June 27 – 5 Key Stories From The Digital World

By June 27, 2019 Insight

1. JPMorgan Chase expands Seattle engineering center to 100 people, plans to add hundreds more

  • The engineering center is part of a major bet on the cloud by the financial services giant, which is now spending $11 billion a year on technology overall.
  • It reflects a growing trend of financial institutions working with public cloud services, as Amazon Web Services, Microsoft Azure, Google Cloud and others improve their security and compliance for sensitive financial data and apps.
  • It’s part of a major change in JPMorgan Chase’s attitude and approach to using cloud technologies as part of its business.

2. Robots ‘to replace up to 20 million factory jobs’ by 2030

  • Each new industrial robot wipes out 1.6 manufacturing jobs, the firm said, with the least-skilled regions being more affected.
  • productivity benefits from automation should boost growth, meaning as many jobs are created as lost
  • About 1.7 million manufacturing jobs have already been lost to robots since 2000, including 400,000 in Europe, 260,000 in the US, and 550,000 in China

3. Airbnb’s new ‘Luxe’ service will rent you a home for $1 million a week

  • will launch with over 2,000 properties, which it boasts have been hand selected and inspected for quality
  • new tier was made possible by its 2017 acquisition of the company Luxury Retreats
  • it pursued the new business model because rentals of $1,000/night properties on Airbnb increased by more than 60 percent in 2018

4. Can TikTok Turn 950 Million Downloads Into a Booming Business?

  • Since debuting two years ago, it has been downloaded 950 million times—mostly by teens seeking snippets of entertainment or looking to share their own rapping, dancing, or magic skills with the world
  • During the first three months of this year, it was the third most downloaded app worldwide, ahead of Facebook and Instagram, and just behind WhatsApp and Facebook Messenger
  • Still, with the growth, TikTok is quickly morphing from its roots in amateurish lip-synching clips to a destination for more elaborate videos cut with increasingly sophisticated editing tools

5. Bright Machines wants to put AI-driven automation in every factory

  • announced its first product designed to put intelligence and automation in reach of every manufacturer, regardless of its size
  • What the Software Defined Microfactory does is package together robotics, computer vision, machine handling and converged systems in a modular way with hardware that you can plug and play, then the software comes in to instruct the factory on what to build and how to build it
  • company is concentrating on the assembly line for starters, especially when building smaller runs like say a specialized computer board or a network appliance where the manufacturer might produce just 50,000 in total, and could benefit from automation, but couldn’t justify the cost before