We now live in a time when citizens, businesses, and governments all around the world are facing significant challenges. Technology can play a critical role in assisting innovation and pioneering solutions in this area. Advancements in AI are required for cutting-edge technologies such as driverless vehicles, natural language processing, and quantum computing. Let’s take a look at how these changes will affect the socioeconomic landscape.
AI and vaccine development
Until recently, developing a new vaccine may take decades in some situations. In March 2020, human testing on vaccines to combat Covid-19 were already underway. Shortly, the use of AI in vaccine development could have game-changing ramifications. To combat the growing COVID-19 variations, a research team has built a new AI model. This AI model can also predict the future.
The advent of Robo-taxis and fully automated driving
By 2020, self-driving cars and Robo-taxi services will be widespread. In the United States, companies such as Uber and Lyft have already introduced autonomous taxi services. Commercial autonomous car trials have been set up in countries such as the United Kingdom. Testing of driverless Robo-taxis will be expanded in Israel, China, the United States, and Europe. Baidu is about to make a big announcement.
AI and the Internet of Things
Many existing technology advancements are complemented by AI, which expands their potential. It’s no different from the Internet of Things. Consumers and organisations alike can profit from the use of IoT and AI. Personalized, proactive interventions and supply chain visibility are among them. User patterns in interactions can be tracked, recorded, and observed using IoT. This consumer data can be used by AI to improve customer experiences.
Formula 1’s sustainable fuel could be a game-changer for the world
By 2025, Formula One intends to have a new generation of engines on the track. That engine needs to run on 100% renewable ‘drop-in fuel.’ This is to help Formula 1 achieve its goal of becoming carbon-neutral by 2030. In 2022, the sport will switch to E10 gasoline, which is made up of 90% fossil fuel and 10% ethanol.
This 100% renewable ‘drop-in fuel’ will be generated in the lab with components sourced from carbon capture, municipal garbage, or non-food biomass. It will save at least 65% on greenhouse gas emissions as compared to fossil-derived gasoline. It will also pack a serious punch, befitting the pinnacle of motorsport, and matching the energy density of existing Formula 1 fossil fuel gas lines.
Why does this matter?
The implications of this are massive. If history is anything to go by, manufacturers treat Formula 1 not just as a Motorsport series par excellence, but also a testing bed for next generation innovations that might make its way down to road going cars in the years to come.
And as governments around the world start to ring the death knell of internal combustion engines, this fuel could yet offer a new, green hope for humankind. Governments might no longer have to mandate a switch to EVs, and manufacturers could continue to transition to cleaner fuels without spending on the infrastructure required to meet the demands of EVs.
This could be a breakthrough solution for human mobility, and will be eager to see the mainstream application of this innovation.
Meet Zoho: India’s $5 billion SaaS behemoth
Sridhar Vembu is the Co-Founder and CEO of Zoho, a firm that helps businesses become digital by providing apps that handles everything from customer acquisition to sales and customer service. Zoho boasts 45 million customers in 180 countries, but chances are you’ve never heard of the software giant unless you use it in your business.
Billionaire on his feet
Vembu’s worth is projected to be $US1.6 billion ($2.23 billion) and increasing, according to Forbes, with Zoho’s annual revenue at about $1 billion. Because its competitors, such as Salesforce, Microsoft, and Google, spend “20 to 1” on marketing, Zoho stays under the radar. Despite having Qantas and BHP as customers in Australia, the software firm is only now establishing its presence.
Staying private and avoiding venture capital
Before realising he didn’t like what he was doing, Vembu was offered a job as a lecturer at the Australian National University. Vembu chose to “start at the bottom” as an engineer, where he was exposed to software and discovered he enjoyed it.
Zoho’s Zoho One product alone contains over 40 apps, and he attributes the company’s diverse product range to allow his employees to run with their ideas.
Entrepreneur with a ‘classic’ style
He is a “perfect example” of an entrepreneur, according to Christopher Lau, founder of ASX-listed company eCargo. Sramana Mitra, the founder of One Million, a virtual accelerator in Silicon Valley, says Vembu built Zoho via a series of creative tactics.
“Zoho has applied the same model of copying successful products by Google, Microsoft, etc. to create a broad portfolio that caters to small businesses very effectively,” she says. Vembu says his ambition for Zoho is for it to be the software that runs all aspects of a company, from sales to finance, with affordable pricing starting at $1 per employee per day.
Soaring while the chips are down: Tesla sales up even as rivals are left reeling
Tesla, the electric vehicle manufacturing giant, recently announced its third-quarter shipping and production figures where it claimed to have delivered 2,41,300 electric automobiles, indicating that it once again had set new benchmarks.
The previous high was 2,01,250 in the second quarter of 2020. “This is the craziest month of deliveries Tesla will ever have,” CEO Elon Musk warned staff earlier this month.
Tesla’s service teams had to add parts to vehicles built earlier in the quarter due to production challenges caused by supply chain bottlenecks, according to the CEO.
The automaker’s business model typically results in more deliveries after each quarter, but this quarter’s production troubles exacerbated the problem, and seems to have bucked the shortage of chips that is leaving rival automakers hamstrung.
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