💎 AI Detectives, 🔋 Indonesia's EV Battery Push, and 🦈 Virtual Sharks at Dodger Stadium
Thomas's Innovation Wrap #85
Greetings,
Here’s your weekly wrap of technology, innovation, and finance news.
💊 Health
MIT researchers developed a brain-controlled bionic leg using "agonist-antagonist myoneural interface" (AMI). The prosthetic allowed amputees to walk more naturally and even dance, with patients reporting 41% faster walking speeds.
"Because the brain is receiving normal sensory feedback, the movement of the leg feels natural as if it were made of flesh and bone," said Professor Hugh Herr, one of the lead researchers.
Moderna has successfully completed phase-III clinical trials for a combination COVID-19 and flu vaccine. This mRNA-based vaccine has shown higher effectiveness than single-target shots and could streamline immunisation processes. The company is now seeking FDA approval, potentially revolutionising seasonal vaccination strategies.
Weight loss research has taken an exciting turn with the discovery that suppressing a single protein, KLF-15, can transform white fat cells into calorie-burning beige fat cells. This finding could lead to new treatments for obesity that are more effective and have fewer side effects than current options.
Scientists developed 3D-printed egg shells to help bones regrow, offering a promising approach to bone repair. Researchers also created an organ-on-a-chip mimicking the blood-brain barrier, potentially improving drug delivery for neurological conditions.
Meanwhile, the US military invested $46 million in an "ultimate blood substitute" - a haemoglobin-based oxygen carrier (HBOC) aiming to provide a shelf-stable, field-deployable alternative to traditional blood transfusions.
☁️ Cloud Computing
In a move to enhance national security capabilities, the Australian government is investing heavily in secure cloud infrastructure. The Albanese government will spend more than $2 billion with Amazon to build and run top-secret data centres for the country's spies and military.
"Modern conflict is more reliant upon information technology, upon computing infrastructure, than ever before," said Defence Minister Richard Marles.
Lambda, a GPU cloud service provider, is seeking $800 million in funding to fuel its GPU cloud expansion. The company aims to use this capital to purchase additional Nvidia GPUs and associated network infrastructure, capitalising on the growing demand for AI-related computing power. This move comes as cloud computing firms in the AI race are attracting significant investment, with companies like CoreWeave recently raising billions in funding.
💎 Artificial Intelligence
AI systems continue to surprise us with their capabilities, often surpassing human performance in unexpected ways. A new study has found that AI-powered lie detectors are significantly better than humans at spotting deception. The AI systems were able to correctly identify lies 80% of the time, compared to humans who only managed a 19% accuracy rate.
It's worth remembering the fallibility of historical lie detection techniques. The polygraph was designed to measure heart rate and other signs of "arousal" because it was thought some signs of stress were unique to liars. They're not. And we've known that for a long time.
Investors poured $27.1 billion into AI startups in the US from April to June, accounting for nearly half of all US startup funding in that period. This surge came as AI companies promised industry-wide transformative technologies. Rather than a job destroyer, some argued AI could boost employment, with an Australian government-backed report suggesting it might create 200,000 jobs in Australia by 2030, including over 160,000 in tech-related roles.
Apple has taken a significant step in the AI race by launching a public demo of its “4M” AI model, showcasing its capabilities in processing and generating content across multiple modalities.
AI's impact extends beyond business, with governments exploring its potential to enhance democracy. In Taiwan, Audrey Tang, a hacker-turned-politician, is using digital technology to reimagine democratic processes, including the development of virtual platforms for democratic deliberation. In research applications, AI is making strides in predicting behaviour, as demonstrated by a study where an AI system accurately predicted how monkeys play Pac-Man, mimicking their eye movements and decision-making processes.
The rapid advancement of AI-generated content is both exciting and concerning. While AI is rewriting meme history with creative and sometimes unsettling results, there are growing concerns about the potential misuse of this technology. Experts predict that deepfake-related losses could soar to $40 billion by 2027, highlighting the urgent need for detection and prevention measures.
AI assistants continue to gain popularity. Baidu's AI chatbot, ERNIE Bot, has reached 300 million users, just two months after hitting the 200 million mark. In Korea, Naver and Nvidia are teaming up to develop "sovereign AI", aiming to create AI models that respect cultural values specific to each region.
Aidan Gomez, CEO of Cohere, shared insights on how AI will directly profit companies, emphasising the technology's potential to drive automation and create new product experiences.
💻 Chips and Computing
A breakthrough in quantum computing could revolutionise secure wireless communication. Researchers have developed a tiny chip that could enable "super-secure quantum Wi-Fi", paving the way for unhackable quantum networks. This "quantum phased array" (QPA) chip, measuring just 1.8mm by 3mm, can process quantum signals at room temperature, making it a potential game-changer for quantum communication systems.
