Tag Archives: vehicle

#435110 5 Coming Breakthroughs in Energy and ...

The energy and transportation industries are being aggressively disrupted by converging exponential technologies.

In just five days, the sun provides Earth with an energy supply exceeding all proven reserves of oil, coal, and natural gas. Capturing just 1 part in 8,000 of this available solar energy would allow us to meet 100 percent of our energy needs.

As we leverage renewable energy supplied by the sun, wind, geothermal sources, and eventually fusion, we are rapidly heading towards a future where 100 percent of our energy needs will be met by clean tech in just 30 years.

During the past 40 years, solar prices have dropped 250-fold. And as these costs plummet, solar panel capacity continues to grow exponentially.

On the heels of energy abundance, we are additionally witnessing a new transportation revolution, which sets the stage for a future of seamlessly efficient travel at lower economic and environmental costs.

Top 5 Transportation Breakthroughs (2019-2024)
Entrepreneur and inventor Ramez Naam is my go-to expert on all things energy and environment. Currently serving as the Energy Co-Chair at Singularity University, Naam is the award-winning author of five books, including the Nexus series of science fiction novels. Having spent 13 years at Microsoft, his software has touched the lives of over a billion people. Naam holds over 20 patents, including several shared with co-inventor Bill Gates.

In the next five years, he forecasts five respective transportation and energy trends, each poised to disrupt major players and birth entirely new business models.

Let’s dive in.

Autonomous cars drive 1 billion miles on US roads. Then 10 billion

Alphabet’s Waymo alone has already reached 10 million miles driven in the US. The 600 Waymo vehicles on public roads drive a total of 25,000 miles each day, and computer simulations provide an additional 25,000 virtual cars driving constantly. Since its launch in December, the Waymo One service has transported over 1,000 pre-vetted riders in the Phoenix area.

With more training miles, the accuracy of these cars continues to improve. Since last year, GM Cruise has improved its disengagement rate by 321 percent since last year, trailing close behind with only one human intervention per 5,025 miles self-driven.

Autonomous taxis as a service in top 20 US metro areas

Along with its first quarterly earnings released last week, Lyft recently announced that it would expand its Waymo partnership with the upcoming deployment of 10 autonomous vehicles in the Phoenix area. While individuals previously had to partake in Waymo’s “early rider program” prior to trying Waymo One, the Lyft partnership will allow anyone to ride in a self-driving vehicle without a prior NDA.

Strategic partnerships will grow increasingly essential between automakers, self-driving tech companies, and rideshare services. Ford is currently working with Volkswagen, and Nvidia now collaborates with Daimler (Mercedes) and Toyota. Just last week, GM Cruise raised another $1.15 billion at a $19 billion valuation as the company aims to launch a ride-hailing service this year.

“They’re going to come to the Bay Area, Los Angeles, Houston, other cities with relatively good weather,” notes Naam. “In every major city within five years in the US and in some other parts of the world, you’re going to see the ability to hail an autonomous vehicle as a ride.”

Cambrian explosion of vehicle formats

Naam explains, “If you look today at the average ridership of a taxi, a Lyft, or an Uber, it’s about 1.1 passengers plus the driver. So, why do you need a large four-seater vehicle for that?”

Small electric, autonomous pods that seat as few as two people will begin to emerge, satisfying the majority of ride-hailing demands we see today. At the same time, larger communal vehicles will appear, such as Uber Express, that will undercut even the cheapest of transportation methods—buses, trams, and the like. Finally, last-mile scooter transit (or simply short-distance walks) might connect you to communal pick-up locations.

By 2024, an unimaginably diverse range of vehicles will arise to meet every possible need, regardless of distance or destination.

Drone delivery for lightweight packages in at least one US city

Wing, the Alphabet drone delivery startup, recently became the first company to gain approval from the Federal Aviation Administration (FAA) to make deliveries in the US. Having secured approval to deliver to 100 homes in Canberra, Australia, Wing additionally plans to begin delivering goods from local businesses in the suburbs of Virginia.

