Across all sectors, organizations are grappling with rapid transformation. On top of that, there are enormous global shifts and challenges to contend with, such as climate change, and shifting political and economic power. To put it bluntly, our world is changing fast. And organizations must learn to adapt accordingly.
These eight major trends provide a snapshot of how business operations are evolving to suit our rapidly changing world.
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This rolling sheet of solar panels may not look like much, but it could help spark a solar power revolution in the railroad industry.
The creators of the solar-powered locomotive of the future were aiming to set a Guinness record for speed last weekend, and that is more than just your ordinary attention-getting stunt. Demonstrating the functionality of PV panels on rail cars could help set the stage for solar power to knock diesel fuel out of the railroad business. No word yet on the official results, but solar is beginning to wiggle its way into a field dominated by fossil fuel.
The Solar Train Of The Future Hits The Tracks, With Only Solar Power
When people say “solar train,” they usually mean a battery-powered train charged by solar panels parked in a solar farm, such as the UK’s Riding Sunbeams project. In other words, the solar power is there, but it is not actually along for the ride.
The new world of work is also about a new kind of teamwork: humans and AI working together to achieve more than they can accomplish on their own. Regardless of its recent progress, AI is still not accurate enough to meet the enterprise-level requirements of speech-to-text in many industries. “If technology gives me 90% accuracy, humans can deal with the last mile. Human-in-the-loop is core to our product,” explains Livne. In addition to developing the required technology, Ver… See more.
Verbit is a very successful startup. The 4-year-old developer of an AI-powered transcription and captioning platform has reached unicorn status in June, raising $157 million at a valuation of over $1 billion, for a total of $319 million raised to date. It has 2,600 customers, 450 employees, and will reach $100 million in revenues by the end of the year. According to co-founder and CEO Tom Livne, Veribit enjoys Net Revenue Retention (the rate of revenue generation from existing customers) of 163%. “Our customers are growing with us,” says Livne.
This impressive performance is the result of executing on a well thought-out framework for what it will take to succeed in the future, no matter what business you are in and the market you are serving. Verbit’s technology foundation, its global community of freelancers, and its mass customization strategy are the three features of Verbit’s future of work model, the very model of a 21 st century company.
Posted in business, life extension
As tech titans invest in the quest to extend our lives, Anjana Ahuja asks if longer lifespans are at last possible — and at what cost.
News, analysis and comment from the Financial Times, the worldʼs leading global business publication.
So would the private station be a viable replacement for the ISS? The ageing station, which is a partnership between the US, Russia and other nations, is only funded until 2,024 with a 2028 extension looking probable, but it cannot last forever.
Blue Origin says its space station will be fully operational in the late 2020s, but deadline slippage is common when it comes to huge space-related projects like this one. “They can dream of being fully operational in the late 2020s, but in the space sector they often aim for aspirational targets and if they miss it by a year or two or three then they at least have something they’re aiming for until then,” says space analyst Laura Forczyk. “It’s almost inevitable that things take longer and are more expensive than planned.”
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Blue Origin, the space-flight firm owned by Amazon founder Jeff Bezos, is planning to build a space station – with the hopes that it could replace the International Space Station (ISS), which is reaching the end of its life.
The final humorous argument I have is if one example is really a robot. Aylett and Vargas describe a “robot” as a humanoid machine that doesn’t manipulate anything. It just provides information at a shopping center. How does that fit into their own definition of a robot? It sounds more like an overgrown tablet computer with wheels. However, that’s a fun argument having nothing to do with the business value of whatever you want to call it.
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This is a review of the third book sent to me recently by MIT Press, and the book is the best of the bunch. “Living With Robots,” by Ruth Aylett and Patricia A. Vargas is a good, non-technical book that discusses a number of issues with robots in human society. This is excellent for both business managers and those more generally interested in both the promise and reality of robots in society.
One exam of the accessibility of the material is in chapter 8 where there’s a discussion on reinforcement learning. There are good theoretical examples and how reinforcement learning has risks in the real world. I really liked the part where the authors discuss blending simulation and real world testing.
Facebook’s response, however, isn’t about how it should change its business model. Instead of any degree of self-awareness, the company has decided it’s going to push back on its critics and try to change the subject. Facebook isn’t actually trying to change any of the things that are wrong with Facebook.
Zuckerberg did talk a lot about the metaverse and said he plans to give more details later this week at Connect, the company’s developer conference.
To be fair, Zuckerberg did say that the company is “on track to spend more than $5 billion on safety and security in 2021.” That might sound impressive, but considering the company made $115 billion in the last 12 months, it’s barely anything. It’s only half of what Facebook says it plans to spend on building the metaverse.
We might be witnessing the start of the private space station race.
Dare we say that a new type of space race is heating up? Blue Origin, the space tourism firm founded by billionaire Amazon founder Jeff Bezos, announced a partnership with Sierra Space and Boeing to build and launch a commercial space station called Orbital Reef by the end of the decade, a press statement reveals.
If Lockheed Martin and Nanoracks have their way, Orbital Reef won’t be the first commercial orbital outpost in low Earth orbit, as the two firms are collaborating to launch their own station by 2027.
Over the past few years, the business world has increasingly turned towards intelligent solutions to help cope with the changing digital landscape. Artificial intelligence (AI) enables devices and things to perceive, reason and act intuitively—mimicking the human brain, without being hindered by human subjectivity, ego and routine interruptions. The technology has the potential to greatly expand our capabilities, bringing added speed, efficiency and precision for tasks both complex and mundane.
To get a picture of the momentum behind AI, the global artificial intelligence market was valued at $62.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 40.2% from 2021 to 2028. Given this projection, it’s not surprising that tech giants such as AWS, IBM, Google and Qualcomm have all made significant investments into AI research, development, disparate impact testing and auditing.
My coverage area of expertise, fintech (financial technology), is no exception to this trend. The AI market for fintech alone is valued at an estimated $8 Billion and is projected to reach upwards of $27 Billion in the next five years. AI and machine learning (ML) have penetrated almost every facet of the space, from customer-facing functions to back-end processes. Let’s take a closer look at these changing dynamics.
The COVID-19 crisis led to fundamental changes in how we conduct business. The big question today is whether these innovations will be sustained and built upon after the crisis.
