In the hit 1980s TV series Knight Rider, David Hasselhoff’s character, Michael Knight, was a crime fighter aided by his loyal companion – not a white horse, but a sleek, black car. The Knight Industries Two Thousand, or KITT, was based on a Pontiac Firebird Trans Am. The vehicle featured a molecular-bonded shell that couldn’t be damaged, a turbo-boost mode that made it jump and, best of all, a red light in the front going back and forth and making whoosh-whoop noises.
Apparently, that was some kind of sensor that allowed the car to drive itself. That and the sophisticated AI that was capable of not only piloting said vehicle, but also dishing out witty repartee and pin-sharp sarcasm. This was a car that could drive for itself, speak for itself and, most crucially, think for itself.
Self-drive cars will take 30 years and possibly longer
Chris Urmson,
chief executive, Aurora
Fast forward to 2015, and Tesla and SpaceX-founder Elon Musk claimed self-driving cars that could go anywhere would be with us in a couple of years. The following year, Anthony Foxx, former US Secretary of Transportation, claimed that by 2021 the use of autonomous vehicles would be widespread and normalised. Also in 2016, ride-sharing company Lyft’s chief executive, John Zimmer, predicted the end of car ownership by 2025; presumably driverless taxis would be at our beck and call instead.
In actuality, private car sales are booming but not one can quite drive itself. Lyft actually sold its autonomous vehicle unit to Toyota, after four years researching and developing driverless cars. Even earlier, the company’s rival Uber sold off its equivalent subsidiary, Advanced Technologies Group, to Aurora group last December. After 30 autonomous car crashes, the final straw was a tragic fatality. Even the new owner, Aurora’s chief executive Chris Urmson, admits that it will take “30 years and possibly longer” to realise the dream of cars that drive themselves.
How is this possible, considering we already seem to be so close? After all, there are apparently five levels to full autonomy, and we’re at level four now. Here’s how it goes: in level one, cars aid the driver with things such as rear-view cameras and brake assist; in level two, cars can steer, brake and accelerate, such as with adaptive cruise control systems; in level three, cars park themselves while you freak out about how close it’s getting to the other vehicles; and level four is essentially the autopilot-style systems where you can actually take your hands off the wheel.
Level five is KITT, without the chat, invulnerability, sweeping red LED and the leaps. Indeed, it is the leap from levels four to five that has flummoxed the brightest brains in the business.
About five years ago, I attended a technical presentation by a major German car manufacturer and was told its car would recognise and identify an impressive x-number of shapes as human and therefore not kill them. Excellent.
I asked if it would recognise a person lying on the ground, say if they’d tripped and fallen. Awkward silence ensued, followed by the admission that that particular form hadn’t been programmed in; and the car would assume the shape to be a speed bump. Bad news: it’ll still run you over. Good news: it’ll do it slowly.
And there is the crux of the issue, the so-called “autonomous” drive systems at present are nothing but a set of preprogrammed scenarios. Despite all the radars, lidars, sensors, GPS data et al, which allow the car to “see”, it still can’t quite fully comprehend what it’s seeing and extrapolate the appropriate action to take. Is that a dog in the road or did a kid drop a stuffed toy? Is that van turning left across traffic, or has the driver forgotten to cancel the indicator? Does Michael want to deliberately ram that car off the road, or should the brakes be applied? Yesteryear’s fictional KITT would know; today’s factual AI is clueless.
While AI employs deep-learning algorithms and unimaginable gigs of data, there’s always going to be unexpected and bizarre situations (you’ll concur if you watch YouTube crash videos) that will befuddle its bytes, potentially panicking its programme and causing damage, injury or death in what was otherwise an avoidable incident.
The auto industry has gone as far as it can. For driverless cars, we need smart AI, and computer boffins admit that today’s iterations of the technology is no smarter than your average human toddler (now, would you let a 2-year-old drive?) and frankly far slower at learning. AI needs to be smarter than us before it can be let loose in a car, by which time it may just decide it doesn’t want to do our bidding. “KITT, I’m in trouble where are you?” “Sorry Michael, I’m taking the day off.”
Tips on buying property during a pandemic
Islay Robinson, group chief executive of mortgage broker Enness Global, offers his advice on buying property in today's market.
While many have been quick to call a market collapse, this simply isn’t what we’re seeing on the ground. Many pockets of the global property market, including London and the UAE, continue to be compelling locations to invest in real estate.
