Future with 5G and AIoT

By Florian Moeri, Junior Project Manager

On the evening of November 28, swissnex China hosted a joint lecture with nihub about the future impact of 5G and AIoT.

The numerous visitors were welcomed by Felix Moesner, Science Consul & CEO at swissnex China. He emphasized the importance of emerging technology and innovation, which are a major part of the efforts at swissnex. And, according to him, the future of 5G and AIoT in particular is already very near.

After the short introduction, Sergio Medyk, Product Line Manager at Nokia in China, held a presentation about 5G. This upcoming standard for mobile telecommunications service promises to be significantly faster than today's 4G technology.

To illustrate this dimension, Mr. Medyk needed the following comparison: With today's LTE technology (standard for wireless broadband communication), you can achieve a capacity of 1 GB per second. With the new 5G technology it is 10 GB per second. In addition, a much larger number of devices can be connected together. And it makes it possible to connect not only people but also things, for example robots in a factory. A keyword here - and this was often mentioned in the discussion - is "low latency". The processing of data between machine and network now works as fast as possible. This prevents accidents with automatic cars, for instance, through increased reactivity. The background is the transfer of frequency, which can be raised from 2 - 2.5 Gigahertz (LTE) to 3 - 5 Gigahertz (5G). "A physical principle: the better the frequency, the more data can be transported in less time" said Medyk.

The general structure of the network will also change: We are now trying to prioritize the various applications differently. That means “dividing the network”. Subsequently, factory machines that require low latency will be prioritized over mobile phone users, who will not experience any negative impact either way. Finally, what is important with 5G is that the network no longer runs in hardware, but in the cloud. This means that it is programmable for all conceivable purposes. And if you put AI, machine learning and 5G wireless connection together, you get a foretaste of what the future of the industry looks like. This brings us to the possibilities of mobile providers, where Nokia, for example, is taking action: offering 5G as a network which can connect not only people but everything to create new verticals that can produce new sources of revenues and new business models.

Mr. Madyk went on to show a number of use cases, e.g. a Smart airport, where a robot will soon guide passengers from the entrance to the check-in area and then to the boarding area. Or the influence of new technologies on education, also called Smart education, where remote teaching or lessons with preproduced content become possible. Or finally, the fundamental advantage of the so-called Fixed Wireless Access: a 5G Gateway, where with the new connection no more cables have to be laid. At the end of his presentation, Mr. Medyk mentioned which changes will come fastest according to him: “The first phase will be access and the second phase will be the industrial cases that become reality. For those interested in 5G and its possibilities, Nokia has developed the following public platform: https://open-ecosystem.org”.

After the basics of 5G were explained to us, Qian Hao, founder of Taro.AI spoke about the Artificial Intelligence of Things (AIoT). He did this, as well as the other speakers, in a very innovative way: he talked with a handheld microphone connected by a tracker to the tripod on which the mobile phone camera was placed. This product is an example of the product series of his company "Taro.AI": http://taro.ai.

In addition to this item they work with AI technology and transform spoken words into text. The vision is a search engine for keywords of a speech. Mr. Hao started by explaining his thoughts on the development of AIoT using keywords like "Great Company Originate from Great Episode (Big Changes). Great Episode Originate from New Dimension". He talked about the trends, included the last wave: the mobile Internet, where the key to the revolution was the "touch" factor (especially Apples iPhone display). He considers this wave as a big wave, because now it was possible to segment sources in marketing, whereas up to now 90 % has been done via TV advertising.

In contrast stands the small wave, AIoT. Small because it connects things rather than people. That's why it is especially interesting for the industry. And the technology of 5G will advance the technology of AIoT. The methodology, the distance and the service will adapt. According to Mr. Hao, in addition to the flow of people, money and things, a new dimension will emerge with the flow of robots. Every object will be connected. And with Blockchain there is even a payment method that could be used offline for selling 5G usage rights. The difficulties in rural areas and the correct handling of sensitive data will become a challenge when dealing with AIoT.

