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Artificial intelligence has received its fair share of hype recently. However, it’s hype that’s well-founded: IDC predicts worldwide spend on AI and cognitive computing will culminate to a whopping $46 billion (with a “b”) by 2020, and all the tech giants are jumping on board faster than you can say “ROI.” But what is AI, exactly?
According to Hilary Mason, AI today is being misused as a sort of catch-all term to basically describe “any system that uses data to do anything.” But it’s so much more than that. A truly artificially intelligent system is one that learns on its own, one that’s capable of crunching copious amounts of data in order to create associations and intelligently mimic actual human behavior.
It’s what powers the technology anticipating our next online purchase (Amazon), or the virtual assistant that deciphers our voice commands with incredible accuracy (Siri), or even the hipster-friendly recommendation engine that helps you discover new music before your friends do (Pandora). But AI is moving past these consumer-pleasing “nice-to-haves” and getting down to serious business: saving our butts.
Much in the same way robotics entered manufacturing, AI is making its mark in healthcare by automating mundane, repetitive tasks. This is especially true in the case of detecting cancer. By leveraging the power of deep learning, algorithms can now be trained to distinguish between sets of pixels in an image that represents cancer versus sets that don’t—not unlike how Facebook’s image recognition software tags pictures of our friends without us having to type in their names first. This software can then go ahead and scour millions of medical images (MRIs, CT scans, etc.) in a single day to detect anomalies on a scope that humans just aren’t capable of. That’s huge.
As if that wasn’t enough, these algorithms are constantly learning and evolving, getting better at making these associations with each new data set that gets fed to them. Radiology, dermatology, and pathology will experience a giant upheaval as tech giants and startups alike jump in to bring these deep learning algorithms to a hospital near you.
In fact, some already are: the FDA recently gave their seal of approval for an AI-powered medical imaging platform that helps doctors analyze and diagnose heart anomalies. This is the first time the FDA has approved a machine learning application for use in a clinical setting.
But how efficient is AI compared to humans, really? Well, aside from the obvious fact that software programs don’t get bored or distracted or have to check Facebook every twenty minutes, AI is exponentially better than us at analyzing data.
Take, for example, IBM’s Watson. Watson analyzed genomic data from both tumor cells and healthy cells and was ultimately able to glean actionable insights in a mere 10 minutes. Compare that to the 160 hours it would have taken a human to analyze that same data. Diagnoses aside, AI is also being leveraged in pharmaceuticals to aid in the very time-consuming grunt work of discovering new drugs, and all the big players are getting involved.
But AI is far from being just a behind-the-scenes player. Gartner recently predicted that by 2025, 50 percent of the population will rely on AI-powered “virtual personal health assistants” for their routine primary care needs. What this means is that consumer-facing voice and chat-operated “assistants” (think Siri or Cortana) would, in effect, serve as a central hub of interaction for all our connected health devices and the algorithms crunching all our real-time biometric data. These assistants would keep us apprised of our current state of well-being, acting as a sort of digital facilitator for our personal health objectives and an always-on health alert system that would notify us when we actually need to see a physician.
Slowly, and thanks to the tsunami of data and advancements in self-learning algorithms, healthcare is transitioning from a reactive model to more of a preventative model—and it’s completely upending the way care is delivered. Whether Elon Musk’s dystopian outlook on AI holds any weight or not is yet to be determined. But one thing’s certain: for the time being, artificial intelligence is saving our lives.
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For every new piece of technology that gets developed, you can usually find people saying it will never be useful. The president of the Michigan Savings Bank in 1903, for example, said, “The horse is here to stay but the automobile is only a novelty—a fad.” It’s equally easy to find people raving about whichever new technology is at the peak of the Gartner Hype Cycle, which tracks the buzz around these newest developments and attempts to temper predictions. When technologies emerge, there are all kinds of uncertainties, from the actual capacity of the technology to its use cases in real life to the price tag.
Eventually the dust settles, and some technologies get widely adopted, to the extent that they can become “invisible”; people take them for granted. Others fall by the wayside as gimmicky fads or impractical ideas. Picking which horses to back is the difference between Silicon Valley millions and Betamax pub-quiz-question obscurity. For a while, it seemed that Google had—for once—backed the wrong horse.
Google Glass emerged from Google X, the ubiquitous tech giant’s much-hyped moonshot factory, where highly secretive researchers work on the sci-fi technologies of the future. Self-driving cars and artificial intelligence are the more mundane end for an organization that apparently once looked into jetpacks and teleportation.
The original smart glasses, Google began selling Google Glass in 2013 for $1,500 as prototypes for their acolytes, around 8,000 early adopters. Users could control the glasses with a touchpad, or, activated by tilting the head back, with voice commands. Audio relay—as with several wearable products—is via bone conduction, which transmits sound by vibrating the skull bones of the user. This was going to usher in the age of augmented reality, the next best thing to having a chip implanted directly into your brain.
