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Mitsubishi’s Successfully Develops Crowd Surveillance A.I.

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Mitsubishi Electric has developed a system using artificial intelligence technology that can monitor crowds and pick out particular individuals.

Applications for the system include scanning commercial areas for people acting suspiciously or simply needing assistance.

The Japanese electronics maker said the video-based system utilizes deep learning technology, through which a computer can learn the characteristics of specific objects.

The company hopes to market the system by the 2020 Tokyo Olympics, when huge numbers of visitors are expected to descend on the Japanese capital.

The system monitors video feeds from security cameras and detects individuals that fit predetermined characteristics automatically and in real time. It can detect, for example, someone carrying a suspicious item, such as a plastic fuel can, someone pushing a stroller or an elderly person walking with a cane. It can also recognize specific movements so that it can alert security personnel to someone walking erratically.

One demonstration video shows several people walking. As soon as a person with a fuel can comes into view, the system highlights them with a white rectangular frame.

Hidenobu Kanda, chief of Mitsubishi’s security systems department, said the use of deep learning technology makes programming easier to define attributes for people with specific characteristics.

In order to be able to recognize a stroller, the system first memorizes images taken of the object from various angles. Using this knowledge, it can automatically spot someone pushing a stroller passing in front of the security camera. Precision in detecting a specific image improves as the system builds on previous experience.

Conventional image recognition systems, in contrast, need to learn many more details of the objects’ characteristics, necessitating complex programming. In the case of a person, it would need to first learn that a human pedestrian is an object with a width-to-height ratio of 2-to-8 that moves at a speed of about 20kph at the most, and so on. It would then need to learn the details of the stroller before it can recognize a person pushing it.

Mitsubishi said its system is particularly useful in commercial facilities and event venues, enabling crowd-management staff to come to the aid of people who need assistance or security guards to monitor people acting suspiciously. The electronics maker wants to introduce system by Tokyo Olympics. Mitsubishi also eyes other applications for the system. In a joint effort with researchers from the University of Tokyo, the company is developing an image-analysis system that predicts how congested different routes between an event venue and the nearest station will become. For this, the company plans to use the AI crowd monitoring system to extract a demographic profile of pedestrians so that organizers can address the different needs of attendees.

Although Mitsubishi aims for a commercial introduction of the system by 2020, some issues remain to be solved.

One is the question of where to set the degree of detection precision amid varied needs expected by customers. Although facility owners will want a high precision when it comes to detecting specific individuals entering a venue, detecting individuals acting suspiciously will require a different level of precision.

Kanda said the company would need to feed more data into the deep-learning system to raise accuracy, but this will result in higher costs.

In terms of the number of images the system needs to learn, Kanda said opinions are divided among the development team with some saying 100 to 1,000 images per object would be enough, while others insist on over 10,000 images.

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Money

Bitcoin is a Bubble – Here’s Why

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Humans are considered rational beings. Every once in a while greed and exuberance trumps rationale we end up with a Bubble. Bitcoin is a bubble and it will fall precipitously. Here’s why:

Some Economics

Value of any product is arrived at through a process that matches demand and supply. If there is a lot of demand for a product and few people offering it, the price go up. There is a greater perceived value for it since the supply is limited — Everyone who wants it, cannot have it. The vice versa is also true. But as with most things in life there are certain exceptions to this rule. High-end luxury products have an aspirational value and hence the higher the price the higher the demand tends to be. These are called Veblen goods. There are also Giffin goods where this effect is seen with inferior goods.

Either way, in all of these cases price is a consequence of consumption.

There is another case where prices can be made to rise artificially, through hoarding and creating artificial scarcity. The hoarder buys large quantity of a good and waits for the price to rise high enough before beginning to sell it slowly to the actual consumer at an elevated price.

Markets play an essential role is matching demand and supply, which results in price discovery. Markets are the price discovery platform that most of us depend on. We have markets for everything, stocks, currency, commodity, bonds, etc. Most of these trades take place through instruments that are representative of the same. Stock is a company is represented by shares — Stock here represents the assets of a company and the ownership is attributed through shares. There are similar trading instruments for everything that is traded.

