavy has flown before, but now it’s got a payload that matters and competitors nipping at its heels. It’s the first of a new generation of launch vehicles that can take huge payloads to space cheaply and frequently, opening up a new frontier in the space race.”

ROBOTICS
Self-Driving Harvesting Robot Suctions the Fruit Off Trees
Luke Dormehl | Digital Trends
“[Abundant Robotics] has developed a cutting edge solution to the apple-picking problem in the form of an autonomous tractor-style vehicle which can navigate through orchards using Lidar. Once it spots the apples it seeks, it’s able to detect their ripeness using image recognition technology. It can then reach out and literally suction its chosen apples off the trees and into an on-board storage bin.”

CRYPTOCURRENCY
Amid Bitcoin Uncertainty ‘the Smart Money Knows That Crypto Is Not Ready’
Nathaniel Popper | The New York Times
“Some cryptocurrency enthusiasts had hoped that the entrance of Wall Street institutions would give them legitimacy with traditional investors. But their struggles—and waning interest—illustrate the difficulty in bringing Bitcoin from the fringes of the internet into the mainstream financial world.”

SCIENCE
Sorry, Graphene—Borophene Is the New Wonder Material That’s Got Everyone Excited
Emerging Technology from the arXiv | MIT Technology Review
“Stronger and more flexible than graphene, a single-atom layer of boron could revolutionize sensors, batteries, and catalytic chemistry.”

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#434805 Get Ready for National Robotics Week

It's the tenth year of the most popular robotics celebration in the U.S. Continue reading

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#434797 This Week’s Awesome Stories From ...

GENE EDITING
Genome Engineers Made More Than 13,000 Genome Edits in a Single Cell
Antonio Regalado | MIT Technology Review
“The group, led by gene technologist George Church, wants to rewrite genomes at a far larger scale than has currently been possible, something it says could ultimately lead to the ‘radical redesign’ of species—even humans.”

ROBOTICS
Inside Google’s Rebooted Robotics Program
Cade Metz | The New York Times
“Google’s new lab is indicative of a broader effort to bring so-called machine learning to robotics. …Many believe that machine learning—not extravagant new devices—will be the key to developing robotics for manufacturing, warehouse automation, transportation and many other tasks.

VIDEOS
Boston Dynamics Builds the Warehouse Robot of Jeff Bezos’ Dreams
Luke Dormehl | Digital Trends
“…for anyone wondering what the future of warehouse operation is likely to look like, this offers a far more practical glimpse of the years to come than, say, a dancing dog robot. As Boston Dynamics moves toward commercializing its creations for the first time, this could turn out to be a lot closer than you might think.”

TECHNOLOGY
Europe Is Splitting the Internet Into Three
Casey Newton | The Verge
“The internet had previously been divided into two: the open web, which most of the world could access; and the authoritarian web of countries like China, which is parceled out stingily and heavily monitored. As of today, though, the web no longer feels truly worldwide. Instead we now have the American internet, the authoritarian internet, and the European internet. How does the EU Copyright Directive change our understanding of the web?”

VIRTUAL REALITY
No Man’s Sky’s Next Update Will Let You Explore Infinite Space in Virtual Reality
Taylor Hatmaker | TechCrunch
“Assuming the game runs well enough, No Man’s Sky Virtual Reality will be a far cry from gimmicky VR games that lack true depth, offering one of the most expansive—if not the most expansive—VR experiences to date.”

3D PRINTING
3D Metal Printing Tries to Break Into the Manufacturing Mainstream
Mark Anderson | IEEE Spectrum
“It’s been five or so years since 3D printing was at peak hype. Since then, the technology has edged its way into a new class of materials and started to break into more applications. Today, 3D printers are being seriously considered as a means to produce stainless steel 5G smartphones, high-strength alloy gas-turbine blades, and other complex metal parts.”

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#434772 Traditional Higher Education Is Losing ...

Should you go to graduate school? If so, why? If not, what are your alternatives? Millions of young adults across the globe—and their parents and mentors—find themselves asking these questions every year.

Earlier this month, I explored how exponential technologies are rising to meet the needs of the rapidly changing workforce.

In this blog, I’ll dive into a highly effective way to build the business acumen and skills needed to make the most significant impact in these exponential times.

To start, let’s dive into the value of graduate school versus apprenticeship—especially during this time of extraordinarily rapid growth, and the micro-diversification of careers.

The True Value of an MBA
All graduate schools are not created equal.

For complex technical trades like medicine, engineering, and law, formal graduate-level training provides a critical foundation for safe, ethical practice (until these trades are fully augmented by artificial intelligence and automation…).

For the purposes of today’s blog, let’s focus on the value of a Master in Business Administration (MBA) degree, compared to acquiring your business acumen through various forms of apprenticeship.

The Waning of Business Degrees
Ironically, business schools are facing a tough business problem. The rapid rate of technological change, a booming job market, and the digitization of education are chipping away at the traditional graduate-level business program.