The current state of drone delivery is best suited for lightweight, urgent-demand payloads like pharmaceuticals, thumb drives, or connectors. And as Amazon continues to decrease its Prime delivery times—now as speedy as a one-day turnaround in many cities—the use of drones will become essential.

Robotic factories drive onshoring of US factories… but without new jobs

The supply chain will continue to shorten and become more agile with the re-onshoring of manufacturing jobs in the US and other countries. Naam reasons that new management and software jobs will drive this shift, as these roles develop the necessary robotics to manufacture goods. Equally as important, these robotic factories will provide a more humane setting than many of the current manufacturing practices overseas.

Top 5 Energy Breakthroughs (2019-2024)

First “1 cent per kWh” deals for solar and wind signed

Ten years ago, the lowest price of solar and wind power fell between 10 to 12 cents per kilowatt hour (kWh), over twice the price of wholesale power from coal or natural gas.

Today, the gap between solar/wind power and fossil fuel-generated electricity is nearly negligible in many parts of the world. In G20 countries, fossil fuel electricity costs between 5 to 17 cents per kWh, while the average cost per kWh of solar power in the US stands at under 10 cents.

Spanish firm Solarpack Corp Technological recently won a bid in Chile for a 120 MW solar power plant supplying energy at 2.91 cents per kWh. This deal will result in an estimated 25 percent drop in energy costs for Chilean businesses by 2021.

Naam indicates, “We will see the first unsubsidized 1.0 cent solar deals in places like Chile, Mexico, the Southwest US, the Middle East, and North Africa, and we’ll see similar prices for wind in places like Mexico, Brazil, and the US Great Plains.”

Solar and wind will reach >15 percent of US electricity, and begin to drive all growth

Just over eight percent of energy in the US comes from solar and wind sources. In total, 17 percent of American energy is derived from renewable sources, while a whopping 63 percent is sourced from fossil fuels, and 17 percent from nuclear.

Last year in the U.K., twice as much energy was generated from wind than from coal. For over a week in May, the U.K. went completely coal-free, using wind and solar to supply 35 percent and 21 percent of power, respectively. While fossil fuels remain the primary electricity source, this week-long experiment highlights the disruptive potential of solar and wind power that major countries like the U.K. are beginning to emphasize.

“Solar and wind are still a relatively small part of the worldwide power mix, only about six percent. Within five years, it’s going to be 15 percent in the US and more than close to that worldwide,” Naam predicts. “We are nearing the point where we are not building any new fossil fuel power plants.”

It will be cheaper to build new solar/wind/batteries than to run on existing coal

Last October, Northern Indiana utility company NIPSCO announced its transition from a 65 percent coal-powered state to projected coal-free status by 2028. Importantly, this decision was made purely on the basis of financials, with an estimated $4 billion in cost savings for customers. The company has already begun several initiatives in solar, wind, and batteries.

NextEra, the largest power generator in the US, has taken on a similar goal, making a deal last year to purchase roughly seven million solar panels from JinkoSolar over four years. Leading power generators across the globe have vocalized a similar economic case for renewable energy.

ICE car sales have now peaked. All car sales growth will be electric

While electric vehicles (EV) have historically been more expensive for consumers than internal combustion engine-powered (ICE) cars, EVs are cheaper to operate and maintain. The yearly cost of operating an EV in the US is about $485, less than half the $1,117 cost of operating a gas-powered vehicle.

And as battery prices continue to shrink, the upfront costs of EVs will decline until a long-term payoff calculation is no longer required to determine which type of car is the better investment. EVs will become the obvious choice.

Many experts including Naam believe that ICE-powered vehicles peaked worldwide in 2018 and will begin to decline over the next five years, as has already been demonstrated in the past five months. At the same time, EVs are expected to quadruple their market share to 1.6 percent this year.