The place where this trade is managed, which I referred to an a market earlier, is known as an Exchange. An exchange is where trades are executed and the instruments change hands between the buyer and the seller. The job of an exchange is to provide a framework, to regulate and enable the trade to take place.

Blockchain

Let us say you have a Rs. 10/- currency note. You take this note and buy tea from a tea stall. He in turn takes the note and pays for the fuel bill. He in turns takes the note and pays the school fees for his child. The note has been used for several transactions but we do not know where it originated from and how many hands it changed. If this note were an online token we could track it all the way through.

If there are a set number of tokens in circulation and each of the token can be tracked, there is no way that any fake token can be introduced without changing the total number of token in the system. Furthermore if an anomaly is found, it can be quickly tracked back to its origin.

A Blockchain is a chain of records which are called Blocks. Each block represents one transaction and hence the entire history of an single instrument can be tracked from beginning to the end. A blockchain is what makes it possible for us to track every token. Research on blockchain began in 1991 but the distributed blockchain, which is the basis of all modern blockchain was invented in 2008. The distributed blockchain kept the block of records on every computer that is a part of the system. This redundancy is the secret sauce that make blockchain a phenomenal technology.

This makes it near impossible to fake any transaction because that fake transaction. It is not enough to enter a fake transaction in your own block, the same transaction needs to exist in every copy that is part of the system. Each copy is protected by public key encryption on each user’s system (If you wish to know how encryption works). If any anomaly is found, it can be quickly localized and eliminated.

Bitcoin

Bitcoin is one of the implementations of blockchain as a currency. Bitcoin tokens can be mined by solving mathematical problems, but the total supply of bitcoin available is limited by the algorithm. The more bitcoins get mined, the harder it becomes to mine further. The mathematical problems are solved using the computer but the problems take longer and longer to solve as times goes on.

Now, once you have these Bitcoins, you need a way to transact, for which bitcoin wallets exist, where these coins get stored. The wallet is your copy of the blockchain.

Some people thought, “Hey! Why not trade bitcoin?” and they created Bitcoin exchanged. Just like a stock exchange, Bitcoin is bought and sold on Bitcoin exchanges. There are several across the world and they execute bitcoin sale and purchase.

Individuals and companies have been mining bitcoins since it was introduced. Today this mining has assumed industrial scale with more and more people getting interested and mining becoming harder and harder. There are entire server farms that are being committed to mining bitcoins and in all likelihood these are being hoarded for a future date when it would likely be sold.

Value of any product finally lies in its consumption

The value of anything is down to consumers finally adopting the product and using it. This is where demand invariably arrives out of. Whether it is businesses or individuals, utilisation is the key. Keeping something does not create value unless it is an antique. Bitcoin is definitely not an antique.

Consider confirmed Bitcoin transactions per day. At its lowermost it is about 130,000 and at its peak its at about 365,000. It averages out at about 275,000 per day. Let me just add some perspective. Visa processes about 24,000 transactions per second. So in about 12 seconds Visa does the entire days worth of transactions on Bitcoin!

Although this is not a straight comparison since Visa is a method of exchanging money while Bitcoin itself is a store of value. The market capitalisation of Visa as a company stands at USD 230 Billion while that of Bitcoin stands at USD about 70 Billion dollars. A third of the value of Visa? Comparing it with gold, which is a store of value unlike Visa which is a transaction mechanism akin to Blockchain; Comex which is a commodity exchange based out Chicago (one of many across the world) does about 289,000 gold contracts per day. The number across the world would probably be in the millions, not to mention the transactions that take place through stores, banks and other means.

There are about 16,500,000 Bitcoins available today. Out of this only about 640,000 is exchanged everyday.

Hoarders will dump

I think the value ascribed to bitcoin given its abysmally small circulation is purely due to the hoarding that many are engaging in. Most of the people just buy bitcoin for the purposes of speculation.