Next, Mr. Hao explained the characteristics of the interface between AIoT and 5G. Among there is the difficulty of localization in buildings, which is quite disrupted by walls and should therefore also be seen as a different scale than positioning outside. Another challenge is also the fact that in addition to the protagonist (e.g. the automatic car), its environment should also have low latency so that the technology works at its best. This is exactly where the big technology companies such as Huawei come in. In the course of the presentation, even the concept of the company as we know it was questioned, because in the future many things can be controlled centrally and remotely. Finally, the economic possibilities of the new technologies got mentioned. Focus here is not so much the already saturated market of applications, but the demand for control units: speakers and screens. Mr. Hao also made his personal prediction whereas he thinks that over the next 10 years, we will not offensively be connected but passively grabbed by the internet, especially by AIoT.

Sergio Medyk, Product Line Manager at Nokia in China, during his presentation about 5G.

Sergio Medyk, Product Line Manager at Nokia in China, during his presentation about 5G.

Qian Hao, Founder of Taro.AI and in the foreground his "AI Cameraman".

Qian Hao, Founder of Taro.AI and in the foreground his "AI Cameraman".

It was at this aspect of potential new innovation and investment that Lucas Rondez, Founder and CEO of nihub, picked up with his speech. His company also believes in the "new waves" which is why they work with startups to create opportunities and develop new technologies. They do this through strong collaboration with VALID, a Brazilian technology provider. Together they co-organize an Acceleration Program in China: https://validaccelerator.com. This program supports 5 early-stage companies working in the field of 5G and AIoT and consists of at least three employees. In addition to a special focus on increased visibility, it is also possible to generate an investment - e.g. from VALID - in addition to cash prizes. The program thus helps companies to gain a foothold in the sector. Or as Mr. Rondez puts it: "The Accelerator creates an ecosystem where VALID & nihub share knowledge and resources to innovative startups & talents to create value for tomorrow".

This is exactly where the whole range of presentations were aimed at, showing us what the current status with 5G and AIoT looks like, what the future might bring and what challenges we will be facing along the way. We would like to thank all three speakers for their fantastic presentations and also those who participated in the subsequent discussions. We are looking forward to the next event!

Lucas Rondez, Founder and CEO of nihub, on the possibility of supporting start-ups.

Lucas Rondez, Founder and CEO of nihub, on the possibility of supporting start-ups.

From Left to Right: Sergio Medyk, Product Line Manager, Nokia; Qian Hao, Founder, Taro.AI; Lucas Rondez, Founder and CEO, nihub; Felix Moesner, Science Consul & CEO, swissnex China.

From Left to Right: Sergio Medyk, Product Line Manager, Nokia; Qian Hao, Founder, Taro.AI; Lucas Rondez, Founder and CEO, nihub; Felix Moesner, Science Consul & CEO, swissnex China.

Impressive and Well-deserved: Deep Cube's success at the DeepBlue Cup A.I. Competition

By Percy Chen, Junior Project Manager Art-Science

Supported by swissnex China, Deep Cube, a leading artificial intelligence healthcare technologies startup for Dermato-Oncology and skin beauty, participated in the DeepBlue Cup International A.I. Science and Innovation Competition on August 30 and 31 during the World Artificial Intelligence Conference (WAIC) 2019. Matt Morawski, BDO and Co-Founder of Deep Cube, represented the Swiss AI startup at the competition.

DeepBlue Technology, the host of the competition, is a fast-growing company in the artificial intelligence industry focusing on the fundamental research and practical development of AIs. The DeepBlue Cup was a part of the World Artificial Intelligence Conference that is happening in Shanghai. It is thus meant to explore and connect startups that could utilize the potential of AI in unique ways. Indeed, with 40 AI startups, each covering a different and niche field such as precise farming, road disease Inspection, and power generation, the DeepBlue Cup is an intense, competitive, and simultaneously rewarding experience to all the people involved.