"This is a technical advance," says Carlo Ottaviani at the University of York. "If the new device could eventually establish quantum-encrypted wireless communication inside of buildings, it could mirror existing communication technologies – with an added layer of security."
As the global race for chip manufacturing intensifies, Canada is stepping up its efforts. The country has announced a C$120 million (US$88.2 million) investment over five years to build a national chip network. This initiative, known as the Fabrication of Integrated Components for the Internet's Edge (Fabric) network, aims to help Canadian startups commercialise new technologies and compete with global players. The investment comes as calls intensify for the government to bolster its lagging semiconductor sector.
In the semiconductor industry, Samsung Electronics has posted its fastest pace of sales and profit growth in years, reflecting a recovery in memory chip demand driven by the AI boom. The company's operating profit grew more than 15-fold to 10.4 trillion won ($7.5 billion) in the June quarter, outstripping market projections. This surge highlights the growing importance of AI-related infrastructure in the chip industry.
Arm, the world's largest semiconductor IP company, is drafting a new blueprint for the AI era, aiming to standardise chip designs with global partnerships. This initiative could accelerate product development for industry players and extend Arm's influence into the AI semiconductor sector. Meanwhile, in a notable industry movement, Nvidia's VP of Investor Relations & Strategic Finance (and former GS analyst) Simona Jankowski is becoming CFO at a chip startup, Lightmatter, signalling growing interest in specialized AI chip companies.
💲 Finance
Northern Data AG is considering a US IPO for its AI unit at a valuation of up to $16 billion. The company is exploring options to list an entity comprising its cloud computing activities and data centres on the Nasdaq as early as the first half of next year. This move reflects the growing investor appetite for AI-related companies and infrastructure providers.
South Korea has sharply revised its economic growth forecast upward, projecting a 2.6% GDP expansion this year, up from the previous 2.2% estimate. This boost is largely attributed to booming global demand for artificial intelligence, which is driving semiconductor exports to record levels.
"We see it will be multimodal, especially with AR and digital/physical commerce. It requires all these different technologies. It lets us imagine what we can create. This is Walmart's augmented reality journey. AR will be more interesting than just 3D representation."
🌞 Renewables and Clean Energy
Indonesia is making bold strides in the electric vehicle (EV) industry, with President Joko Widodo inaugurating a US$4.46 billion battery and EV ecosystem project in West Java. The initiative aims to establish Indonesia as a key player in the global EV supply chain, leveraging its vast nickel reserves.
As part of this push, Hyundai and LG have opened Indonesia's first EV battery cell plant, aiming to power affordable electric vehicles. The plant, operated by their joint venture HLI Green Power, has an annual capacity to produce cells for over 150,000 EVs. Hyundai plans to use these cells in various models, starting with the new Kona Electric, which will be the first EV powered by the new cells produced in Indonesia.
⚙️ Mobility
Tesla has patented an auto-sanitisation system for its future robotaxi fleet. The system aims to keep shared vehicles clean using sensors and potential UV light or heating systems. However, Tesla still needs to solve full self-driving capabilities, the main hurdle for robotaxi services.
Meanwhile, drone maker DJI is entering the e-bike market with its Avinox drive system. The lightweight system offers high performance with up to 105Nm peak torque, 600Wh or 800Wh batteries, and fast charging. This move reflects growing demand for electric micromobility and DJI's expansion beyond drones.
📶 Wireless
The mobile network industry is poised for change with the OpenRAN initiative gaining momentum, which aims to make equipment from different manufacturers interoperable. This could challenge Nokia, Ericsson, and Huawei's dominance, offering operators more flexibility and potential cost savings.
Samsung is capitalising on this shift, expanding into Europe with virtualised RAN technology. Having deployed 40,000 vRAN sites globally, it plans to enter 11 European countries, potentially accelerating OpenRAN adoption.
AST SpaceMobile is making bold promises with its plans for a seamless satellite phone service covering the entire continental US. The company claims its service will work with existing devices and even provide coverage inside buildings, thanks to the use of low-band spectrum. However, the success of this ambitious project hinges on the deployment of their satellite constellation, which has faced delays.
"You'll have a seamless experience with either carrier," claimed AST SpaceMobile chief Abel Avellan. "You'll simply connect to AST SpaceMobile's network through your carrier, AT&T or Verizon, for reliable cellular service for a smooth and worry-free experience."
