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#431000 Japan’s SoftBank Is Investing Billions ...
Remember the 1980s movie Brewster’s Millions, in which a minor league baseball pitcher (played by Richard Pryor) must spend $30 million in 30 days to inherit $300 million? Pryor goes on an epic spending spree for a bigger payoff down the road.
One of the world’s biggest public companies is making that film look like a weekend in the Hamptons. Japan’s SoftBank Group, led by its indefatigable CEO Masayoshi Son, is shooting to invest $100 billion over the next five years toward what the company calls the information revolution.
The newly-created SoftBank Vision Fund, with a handful of key investors, appears ready to almost single-handedly hack the technology revolution. Announced only last year, the fund had its first major close in May with $93 billion in committed capital. The rest of the money is expected to be raised this year.
The fund is unprecedented. Data firm CB Insights notes that the SoftBank Vision Fund, if and when it hits the $100 billion mark, will equal the total amount that VC-backed companies received in all of 2016—$100.8 billion across 8,372 deals globally.
The money will go toward both billion-dollar corporations and startups, with a minimum $100 million buy-in. The focus is on core technologies like artificial intelligence, robotics and the Internet of Things.
Aside from being Japan’s richest man, Son is also a futurist who has predicted the singularity, the moment in time when machines will become smarter than humans and technology will progress exponentially. Son pegs the date as 2047. He appears to be hedging that bet in the biggest way possible.
Show Me the Money
Ostensibly a telecommunications company, SoftBank Group was founded in 1981 and started investing in internet technologies by the mid-1990s. Son infamously lost about $70 billion of his own fortune after the dot-com bubble burst around 2001. The company itself has a market cap of nearly $90 billion today, about half of where it was during the heydays of the internet boom.
The ups and downs did nothing to slake the company’s thirst for technology. It has made nine acquisitions and more than 130 investments since 1995. In 2017 alone, SoftBank has poured billions into nearly 30 companies and acquired three others. Some of those investments are being transferred to the massive SoftBank Vision Fund.
SoftBank is not going it alone with the new fund. More than half of the money—$60 billion—comes via the Middle East through Saudi Arabia’s Public Investment Fund ($45 billion) and Abu Dhabi’s Mubadala Investment Company ($15 billion). Other players at the table include Apple, Qualcomm, Sharp, Foxconn, and Oracle.
During a company conference in August, Son notes the SoftBank Vision Fund is not just about making money. “We don’t just want to be an investor just for the money game,” he says through a translator. “We want to make the information revolution. To do the information revolution, you can’t do it by yourself; you need a lot of synergy.”
Off to the Races
The fund has wasted little time creating that synergy. In July, its first official investment, not surprisingly, went to a company that specializes in artificial intelligence for robots—Brain Corp. The San Diego-based startup uses AI to turn manual machines into self-driving robots that navigate their environments autonomously. The first commercial application appears to be a really smart commercial-grade version that crosses a Roomba and Zamboni.
A second investment in July was a bit more surprising. SoftBank and its fund partners led a $200 million mega-round for Plenty, an agricultural tech company that promises to reshape farming by going vertical. Using IoT sensors and machine learning, Plenty claims its urban vertical farms can produce 350 times more vegetables than a conventional farm using 1 percent of the water.
Round Two
The spending spree continued into August.
The SoftBank Vision Fund led a $1.1 billion investment into a little-known biotechnology company called Roivant Sciences that goes dumpster diving for abandoned drugs and then creates subsidiaries around each therapy. For example, Axovant Sciences is devoted to neurology while Urovant focuses on urology. TechCrunch reports that Roivant is also creating a tech-focused subsidiary, called Datavant, that will use AI for drug discovery and other healthcare initiatives, such as designing clinical trials.
The AI angle may partly explain SoftBank’s interest in backing the biggest private placement in healthcare to date.
Also in August, SoftBank Vision Fund led a mix of $2.5 billion in primary and secondary capital investments into India’s largest private company in what was touted as the largest single investment in a private Indian company. Flipkart is an e-commerce company in the mold of Amazon.
The fund tacked on a $250 million investment round in August to Kabbage, an Atlanta-based startup in the alt-lending sector for small businesses. It ended big with a $4.4 billion investment into a co-working company called WeWork.
Betterment of Humanity
And those investments only include companies that SoftBank Vision Fund has backed directly.
SoftBank the company will offer—or has already turned over—previous investments to the Vision Fund in more than a half-dozen companies. Those assets include its shares in Nvidia, which produces chips for AI applications, and its first serious foray into autonomous driving with Nauto, a California startup that uses AI and high-tech cameras to retrofit vehicles to improve driving safety. The more miles the AI logs, the more it learns about safe and unsafe driving behaviors.
Other recent acquisitions, such as Boston Dynamics, a well-known US robotics company owned briefly by Google’s parent company Alphabet, will remain under the SoftBank Group umbrella for now.
This spending spree begs the question: What is the overall vision behind the SoftBank’s relentless pursuit of technology companies? A spokesperson for SoftBank told Singularity Hub that the “common thread among all of these companies is that they are creating the foundational platforms for the next stage of the information revolution.All of the companies, he adds, share SoftBank’s criteria of working toward “the betterment of humanity.”
While the SoftBank portfolio is diverse, from agtech to fintech to biotech, it’s obvious that SoftBank is betting on technologies that will connect the world in new and amazing ways. For instance, it wrote a $1 billion check last year in support of OneWeb, which aims to launch 900 satellites to bring internet to everyone on the planet. (It will also be turned over to the SoftBank Vision Fund.)
