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Category: business – Page 245

Groundwater being pumped from a highland aquifer, only to be whisked away in tankers and sold in little plastic bottles by a multinational corporation – it’s a difficult concept for a small farming town to swallow.

Just ask the residents of Stanley, Victoria, whose four-year court battle to stop a farmer bottling local groundwater for Japanese beverage giant Asahi ended in failure last month. They were left with a A$90,000 bill for legal costs.

Locals have clashed with the bottled water industry in many parts of the world, including the United States and Canada, and perhaps most famously in the French spa town of Vittel, where residents have accused Nestlé of selling so much of their water to the rest of the world that they barely have enough left for themselves.

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Pichai’s challenge is to find a way of reconciling Google’s dovish roots with its future. Having spent more than a decade developing the industry’s most formidable arsenal of AI research and abilities, Google is keen to wed those advances to its fast-growing cloud-computing business. Rivals are rushing to cut deals with the government, which spends billions of dollars a year on all things cloud. No government entity spends more on such technology than the military. Medin and Alphabet director Schmidt, who both sit on the Pentagon’s Defense Innovation Board, have pushed Google to work with the government on counter-terrorism, cybersecurity, telecommunications and more.

To win in the business of cloud computing, the company tiptoes into the business of war. Some staff fear it’s a first step toward autonomous killing machines.

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With Google’s I/O developer conference kicking off later today, Google is setting the scene for what it expects to be one of the big themes of the event: artificial intelligence. Today, the company rebranded the whole of its Google Research division as Google AI, with the old Google Research site now directing to a newly expanded Google AI site.

Google has over the years worked on a wide variety of other computing pursuits beyond AI, and all of that content will continue to exist within that new site, the company said. But the move signals how Google has increasingly focused a lot of its R&D on breaking new ground across the many facets of AI specifically, from technologies like computer vision, natural language processing, and neural networks, through to applications across virtually any and every business that Google currently and potentially touches, such as video, search and mobile apps, but also healthcare, automotive applications and other verticals.

That’s not just Google reflecting how the wider world of tech is evolving; it’s also a measure of how much Google has influenced it.

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Artificial intelligence has the potential to create trillions of dollars of value across the economy—if business leaders work to understand what AI can and cannot do.

In this episode of the McKinsey Podcast, McKinsey Global Institute partner Michael Chui and MGI chairman and director James Manyika speak with McKinsey Publishing’s David Schwartz about the cutting edge of artificial intelligence.

David Schwartz: Hello, and welcome to the McKinsey Podcast. I’m David Schwartz with McKinsey Publishing. Today, we’re going to be journeying to the frontiers of artificial intelligence. We’ll touch on what AI’s impact could be across multiple industries and functions. We’ll also explore limitations that, at least for now, stand in the way.

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1. Predictive analytics

Imagine being able to project a customer’s worth as soon as he buys your service. Sounds impossible, right? Well, in the course of our AI-as-triage work, we helped a leading online registry predict the lifetime value of its patrons within a few days of sign-up with 90 percent accuracy. Now, the registry can make more informed decisions about its customer service, delivering as much value as possible to its most loyal users.

Of course, creating a predictive solution requires a complete record of your customer interactions. Building this database takes time, but many of the necessary components are available off the shelf. Even if predictive analytics are a way off for your business, start collecting customer data now so you’ll have it when you decide to tap into AI.

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Transcript:

We are headed towards a post Singularity simulated future and everything points towards us becoming a simulated species and being able to upload our consciousness quantify our consciousness and put that into a simulation.

And I don’t necessarily think it’s us that may control it.

I think it’s going to be the AI systems, the quantum computers of the future, those systems will create the simulations, they will draw us in, some may do it on purpose and some by accident. Whether that’s a choice that we make or whether a choice the machines make is something we’ll have to find out when we get to the future.

I wrote about the Sim Generation in a book called The Future of Business, and the idea was that this generation that we are seeing right now, they are the simulated generation, so by the time that they reach their early twenties living inside of simulated virtual reality for those kids, it’s not going to be uncommon, it’s not going to be foreign to them.

Continue reading “Futurist Gray Scott” | >

Rain Design isn’t the first company to fall victim to the aggressive techniques Amazon uses to achieve market dominance. Although its retail site is the most visible of its business strands, the $740bn company has quietly stretched its tentacles into an astonishing range of unrelated industries. Google and Facebook might have cornered the online advertising market, but Amazon’s business successes now include groceries, TV, robotics, cloud services and consumer electronics.

With its profound knowledge of its customers, Amazon can move into almost any sector – striking fear into the hearts of rivals. And the $740bn company is ‘just getting started’

By and in San Francisco

Tue 24 Apr 2018 11.32 EDT Last modified on Tue 24 Apr 2018 17.00 EDT.

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