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AI ROBOTICS AND BUSINESS - Coggle Diagram

- - - - raditional index funds are weighted by market capitalization (a passive approach).
      - Technology advancements allow for more sophisticated investment strategies.
      - Professor Lo proposes a new definition of an index fund: Transparent: Clear construction methodology. + Investable: Delivers promised returns based on the index. + Systematic: Relies on algorithms, not human intervention.
      - The concept of a "graphic equalizer" for portfolios is introduced.
      - Allows customization beyond traditional index funds (passive) or hedge funds (active).
    - - PRECISION INDEXES
        
        Precision Indexes: Personalized investment portfolios based on individual characteristics:
        
        Similar to "precision medicine" tailored to individual needs.
        
        Examples: "John Doe 30" or "Jane Smith 100" considering factors like income, age, and risk tolerance.
        
        The technology and hardware exist to create precision indexes, but the algorithms need further development.
        
        AI and active management can work together to create more sophisticated investment options for individual investors.
- - - - Delivers room service autonomously using AI for navigation.
      - Can control elevators via Wi-Fi (robot telepathy).
      - Notifies guests of delivery by calling their room phone.
  - - - Consistency: Provides reliable and predictable delivery times (around 5 minutes).
      - Cost-effective: Lowers labor costs compared to human staff.
      - Reduced workload: Frees up human staff for other tasks.
      - Guest satisfaction: Creates a unique and enjoyable experience for guests.
      - CHALLENGES
        
        Relay is designed to operate safely and interact positively in shared spaces.
        
        Traditional factory robots are unsafe for humans due to their repetitive and powerful movements.
      - Relay utilizes AI for autonomous navigation within a building.
        
        It can connect to elevators via Wi-Fi for independent floor access.
        
        Upon arrival at a guest room, Relay uses the phone to notify the guest of their delivery.
      - main benefits
        
        Consistency and Efficiency: Relay provides reliable and fast deliveries (around 5 minutes).
        
        Reduced Costs: Relay offers a cost-effective alternative to human staff.
        
        Improved Staff Efficiency: Frees up staff for other guest service tasks.
        
        Enhanced Guest Experience: Offers a unique and potentially delightful experience for guests.
- - - - Robotic Process Automation (RPA): Software that automates repetitive tasks like data entry.
      - Robo-advisors: Investment management software that provides automated financial advice.
      - BENEFITS OF SOFTWARE ROBOTS
        
        RPA:
        
        Reduces labor costs associated with repetitive tasks.
        
        Eliminates errors caused by manual data entry.
        
        Frees up human workers for more valuable tasks (differentiation strategy).
        
        When combined with AI and machine learning, creates Intelligent Process Automation (IPA) for even more complex tasks.
        
        Robo-advisors:
        
        Provides a potentially lower-cost alternative to human financial advisors.
        
        Offers automated investment management based on individual criteria (precision indexes).