🔗 Blockchain and Crypto
Law enforcement agencies are using blockchain analysis to combat crypto-related crimes. Despite only 0.34% of crypto transactions being suspicious last year, they amounted to over US$22 billion.
Some Bitcoin mining companies are becoming popular AI stocks, leveraging their infrastructure for AI computing. Core Scientific's stock doubled after signing a US$3.5 billion AI hardware hosting deal.
"The demand is insatiable," says Adam Sullivan, Core Scientific's CEO. "If we just execute on what is within our current contracted power today, we'd be a top 10 data center company in the United States hosting a very significant portion of AI that's done in the United States over the coming years."
Robinhood is considering offering crypto futures in the US and Europe. This move could potentially expand Robinhood's crypto offerings and tap into the larger derivatives market, which saw monthly trading volumes of $3.69 trillion in May, compared to $1.58 trillion in spot trading.
🧱 Advanced Materials
Researchers discovered intricate mazes within quasicrystals' atomic structures, potentially improving efficiency in microscopy and catalysis. New manufacturing techniques are revolutionising the composites industry, with companies creating lightweight, strong materials for various applications.
In wearable technology, researchers have developed a novel 3D stretchable electronic strip that could open up new possibilities for e-textiles.
👓 Virtual and Augmented Reality
Apple is developing AirPods with infrared cameras to enhance the Vision Pro headset experience, aiming to provide immersive audio by tracking head movements. Expected to begin production in 2026, this innovation could significantly boost AR experiences and further integrate Apple's device ecosystem.
AR technology is proving valuable in manufacturing and retail. A study at Osborne Naval Shipyard showed AR head-mounted displays can improve efficiency in complex assembly tasks. Meanwhile, Walmart is implementing AR for virtual try-ons and improved shopping experiences, leading to better conversion rates and reduced returns.
"We're really looking at how we can create a transformational experience for our customers," said Desirée Gosby, vice president of emerging technology at Walmart Global Tech.
🛰️ Space
SpaceX has announced a target date for its highly anticipated Polaris Dawn mission: July 31. This five-day crewed mission will push the boundaries of space exploration, sending four non-professional astronauts to an orbit 700 kilometres above Earth - about 300 kilometres higher than the International Space Station. The mission will include the first-ever commercial spacewalk using new, specially designed spacesuits. Additionally, the crew will conduct research on the effects of spaceflight and space radiation on human health, and test Starlink laser-based communications in space.
"We would have been happy with 99, to tell you the truth. We were very delighted to get to three nines," he said.
For those looking to explore space from the comfort of their armchair, New Scientist has compiled a list of the best science fiction books of 2024 so far.
⚡ Other Snippets
Florida carpenter ants were discovered performing life-saving limb amputations on infected nestmates, reducing mortality by 90%. This makes them the first known non-human animals to conduct such procedures.
"The finding is remarkable and pushes the envelope of our understanding of behavioural immune systems in social insects," says James Traniello at Boston University in Massachusetts.
A PLOS Genetics study revealed significant economic growth in Roman-occupied Britain, challenging the notion that such growth was limited to modern industrial societies. Analysing archaeological finds, researchers estimated a 2.5-fold increase in productivity per capita over 350 years, with annual growth rates of 0.5% between AD 150-250, slowing to 0.3% until AD 400. This growth was attributed to Roman technologies, laws, and infrastructure improvements.
"What we're able to show is yes, after the Romans arrived, there was definitely intensive growth," says Rob Wiseman, one of the researchers. "The pace of growth rather than the kind of growth is what probably distinguishes the modern world from the ancient one."
AI made waves in racing games, with a new system outperforming top human players in Gran Turismo 7 using only visual information from the screen.
The worlds of digital entertainment and traditional sports are colliding in unexpected ways, as demonstrated by a recent event at Dodger Stadium in Los Angeles.
Gawr Gura, the most popular VTuber (virtual YouTuber) in the world, made an appearance at a Los Angeles Dodgers baseball game. Gura, who describes herself as a "shark-girl from the lost city of Atlantis," sang "Take Me Out to the Ball Game" during the seventh-inning stretch.
This collaboration between the Dodgers and Hololive, the company behind Gura and other VTubers, represents an intriguing attempt to bridge the gap between digital fandom and traditional sports. With over 4.5 million YouTube subscribers, Gura's fanbase rivals that of many sports teams.
And the Dodgers managed to win 8-5, ending a losing streak. The power of anime, everybody.
Have a great week,
Thomas
About Thomas Rice
Thomas Rice co-founded Minotaur Capital, a technology-driven, AI-led global equities fund, and is based in Sydney, Australia. He can be found on the platform-formerly-known-as-Twitter at @thomasrice_au.