The DeepBlue Cup International AI Science and Innovation Competition was part of World Artificial Intelligence Conference (WAIF) 2019, taking place Aug 29 - 31 in Shanghai.

The DeepBlue Cup International AI Science and Innovation Competition was part of World Artificial Intelligence Conference (WAIF) 2019, taking place Aug 29 - 31 in Shanghai.

Matt Morawski, BDO and Co-Founder of Deep Cube introducing his team.

Matt Morawski, BDO and Co-Founder of Deep Cube introducing his team.

The first day of the competition had ups and downs. Matt Morawski, the speaker of DeepCube, was met with technical issues during the presentation: the slides displayed garbled characters. Despite the difficulty, Matt calmly explained the situation and continued his pitch. His eloquence, combined with his winning smile, charisma, and determination on stage, helped deliver a clear vision to the judges. As a result, DeepCube advanced to the final round and eventually won the second place out of 40 startups at the main event and out of 600 startups that applied to the competition. Matt and his team received 10,000 RMB as well as direct meetings with potential investors — an amazing feat indeed.

Matt Morawski holding the 10,000 RMB check and the winning certificate.

Matt Morawski holding the 10,000 RMB check and the winning certificate.

We would like to congratulate DeepCube for its impressive journey this weekend! We would also like to thank both DeepBlue and DeepCube for this unique experience with various interesting AI startups. Living in this period of rapid change, most of us are certain that the AI paradigm shift will transform almost all aspects of ordinary lives and even the fundamental fabric of society. How much can we push the technology? And how much more will we see in the next decade is a sight to behold.

Visit to the World’s Most Valuable AI Startup Unicorn Together with S&TDC

By Priska Furrer, Junior Project Manager

On February 25, swissnex China joined a visit of the Science & Technology Diplomatic Circle to the world’s most valuable artificial intelligence startup unicorn SenseTime. SenseTime focuses on computer vision and deep learning and is valued US$6 billion. SenseTime leads the market in almost all vertical industries, including smart city, smartphone, mobile internet, online entertainment, automobile, finance, retail, education, real estate, and so forth. The company boasts more than 700 customers and partners in China and overseas, including world-renowned institutions and companies such as Massachusetts Institute of Technology, Qualcomm, NVIDIA, Honda Motors, Alibaba Group, Suning, China Mobile, China UnionPay, wanda, Huawei, Xiaomi Technology, OPPO, vivo, orWeibo Corporation. It also established the National Open Innovation Platform for Next-Generation Artificial Intelligence on Intelligent Vision. The future plan is to extend its Shanghai base to host 3000 employees and accommodate the largest of 5 supercomputers with 30’000 GPUs. Already now, an impressive 250 PhDs in AI are working for SenseTime.

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AI and Robotics: Discerning between Hype and Reality

On June 26, swissnex China invited the world-renowned roboticist and futurist, Dr. Rolf Pfeifer, to share his profound insights in the field of artificial intelligence, robotics and automation. Dr. Pfeifer is currently Visiting Chair Professor at Shanghai Jiao Tong University, China, and he is a scientific consultant for “Living with Robots” Ltd. Moreover, he is co-founder of the National Robotics Center in Switzerland. 

Dr. Pfeifer shared his deep insights on AI and robotics with the audience at our Living with Robots event on June 26, 2018.

Dr. Pfeifer shared his deep insights on AI and robotics with the audience at our Living with Robots event on June 26, 2018.

Our CEO Dr. Felix Moesner opened the lecture by warmly welcoming Dr. Pfeifer and a full-house audience, which included representatives from top academic institutions, blue-chip companies and venture capitalists. Dr. Pfeifer took the stage and underlined the importance of bridging the gap between the academia and the public, especially with the rampant "Robotic Hype" in public media. The sheer scale of AI and Robotics-related projects has been astounding, backed up by substantial investments from leading institutions, organizations and nations. 