New storage technologies will displace Li-ion batteries for tomorrow’s most demanding applications

Lithium ion batteries have dominated the battery market for decades, but Naam anticipates new storage technologies will take hold for different contexts. Flow batteries, which can collect and store solar and wind power at large scales, will supply city grids. Already, California’s Independent System Operator, the nonprofit that maintains the majority of the state’s power grid, recently installed a flow battery system in San Diego.

Solid-state batteries, which consist of entirely solid electrolytes, will supply mobile devices in cars. A growing body of competitors, including Toyota, BMW, Honda, Hyundai, and Nissan, are already working on developing solid-state battery technology. These types of batteries offer up to six times faster charging periods, three times the energy density, and eight years of added lifespan, compared to lithium ion batteries.

Final Thoughts
Major advancements in transportation and energy technologies will continue to converge over the next five years. A case in point, Tesla’s recent announcement of its “robotaxi” fleet exemplifies the growing trend towards joint priority of sustainability and autonomy.

On the connectivity front, 5G and next-generation mobile networks will continue to enable the growth of autonomous fleets, many of which will soon run on renewable energy sources. This growth demands important partnerships between energy storage manufacturers, automakers, self-driving tech companies, and ridesharing services.

In the eco-realm, increasingly obvious economic calculi will catalyze consumer adoption of autonomous electric vehicles. In just five years, Naam predicts that self-driving rideshare services will be cheaper than owning a private vehicle for urban residents. And by the same token, plummeting renewable energy costs will make these fuels far more attractive than fossil fuel-derived electricity.

As universally optimized AI systems cut down on traffic, aggregate time spent in vehicles will decimate, while hours in your (or not your) car will be applied to any number of activities as autonomous systems steer the way. All the while, sharing an electric vehicle will cut down not only on your carbon footprint but on the exorbitant costs swallowed by your previous SUV. How will you spend this extra time and money? What new natural resources will fuel your everyday life?

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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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#434755 This Week’s Awesome Stories From ...

ARTIFICIAL INTELLIGENCE
DeepMind and Google: The Battle to Control Artificial Intelligence
Hal Hodson | 1843
“Hassabis thought DeepMind would be a hybrid: it would have the drive of a startup, the brains of the greatest universities, and the deep pockets of one of the world’s most valuable companies. Every element was in place to hasten the arrival of AGI and solve the causes of human misery.”

ROBOTICS
Robot Valets Are Now Parking Cars in One of France’s Busiest Airports
James Vincent | The Verge
“Stanley Robotics say its system uses space much more efficiently than humans, fitting 50 percent more cars into the same area. This is thanks in part to the robots’ precision driving, but also because the system keeps track of when customers will return. This means the robots can park cars three or four deep, but then dig out the right vehicle ready for its owner’s return.”

COMPUTING
Quantum Computing Should Supercharge This Machine-Learning Technique
Will Knight | MIT Technology Review
“Quantum computing and artificial intelligence are both hyped ridiculously. But it seems a combination of the two may indeed combine to open up new possibilities.”

BIOTECH
Scientists Reawaken Cells From a 28,000-Year-Old Mammoth
Becky Ferreira | Motherboard
“Yuka the woolly mammoth died a long time ago, but scientists gave her cells a short second life in mouse egg cells.”

ETHICS
CRISPR Experts Are Calling for a Global Moratorium on Heritable Gene Editing
Niall Firth | MIT Technology Review
“We still don’t know what the majority of our genes do, so the risks of unintended consequences or so-called off-target effects—good or bad—are huge. …Changes in a genome might have unforeseen outcomes in future generations as well. ‘Attempting to reshape the species on the basis of our current state of knowledge would be hubris,’ the letter reads.”

GENETICS
Unleash the Full Potential of the Human Genome Project
Paul Glimcher | The Hill
“So how do the risks embedded in our genes become the diseases, the so-called phenotypes, we seek to cure or prevent? …It is not just nature, but also nurture, which leads to disease. This is something that we have known for centuries, but which we seem to have conveniently forgotten in our rush to embrace the technology of genetics. In 1990 the only thing we could measure comprehensively was genetics, so we did it. But why did we stop there?”

