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Creating Generational Legacies

Thursday, April 5, 2018

The UAE and the new economy

The Bob Pritchard Column 

Donald Trump is right.  Even our best airports are very ordinary compared to those overseas, our infrastructure is decaying and we have no forward vision. 
 
A couple of years ago, I did a 10 city speaking tour to MBA graduates in Iran.  It was a fabulous experience.  Not at all what I was led to believe by western media.  What I found in Iran was that 70% of university graduates in science, technology, engineering and mathematics (STEM) are women—a higher percentage than in any other country. Nearby Oman, Saudi Arabia, and the United Arab Emirates (UAE) each boast over 60% female graduates in science, still more of the rest of the world.  Over a third of STEM trained talent across the Muslim world is female.  In the United States that number is near 30%.
 
 
We are falling behind in areas we once led.  The Middle East is rapidly turning into a futuristic zone, a model hub for business and a delight for residents.  They are leading in so many areas, from web speeds, to the Hyperloop to flying taxis. Advances in Healthcare technology are also dramatic
 
Saudi Arabia has now announced that the kingdom will build the world’s largest hi-tech solar plant project. The project, which will see $200 billion invested in the next few years, will consist of a ‘series of solar parks’ throughout Saudi Arabia. Final generation capacity will be 200 gigawatts, which would be enough to power 150 million homes. With total households of 5.4 million, Saudi Arabia expects to sell over 90% the generated electricity to neighbors. The future needs of the planned new ‘smart’ mega city NEOM, on the shores of the Red Sea may also be integral to the scale of the project. 
 
NEOM is a $500 billion technology mega-city measuring 10,230 square miles, 33 times the size of New York City.  NEOM will run on 100% renewable energy and will connect to Jordan and Egypt.  Under the leadership of bin Salman, Saudi Arabia is embarking upon a series of hugely ambitious projects designed to wean the kingdom’s economy off its reliance on oil. It’s the world’s largest exporter and also holds the largest easy access reserves.
 
It is projected that the solar parks will save Saudi Arabia $40 billion a year in electricity generation expenses and create 100,000 new jobs. A first $5 billion phase of the project will start this year with completion in 2019 and be expected to have a generation capacity of 7.2 gigawatts of power. The kingdom is rapidly transforming from an economy wholly dependent on oil into a private sector-fuelled tech-focused modern economy. A domestic industry around solar power technology and the manufacture of photovoltaic panels is expected to spring up around the colossal project. We are still focused on coal.
 
Power storage technology R&D is also planned and a key component to how quickly global energy infrastructure will transition to renewable sources.
 
 We can no longer rest on our laurels, we need a pretty dramatic change in thinking.

Wednesday, March 28, 2018

Artificial Intelligence: What Educators Need to Know

 Education Week 

Editor's Note: This Commentary is part of a special report exploring game-changing trends and innovations that have the potential to shake up the schoolhouse.
Read the full report:
 10 Big Ideas in Education

Artificial intelligence is a rapidly emerging technology that has the potential to change our everyday lives with a scope and speed that humankind has never experienced before. Some well-known technology leaders such as Tesla architect Elon Musk consider AI a potential threat to humanity and have pushed for its regulation "before it's too late"—an alarmist statement that confuses AI science with science fiction. What is the reality behind these concerns, and how can educators best prepare for a future with artificial intelligence as an inevitable part of our lives? 

General, widespread legislative regulation of AI is not going to be the right way to prepare our society for these changes. The AI field is already humming with a wide variety of new research at an international scale, such that blindly constraining AI research in its early days in the United States would only serve to put us behind the global curve in developing the most important technology of the future. It is also worth noting that there are many applications of AI currently under development that have huge potential benefits for humanity in the fields of medicine, security, finance, and personal services; we would risk a high human and economic cost by slowing or stopping research in those areas if we hastily impose premature, overbearing, and poorly understood constraints. 

The most impactful way to shape the future of AI is not going to be through the regulation of research, but rather through understanding and correctly controlling the tangible impacts of AI on our lives. For example, it is our belief that AI should not be weaponized, and that humans should always have the ultimate "off switch." Beyond these obvious limitations, there are three rules we propose for AI that can be meaningfully applied now to mitigate possible future harm. 


Background: Artificial Intelligence and the Future of Education

An AI system: 

1) Must always respect the same laws that apply to its creators and operators; 

2) Must always disclose that it is not human whenever it interacts with another entity; 

3) Should never retain or share confidential information without explicit approval from the source. 

These rules are a strong practical starting point, but to successfully navigate the new world AI will bring about in the coming decades, we're going to need to ensure that our children are learning the skills required both to make sense of this new human-machine dynamic and to control it in the right ways. All students today should be taught basic computer literacy and the fundamentals behind how an AI works, as they will need to be comfortable with learning and incorporating rapidly emerging new technologies into their lives and occupations as they are developed. 

We will need our future scientists and engineers to be keenly aware that an AI system can only be as good as the data it is given to work with, and that to avoid dangerous bias or incorrect actions, we need to cultivate the right inputs to these systems that fairly cover all possible perspectives and variables. We will need policymakers who can successfully apply the rules suggested above as well as define the new ones we will need as AI continues to proliferate into the various aspects of our lives. 