On the surface, it seemed to be a reasonable proposition. People had dreamed about augmented reality for a long time—an onboard, JARVIS-style computer giving you extra information and instant access to communications without even having to touch a button. After smartphone ubiquity, it looked like a natural step forward.
Instead, there was a backlash. People may be willing to give their data up to corporations, but they’re less pleased with the idea that someone might be filming them in public. The worst aspect of smartphones is trying to talk to people who are distractedly scrolling through their phones. There’s a famous analogy in Revolutionary Road about an old couple’s loveless marriage: the husband tunes out his wife’s conversation by turning his hearing aid down to zero. To many, Google Glass seemed to provide us with a whole new way to ignore each other in favor of our Twitter feeds.
Then there’s the fact that, regardless of whether it’s because we’re not used to them, or if it’s a more permanent feature, people wearing AR tech often look very silly. Put all this together with a lack of early functionality, the high price (do you really feel comfortable wearing a $1,500 computer?), and a killer pun for the users—Glassholes—and the final recipe wasn’t great for Google.
Google Glass was quietly dropped from sale in 2015 with the ominous slogan posted on Google’s website “Thanks for exploring with us.” Reminding the Glass users that they had always been referred to as “explorers”—beta-testing a product, in many ways—it perhaps signaled less enthusiasm for wearables than the original, Google Glass skydive might have suggested.
In reality, Google went back to the drawing board. Not with the technology per se, although it has improved in the intervening years, but with the uses behind the technology.
Under what circumstances would you actually need a Google Glass? When would it genuinely be preferable to a smartphone that can do many of the same things and more? Beyond simply being a fashion item, which Google Glass decidedly was not, even the most tech-evangelical of us need a convincing reason to splash $1,500 on a wearable computer that’s less socially acceptable and less easy to use than the machine you’re probably reading this on right now.
Enter the Google Glass Enterprise Edition.
Piloted in factories during the years that Google Glass was dormant, and now roaring back to life and commercially available, the Google Glass relaunch got under way in earnest in July of 2017. The difference here was the specific audience: workers in factories who need hands-free computing because they need to use their hands at the same time.
In this niche application, wearable computers can become invaluable. A new employee can be trained with pre-programmed material that explains how to perform actions in real time, while instructions can be relayed straight into a worker’s eyeline without them needing to check a phone or switch to email.
Medical devices have long been a dream application for Google Glass. You can imagine a situation where people receive real-time information during surgery, or are augmented by artificial intelligence that provides additional diagnostic information or questions in response to a patient’s symptoms. The quest to develop a healthcare AI, which can provide recommendations in response to natural language queries, is on. The famously untidy doctor’s handwriting—and the associated death toll—could be avoided if the glasses could take dictation straight into a patient’s medical records. All of this is far more useful than allowing people to check Facebook hands-free while they’re riding the subway.
Google’s “Lens” application indicates another use for Google Glass that hadn’t quite matured when the original was launched: the Lens processes images and provides information about them. You can look at text and have it translated in real time, or look at a building or sign and receive additional information. Image processing, either through neural networks hooked up to a cloud database or some other means, is the frontier that enables driverless cars and similar technology to exist. Hook this up to a voice-activated assistant relaying information to the user, and you have your killer application: real-time annotation of the world around you. It’s this functionality that just wasn’t ready yet when Google launched Glass.
Amazon’s recent announcement that they want to integrate Alexa into a range of smart glasses indicates that the tech giants aren’t ready to give up on wearables yet. Perhaps, in time, people will become used to voice activation and interaction with their machines, at which point smart glasses with bone conduction will genuinely be more convenient than a smartphone.
But in many ways, the real lesson from the initial failure—and promising second life—of Google Glass is a simple question that developers of any smart technology, from the Internet of Things through to wearable computers, must answer. “What can this do that my smartphone can’t?” Find your answer, as the Enterprise Edition did, as Lens might, and you find your product.
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Last week, Eric Schmidt, chairman of Alphabet, predicted that China will rapidly overtake the US in artificial intelligence…in as little as five years.
Last month, China announced plans to open a $10 billion quantum computing research center in 2020.
Bottom line, China is aggressively investing in exponential technologies, pursuing a bold goal of becoming the global AI superpower by 2030.
Based on what I’ve observed from China’s entrepreneurial scene, I believe they have a real shot of hitting that goal.
As I described in a previous tech blog, I recently traveled to China with a group of my Abundance 360 members, where I was hosted by my friend Kai-Fu Lee, the founder, chairman, and CEO of Sinovation Ventures.