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#434685 How Tech Will Let You Learn Anything, ...

Today, over 77 percent of Americans own a smartphone with access to the world’s information and near-limitless learning resources.

Yet nearly 36 million adults in the US are constrained by low literacy skills, excluding them from professional opportunities, prospects of upward mobility, and full engagement with their children’s education.

And beyond its direct impact, low literacy rates affect us all. Improving literacy among adults is predicted to save $230 billion in national healthcare costs and could result in US labor productivity increases of up to 2.5 percent.

Across the board, exponential technologies are making demonetized learning tools, digital training platforms, and literacy solutions more accessible than ever before.

With rising automation and major paradigm shifts underway in the job market, these tools not only promise to make today’s workforce more versatile, but could play an invaluable role in breaking the poverty cycles often associated with low literacy.

Just three years ago, the Barbara Bush Foundation for Family Literacy and the Dollar General Literacy Foundation joined forces to tackle this intractable problem, launching a $7 million Adult Literacy XPRIZE.

Challenging teams to develop smartphone apps that significantly increase literacy skills among adult learners in just 12 months, the competition brought five prize teams to the fore, each targeting multiple demographics across the nation.

Now, after four years of research, prototyping, testing, and evaluation, XPRIZE has just this week announced two grand prize winners: Learning Upgrade and People ForWords.

In this blog, I’ll be exploring the nuts and bolts of our two winning teams and how exponential technologies are beginning to address rapidly shifting workforce demands.

We’ll discuss:

Meeting 100 percent adult literacy rates
Retooling today’s workforce for tomorrow’s job market
Granting the gift of lifelong learning

Let’s dive in.

Adult Literacy XPRIZE
Emphasizing the importance of accessible mediums and scalability, the Adult Literacy XPRIZE called for teams to create mobile solutions that lower the barrier to entry, encourage persistence, develop relevant learning content, and can scale nationally.

Outperforming the competition in two key demographic groups in aggregate—native English speakers and English language learners—teams Learning Upgrade and People ForWords together claimed the prize.

To win, both organizations successfully generated the greatest gains between a pre- and post-test, administered one year apart to learners in a 12-month field test across Los Angeles, Dallas, and Philadelphia.

Prize money in hand, Learning Upgrade and People ForWords are now scaling up their solutions, each targeting a key demographic in America’s pursuit of adult literacy.

Based in San Diego, Learning Upgrade has developed an Android and iOS app that helps students learn English and math through video, songs, and gamification. Offering a total of 21 courses from kindergarten through adult education, Learning Upgrade touts a growing platform of over 900 lessons spanning English, reading, math, and even GED prep.

To further personalize each student’s learning, Learning Upgrade measures time-on-task and builds out formative performance assessments, granting teachers a quantified, real-time view of each student’s progress across both lessons and criteria.

Specialized in English reading skills, Dallas-based People ForWords offers a similarly delocalized model with its mobile game “Codex: Lost Words of Atlantis.” Based on an archaeological adventure storyline, the app features an immersive virtual environment.

Set in the Atlantis Library (now with a 3D rendering underway), Codex takes its students through narrative-peppered lessons covering everything from letter-sound practice to vocabulary reinforcement in a hidden object game.

But while both mobile apps have recruited initial piloting populations, the key to success is scale.

Using a similar incentive prize competition structure to drive recruitment, the second phase of the XPRIZE is a $1 million Barbara Bush Foundation Adult Literacy XPRIZE Communities Competition. For 15 months, the competition will challenge organizations, communities, and individuals alike to onboard adult learners onto both prize-winning platforms and fellow finalist team apps, AmritaCREATE and Cell-Ed.

Each awarded $125,000 for participation in the Communities Competition, AmritaCREATE and Cell-Ed bring yet other nuanced advantages to the table.