People buy bitcoin and then they keep it. Since nobody is selling (Would you, if you know what you have is doubling in value every 6 months?) — Prices rise. People hear prices are rising — They clamor to buy. Demand rises — Price rises. Some of the early hoarders keep releasing small amounts of it.

For price to rise, the demand has to be high; this demand should be powered by consumption and not hoarding.

My take on this is that the price rise of Bitcoin is speculative. It is powered by speculators who are willing to pay more and more in the hope that prices would keep rising. The limit on the supply is additionally helpful in driving the prices up and keeping them there.

Looking into the past

There are plenty of cautionary tales of bubbles but for me the one that most closely matches this is — The Tulip Mania. Tulips by themselves had no great value.

Tulip was a unique flower and was used for royal gifting. The prices of tulips shot up suddenly on speculative purchase of tulip futures. There were, many who made money during the upsurge. After a couple of years of frenzied buying, the demand for buying newer and newer contracts seemed absent. There was no inherent value in it. Panic set in and ultimately it suddenly collapsed in Feb 1637. Within 3 months all of the value was wiped out, because there was none to begin with!

The same is true of Bitcoin today. Its not like Bitcoin is the preferred currency for transaction or that people are switching to transacting through bitcoin at unforeseen pace. A crazy number of speculators are buying into it for the sake of speculation. There is no inherent value and one day in the not so distant future people will realise it.

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About the Author 
This submitted article was written by Vivek Srinivasan and represents his personal opinions not professional advice. 
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Entrepreneurship

Can the Japanese foster Innovation?

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Loftwork Inc., FabCafe, MTRL have created a support program and open community, COURIER, which assists innovators that target the global market. A meetup and presentation based on the topic, “Which city has the most global business opportunities?” was held on recently. At the event, nine business leaders knowledgable of the various regions in Japan shared their expertise and challenges.

Thinking of new businesses, putting them into practice, and sharing those ideas—that is “COURIER”

On this day, together with FabCafe, which have opened 10 offices throughout the world, Loftwork Inc. announced the opening of its new hub for global business in Hong Kong. Furthermore, along with the opening of MTRL Hong Kong, Loftwork Inc. also announced the launch of an online platform, “Material Service (MTRL.com),” which connects material manufacturers with creators.

The launch of COURIER is closely linked to this type of activity. In the opening speech, Mitsuhiro Suwa of Loftwork, Inc. reflected on the history of Loftwork, Inc.—”We have supported the new businesses and innovation of companies, but as a matter of fact, we have not had many connections with startups,” explanining that “whether it be an entrepreneur or an intrapreneur, the situation of capital and human resources is the same even though the crowd to appeal to may differ. If both sides share their information and network and complement one another, there is an opportunity to create a synergy effect.”

If we can utilize FabCafe as a platform for startups which aim to expand in the global market, we can persuade executives and investors to expand their businesses and thus create more possibilities. Suwa explained how from this idea, COURIER, a community of businesses was born—a community that thinks of new ideas, puts them into practice and shares them.

Startups without a sense of purpose and preparation will only become lost

The holy ground of startups—Silicon Valley. CEO of consulting firm Pacific Sky Partners Zak Murase, while describing how “unfortunately, the Japanese do not have a presence in Silicon Valley,” provided the following analysis of why Silicon Valley is known as the holy ground of startups.

<The Reasons Why Silicon Valley is the Holy Ground of Startups>

1) Great Weather
The good weather creates a welcoming atmosphere to share new ideas and start new businesses.

2) World’s Top Ecosystem
There has been a continuous cycle of achievers of success breeding new achievers since the 1960’s.

Meanwhile, the prices in general are 2.5 times those of Tokyo. This is characteristic of Silicon Valley—labor costs and cost of living are high, which can make placing a development team in Silicon Valley unrealistic. Given this situation, do startups have a chance in Silicon Valley? Murase shared the following recent topics.