New and different opportunities and values will likely emerge for humans in the economy that AI creates. As AI makes more resources more widely available, we will find less meaning in material wealth and more value in the activities that are uniquely human. This means that occupations with creative and expressive qualities, such as chefs, tailors, organic farmers, musicians, and artists of all types will become more important in an age in which a real human connection is increasingly precious. Roles that directly affect human development and well-being, such as teaching, nursing, and caregiving, will be especially crucial and should be uplifted as excellent options for people whose vocations are otherwise replaced by AI systems. No AI can hope to match a human for true compassion and empathy, qualities that we should be taking extra care to cultivate in our children to prepare them to inherit a world where these characteristics will be more important than ever. 


Background 

Artificial Intelligence and the Future of Education

By Benjamin Herold

What will the rise of artificial intelligence mean for K-12 education? 

First, AI and related technologies are reshaping the economy. Some jobs are being eliminated, many others are being changed, and entirely new fields of work are opening up. Those changes are likely to have big implications for the job market in 2030, when today's 6th graders are set to hit their prime working years. But the nation's top economists and technologists are sharply divided about whether AI will be a job killer or creator, presenting a big challenge for the educators and policymakers who must prepare today's students to thrive in a very uncertain tomorrow. 

Second, artificial intelligence is changing what it means to be an engaged citizen. K-12 education has never been just about preparing young people for jobs; it's also about making sure they're able to weigh arguments and evidence, synthesize information, and take part in the civic lives of their communities and country. But as algorithms, artificial intelligence, and automated decisionmaking systems are being woven into nearly every aspect of our lives, from loan applications to dating to criminal sentencing, new questions and policy debates and ethical quandaries are emerging. Schools are now faced with having to figure out how to teach students to think critically about the role these technologies are playing in our society and how to use them in smart, ethical ways. Plus, in the age of AI, students will likely have to develop a new communication skill: the ability to talk effectively to intelligent machines. Some economists say that skill could be the difference between success and failure in the workplace of the future. 

And third, artificial intelligence could play a powerful role in the push to provide more personalized instruction for all students-and in the process change the teaching profession itself. Intelligent tutoring systems are making inroads in the classroom. New educational software and technology platforms use algorithms to recommend content and lessons for individual students, sometimes pushing teachers away from the front of the classroom and into the role of "coach" or "facilitator." And schools are being flooded with data about their students, information that educators and administrators alike are increasingly expected to use to make real-time decisions and adjustments in the course of their day-to-day work. 

Some educators see the rising role of AI as a threat to their existence and a danger to student-data privacy. Others take a more positive view, seeing it as having the potential to free them from mundane tasks like lecturing and grading, creating rich opportunities for continuous improvement, and opening the doors for more meaningful trial-and-error learning by students. 

Whatever the perspective, there is one thing most everyone seems to agree on: Now is the time for the K-12 field to start wrestling with the promises and perils of AI.

Tuesday, March 27, 2018

Why Businesses Need Artificial Intelligence For Marketing


From the team at https://www.websitesthatsell.com.au/about-us/


The ways that businesses operate today is not the same as 30 years’ ago. 


Today, businesses operate based off data-driven reasoning. 


With that, one of the most effective means to generate revenue growth is through marketing. 


Now, if a company wants to take their success to new heights, they need to begin using AI for marketing. 


Here are five reasons behind how AI marketing can transform your marketing efforts.


Why Businesses Need AI for Marketing


1. Chat Bots

Have you ever been interested in a product before on a website and noticed that the brand offered a “Live Chat” system? So, in hopes of finding an answer to your question, you send a message to whom you thought was an employee of the company. Now, to the surprise of many, chances are, it’s an AI powered bot. These intelligent robots are sophisticated and designed to provide consumers with the answers they need so your business can secure a sale.

2. PPC Advertising

In the digital marketing industry, PPC campaigns are one of the most popular techniques towards generating new, quality leads. Now, in most campaigns, human beings are the ones who are overseeing and handling the marketing efforts. AI powered systems can transform the way that PPC campaigns are performed, eliminating the time a business may typically spend on these efforts. As a result, these AI systems can track vital data and information, utilizing this to increase and optimize the marketing objective. This effectively can improve the overall success of the campaign, generating more quality leads while also freeing up time otherwise spent studying algorithms and data.

3. Churn Prediction And Bounce Rates

When it comes to marketing, one important data measure that is difficult to predict is whether a consumer is going to bounce or perhaps disengage. This is where an AI powered system can make a difference in a company’s marketing game. Only through an AI system can a business begin to track and predict consumer behaviours on a website with such a high degree of accuracy. In doing so, a business can begin to create a marketing plan to keep consumers on the website or retarget previous customers.

4. Customer Preferences

Any successful marketing campaign begins with understanding the target audience. While a digital marketing can spend the time developing a customer profile, it can be time consuming. When you also include the margin for error, it can prove to be counterproductive for some businesses. An AI system can track and analyze customer preferences, making easier and less time consuming to develop custom customer profiles. Businesses could use this information to create better and more defined digital marketing campaigns, leading to more quality leads and sales.