Dr. Pfeifer then presented the history and design process of social and service robots, illustrating his points with his Roboy project as an example. He argued that the AI Hype largely concerns so-called “deep neural networks”, or deep learning, exemplified by AlphaGo’s spectacular wins over the world champion Lee Sedol in 2016. In passing, Dr. Pfeifer also stressed the importance of materials in robotics, using the "Thimbles-Experiment" as an example.

The audience was mesmerized by Dr. Pfeifer's deep insights throughout his eloquent lecture.

The audience was mesmerized by Dr. Pfeifer's deep insights throughout his eloquent lecture.

Last but least, Dr. Pfeifer presented to the audience his innovative new ROBOLOUNGE project, which is a conceptual café / lounge where robots rather than human staff look after the clients. The venue will allow customers to have a unique futuristic experience where one can expect to have a tactile close encounter with robots. In closing, Dr. Pfeifer reiterated the challenges of pitching robotics-related projects given the gap between public expectation and reality, and offered some special advice and insight on the topic.

Dr. Pfeifer's presentation clearly affirms the image that “Switzerland is the Silicon Valley of Robotics” as stated by Chris Anderson, former editor at WIRED magazine in 2017. The audience, mesmerized by his poignant lecture, were keen to pepper him with questions in the Q&A session and connect with him after the event. 


We would like to express our special thanks to Dr. Pfeifer for sharing with us his deep insight on AI and robotics and for bringing his passionate fervor on the subject to our lively evening event. His impressive talk was punctuated by spontaneous applauses. We are also grateful to SwissCham China Shanghai's Digital Committee (Gianna Abegg), the University of Zurich Alumni Shanghai Chapter, and the ETH Zurich Alumni Shanghai Chapter for their collaboration for the event.

Artificial Intelligence in WealthTech – Great success for the 2nd edition of the Future of Money Series by swissnex China

By Valentin Beuchat, Junior Project Leader

swissnex China launched the second edition of the “Future of Money” series in China.

【 Click to Play the Video 】


The disruptive force of new algorithms and big data seems to reach the financial world and is forcing the latter to innovate, primarily as a response to the 2008 global financial crisis. Switzerland is at the cutting edge of FinTech and has gained interest around the world, including China. Combined with Artificial Intelligence (AI), the potential is enormous, and swissnex China has set itself the goal to put the spotlight on the Swiss FinTech scene. So stay tuned to find out the swissnex China story about AI in WealthTech and how we connect the dots between Switzerland and China and continues to build an active community to discuss the future trends in FinTech.

Picture 1 : Shanghai, April 9

Picture 1 : Shanghai, April 9

Picture 2 : Shanghai, April 9

Picture 2 : Shanghai, April 9

AI is the power of a machine capable of replicating an intelligent human behavior and can then learn and make predictions based on data. This automation process is used to assess client risk profiles and allocate and rebalance portfolios. Not only can AI monitor the risks, but it can also mitigate them at an early stage. Moreover, AI technology allows a dynamic segmentation of clients based on parameters such as behavior or risk aversion, identifies product opportunities, provides portfolio decisions and personalized client dashboards with performance analysis, and delivers tailored reports, news, and alerts to mention few examples. This new core technology lowers fees, enables real-time portfolio rebalancing and portfolio transparency with easily understood products, and minimizes - and even possibly removes – human intervention. All these disruptive FinTech features is a way to serve and acquire investors of today and tomorrow, in other words, the millennial investors.

What does this imply for the traditional banking system? What are the scientific underpinnings of this innovation of “FinTech”? How is crowd and data intelligence going to change the relationship between financial institutions and customer? Are traditional portfolio management, decision making, and risk taking replaced by artificial intelligence?

These and many other key questions about the future of this innovation were the focus of a panel discussion of both Swiss and Chinese academics and opinion leaders in the framework of the second edition of the Future of Money series, which took place from April 9-11 in Shanghai, Beijing, and Hong Kong.