– Total capital invested is generally increasing
投資件数は減少傾向だが、投資総額は増加傾向にあり、スタートアップ1件あたりの投資金額が増えている。
– General decrease in investments into seed stage startups
Investors have been actively investing in seed stage startups which are performing well, showing how they are carefully selecting where they are investing.
– The influence of the “Big 5” is overwhelming
Even if startups are able to innovate, they are either acquired by the “Big 5,” Facebook, Amazon, Microsoft, Google and Apple, or are completely crushed.

With that said, what do the Japanese need in order to perform well in Silicon Valley? Murase finishes by highlighting the 3 points below.

<Preparing to Enter Silicon Valley>
1. Hold a clear sense of purpose
2. Prepare to settle down in Silicon Valley
3. Slowly create a reputation and build trust

The key to promotion is to connect with local media and local people

Next, CEO of Network Communications Corp., Naoko Okada explained the business situation in Washington D.C., where her business holds an office. She emphasized how the city provides a suitable environment for startups—there are many security startups, rate of growth of entrepreneurs is number one in the U.S., the restaurant industry is booming, the city is undertaking a project to become a smart city (Smarter DC Project), the local embassy and chambers of commerce give strong support.

As for her specialty in global P.R., she explains, “Business and P.R. are closely linked. Creating something that fits with the local market and conducting promotion and P.R. activities go hand-in-hand.” She continued, discussing how local media is the key to “bringing the desired information to those who want it,” especially in the context of local promotion of products and services. She claims, “It is important to connect with locals, members of the community, people of the embassy, people in media and local executives. In order to do this, startups must disclose themselves and send out information.”

Case study: What is the methodology behind bringing Japanese goods and services overseas?

Tomohiko Nihonyanagi of Loftwork, Inc. raised the example of the “MORE THAN PROJECT,” a project which has supported the overseas expansion into 21 countries for the production of the “JAPAN brand.” He emphasized, “Bringing products and services overseas means bringing products and services to local markets. If a business does not understand this, they cannot sell. It is important to understand which regions and markets to target, understand their lifestyles and the market trends.” He shared some specific ways to approach this issue.

<Approaches to overseas expansion>
1) Adequate understanding of the company’s products and services
2) Selecting a business partner
3) Researching local markets
4) Localization
5) Promotion within local markets

Likewise, Takuya Hotta, CEO of Culture Generation Japan Co., Ltd., described the case of how Tokyo Some-Komon was successfully arranged into a Muslim dress as a way of promoting traditional Japanese dyeing methods overseas. He provided an analysis of the keys to success.

<Reasons for Success in Local Distribution>
– Selecting a business partner
The most important thing is to match with a business partner who shares the same sense of direction and passion. Partnering with designers and distributors with existing markets can make success more likely.
– Understanding which parts to keep and which parts to change
Clearly understand constraints, costs and strengths of the company’s product.
– Conveying a philosophy
Always use the underlying passion as a base to make decisions. Do not lose your sense of purpose.

Go global with understanding of local markets and making the most of the expertise in your best team

The second section kicked off with a session by Masaru Ikeda, co-founder of THE BRIDGE and blogger. Ikeda manages a news media site for startups and knowledgable in the business situations of various countries. He points out, “Japanese startups tend to look to Asia first to expand their business, but given the level of maturity in society and infrastructure, as well as the economic conditions in these countries, many of them do not succeed.”

With this point in mind, Ikeda introduced some startup hubs (cities) that have attracted attention.

– Paris
After renovation of a railway depot, Paris became home of the world’s largest startup campus, “STARTION F.” The French president, a former investment banker, has shown his active support for startups. Paris is also well known for its richness in talent in the field of A.I..

– Tallinn
Methods of raising funds is becoming diverse. “Funderbeam,” or the use of blockchain-based technology to bring together investors and companies is extremely interesting.

– Helsinki
Birthplace of Nokia. Many hubs for research and development with major startup activity. Oulu is famous for its event where startups pitch in the frozen water of the Baltic Sea.

– Tel Aviv
Israel’s largest festival for startups, DLD Tel Aviv, is held every September. Tel Aviv has become one of the prominent startup hubs of the world.