5. Image Recognition

In recent years, image recognition technology has quickly begun to transform the marketing industry. Through utilized AI software, businesses can begin to understand a deeper level of consumer behavior in one of the most advanced ways. This software can recognize consumer faces and match it with custom data from each time they visit a specific store. From here, businesses can create consumer profiles and understand their behavior given specific circumstances, including sales, price fluctuations, and more!

Reference Links:

Entrepreneur.com

B2bmarketingexperiences.com

Thenextweb.com

Friday, March 23, 2018

Rich Arnold on Crypto Currencies

Crypto currencies:

Enough friends have asked for my thoughts that I finally wrote them down in as brief a form as I was able:

Crypto currency is still a tulip bulb bubble at present as the prices are all based on the greater fool theory.

Blockchain is a great technology and will be here for a very long time with a major impact on how business is done, but the value is in the network, not in the currencies which only have momentary value as they facilitate transactions.

We will definitely have “virtual currencies” in the sense that I may one day own (say) an electronic token (ie a crypto currency) that represents a certain percentage interest in a building, or a seat right in the Warriors’ new stadium, or a bottle of wine in storage somewhere, or a given number of kilowatt hours of electric energy. 

But currencies that are not representative of real value, only coinage, can be created infinitely. Bitcoin alone has a constrained total circulation, but there are already over 1,500 different ones of those currencies, so in buying one of those currencies as an investment asset one is betting on which will be a major facilitator of commerce and that is a very high risk bet. 

Bitcoin, for example, has two primary disadvantages—(1) the underlying technology requires too many computer transactions per trade so there is both a “latency” problem (ie a speed of completion problem) and a “bandwidth” problem (ie a quite low theoretical limit on the number of simultaneous trades the global network can accommodate), and (2) the total amount of power consumed for all those computer processes creates an unsustainably high global cost that is so far being ignored since it is made up of millions of tiny bits of cost shared by all network participants.

Two currencies that I think have “legs” for very different reasons are Ripple and Unikoin. Ripple is getting good traction as the liquidity currency on global inter-bank networks and has good underlying technology. Unikoin is a small currency dedicated to being used on the global betting platform for e-sports.

End of rant!

Thursday, March 22, 2018

AI will outperform humans in all tasks in 45 years time!

Fyi:  A short video from World Economic Forum forecasting when Robots will overtake Humans in their ability to perform a range of tasks and jobs.  Spoiler alert: Forecasts a 50% chance AI will outperform humans in all tasks in 45 years time!


Tx for the heads up Kimberly King) 

Wednesday, March 21, 2018

How the Banks are handling Job Disruption


There was an Australian Senate Inquiry on what we are doing as a nation to secure our jobs - as we face massive disruption from automation , ai , machines and Business Process Outsourcing.


Labor's Ed Husic said 3.5 million workers are under threat of having their jobs disrupted by technology.


The banking sector is in the running for massive disruption and Paul Smith from the AFR (fin review ) spoke to the CEOs of ANZ, Westpac and NAB to see what they were doing to prepare! 


Banks are already using robot technology on a large scale in its processing centres and this trend will continue.  


The banks need to plan for this change effectively, onboard skilled personnel (or upskill existing) and communicate with their employees, what this means and better explain how this benefits our customers.



NAB CEO Andrew Thorburn  announced its plans for the first 1000 of 6000 jobs it will make redundant over three years, and at the same time as it is looking to bolster its workforce with 2000 technology specialists.  These Specialists will probably need to be “imported in” - not sure what will happen to the 1000!


Thorburn said that NAB needs to ensure that they have the right people with the right skills and capabilities as the world continues to change. “We are committed to up-skilling people where it suits their aspirations and business needs, but there are limits," he said 


Westpac’s CIO Dave Curran warned that 

workers aged over 35 risked being left in the blocks by the wave of automation and new technologies, unless management philosophy in large organisations adjusts to adapt to the changing world. We recognise that the bank has a responsibility to work with its staff to ensure they enhanced their employability.

They need to be upskilled in jobs that are not repetitive and done by machines in a fraction of the time! 


Westpac’s CEO Brian Hartzer said they were doing this in a number of ways, including partnering with industry experts and tertiary institutions to design development programs to deliver recognisable credentials to employees.


"Automation and AI have well and truly arrived and there's no point pretending that technology isn't going to affect jobs, but it can be a net positive for the economy if we embrace it," Mr Hartzer said.


"We need to re-skill people and grow new jobs off the back of what technology can do so people can find new jobs." Said ANZ CEO Shayne Elliott. “Automation is not new to banking - the  introduction of automatic teller machines is a case in point, where  the industry embraced a more efficient way of operating, and now the rapid adoption of mobile banking as a more recent example of how institutions need to recalibrate to match customer demand.


To say nothing of blockchain and Fintech! 


Here’s the real question - will banks survive in its current form?






Read more: http://www.afr.com/technology/big-four-banks-pledge-to-step-up-on-tech-jobs-threat-and-help-plot-the-future-of-work-20180317-h0xmcp#ixzz5ANsVKSTw