(See my other posts on Robots & Automation ) – In the “Morning Brew” economic newsletter this morning was the following:
The Economist this week laid out just how quickly automation is taking over finance. Funds run by computers that follow human-set rules account for…
- 35% of the U.S. stock market
- 60% of institutional equity assets
- 60% of trading activity
Last month, exchange-traded funds (ETFs) and mutual funds automatically tracking stock and bond indices hit $4.3 trillion invested in American equities, surpassing the sum run by humans for the first time.
“Technological efficiencies” will lead to about 200,000 job cuts in the U.S. banking industry over the next decade, Wells Fargo said this week. And PwC found last year that about 30% of finance and insurance jobs in developed economies will be at risk of automation by 2029.
Too often we think of automation just affecting manufacturing jobs. It will affect many other sectors. This trend is inevitable in a worldwide economy. Industries have to stay economically competitive and automation will be essential to compete. Those who want to succeed in the workforce will need the right skills.
What skills are needed for the years ahead? (also from the “Morning Brew”)
- artificial intelligence
- machine learning
- data science
(See my other Robot related posts) – Ford Motors announced today that it will begin testing its self-driving autos in Austin. Austin will be one of three (Washington, D.C., and Miami are the other two) locations where their cars will be tested.
(See my other Robot related posts) – Boston Dynamics released another video showing more skills, this time more into the gymnastic variety. Per the Boston Dynamics’ website, Atlas is comprised of the world’s most compact hydraulic systems including custom motors, valves and a hydraulic power unit that drive its 28 hydraulic joints. The robot stands 1.5 meters tall (4.9 feet), weighs 80kg (176lbs) and moves at 1.5 meters per second (3.35mph).
The robots have come a long way since the DARPA contest a few years ago where many were falling when simply trying to walk.
(See my other Robot related posts) – Earlier this week Uber announced that their Frisco Station helipad site would be the test site for Uber Elevate. Uber Elevate is their “flying car” division. The plan, per their website, is to develop:
shared air transportation—planned for 2023—between suburbs and cities, and ultimately within cities. We’re working with our Elevate Network partners to launch fleets of small, electric VTOL (vertical takeoff and landing) aircraft in Dallas, Los Angeles, and our first international market in Melbourne.
The Frisco Station site is located on the Dallas North Tollway and is being built larger than the typical helicopter landing pad. Uber is estimating a 7 minute average flight time from the facility to their terminal at DFW.
(See my other Robot related posts) – I saw today in the Community Impact News that a driverless shuttle program has begun a pilot evaluation at Austin-Bergstrom International Airport. The Easy Mile EZ10 driverless shuttle provides service between the Terminal building and the rental car and ground transportation areas.
The EZ10 shuttle is an all-electric vehicle which was launched in 2015. The vendor claims that the EZ10 is the “most deployed driverless shuttle in the world.” Each shuttle can seat 6, with additional standing room for up to 15 passengers and operates in all weather conditions and will run up to 16 hours on a charge. While the shuttle is autonomous, an AUS attendant will be present to assist travelers and for safety purposes during the pilot phase.
(See my other Robots related articles) – I read today in Morning Brew‘s Emerging Tech Brew that:
ZipRecruiter sifted through 50 million job postings and found that in 2018, AI created 3x as many jobs as it destroyed.
It will be very interesting to see if this trend continues over the next decade.
(See my other Drone related posts) – I saw an article on food delivery by drone this morning and thought it was timely as the program at the CapMac (the Austin capital area Mac User Group) meeting I attended last night was also about drones.
If you live in San Diego, Uber Eats will be using Uber Elevate drones to deliver food beginning as early as this summer. Speculation is that the operation will begin with McDonald’s food items. Uber Elevate is not planning direct home delivery but will drop off food at designated ‘landing zones’, perhaps on the roof of an Uber Eats vehicle.
The planned service will likely take advantage of Uber Eats drivers to make the ‘final mile’ delivery of food. Uber estimates that by utilizing drones the delivery time can be cut from 21 minutes to 7 minutes on a 1.5-mile delivery. Plan implementation is still awaiting FAA approval.
Uber Eats is not the only drone delivery service that we will likely see in operation this year. Google’s Wing has already received FAA approval and plans to begin operation in Virginia this year as well.
(See my other Robot posts) – The HyQReal was developed at the Dynamic Legged Systems Lab at the Italian Institute of Technology (IIT). In the video above (uploaded to YouTube in May of 2019 by Dynamic Legged Systems lab) the robot is shown towing a 7275 lb (3300 kg) P180 Avanti aircraft.
The HyQReal is 4 ft 4.4 in (1.33 m) long and 35.5 in (90 cm) tall, and weighs 286.5 lbs (130kg). About 33 lbs (15 kg) of that weight comes from the onboard Li-Po battery that can power the HyQReal for two hours. The HyQReal is also water and dust resistant.
While most of these quadruped robots are still in the research I doubt it will be too long before we begin to see some in the field.
- Watch the HyQReal Robot Pull an Airplane
(See my other posts on Robots) – Walmart has been impacted by online sales from Amazon and other sources. As part of their cost-cutting efforts to stay competitive and improve the customer experience, they have begun deploying robots within their stores.
Walmart recently announced on their Blog (“#SquadGoals: How Automated Assistants are Helping Us Work Smarter“) that they would be deploying 1,500 new “Auto-C” autonomous floor cleaners, 300 “Auto-S” shelf scanners, and an additional 1,200 “FAST” unloaders to scan and sort items as they come off delivery trucks. To expedite online orders, Walmart will add 900 “Pickup Towers”. These will let customers order something on the company’s website and just pick up it up from a vending machine at a nearby Walmart. ”
Walmart’s stated intention with the effort is to use “pioneering new technologies to minimize the time an associate spends on the more mundane and repetitive tasks like cleaning floors or checking inventory on a shelf. This gives associates more of an opportunity to do what they’re uniquely qualified for: serve customers face-to-face on the sales floor.“.
For now, the new robots and human employees will be working side-by-side.
Robots – This week, actually it started yesterday, celebrates robotics in the US. Per the National Robotics Week website:
National Robotics Week (RoboWeek) is a series of grassroots events and activities during the month of April aimed at increasing public awareness of the strength and importance of the U.S. robotics industry and of the tremendous social and cultural impact that robotics will have on the future. Activities come in all shapes and sizes from a robot block party, university open house, or a robotics competition. The mission of RoboWeek is simple — to inspire students in STEM-related fields and to share the excitement of robotics with audiences of all ages. Celebrate RoboWeek by hosting an event in your community, sponsoring or attending a local event, or spreading the word on social media.
National Robotics Week was first celebrated in 2010 after university and industry leaders appealed to the Congressional Caucus on Robotics to create a “national roadmap” for robotics technology. On March 9, 2010, the U.S. House of Representatives passed resolution H.Res. 1055, officially designating the second full week in April as National Robotics Week.