While AmritaCREATE curates culturally appropriate e-content relevant to given life skills, Cell-Ed takes a learn-on-the-go approach, offering micro-lessons, on-demand essential skills training, and individualized coaching on any mobile device, no internet required.

Although all these cases target slightly different demographics and problem niches, they converge upon common phenomena: mobility, efficiency, life skill relevance, personalized learning, and practicability.

And what better to scale these benefits than AI and immersive virtual environments?

In the case of education’s growing mobility, 5G and the explosion of connectivity speeds will continue to drive a learn-anytime-anywhere education model, whereby adult users learn on the fly, untethered to web access or rigid time strictures.

As I’ve explored in a previous blog on AI-crowd collaboration, we might also see the rise of AI learning consultants responsible for processing data on how you learn.

Quantifying and analyzing your interaction with course modules, where you get stuck, where you thrive, and what tools cause you ease or frustration, each user’s AI trainer might then issue personalized recommendations based on crowd feedback.

Adding a human touch, each app’s hired teaching consultants would thereby be freed to track many more students’ progress at once, vetting AI-generated tips and adjustments, and offering life coaching along the way.

Lastly, virtual learning environments—and, one day, immersive VR—will facilitate both speed and retention, two of the most critical constraints as learners age.

As I often reference, people generally remember only 10 percent of what we see, 20 percent of what we hear, and 30 percent of what we read…. But over a staggering 90 percent of what we do or experience.

By introducing gamification, immersive testing activities, and visually rich sensory environments, adult literacy platforms have a winning chance at scalability, retention, and user persistence.

Exponential Tools: Training and Retooling a Dynamic Workforce
Beyond literacy, however, virtual and augmented reality have already begun disrupting the professional training market.

As projected by ABI Research, the enterprise VR training market is on track to exceed $6.3 billion in value by 2022.

Leading the charge, Walmart has already implemented VR across 200 Academy training centers, running over 45 modules and simulating everything from unusual customer requests to a Black Friday shopping rush.

Then in September of last year, Walmart committed to a 17,000-headset order of the Oculus Go to equip every US Supercenter, neighborhood market, and discount store with VR-based employee training.

In the engineering world, Bell Helicopter is using VR to massively expedite development and testing of its latest aircraft, FCX-001. Partnering with Sector 5 Digital and HTC VIVE, Bell found it could concentrate a typical six-year aircraft design process into the course of six months, turning physical mockups into CAD-designed virtual replicas.

But beyond the design process itself, Bell is now one of a slew of companies pioneering VR pilot tests and simulations with real-world accuracy. Seated in a true-to-life virtual cockpit, pilots have now tested countless iterations of the FCX-001 in virtual flight, drawing directly onto the 3D model and enacting aircraft modifications in real time.

And in an expansion of our virtual senses, several key players are already working on haptic feedback. In the case of VR flight, French company Go Touch VR is now partnering with software developer FlyInside on fingertip-mounted haptic tech for aviation.

Dramatically reducing time and trouble required for VR-testing pilots, they aim to give touch-based confirmation of every switch and dial activated on virtual flights, just as one would experience in a full-sized cockpit mockup. Replicating texture, stiffness, and even the sensation of holding an object, these piloted devices contain a suite of actuators to simulate everything from a light touch to higher-pressured contact, all controlled by gaze and finger movements.

When it comes to other high-risk simulations, virtual and augmented reality have barely scratched the surface.
Firefighters can now combat virtual wildfires with new platforms like FLAIM Trainer or TargetSolutions. And thanks to the expansion of medical AR/VR services like 3D4Medical or Echopixel, surgeons might soon perform operations on annotated organs and magnified incision sites, speeding up reaction times and vastly improving precision.

But perhaps most urgently, virtual reality will offer an immediate solution to today’s constant industry turnover and large-scale re-education demands.