The data speaks for itself.

The Decline of Graduate School Admissions
Enrollment in two-year, full-time MBA programs in the US fell by more than one-third from 2010 to 2016.

While in previous years, top business schools (e.g. Stanford, Harvard, and Wharton) were safe from the decrease in applications, this year, they also felt the waning interest in MBA programs.

Harvard Business School: 4.5 percent decrease in applications, the school’s biggest drop since 2005.
Wharton: 6.7 percent decrease in applications.
Stanford Graduate School: 4.6 percent decrease in applications.

Another signal of change began unfolding over the past week. You may have read news headlines about an emerging college admissions scam, which implicates highly selective US universities, sports coaches, parents, and students in a conspiracy to game the undergraduate admissions process.

Already, students are filing multibillion-dollar civil lawsuits arguing that the scheme has devalued their degrees or denied them a fair admissions opportunity.

MBA Graduates in the Workforce
To meet today’s business needs, startups and massive companies alike are increasingly hiring technologists, developers, and engineers in place of the MBA graduates they may have preferentially hired in the past.

While 85 percent of US employers expect to hire MBA graduates this year (a decrease from 91 percent in 2017), 52 percent of employers worldwide expect to hire graduates with a master’s in data analytics (an increase from 35 percent last year).

We’re also seeing the waning of MBA degree holders at the CEO level.

For decades, an MBA was the hallmark of upward mobility towards the C-suite of top companies.

But as exponential technologies permeate not only products but every part of the supply chain—from manufacturing and shipping to sales, marketing and customer service—that trend is changing by necessity.

Looking at the Harvard Business Review’s Top 100 CEOs in 2018 list, more CEOs on the list held engineering degrees than MBAs (34 held engineering degrees, while 32 held MBAs).

There’s much more to leading innovative companies than an advanced business degree.

How Are Schools Responding?
With disruption to the advanced business education system already here, some business schools are applying notes from their own innovation classes to brace for change.

Over the past half-decade, we’ve seen schools with smaller MBA programs shut their doors in favor of advanced degrees with more specialization. This directly responds to market demand for skills in data science, supply chain, and manufacturing.

Some degrees resemble the precise skills training of technical trades. Others are very much in line with the apprenticeship models we’ll explore next.

Regardless, this new specialization strategy is working and attracting more new students. Over the past decade (2006 to 2016), enrollment in specialized graduate business programs doubled.

Higher education is also seeing a preference shift toward for-profit trade schools, like coding boot camps. This shift is one of several forces pushing universities to adopt skill-specific advanced degrees.

But some schools are slow to adapt, raising the question: how and when will these legacy programs be disrupted? A survey of over 170 business school deans around the world showed that many programs are operating at a loss.

But if these schools are world-class business institutions, as advertised, why do they keep the doors open even while they lose money? The surveyed deans revealed an important insight: they keep the degree program open because of the program’s prestige.

Why Go to Business School?
Shorthand Credibility, Cognitive Biases, and Prestige
Regardless of what knowledge a person takes away from graduate school, attending one of the world’s most rigorous and elite programs gives grads external validation.

With over 55 percent of MBA applicants applying to just 6 percent of graduate business schools, we have a clear cognitive bias toward the perceived elite status of certain universities.

To the outside world, thanks to the power of cognitive biases, an advanced degree is credibility shorthand for your capabilities.

Simply passing through a top school’s filtration system means that you had some level of abilities and merits.

And startup success statistics tend to back up that perceived enhanced capability. Let’s take, for example, universities with the most startup unicorn founders (see the figure below).

When you consider the 320+ unicorn startups around the world today, these numbers become even more impressive. Stanford’s 18 unicorn companies account for over 5 percent of global unicorns, and Harvard is responsible for producing just under 5 percent.

Combined, just these two universities (out of over 5,000 in the US, and thousands more around the world) account for 1 in 10 of the billion-dollar private companies in the world.

By the numbers, the prestigious reputation of these elite business programs has a firm basis in current innovation success.

While prestige may be inherent to the degree earned by graduates from these business programs, the credibility boost from holding one of these degrees is not a guaranteed path to success in the business world.

For example, you might expect that the Harvard School of Business or Stanford Graduate School of Business would come out on top when tallying up the alma maters of Fortune 500 CEOs.

It turns out that the University of Wisconsin-Madison leads the business school pack with 14 CEOs to Harvard’s 12. Beyond prestige, the success these elite business programs see translates directly into cultivating unmatched networks and relationships.

Relationships
Graduate schools—particularly at the upper echelon—are excellent at attracting sharp students.

At an elite business school, if you meet just five to ten people with extraordinary skill sets, personalities, ideas, or networks, then you have returned your $200,000 education investment.

It’s no coincidence that some 40 percent of Silicon Valley venture capitalists are alumni of either Harvard or Stanford.

From future investors to advisors, friends, and potential business partners, relationships are critical to an entrepreneur’s success.