SoftBank also led a half-billion equity investment round earlier this year in a UK company called Improbable, which employs cloud-based distributed computing to create virtual worlds for gaming. The next step for the company is massive simulations of the real world that supports simultaneous users who can experience the same environment together(and another candidate for the SoftBank Vision Fund.)
Even something as seemingly low-tech as WeWork, which provides a desk or office in locations around the world, points toward a more connected planet.
In the end, the singularity is about bringing humanity together through technology. No one said it would be easy—or cheap.
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#428053 Omnidirectional Mobile Robot Has Just ...
Spherical Induction Motor Eliminates Robot’s Mechanical Drive System
PITTSBURGH— More than a decade ago, Ralph Hollis invented the ballbot, an elegantly simple robot whose tall, thin body glides atop a sphere slightly smaller than a bowling ball. The latest version, called SIMbot, has an equally elegant motor with just one moving part: the ball.
The only other active moving part of the robot is the body itself.
The spherical induction motor (SIM) invented by Hollis, a research professor in Carnegie Mellon University’s Robotics Institute, and Masaaki Kumagai, a professor of engineering at Tohoku Gakuin University in Tagajo, Japan, eliminates the mechanical drive systems that each used on previous ballbots. Because of this extreme mechanical simplicity, SIMbot requires less routine maintenance and is less likely to suffer mechanical failures.
The new motor can move the ball in any direction using only electronic controls. These movements keep SIMbot’s body balanced atop the ball.
Early comparisons between SIMbot and a mechanically driven ballbot suggest the new robot is capable of similar speed — about 1.9 meters per second, or the equivalent of a very fast walk — but is not yet as efficient, said Greg Seyfarth, a former member of Hollis’ lab who recently completed his master’s degree in robotics.
Induction motors are nothing new; they use magnetic fields to induce electric current in the motor’s rotor, rather than through an electrical connection. What is new here is that the rotor is spherical and, thanks to some fancy math and advanced software, can move in any combination of three axes, giving it omnidirectional capability. In contrast to other attempts to build a SIM, the design by Hollis and Kumagai enables the ball to turn all the way around, not just move back and forth a few degrees.
Though Hollis said it is too soon to compare the cost of the experimental motor with conventional motors, he said long-range trends favor the technologies at its heart.
“This motor relies on a lot of electronics and software,” he explained. “Electronics and software are getting cheaper. Mechanical systems are not getting cheaper, or at least not as fast as electronics and software are.”
SIMbot’s mechanical simplicity is a significant advance for ballbots, a type of robot that Hollis maintains is ideally suited for working with people in human environments. Because the robot’s body dynamically balances atop the motor’s ball, a ballbot can be as tall as a person, but remain thin enough to move through doorways and in between furniture. This type of robot is inherently compliant, so people can simply push it out of the way when necessary. Ballbots also can perform tasks such as helping a person out of a chair, helping to carry parcels and physically guiding a person.
Until now, moving the ball to maintain the robot’s balance has relied on mechanical means. Hollis’ ballbots, for instance, have used an “inverse mouse ball” method, in which four motors actuate rollers that press against the ball so that it can move in any direction across a floor, while a fifth motor controls the yaw motion of the robot itself.
“But the belts that drive the rollers wear out and need to be replaced,” said Michael Shomin, a Ph.D. student in robotics. “And when the belts are replaced, the system needs to be recalibrated.” He said the new motor’s solid-state system would eliminate that time-consuming process.
The rotor of the spherical induction motor is a precisely machined hollow iron ball with a copper shell. Current is induced in the ball with six laminated steel stators, each with three-phase wire windings. The stators are positioned just next to the ball and are oriented slightly off vertical.
The six stators generate travelling magnetic waves in the ball, causing the ball to move in the direction of the wave. The direction of the magnetic waves can be steered by altering the currents in the stators.
Hollis and Kumagai jointly designed the motor. Ankit Bhatia, a Ph.D. student in robotics, and Olaf Sassnick, a visiting scientist from Salzburg University of Applied Sciences, adapted it for use in ballbots.
Getting rid of the mechanical drive eliminates a lot of the friction of previous ballbot models, but virtually all friction could be eliminated by eventually installing an air bearing, Hollis said. The robot body would then be separated from the motor ball with a cushion of air, rather than passive rollers.
“Even without optimizing the motor’s performance, SIMbot has demonstrated impressive performance,” Hollis said. “We expect SIMbot technology will make ballbots more accessible and more practical for wide adoption.”
The National Science Foundation and, in Japan, Grants-in-Aid for Scientific Research (KAKENHI) supported this research. A report on the work was presented at the May IEEE International Conference on Robotics and Automation in Stockholm, Sweden.
Video by: Carnegie Mellon University
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About Carnegie Mellon University: Carnegie Mellon (www.cmu.edu) is a private, internationally ranked research university with programs in areas ranging from science, technology and business, to public policy, the humanities and the arts. More than 13,000 students in the university’s seven schools and colleges benefit from a small student-to-faculty ratio and an education characterized by its focus on creating and implementing solutions for real problems, interdisciplinary collaboration and innovation.
Communications Department
Carnegie Mellon University
5000 Forbes Ave.
Pittsburgh, PA 15213
412-268-2900
Fax: 412-268-6929
Contact: Byron Spice For immediate release:
412-268-9068 October 4, 2016
bspice@cs.cmu.edu
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