VR educational facilities with exact replicas of anything from large industrial equipment to minute circuitry will soon give anyone a second chance at the 21st-century job market.

Want to become an electric, autonomous vehicle mechanic at age 44? Throw on a demonetized VR module and learn by doing, testing your prototype iterations at almost zero cost and with no risk of harming others.

Want to be a plasma physicist and play around with a virtual nuclear fusion reactor? Now you’ll be able to simulate results and test out different tweaks, logging Smart Educational Record credits in the process.

As tomorrow’s career model shifts from a “one-and-done graduate degree” to continuous lifelong education, professional VR-based re-education will allow for a continuous education loop, reducing the barrier to entry for anyone wanting to try their hand at a new industry.

Learn Anything, Anytime, at Any Age
As VR and artificial intelligence converge with demonetized mobile connectivity, we are finally witnessing an era in which no one will be left behind.

Whether in pursuit of fundamental life skills, professional training, linguistic competence, or specialized retooling, users of all ages, career paths, income brackets, and goals are now encouraged to be students, no longer condemned to stagnancy.

Traditional constraints need no longer prevent non-native speakers from gaining an equal foothold, or specialists from pivoting into new professions, or low-income parents from staking new career paths.

As exponential technologies drive democratized access, bolstering initiatives such as the Barbara Bush Foundation Adult Literacy XPRIZE are blazing the trail to make education a scalable priority for all.

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#434673 The World’s Most Valuable AI ...

It recognizes our faces. It knows the videos we might like. And it can even, perhaps, recommend the best course of action to take to maximize our personal health.

Artificial intelligence and its subset of disciplines—such as machine learning, natural language processing, and computer vision—are seemingly becoming integrated into our daily lives whether we like it or not. What was once sci-fi is now ubiquitous research and development in company and university labs around the world.

Similarly, the startups working on many of these AI technologies have seen their proverbial stock rise. More than 30 of these companies are now valued at over a billion dollars, according to data research firm CB Insights, which itself employs algorithms to provide insights into the tech business world.

Private companies with a billion-dollar valuation were so uncommon not that long ago that they were dubbed unicorns. Now there are 325 of these once-rare creatures, with a combined valuation north of a trillion dollars, as CB Insights maintains a running count of this exclusive Unicorn Club.

The subset of AI startups accounts for about 10 percent of the total membership, growing rapidly in just 4 years from 0 to 32. Last year, an unprecedented 17 AI startups broke the billion-dollar barrier, with 2018 also a record year for venture capital into private US AI companies at $9.3 billion, CB Insights reported.

What exactly is all this money funding?

AI Keeps an Eye Out for You
Let’s start with the bad news first.

Facial recognition is probably one of the most ubiquitous applications of AI today. It’s actually a decades-old technology often credited to a man named Woodrow Bledsoe, who used an instrument called a RAND tablet that could semi-autonomously match faces from a database. That was in the 1960s.

Today, most of us are familiar with facial recognition as a way to unlock our smartphones. But the technology has gained notoriety as a surveillance tool of law enforcement, particularly in China.

It’s no secret that the facial recognition algorithms developed by several of the AI unicorns from China—SenseTime, CloudWalk, and Face++ (also known as Megvii)—are used to monitor the country’s 1.3 billion citizens. Police there are even equipped with AI-powered eyeglasses for such purposes.

A fourth billion-dollar Chinese startup, Yitu Technologies, also produces a platform for facial recognition in the security realm, and develops AI systems in healthcare on top of that. For example, its CARE.AITM Intelligent 4D Imaging System for Chest CT can reputedly identify in real time a variety of lesions for the possible early detection of cancer.

The AI Doctor Is In
As Peter Diamandis recently noted, AI is rapidly augmenting healthcare and longevity. He mentioned another AI unicorn from China in this regard—iCarbonX, which plans to use machines to develop personalized health plans for every individual.

