DEPARTMENT OF SCIENCE & TECHNOLOGY
PHILIPPINE STATISTICS AUTHORITY
2018 BANTOG DATA MEDIA AWARDS CHAMPION
BusinessMirror
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A broader look at today’s business n
Saturday, November 10, 2018 Vol. 14 No. 31
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THE ERA OF AUTOMATED SYSTEMS AND ARTIFICIAL INTELLIGENCE HAS DAWNED UPON HUMANKIND
When robots ring the bell
ONE of Robo Global’s collaborative robots recently rang the closing bell while surrounded by company executives in a celebratory moment at the New York Stock Exchange. Robotics and automation are increasingly viewed as a productivity tool, rather than a passing fad or a cool technology for geeks to gush over. THE NEW YORK TIMES
By Janet Morrissey | The New York Times News Service
W
HEN Robo Global’s team recently gathered at the New York Stock Exchange to celebrate the fifth anniversary of its robotics index and exchange-traded fund, it marked the event in true robotic fashion: A robot, propped on a table, reached out its arm and rang the closing bell as 15 company executives applauded wildly next to it.
This clever, eye-catching gesture was aimed to show the world how easy—and increasingly common—it is for humans to work alongside robots. “It was symbolic,” said Travis Briggs, chief executive of Robo Global’s operations in the United States. “We’re in the first inning of this transition to automation and artificial intelligence [AI], and there is a massive amount of growth potential.”
Productivity booster
INDEED, robotics and automation are no longer viewed as a passing fad or a cool technology for geeks to gush over. Instead, more companies are turning to AI to boost
productivity and stay relevant in a fiercely competitive market. Experts call it the fourth industrial revolution and compare today’s robotics in the workplace to the early days of the Internet. At a recent conference hosted by Robo Global, experts showed photos and videos of robotic prototypes of all shapes and sizes: Robots that climb stairs and around corners to find an object and AIlaced pills that can retrieve foreign objects from a person’s stomach. They even included a video of a woman, with electrodes attached to her head, using thoughts to tell a robot where to place an object. “We’re starting to see robots and automated systems penetrate
every sector of the economy,” said Jeremie Capron, director of research at Robo Global. “The pace of change is really accelerating, so, yes, it’s a revolution.”
Labor threat?
ROBO Global, which researches, advises and invests in robotics, automation and AI companies, knows all about the sector’s growth. Since setting up its Robo Global Robotics & Automation Index ETF (Robo), which tracks more than 80 companies, the corporation reports that its assets have soared to $3.46 billion from $43 million its first year. Several other robotic ETFs, like iShares Robotics and Artificial Intelligence ETF (IRBO) and Global
X Robotics & Artificial Intelligence Thematic ETF (BOTZ), have since been established to tap this growing sector. The phenomenon strikes both admiration and fear into a nervous American work force: A video by Boston Dynamics, showing human-looking robots running and jumping over blocks, drew more than 5 million views on YouTube in one week this fall. Yet, many Americans, who grew up watching science fiction and Terminator movies in which robots were the enemy, worry about robots stealing their jobs. “Terminator and those kinds of images have a significant impact Continued on A2
The day the typhoon came
CHILD SURVIVORS OF YOLANDA RELIVE TRAGIC PAST, 5 YEARS LATER By Estrella Torres | Special to the BusinessMirror
A
T 10, Rafael (not his real name) witnessed the death of his father who was hit by a collapsed wall following a flash flood during Supertyphoon Yolanda (international code name Haiyan). “I was scared and crying,” Rafael told Save the Children Philippines during an interview on the eve of the fifth-year commemoration of the ty-
phoon that stunned the world with its storm surges and images of devastation—all happening just as the United Nations was hosting a meet-
PESO EXCHANGE RATES n US 52.6350
ing on climate change. Rafael knew then that they would both die if he tried to save his father. He swam through the ravaging waters overnight and fell asleep clinging to a log. “When I woke up it was a miracle because I was in another village and I saw some of my friends,” Rafael said in Filipino. He walked to an evacuation center and reunited with his mother and two siblings. The four cried together as Rafael broke the sad news of his father’s passing. Yolanda made landfall in Guian, Eastern Samar, on November 8, 2013, and caused massive Continued on A2
FAMILY-BENEFICIARY of the shelter program of Save the Children Philippines wherein families are provided with construction materials to build durable, storm-resistant homes. SAVE THE CHILDREN PHILIPPINES
n JAPAN O.4618 n UK 68.7466 n HK 6.7258 n CHINA 7.5909 n SINGAPORE 38.2772 n AUSTRALIA 38.1762 n EU 59.8039 n SAUDI ARABIA 14.0323
Source: BSP (November 9, 2018 )