September 23 – 5 Key Stories From The Digital World

By September 22, 2019 Insight

1. Wells Fargo’s Stablecoin ‘Faster, Cheaper’ Than SWIFT, Says Exec

  • Using the digital cash would allow the bank to move funds 20 hours a day, up from only six to nine hours, five days a week when it relies on wire transfers and systems like SWIFT
  • The blockchain project, which will go into a pilot phase next year after a successful proof-of-concept, “will allow those locations to exchange digital cash among themselves,”
  • As with rival megabank JPMorgan’s JPM Coin, Wells Fargo’s digital cash will be backed 1-for-1 with the analog kind

2. World record sales for robots as sector reaches $16.5 billion in investment

  • if you’re in a growing list of sectors, including light manufacturing, components, oil and gas, and various kinds of applied sciences…robots that service these industries are called collaborative robots, or cobots
  • Cobots were a standout in 2018, but the robotics sector as a whole grew impressively…422,000 units were shipped globally in 2018, an increase of 6 percent compared to 2017
  • The growth of the cobot market, in particular, which virtually didn’t exist a decade ago, has been a boon to several down chain robotics companies, including those that specialize in end of arm tooling

3.  Google launches AI lab in Bangalore, India

  • In February, Google’s AI for detection of diabetic retinopathy in eye scan images was deployed for clinical use in Madurai, India
  • Google Research India joins Google research centers in New York, Toronto, and Zurich and follows the opening of dedicated AI centers and research operations in various parts of the world
  • The Google AI team in France that formed in January 2018 is focused on health, science, and art research, while in June 2018 Google announced plans to open its first AI lab from a tech giant in Africa

4. Virtual Banks In Hong Kong Set To Rekindle The Retail Banking Experience

  • recently announced eight new virtual banking licenses in the market, and their operators will all launch new digital-only banks there before or in early 2020
  • expect virtual banks, and not only the ones linked to Chinese digital giants, to dramatically outperform the mobile apps from banking incumbents
  • noticed that it usually takes a few years for these banks to amass a critical size…expect to see virtual banks in HK to start launching their digital-only propositions in early 2020 or before

5. Drones could help during your next car breakdown

  • Drones will be sent to the stranded vehicles first, and the drone will be used for capturing photos and videos of the stranded vehicles
  • drone will send the photos and videos to our control room and the roadside assistance Houston professionals heading for towing the vehicle would be able to know what kind of tools they need to carry or what kind of tow truck is needed
  • 360 Towing Solutions Houston says it plans to start deploying drones in October…the technology is progressively being used across industries…change the way vehicles have been traditionally towed