🌬️ Ireland's Wind Energy Future, 🧠 AI Movie Mind-Reading, and 🤖 China's Military Robots
🌬️ Ireland's Wind Energy Future, 🧠 AI Movie Mind-Reading, and 🤖 China's Military Robots
Thomas's Innovation Wrap #84
Greetings (and Happy Financial New Year to Australians!),
Here’s your weekly wrap of technology, innovation, and finance news.
💎 Artificial Intelligence
A recent study shows how AI can decode brain activity to determine what part of a movie someone is watching, offering insights into how our brains process and store memories in real-time. The research suggests that while many neurons activate when seeing a character, only a small, changing subset actually encode the memory.
New Scientist reports on a $1 million prize challenge for AI that can solve puzzles easy for humans but difficult for current AI models. The competition aims to encourage development of AI with more human-like reasoning capabilities, rather than relying on pattern recognition from large datasets.
"It is testing something very important, which is the ability of systems to deal with novelty," says Thomas Dietterich at Oregon State University. "When you look at large language models, they're basically memorising, and maybe generalising from all this historical material they've read. But that doesn't necessarily prepare them for novelty."
Synthesia is set to launch full-bodied AI avatars, promising a future where your digital doppelganger can dance, gesticulate, and potentially steal your job with far more realism than ever before.
"It's very impressive. No one else is able to do that," says Jack Saunders, a researcher at the University of Bath, who was not involved in Synthesia's work.
Illia Polosukhin, co-author of the influential transformer paper that kicked off the current wave of AI, reflects on the origins and impact of this groundbreaking technology.
We started working on language, and this is kind of what I worked at Google on. But we see it not just on, you know, images, videos, sound, audio, but also on DNA, on time series, on predicting kind of, uh, you know, purchasing behavior in credit card companies. So I think it's really exciting to see kind of how general it is and how scalable it end up being.
💻 Chips and Computing
Several tech companies are making significant bets on AI. SK Hynix plans to invest a massive 103 trillion won (A$113 billion) by 2028, with 80% of new funding focused on AI chips. Meanwhile, startups are entering the fray, with Axelera AI's CEO Fabrizio del Maffeo securing $68 million to develop edge AI chips, and Etched's founder raising $120 million to expand production of their Sohu AI chip. Even ByteDance is getting involved, partnering with Broadcom to develop a cutting-edge AI chip that could power TikTok's algorithms.
The 5 nanometer chip—a customized product known as an application-specific integrated chip (ASIC) – would be compliant with U.S. export restrictions and manufacturing work would be outsourced to Taiwan's TSMC, the sources added.
China is also making strides in chip technology, but faces a significant hurdle: ASML's monopoly on EUV tools, crucial for producing the most advanced chips. In response, Huawei is constructing a massive R&D facility near Shanghai, aiming to develop their own cutting-edge chipmaking equipment. This ambitious project seeks to overcome Western sanctions and close the technological gap.
Both semiconductor manufacturing firms can only get their hands on the 28nm lithography systems, putting them at a severe disadvantage when compared with the United States. The other problem is that 90 percent of this market is controlled by ASML, which is why Huawei is pursuing this R&D facility development.
Diraq, an Australian quantum computing startup, has raised $33 million to develop a quantum computer using qubits a million times smaller than its rivals. The company's recent breakthrough in qubit accuracy puts it on track to potentially beat larger competitors to market.
"We would have been happy with 99, to tell you the truth. We were very delighted to get to three nines," he said.
💊 Health
Formation Bio has raised $372 million to advance its AI-powered drug development platform, bringing its total funding to over $600 million. The company is leveraging AI to streamline clinical trials and improve R&D decision-making, with the goal of making drug development faster and more efficient.
GeneCker, a Korean startup, has developed a groundbreaking liquid biopsy technology that can detect early-stage cancer with unprecedented accuracy. Their CRISPincette HARMONY product uses gene editing to selectively remove normal cell DNA, allowing for the detection of cancer cell fragments at concentrations as low as 0.01%.
CEO Yesung stated, "If the sensitivity of US companies in detecting cancer cells through blood-based diagnosis is around 0.1%, our product is 10 times better at 0.01%." Sensitivity refers to the accuracy of detecting people with the disease.
Eli Lilly is partnering with OpenAI to develop new antimicrobials for drug-resistant pathogens, leveraging AI to accelerate drug discovery.
"Generative AI opens a new opportunity to accelerate the discovery of novel antimicrobials and the development of custom, purpose-built technologies in the battle against drug-resistant pathogens."
Artificial intelligence has shown promising results in detecting prostate cancer, outperforming human radiologists in accuracy and reducing false positives.
Gizmodo reports on several promising next-generation treatments for weight loss on the horizon that could outperform current options like Ozempic and Wegovy. These new drugs combine different hormones to potentially achieve greater weight loss with fewer side effects.
Researchers are also exploring how drugs like Ozempic and Wegovy not only lead to weight loss, but also seem to reduce intrusive thoughts about food for many users. This "quieting of food noise" effect is driving new research into how these drugs act on the brain.