Apprenticeships
As we saw above, graduate business degree programs are melting away in the current wave of exponential change.

With an increasing $1.5 trillion in student debt, there must be a more impactful alternative to attending graduate school for those starting their careers.

When I think about the most important skills I use today as an entrepreneur, writer, and strategic thinker, they didn’t come from my decade of graduate school at Harvard or MIT… they came from my experiences building real technologies and companies, and working with mentors.

Apprenticeship comes in a variety of forms; here, I’ll cover three top-of-mind approaches:

Real-world business acumen via startup accelerators
A direct apprenticeship model
The 6 D’s of mentorship

Startup Accelerators and Business Practicum
Let’s contrast the shrinking interest in MBA programs with applications to a relatively new model of business education: startup accelerators.

Startup accelerators are short-term (typically three to six months), cohort-based programs focusing on providing startup founders with the resources (capital, mentorship, relationships, and education) needed to refine their entrepreneurial acumen.

While graduate business programs have been condensing, startup accelerators are alive, well, and expanding rapidly.

In the 10 years from 2005 (when Paul Graham founded Y Combinator) through 2015, the number of startup accelerators in the US increased by more than tenfold.

The increase in startup accelerator activity hints at a larger trend: our best and brightest business minds are opting to invest their time and efforts in obtaining hands-on experience, creating tangible value for themselves and others, rather than diving into the theory often taught in business school classrooms.

The “Strike Force” Model
The Strike Force is my elite team of young entrepreneurs who work directly with me across all of my companies, travel by my side, sit in on every meeting with me, and help build businesses that change the world.

Previous Strike Force members have gone on to launch successful companies, including Bold Capital Partners, my $250 million venture capital firm.

Strike Force is an apprenticeship for the next generation of exponential entrepreneurs.

To paraphrase my good friend Tony Robbins: If you want to short-circuit the video game, find someone who’s been there and done that and is now doing something you want to one day do.

Every year, over 500,000 apprentices in the US follow this precise template. These apprentices are learning a craft they wish to master, under the mentorship of experts (skilled metal workers, bricklayers, medical technicians, electricians, and more) who have already achieved the desired result.

What if we more readily applied this model to young adults with aspirations of creating massive value through the vehicles of entrepreneurship and innovation?

For the established entrepreneur: How can you bring young entrepreneurs into your organization to create more value for your company, while also passing on your ethos and lessons learned to the next generation?

For the young, driven millennial: How can you find your mentor and convince him or her to take you on as an apprentice? What value can you create for this person in exchange for their guidance and investment in your professional development?

The 6 D’s of Mentorship
In my last blog on education, I shared how mobile device and internet penetration will transform adult literacy and basic education. Mobile phones and connectivity already create extraordinary value for entrepreneurs and young professionals looking to take their business acumen and skill set to the next level.

For all of human history up until the last decade or so, if you wanted to learn from the best and brightest in business, leadership, or strategy, you either needed to search for a dated book that they wrote at the local library or bookstore, or you had to be lucky enough to meet that person for a live conversation.

Now you can access the mentorship of just about any thought leader on the planet, at any time, for free.

Thanks to the power of the internet, mentorship has digitized, demonetized, dematerialized, and democratized.

What do you want to learn about?

Investing? Leadership? Technology? Marketing? Project management?

You can access a near-infinite stream of cutting-edge tools, tactics, and lessons from thousands of top performers from nearly every field—instantaneously, and for free.

For example, every one of Warren Buffett’s letters to his Berkshire Hathaway investors over the past 40 years is available for free on a device that fits in your pocket.

The rise of audio—particularly podcasts and audiobooks—is another underestimated driving force away from traditional graduate business programs and toward apprenticeships.

Over 28 million podcast episodes are available for free. Once you identify the strong signals in the noise, you’re still left with thousands of hours of long-form podcast conversation from which to learn valuable lessons.

Whenever and wherever you want, you can learn from the world’s best. In the future, mentorship and apprenticeship will only become more personalized. Imagine accessing a high-fidelity, AI-powered avatar of Bill Gates, Richard Branson, or Arthur C. Clarke (one of my early mentors) to help guide you through your career.

Virtual mentorship and coaching are powerful education forces that are here to stay.

Bringing It All Together
The education system is rapidly changing. Traditional master’s programs for business are ebbing away in the tides of exponential technologies. Apprenticeship models are reemerging as an effective way to train tomorrow’s leaders.

In a future blog, I’ll revisit the concept of apprenticeships and other effective business school alternatives.

If you are a young, ambitious entrepreneur (or the parent of one), remember that you live in the most abundant time ever in human history to refine your craft.

Right now, you have access to world-class mentorship and cutting-edge best-practices—literally in the palm of your hand. What will you do with this extraordinary power?

Join Me
Abundance-Digital Online Community: I’ve created a Digital/Online community of bold, abundance-minded entrepreneurs called Abundance-Digital. 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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