A couple of AI unicorns on the hardware side of healthcare are OrCam Technologies and Butterfly. The former, an Israeli company, has developed a wearable device for the vision impaired called MyEye that attaches to one’s eyeglasses. The device can identify people and products, as well as read text, conveying the information through discrete audio.

Butterfly Network, out of Connecticut, has completely upended the healthcare market with a handheld ultrasound machine that works with a smartphone.

“Orcam and Butterfly are amazing examples of how machine learning can be integrated into solutions that provide a step-function improvement over state of the art in ultra-competitive markets,” noted Andrew Byrnes, investment director at Comet Labs, a venture capital firm focused on AI and robotics, in an email exchange with Singularity Hub.

AI in the Driver’s Seat
Comet Labs’ portfolio includes two AI unicorns, Megvii and Pony.ai.

The latter is one of three billion-dollar startups developing the AI technology behind self-driving cars, with the other two being Momenta.ai and Zoox.

Founded in 2016 near San Francisco (with another headquarters in China), Pony.ai debuted its latest self-driving system, called PonyAlpha, last year. The platform uses multiple sensors (LiDAR, cameras, and radar) to navigate its environment, but its “sensor fusion technology” makes things simple by choosing the most reliable sensor data for any given driving scenario.

Zoox is another San Francisco area startup founded a couple of years earlier. In late 2018, it got the green light from the state of California to be the first autonomous vehicle company to transport a passenger as part of a pilot program. Meanwhile, China-based Momenta.ai is testing level four autonomy for its self-driving system. Autonomous driving levels are ranked zero to five, with level five being equal to a human behind the wheel.

The hype around autonomous driving is currently in overdrive, and Byrnes thinks regulatory roadblocks will keep most self-driving cars in idle for the foreseeable future. The exception, he said, is China, which is adopting a “systems” approach to autonomy for passenger transport.

“If [autonomous mobility] solves bigger problems like traffic that can elicit government backing, then that has the potential to go big fast,” he said. “This is why we believe Pony.ai will be a winner in the space.”

AI in the Back Office
An AI-powered technology that perhaps only fans of the cult classic Office Space might appreciate has suddenly taken the business world by storm—robotic process automation (RPA).

RPA companies take the mundane back office work, such as filling out invoices or processing insurance claims, and turn it over to bots. The intelligent part comes into play because these bots can tackle unstructured data, such as text in an email or even video and pictures, in order to accomplish an increasing variety of tasks.

Both Automation Anywhere and UiPath are older companies, founded in 2003 and 2005, respectively. However, since just 2017, they have raised nearly a combined $1 billion in disclosed capital.

Cybersecurity Embraces AI
Cybersecurity is another industry where AI is driving investment into startups. Sporting imposing names like CrowdStrike, Darktrace, and Tanium, these cybersecurity companies employ different machine-learning techniques to protect computers and other IT assets beyond the latest software update or virus scan.

Darktrace, for instance, takes its inspiration from the human immune system. Its algorithms can purportedly “learn” the unique pattern of each device and user on a network, detecting emerging problems before things spin out of control.

All three companies are used by major corporations and governments around the world. CrowdStrike itself made headlines a few years ago when it linked the hacking of the Democratic National Committee email servers to the Russian government.

Looking Forward
I could go on, and introduce you to the world’s most valuable startup, a Chinese company called Bytedance that is valued at $75 billion for news curation and an app to create 15-second viral videos. But that’s probably not where VC firms like Comet Labs are generally putting their money.

Byrnes sees real value in startups that are taking “data-driven approaches to problems specific to unique industries.” Take the example of Chicago-based unicorn Uptake Technologies, which analyzes incoming data from machines, from wind turbines to tractors, to predict problems before they occur with the machinery. A not-yet unicorn called PingThings in the Comet Labs portfolio does similar predictive analytics for the energy utilities sector.

“One question we like asking is, ‘What does the state of the art look like in your industry in three to five years?’” Byrnes said. “We ask that a lot, then we go out and find the technology-focused teams building those things.”

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