On one of our first nights, Kai-Fu invited us to a special dinner at Da Dong Roast, which specializes in Peking duck, where we shared an 18-course meal.
The meal was amazing, and Kai-Fu’s dinner conversation provided us priceless insights on Chinese entrepreneurs.
Three topics opened my eyes. Here’s the wisdom I’d like to share with you.
1. The Entrepreneurial Culture in China
Chinese entrepreneurship has exploded onto the scene and changed significantly over the past 10 years.
In my opinion, one significant way that Chinese entrepreneurs vary from their American counterparts is in work ethic. The mantra I found in the startups I visited in Beijing and Shanghai was “9-9-6”—meaning the employees only needed to work from 9 am to 9 pm, 6 days a week.
Another concept Kai-Fu shared over dinner was the almost ‘dictatorial’ leadership of the founder/CEO. In China, it’s not uncommon for the Founder/CEO to own the majority of the company, or at least 30–40 percent. It’s also the case that what the CEO says is gospel. Period, no debate. There is no minority or dissenting opinion. When the CEO says “march,” the company asks, “which way?”
When Kai-Fu started Sinovation (his $1 billion+ venture fund), there were few active angel investors. Today, China has a rich ecosystem of angel, venture capital, and government-funded innovation parks.
As venture capital in China has evolved, so too has the mindset of the entrepreneur.
Kai -Fu recalled an early investment he made in which, after an unfortunate streak, the entrepreneur came to him, almost in tears, apologizing for losing his money and promising he would earn it back for him in another way. Kai-Fu comforted the entrepreneur and said there was no such need.
Only a few years later, the situation was vastly different. An entrepreneur who was going through a similar unfortunate streak came to Kai Fu and told him he only had $2 million left of his initial $12 million investment. He informed him he saw no value in returning the money and instead was going to take the last $2 million and use it as a final push to see if the company could succeed. He then promised Kai-Fu if he failed, he would remember what Kai-Fu did for him and, as such, possibly give Sinovation an opportunity to invest in him with his next company.
2. Chinese Companies Are No Longer Just ‘Copycats’
During dinner, Kai-Fu lamented that 10 years ago, it would be fair to call Chinese companies copycats of American companies. Five years ago, the claim would be controversial. Today, however, Kai-Fu is clear that claim is entirely false.
While smart Chinese startups will still look at what American companies are doing and build on trends, today it’s becoming a wise business practice for American tech giants to analyze Chinese companies. If you look at many new features of Facebook’s Messenger, it seems to very closely mirror TenCent’s WeChat.
Interestingly, tight government controls in China have actually spurred innovation. Take TV, for example, a highly regulated industry. Because of this regulation, most entertainment in China is consumed on the internet or by phone. Game shows, reality shows, and more will be entirely centered online.
Kai-Fu told us about one of his investments in a company that helps create Chinese singing sensations. They take girls in from a young age, school them, and regardless of talent, help build their presence and brand as singers. Once ready, these singers are pushed across all the available platforms, and superstars are born. The company recognizes its role in this superstar status, though, which is why it takes a 50 percent cut of all earnings.
This company is just one example of how Chinese entrepreneurs take advantage of China’s unique position, market, and culture.
3. China’s Artificial Intelligence Play
Kai-Fu wrapped up his talk with a brief introduction into the expansive AI industry in China. I previously discussed Face++, a Sinovation investment, which is creating radically efficient facial recognition technology. Face++ is light years ahead of anyone else globally at recognition in live videos. However, Face++ is just one of the incredible advances in AI coming out of China.
Baidu, one of China’s most valuable tech companies, started out as just a search company. However, they now run one of the country’s leading self-driving car programs.
Baidu’s goal is to create a software suite atop existing hardware that will control all self-driving aspects of a vehicle but also be able to provide additional services such as HD mapping and more.
Another interesting application came from another of Sinovation’s investments, Smart Finance Group (SFG). Given most payments are mobile (through WeChat or Alipay), only ~20 percent of the population in China have a credit history. This makes it very difficult for individuals in China to acquire a loan.
SFG’s mobile application takes in user data (as much as the user allows) and, based on the information provided, uses an AI agent to create a financial profile with the power to offer an instant loan. This loan can be deposited directly into their WeChat or Alipay account and is typically approved in minutes. Unlike American loan companies, they avoid default and long-term debt by only providing a one-month loan with 10% interest. Borrow $200, and you pay back $220 by the following month.
Artificial intelligence is exploding in China, and Kai-Fu believes it will touch every single industry.
The only constant is change, and the rate of change is constantly increasing.
In the next 10 years, we’ll see tremendous changes on the geopolitical front and the global entrepreneurial scene caused by technological empowerment.
China is an entrepreneurial hotbed that cannot be ignored. I’m monitoring it closely. Are you?
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