It’s not about the “city,” but the “people” who are there

Next, Kelsey Stuart, in charge of international communication of FabCafe at Loftwork, Inc., describes how FabCafe has built a global network. She explains, “When we open a new FabCafe overseas, we don’t evaluate the ‘city,’ but we evaluate the ‘people’ who are there,” and raised the following points.

<Criteria for opening a new FabCafe overseas>
– Is there a vision for FabCafe?
– Is there past experience in digital fabrication cafes?
– Is there connection to the local creator community?
– Would FabCafe function as a creative platform?

Stuart adds, “FabCafe is not a franchise. In each country, the promoters within each region gather their resources, capital and community and manage the cafe.” She explained how FabCafe has expanded globally by gathering people who sympathize with their philosophy and share their values, ideas, brand, graphics and websites.

Short presentations by two globally expanding startups

Next, two startups that have gathered attention made presentations. With his vision of “Product for Peace,” CEO Radcliffe Takashi Onishi of the Babels inc. introduced his Q&O (Question and Opinion) service, “historie,” which provides various interpretations of society’s controversial topics. He explains, “From problems of history and international conflicts, the information out there only provides one side of the story. For this reason, society is full of people who only see things from one perspective, which can lead to conflict. As a solution, society needs a product that can line up different opinions from multiple perspectives.” Instead of a Q&A service that provides one best answer, the service collects opinions that cannot be found through a search engine or SNS and information that are not found on Wikipedia or textbooks. By making various opinions easily visible, the service aims to promote the evolution of the imagination that mankind seems to be losing.

On the other side, , CEO of DiGINEL Inc./DiGITAL ARTISAN Inc., represented a startup which offers technology services related to digital tools. As one of the new services they are preparing to launch, he introduced “OpenNail,” a nail chip service which fits each individual’s nail shape. The company created a process utilizing a 3D printer to allow creators and designers to participate in the nail design process. In the future, easily ordering a nailchip of choice on the Internet and smartphones will become a reality.

Global business leaders provide hints for startups that succeed

– Presence of the Japanese

Murase: The Japanese are well-known for their disappointing levels of English. Whereas in the U.S., people are taught to express their opinions from childhood, the Japanese believe in conformity and have a hard time being heard because they do not express themselves. In Silicon Valley, this is becoming an obstacle.

Ikeda: The Japanese try to appeal to the fact that their startup is “Japanese.” But what’s most important is what is left once that national identity is taken away.

Okada: Are the entrepreneurs being trained to properly promote themselves?

Murase: If you decide to go to Silicon Valley, you should thoroughly practice your elevator pitch. Of course, there are people who are not proficient in English but do well in Silicon Valley. Those are the people who have passion or have something unique and are able to speak with confidence. Even if their English is not perfect, their aura is what leads them to success. This is a skill, too.

– Setting up an office

Okada: Apart from problems regarding communication, it might not matter where you put an office.

Ikeda: Since SaaS and the Internet is so commonplace nowadays, it might not matter. In fact, there are many cases where a business is organized around people who are scattered throughout different locations. Expanding business by selecting cities based on their features and gathering expertise in various locations could even be a way to make better startups.

Murase: It’s not rare for startups to scatter their teams in Silicon Valley. Startups will be strong if they can create a “best team” while taking advantage of each region’s features.

– The most important thing in global expansion is “English and mindset”

Murase: English. It’s the most important thing.

Ikeda: English of course, and also a mindset. If you have lived in Japan for a few decades, what you see becomes the world to you. We can expand our possibilities just by conducting business with the awareness that there are many races and cultures in the world.

There are obstacles for the Japanese to lead the world in innovation. However, now that there are platforms out there to bring innovation to the world, the path in front of us is opening. Okada sent a powerful cheer to all of the startups that are looking to expand globally: “Japanese people, let’s get more active globally!”

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About the Author

This article was produced by Lotfwork. Through planning, production, and communication, Loftwork is a creative partner that will make business innovation a reality.see more.

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