While an air of uncertainty remains, the outlook is far better than anyone could have predicted. However, it is still important to consider the wider threat posed by Covid-19 when buying bricks and mortar.
Anything with outside space, gardens and private entrances is a must and these property features will see your investment keep its value should the pandemic drag on. In contrast, flats and particularly high-rise developments are falling in popularity and investors should avoid them at all costs.
Attractive investment property can be hard to find amid strong demand and heightened buyer activity. When you do find one, be prepared to move hard and fast to secure it. If you have your finances in order, this shouldn’t be an issue.
Lenders continue to lend and rates remain at an all-time low, so utilise this. There is no point in tying up cash when you can keep this liquidity to maximise other opportunities.
Keep your head and, as always when investing, take the long-term view. External factors such as coronavirus or Brexit will present challenges in the short-term, but the long-term outlook remains strong.
Finally, keep an eye on your currency. Whenever currency fluctuations favour foreign buyers, you can bet that demand will increase, as they act to secure what is essentially a discounted property.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Results:
6.30pm: Maiden Dh165,000 2,000m - Winner: Powderhouse, Sam Hitchcott (jockey), Doug Watson (trainer)
7.05pm: Handicap Dh165,000 2,200m - Winner: Heraldic, Richard Mullen, Satish Seemar
7.40pm: Conditions Dh240,000 1,600m - Winner: Walking Thunder, Connor Beasley, Ahmed bin Harmash
8.15pm: Handicap Dh190,000 2,000m - Winner: Key Bid, Fernando Jara, Ali Rashid Al Raihe
8.50pm: The Garhoud Sprint Listed Dh265,000 1,200m - Winner: Drafted, Sam Hitchcott, Doug Watson
9.25pm: Handicap Dh170,000 1,600m - Winner: Cachao, Tadhg O’Shea, Satish Seemar
10pm: Handicap Dh190,000 1,400m - Winner: Rodaini, Connor Beasley, Ahmed bin Harmash
UAE currency: the story behind the money in your pockets
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Top 10 most polluted cities
- Bhiwadi, India
- Ghaziabad, India
- Hotan, China
- Delhi, India
- Jaunpur, India
- Faisalabad, Pakistan
- Noida, India
- Bahawalpur, Pakistan
- Peshawar, Pakistan
- Bagpat, India
More from Neighbourhood Watch:
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Director: Kaouther Ben Hania
Rating: 4/5
Scoreline:
Manchester City 1
Jesus 4'
Brighton 0
more from Janine di Giovanni
Results
Light Flyweight (49kg): Mirzakhmedov Nodirjon (UZB) beat Daniyal Sabit (KAZ) by points 5-0.
Flyweight (52kg): Zoirov Shakhobidin (UZB) beat Amit Panghol (IND) 3-2.
Bantamweight (56kg): Kharkhuu Enkh-Amar (MGL) beat Mirazizbek Mirzahalilov (UZB) 3-2.
Lightweight (60kg): Erdenebat Tsendbaatar (MGL) beat Daniyal Shahbakhsh (IRI) 5-0.
Light Welterweight (64kg): Baatarsukh Chinzorig (MGL) beat Shiva Thapa (IND) 3-2.
Welterweight (69kg): Bobo-Usmon Baturov (UZB) beat Ablaikhan Zhussupov (KAZ) RSC round-1.
Middleweight (75kg): Jafarov Saidjamshid (UZB) beat Abilkhan Amankul (KAZ) 4-1.
Light Heavyweight (81kg): Ruzmetov Dilshodbek (UZB) beat Meysam Gheshlaghi (IRI) 3-2.
Heavyweight (91kg): Sanjeet (IND) beat Vassiliy Levit (KAZ) 4-1.
Super Heavyweight ( 91kg): Jalolov Bakhodir (UZB) beat Kamshibek Kunkabayev (KAZ) 5-0.
Conflict, drought, famine
Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.
Band Aid
Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.
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360Vuz PROFILE
Date started: January 2017
Founder: Khaled Zaatarah
Based: Dubai and Los Angeles
Sector: Technology
Size: 21 employees
Funding: $7 million
Investors: Shorooq Partners, KBW Ventures, Vision Ventures, Hala Ventures, 500Startups, Plug and Play, Magnus Olsson, Samih Toukan, Jonathan Labin