"All of a sudden it was like some part of my brain that was always there just went quiet," she says. Her eating habits improved, and her anxiety eased. "It felt almost surreal to put an injector against my leg and have happen in 48 hours what decades of intervention could not accomplish," she says.
A new ultrasound system can precisely alter activity in deep brain regions without surgery, improving on existing non-invasive methods.
Scientific American reports on a new phase of advanced meditation research that explores how deep meditative states can alter consciousness and our fundamental sense of self. This "third wave" of research goes beyond stress reduction, examining potential applications for mental health treatment and psychological transformation.
Although meditation can help people improve their psychological well-being, it also can be a gateway to experiences that lead to deep psychological transformation.
🌞 Clean Energy
Real Engineering explores Ireland's wind energy potential, detailing the technical challenges of wind turbines and grid integration. The video highlights innovative solutions like massive flywheels for grid stability and plans for a green hydrogen economy, showcasing how Ireland could become a renewable energy powerhouse.
WSJ reports on an ambitious project aims to connect Moroccan renewable energy to the UK via a 2,500-mile subsea power cable. This plan exemplifies a growing trend: sourcing clean energy from distant, resource-rich locations to power far-off population centres. As offshore wind and long-distance power transmission expand, demand for specialised subsea cables is surging, with suppliers reportedly sold out for years to come.
Norway is pushing ahead with plans to become the first country to start commercial deep-sea mining, offering Arctic blocks for exploration despite environmental concerns. The government aims to award permits by early 2025, citing the need for minerals to support the green energy transition.
"The world needs minerals for the green transition, and the government wants to explore if it is possible to extract seabed minerals in a sustainable manner from the Norwegian continental shelf," Energy Minister Terje Aasland said in a statement.
Sila, a rechargable-battery startup, has raised $375 million to develop silicon-based anodes that could significantly improve EV range and charging speed. This technology could also help automakers qualify for EV tax credits by reducing reliance on Chinese-made graphite.
"There's a really big graphite problem" in the U.S., said Chief Executive Gene Berdichevsky. "Sila can absolutely solve it."
💲 Finance
Morgan Stanley is rolling out Debrief, an AI assistant powered by OpenAI's GPT-4, to help its financial advisers increase efficiency. The tool will sit in on client meetings, summarise key points, and draft follow-up emails, potentially freeing up advisors to spend more time engaging with clients.
Jeff McMillan, Morgan Stanley's head of firmwide artificial intelligence, told CNBC that "the quality and depth of the notes" taken by Debrief are "significantly better" than those by analysts.
Volkswagen and Rivian have announced a $5 billion partnership aimed at combining Rivian's EV software expertise with Volkswagen's manufacturing scale. While this deal provides Rivian with much-needed cash, investors remain sceptical about Volkswagen's ability to efficiently allocate capital and streamline operations. Rivian stock briefly spiked 50% before giving most of it back over the rest of the week.
VentureBeat reports on Zip's AI procurement platform, which has driven $4.4 billion in savings for enterprises since 2020.
The platform integrates with OpenAI’s technology to power its AI features. However, Zaparde emphasizes that Zip’s value lies in its enterprise-grade capabilities and focus on user experience. “We’ve sort of set the standard and created a category for intake and orchestration in the enterprise,” he said.
Melbourne-based AI firm Affinda Group has raised $10 million at a $120 million valuation, doubling its worth in just 18 months. The company, run by brothers Ben and Tim Toner, has attracted high-profile investors and major clients with its document processing and comparison software.
Clario, a software provider for clinical trials, is planning to go public next year with a valuation target exceeding $10 billion. The company's success in facilitating drug approvals highlights the growing importance of technology in pharmaceutical research.
The company has worked with pharmaceutical firms, biotechs and medical device companies on 26,000 clinical trials that have led to 800 drug approvals, according to its website.
Animoca Brands, a major player in the blockchain gaming space, is considering an IPO as early as late 2025.
🤖 Robotics
China is making swift progress in developing autonomous military robots, with experts predicting deployment within two years. This advancement outpaces Western efforts and could significantly alter the landscape of future conflicts, potentially ushering in a new era of AI-powered warfare.
"I would be surprised if we don't see autonomous machines coming out of China within two years," Francis Tusa, a leading defence analyst, told National Security News. He added that China was developing new AI-powered ships, submarines, and aircraft at a "dizzying rate."
Scientists have developed a smiling robot face using human skin, bridging the gap between technology and biology while taking a scenic detour through the uncanny valley.
The living tissue is a cultured mix of human skin cells grown in a collagen scaffold and placed on top of a 3D-printed resin base. Unlike previous similar experiments, the skin also contains the equivalent of the ligaments that, in humans and other animals, are buried in the layer of tissue beneath the skin, holding it in place and giving it incredible strength and flexibility.
🔬 Biology
Australian researchers are leveraging AI to combat Devil Facial Tumor 2, a transmissible cancer threatening Tasmanian devils. This innovative approach combines remote cameras with AI image processing to rapidly identify diseased individuals, potentially revolutionizing wildlife disease management globally.
