Welcome to the automated warehouse of the future

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They call it “the hive,” or “the grid.” Or sometimes just: “the machine.” It’s a huge structure that fills a warehouse on the outskirts of Andover, a small and quiet town in southeast England. It’s impossible to take in at a single glance, but standing on a maintenance walkway near the building’s rafters, you look over what seems to be a huge chessboard, populated entirely by robots. There are more than a thousand of them, each the size and shape of a washing machine, and they wheel about, night and day, moving groceries. Their job is to be cheaper and more efficient than humans, and they are very good at it.

The hive-grid-machine is the creation of Ocado, a British online-only supermarket that’s made a name for itself in recent years designing highly automated warehouses and selling the tech to other grocery chains. When fully up and running, Ocado’s Andover operation will be its most advanced yet, processing 3.5 million items or around 65,000 orders every week. It’s also a perfect example of the wave of automation slowly hitting countries around the world. The tasks being undertaken by Ocado’s bots are so basic they’re best described by simple verbs — “lifting,” “moving,” “sorting” — and that means they exist in various forms in a range of industries. And when the price is right, someone will want a machine to do those jobs, too.

Continue reading… “Welcome to the automated warehouse of the future”

Bitcoin sees Wall Street warm to trading virtual currency

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SAN FRANCISCO — Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential.

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The new magnetism of mid-size cities

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For many millennials, second cities are becoming their first choice.

If, 10 years ago, you had asked 28-year-old Sarah Luckett Bhatia if she’d eventually return to her hometown of Louisville, Kentucky, she “would have laughed in your face.”

Even just a few years ago, the prospects of coming home to Derby City would have seemed slim. Bhatia moved to Chicago for school, studied at Columbia College, and immediately got a job in corporate planning and strategy. Like many 20-somethings, she steered her life and career trajectory toward big cities and the opportunities they promised.

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America’s disappearing IPOs

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What happened to all the IPOs?

It wasn’t so long ago that the market for initial public offerings — in which a promising and often young private company first allows public investors to buy its stock, often as a way to raise money and invest in the future — was booming. In the two decades before 2000, America was averaging some 300 IPOs a year. In fact, volume was considerably higher than that from 1990 to 2000, reaching 706 in 1996, for example.

Then they fell off a cliff. Last year, there were a mere 147. What happened?

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American highways are so expensive that cities are tearing them down — here’s what they’re turning into

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Traffic moves on the elevated Central Artery in Boston (2003, top). Parks and open space are seen in the same area (2007, bottom). AP

Throughout the 20th century, highways were key generators of economic growth for American cities. They allowed commuters to quickly travel between urban centers and the suburbs, unclogged traffic-ridden streets, and created infrastructure jobs.

But these days, investing in highways is a bad business decision for many cities.

An increasing number of cities around the US are choosing to tear down or transform parts of their dilapidated interstates, rather than repair them. These redevelopments are largely happening because old highways are costly to rebuild, according to Rob Steuteville from a DC-based nonprofit called the Congress for New Urbanism.

For the past decade, Steuteville’s team has documented cities that have or are considering highway removals. He expects the trend to continue to grow.

Continue reading… “American highways are so expensive that cities are tearing them down — here’s what they’re turning into”

The economics of artificial intelligence

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Rotman School of Management professor Ajay Agrawal explains how AI changes the cost of prediction and what this means for business.

With so many perspectives on the impact of artificial intelligence (AI) flooding the business press, it’s becoming increasingly rare to find one that’s truly original. So when strategy professor Ajay Agrawal shared his brilliantly simple view on AI, we stood up and took notice. Agrawal, who teaches at the University of Toronto’s Rotman School of Management and works with AI start-ups at the Creative Destruction Lab (which he founded), posits that AI serves a single, but potentially transformative, economic purpose: it significantly lowers the cost of prediction.

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Amazon made an Echo Dot for kids, and it costs $30 more than the original

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Those with an Amazon Echo device in their homes have likely already exposed their children to Alexa. Now, Amazon wants to give kids the opportunity to turn Alexa into their friend with the new Echo Dot Kids Edition. The hockey puck-like smart speaker doesn’t look too different from the original Dot, but it comes with new “Amazon FreeTime” content that gives kids new ways to interact with Alexa and parents more control over those interactions.

New parental controls and FreeTime Unlimited subscription coming soon, too.

Continue reading… “Amazon made an Echo Dot for kids, and it costs $30 more than the original”

The next great workplace challenge: 100-year careers

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Scientists expect people to live routinely to 100 in the coming decades, and as long as 150. Which also suggests a much longer working life lasting well into the 70s, 80s, and even 100, according to researchers with Pearson and Oxford University.

Quick take: Thinkers of various types are absorbed in navigating the age of automation and flat wages, but their challenge will be complicated by something few have considered — a much-extended bulge of older workers.

Continue reading… “The next great workplace challenge: 100-year careers”

1 out of 5 US homes with wifi now have a smart speaker like the Amazon Echo

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Smart speakers have been a hot ticket item in recent years. Products by Amazon, Google and Apple, which allow consumers to play music, order food and get news just by talking to the device, have already experienced a surprisingly strong adoption in the US market.

This chart by Statista which is based on comScore data, shows that 20% of homeowners with wifi have at least one active smart speaker. That percentage will be inching up as well, if the past few months are any indication of the device’s steadily increasing adoption rate.

Via Business Insider 

Bitcoin, Etherereum, Bitcoin Cash, Litecoin and Ripple make up 70% of crypto market

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Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple dominate the cryptocurrency market, representing $241 billion or 70% of the total market cap. The entire cryptocurrency market cap is currently $343 billion, up from $10.5 billion in 2014. The aggregate market capitalization increased by more than 2,500% in 2017 alone.

However, research conducted by Axa Investment Managers shows that despite the massive growth, cryptocurrencies still pale in comparison to the $100 trillion global bond markets and $80 trillion in global equities.

Continue reading… “Bitcoin, Etherereum, Bitcoin Cash, Litecoin and Ripple make up 70% of crypto market”

This new 3D-printed house was built by a portable robot in just 48 hours

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There are a lot of 3D-printed houses popping up these days, but this is the first time an architect with the renown of Massimiliano Locatelli of CLS Architetti and Arup has tackled one. Built out of a special quick-drying mortar, the 1,076-square-foot house was constructed in just 48 hours. Locatelli envisions 3D printing as the housing of the future – and that his house could be constructed anywhere,”even the moon.”

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