Month: August 2024

Clients and friends. We hope your summer is going well and you have been able to spend time with family and friends connecting and doing what you enjoy. We got to spend some time in San Diego while on a business/family trip in early August. It was a great opportunity to come together with other leaders in the financial industry to learn about topics such as AI and robotics and how they are integrating into society. We also got to spend time on some of the areas beautiful beaches. The kids voted the dog park beach as their favorite. Happy dogs and a stunning sunset. A great combo. 

Artificial Intelligence & Robotics

With so much discussion on Artificial Intelligence, (AI) I wanted to share a deep dive on this topic for late summer as we will all be hearing more about AI advancing and more on this topic of advanced Robotics.

Why is AI and Robotics such a hot topic?

According to Fundstrat’s Tom Lee, the number of “prime workers aged 18-55 has shrunk relative to the size of the total population. This occurs during demographic cycles which is driven by advancing modern medicine and increased longevity through healthy lifestyles which results in an aging population. Lee estimates that the cycle started around 2016 and will run until about 2036, leading to a shortage of about 40 million prime age workers worldwide at its peak.

This worker shortage is why corporations typically invest in productive technology. Lee expects this worker shortage to result in an estimated salary loss of 3 trillion dollars. Thus, the investment into technology like AI would act as an offset to wages lost due to lack of workers.

The Evolution of AI and Large Language Models

AI had its start in the 1950s, and has made incremental steps forward in the following decades, making significant strides which have lead us into the era of OpenAI’s ChatGPT (2022), Google’s Bard (2023) and others since. These Large Language Models (LLM) use deep learning techniques to understand and generate human language, allowing for a wide range of applications – from chatbots to content generation and beyond.

Are there different Levels of AI capabilities? Yes:

• Narrow AI: This is where we are now, current LLMs are examples of narrow AI which are designed to perform specific tasks without general intelligence. They excel in language tasks but do not possess the ability to understand the world as humans do.

• General AI: Ray Kurzweil a noted futurist and others predict that the next several years could see significant advancements towards artificial general intelligence (AGI), where AIs would have cognitive capabilities comparable to humans. In one of the videos below this is demonstrated. This could allow LLMs to engage in more nuanced conversations and perform complex problem-solving across diverse domains.

• Superintelligent AI: It is being predicted that in the decade following this period of General AI advancement, we could potentially see superintelligent AI, capable of surpassing human intelligence in virtually all respects.

The Role of Training Data

The effectiveness of LLMs depends heavily on the amount and quality of training data. As more data becomes available, models are expected to become increasingly sophisticated, with improved contextual understanding and better handling of ambiguity and complexity in language. This is the area that entails computer data centers which require large amounts of computing power and thus, large amounts of energy to run.

Some typical use cases of AI that we all use often are, Chatbots on websites, Maps on your Mobile Phone, SIRI or Alexa via home speakers. Drive through fast food companies are beginning to use this technology to automate customer service. Tesla uses their proprietary AI system for their cars that use Full Self Driving (FSD) and they have noted that this feature has a positive impact, based on vehicle safety report 2022 data which shows vehicles typically are in accidents every 1.4 million miles, and with Tesla FSD have an accident about every 4.8 million miles- massive improvement.

How else is AI (software) making the next big connection to Hardware?

Institutions like Massachusetts Institute of Technology (MIT) have a long history of paving the way in cutting edge research, and this new era of AI and Robotics has been no exception.

MIT’s educational programs typically combine computer science, cognitive science, and engineering, preparing students to tackle the challenges presented by AI systems.

The research projects at MIT for advancing the capability of AI and Robotics are split between program disciplines. MIT Media Lab works on projects that explore human-AI collaboration, while the Computer Science and Artificial Intelligence Laboratory (CSAIL) delves into machine learning and robotics innovation.

MIT’s emphasis on robotics is essential, as it provides a bridge between AI software capabilities and physical applications. Research into robot perception, manipulation, and navigation hinges on AI advancements. As robots become more intelligent, they can be applied across various industries, from manufacturing to healthcare.

MIT also builds in Ethical and Safety standards into their program which is a massive consideration and hot topic that the field at large will need to grapple with. Government will also wrestle with this topic through regulation.

Boston Dynamics and the Future of Robotics

Boston Dynamics, known for its cutting-edge robotics, has transformed the landscape of physical automation. The company’s robots, such as Spot and Atlas, are celebrated for their agility, dexterity, and advanced AI capabilities, reflecting the direction that robotics may take in the coming years.

• Advanced Mobility and Manipulation: Boston Dynamics creates robots that can navigate challenging environments autonomously. In the next six years, we can expect further enhancements in AI-powered perception, allowing robots to perform complex tasks in dynamic and unpredictable settings.

• Collaboration with AI: Boston Dynamics is increasingly integrating AI into its robots, which will enable them to understand their environments more intuitively and make decisions on-the-fly. This integration could revolutionize industries such as construction, logistics, and delivery, where robots assist humans and perform tasks that are too dangerous or tedious.

• Human-Robot Interaction: As robots become more prevalent, understanding how these machines can collaborate with humans will be crucial. Future developments may focus on creating more effective and safe interactions between humans and robots, leading to better integration in workplaces and everyday life.

The Future of AI and Robotics: 2030

As we project forward six years, several trends and implications can be anticipated in the fields of AI and robotics:

AI technologies will likely become embedded in everyday tools and applications, enhancing productivity across various sectors. From personalized learning systems to AI-driven healthcare diagnostics, the impact on efficiency and decision-making will be everlasting.

As AI becomes more integrated into society, there will be a pressing need for clear regulations to ensure ethical use. The issues of bias, privacy, and accountability will be at the forefront, requiring collaboration between technologists, legislators, and ethicists.

AI and robotics will transform job landscapes. While certain jobs may be displaced, new roles focused on AI oversight, robotics maintenance, and collaboration will emerge. Education and retraining will be necessary to prepare the workforce for this transition.

AI capabilities will play a significant role in addressing global challenges such as climate change, public health, and food security. The ability to analyze large amounts of data and model complex systems could lead to innovative solutions for these challenging areas we are living in.

Philosophical and Existential Considerations: The rise of AI will force society to confront philosophical questions about consciousness, intelligence, and the role of machines in human life. As AI approaches human-level intelligence, discussions around rights, ethics, and the future of coexistence will be paramount.

With all this AI & Robotics, I wanted to share some further examples below. It will be different than the last cycle when we all picked up Mobile Phones and Computers and for some, new Hips, Knees etc. This area will change things, we will be taken aback in some instances and embrace others like iRobot Roomba vacuums (our Roomba is named Hal).

Thank you for reading and enjoy the videos below.

Meet Atlas by Boston Dynamic

Tesla Robot Snowboarding?

BMW & Amazon

One last one, Sparkles