LOGIN JOIN SHARECAFE SIGN UP FOR OUR NEWSLETTER ADVERTISE
share cafe logo  
 
SHARECAFE COMMENTARY

When Robots & Blockchain Collide
BY KATIE JOHNSON - 15/01/2018 | VIEW MORE ARTICLES BY THE DAILY RECKONING

Stephen Hawking once warned that the rise of artificial intelligence (AI) would either be the best or worst thing to happen to humanity.

Reflecting on 2017, there’s no doubt it will go down as a breakthrough year in the field of AI.

It burst into the public consciousness and became a topic frequently debated in the media. And as mainstream interest increased, so too did innovation. Major tech companies increased their spending by 59.3% in 2017, reaching a whopping $12.5 billion.

But 2018 could be even bigger.

The International Consumer Electronics Show (CES) is currently underway in Las Vegas. And it’s already buzzing with the latest innovations in technology and artificial intelligence.

Panasonic’s newest invention is a $16,000 robot called Laundroid, which uses AI to fold laundry. The robot has a neural network of 256,000 images of different clothing items, which it uses to work out how best to fold.

Meanwhile, Samsung made the pledge to have AI built into all of their products within the next two years. That includes fridges, washing machines and ovens. Come 2020, your kitchen appliances will be able to respond to your behaviour.

This surge in AI development comes after the Chinese government vowed to become an AI superpower by 2030. China is spending millions in an attempt to overtake the US in the development of new AI tech.

You may not have noticed but the rippling effects of the AI revolution have already started to manifest themselves in various ways in your daily and working life.

As Markets & Money contributor Terence Duffy wrote on Tuesday, when a piece of AI achieves commercial success, it is, for some reason, no longer seen as artificial intelligence. Instead, as Terence says, it’s considered to be ‘a really clever piece of code or smart device.’

We have already seen this cycle of acceptance occur multiple times over the last decade. For example, you wouldn’t necessarily consider your smartphone to be artificially intelligent, even when it comes to personal assistants like Siri.

Or that an article you read online is written by artificially-intelligent writing programs.

AI reaches true success when it infiltrates your daily life unnoticed. And 2018 is set to be the year this technology truly permeates our daily lives. As president of Microsoft Asia Ralph Haupter confirmed:

I believe 2018 is the year that this will start to become mainstream, to begin to impact many aspects of our lives in a truly ubiquitous and meaningful way’.

No doubt we are eclipsing a period of rapid growth in this sector. As a result, many are starting to wake up to the dilemmas that AI may pose. There are key questions that need to be addressed. Including the changing nature of work and the protection of privacy.

With the rise of AI-embedded devices, data is proliferating and becoming more complex and personal.

How we store and transfer this mountain of data securely is already a pressing dilemma. And even the dominance of big names like Apple and IBM isn’t enough to keep the floodgates closed.

That’s why the intersection of blockchain and technology, particularly AI, will be the biggest investment theme of 2018. The revolution of the internet has long passed. The next revolution will be related to how we securely store our ever-accumulating mountain of data.

Exponential Stock Investor editor Ryan Dinse revealed the companies that he believes to be the frontrunners in this revolution in a new report. These companies are devising solutions that use blockchain technology to make our ever-connected lives safer and more efficient.



View More Articles By The Daily Reckoning

The Daily Reckoning's mission is to look at the investment world and the financial world in a sceptical and contrarian way. To do that day in and day out and tell you honestly what we see, even if it isn't always popular. If you'd like to subscribe to an alternative look at the mainstream interpretation of events, join for free here.



 

SHARECAFE VIDEO


What are the current opportunities and key risks?

More video   

RECENTLY ADDED TO SHARECAFE


 › Self Diagnosing Using Google Might Not Just Be For Hypochondriacs
 › Listen To This!
 › Has Medicine Only Just Begun?
 › What's Your Coffee Telling You?
 › CCP - Morgans rates the stock as Upgrade to Add from Hold
 › TAH - Credit Suisse rates the stock as Outperform
 › MHJ - Macquarie rates the stock as Outperform
 › Stronger USD Keeps Heat On Gold, Metals
 › Oil Rallies As OPEC Confirms Modest Output Hikes
 › Shares In Countdown To June 30
 › Diary: Local Jobs, EU Summit, US Housing
 › ASX Outshines Wall St Over The Week
 › Monday At The Open
 › Marcus Today End Of Day Report
More ShareCafe   

GET THE SHARECAFE BREAKFAST BRIEFING


Delivered free to your inbox before the market opens each trading day. Sign up below +