"This technology is a game-changer," Dr. Hamede said. Our AI software can rapidly process images of Tasmanian devils captured by the cameras through a three-step process.
Bridge editing, a new DNA-editing technique discovered in bacteria, could potentially allow for much larger and more precise genomic alterations than current CRISPR-based methods. This exciting development might enable us to reshape entire genomes, opening up new possibilities in genetic engineering and medicine.
"We're excited about the potential to do much broader genomic changes beyond what we can currently do with CRISPR," he says. "We think this is an important step towards the broader vision of genome design."
⚙️ Mobility
Waymo has expanded its robotaxi service to all users in San Francisco, following a successful rollout in Phoenix.
Uber Freight and Aurora Innovation have announced a long-term partnership to integrate autonomous trucking technology into Uber's freight network. This collaboration could help address industry challenges like labor shortages while allowing Uber to leverage its investment in self-driving technology.
The goal for Uber Freight, the logistics business spun out of Uber in 2018, is to connect its shipping customers with a technology that purports to solve many issues in trucking today, including labor shortages and underutilized fleets.
CATL, the world's leading EV battery manufacturer, has successfully test flown a 4-ton electric aircraft and aims to have a commercial electric aircraft with a range of up to 3,000 kilometres ready by 2028.
Even futuristic battery-electric airliner concepts like the Elysian E9X promise no more than 1,000 km (621 miles), and we're not seeing range promises anywhere near this even using liquid hydrogen fuel – so if CATL can do what it claims, this is indeed a giant leap in aviation technology.
🛰️ Space
SpaceX won a $843 million contract to become the world's most expensive demolition crew, tasked with ensuring the ISS goes out with a bang, not a rain of space junk over Bondi.
The demolition will shove the iconic and enormous station down through Earth’s atmosphere in a fiery display. And if anything goes wrong, a cascade of debris could rain down on our planet’s surface.
The Economist writes about the growing market for satellite EMP protection, where "nuclear-event detectors" are the hot new accessory for the well-dressed spacecraft.
Strictly speaking, it is not the emp itself that ruins circuitry. Rather, the radiation and excited particles switch on microchip transistors all at once, and the resulting voltage surge from the hardware's power supply does the frying. This means that if a satellite's power can be shut down before the brunt of an emp arrives, the system may well survive.
China's Chang'e-6 mission has successfully retrieved the first-ever soil samples from the far side of the Moon, marking another milestone in China's lunar exploration program. Scientists are eager to study these samples for clues about the Moon's origins and evolution, particularly regarding the South Pole-Aitken Basin.
Researchers hope the samples will contain traces of the impact melt produced during the formation of the South Pole-Aitkin Basin. Dating that material could help resolve the question of whether Earth and the Moon underwent a heavy asteroid bombardment about 4 billion years ago.
⚡ Other Snippets
MIT Technology Review writes that China's dominance in commercial drones, led by DJI, has become a global security concern. The article explores how China's manufacturing prowess and policy support have made it difficult for other countries to compete, raising worries about drone availability in potential conflicts.
"The actions taken against DJI suggest protectionism and undermine the principles of fair competition and an open market. The Countering CCP Drones Act risks setting a dangerous precedent, where unfounded allegations dictate public policy, potentially jeopardizing the economic well-being of the US," DJI told MIT Technology Review in an emailed statement.
New Scientist discusses three innovative solutions to fashion's environmental problems: Unspun's 3D weaving technology for on-demand clothing production, Solena's AI-designed protein-based fabrics, and PACT's fish scale-derived leather alternative. These ideas aim to reduce waste, energy consumption, and the industry's overall environmental impact.
Enter Unspun, a US start-up that has invented what it says is the first 3D weaving technology for clothing. Its brainchild is the Vega machine, a loom that turns thread into fabric, but rather than a flat cloth emerging from one end, the device weaves in a circle to produce tubes of cloth.
Slovenian innovators have created a security system that pelts burglars with paint. It's the perfect solution for those who find regular alarms too subtle and want their intruders colour-coded.
The purpose of the paintballs is to facilitate the identification of intruders by the police. However, the legality of the system in the U.S. is uncertain, as it could be classified as a "booby trap," which is illegal under U.S. law, as reported by CNET.
Researchers have developed an AI that can identify "brilliant" chess moves, potentially leading to more entertaining AI opponents and insights into human game appreciation. Soon, we'll be able to lose to computers with style.
"If it's the case that the path through the tree is really narrow, then that means you needed to have had a plan. The plan needed you to look really far ahead," says Guerzhoy. "You'll have to go really deep in the tree to see that this is actually a successful strategy. That is something that people would find to be kind of aesthetically appealing."
CNBC unpacked YouTube's streaming dominance, fueled by free content and 150M monthly connected TV viewers.
More than a billion hours of YouTube content is watched on TVs every day, with 150 million connected TV viewers tuning in each month, the amount of YouTube creators who say the majority of their watch time comes from TV climbed more than 400% in just three years.
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.