Picture 3 : Shanghai, April 9

Picture 3 : Shanghai, April 9

The Swiss expert panelists included Dr. Thomas Puschmann, Founder and Head of the Swiss FinTech Innovation Lab at the University of Zurich, and Alexandre Gaillard, CEO and Founder of InvestGlass and General Secretary of the Swiss Chinese Chamber of Commerce Geneva. Dr. Puschmann gave the audience a taste of the origin of both artificial intelligence and FinTech topics and where the research is standing nowadays with its leads for the future. On the other hand, Mr. Gaillard shared exciting insights and comparisons about the traditional wealth management industry, as he is a former private banker, and the new technology-driven bank services, as an entrepreneur with his startup. Having perspectives from the public and private sector were enriching, as opportunities and challenges are not the same, but overall both experts highlighted the Swiss FinTech landscape for its dynamism and innovation, and that Switzerland is perceived as a leading nation when talking about finance.

Picture 4 : Shanghai, April 9

Picture 4 : Shanghai, April 9

In addition to the two Swiss speakers who participated in the three megalopolis conferences in Shanghai, Beijing, and Hong Kong, several more experts and opinions leaders joined the panel in each city. In Shanghai, Frank Wang, Managing Director of CreditEase Wealth Management, and Dr. Ming Liao, Adjunct Professor of Business & Economics at NYU Shanghai, explained where China stands in the field and gave concrete examples based on their own working experience. The panel was moderated by Jerome Eger, Managing Director China of Ginmon, a financial service company providing automatically managed ETF portfolio.

The next day in Beijing, Tao Lei, CEO & Founder of BeagleData, and Ling Huang, Adjunct Professor in Tsinghua University and CEO & Founder of AHI Fintech Inc., joined the panel discussion. They shared and interacted with the audience about topics such as the dilemma between the quantity and quality of data gathered by AI machines and the data security for customers. The moderation was greatly done by our Swiss expert Alexandre Gaillard.

Picture 5 : Beijing, April 10

Picture 5 : Beijing, April 10

Picture 6 : Hong Kong, April 11

Picture 6 : Hong Kong, April 11

The last stage in Hong Kong welcomed Cat Rüst, Head of Innovation Technologies at UBS Wealth Management Greater China, Gerardo Salandra, CEO of Rocketbots and co-chair of the AI society of Hong Kong, and the moderator Desmond Marshall, country MD for The Floor in Asia. The panel discussion was oriented towards topics including, but were not limited to, the requirements of WealthTech developments in Switzerland and Asia, the significant differences and similarities, the decision-making power of machines, the integration process of AI for financial institutions and its challenges, and of course the customer needs and its role within the whole investing process.

Many interesting and sometimes challenging interrogations were raised during the three events from the 379 highly-focused audience: how will traditional portfolio management, decision making, and risk taking be replaced by AI? Does the customer need that much of AI to handle its wealth? Am I not the best person to make decisions on my own? Does this technology help me making a decision or does it make one for me? What will happen in 5 years? Is AI technology a game changer and will it be mass-adopted in the finance industry?

In the framework of these events, it is also an excellent opportunity for various institutions representatives to connect, exchange, and build some potential partnerships for the future. At least one company is seriously considering setting up its activities in Switzerland, the main reason being its attractive and stable regulatory system regarding the FinTech scene. This story would be a tangible example of how swissnex China contributes to the creation of value in Switzerland and abroad by connecting the right people at the right place when organizing these kinds of events.

Overall, AI in WealthTech is still at an early stage, but rapid improvements are transforming the financial services landscape, which implies opportunities but also challenges. Key players have already identified the emergence of the trend, and new business models are being developed to integrate this cutting-edge technology.

Picture 7 : Hong Kong, April 11

Picture 7 : Hong Kong, April 11

Testimonials

“It was a great honor to be invited by swissnex China, as a speaker on Artificial Intelligence in WealthTech. Great interest from a huge crowd from different countries.” Frank Wang, Managing Director of CreditEase Wealth Management

“Today I’m very excited actually to have the opportunity to learn a lot more about AI regarding Wealthtech in Switzerland and what is new there.” Jerome Eger, Managing Director China of Ginmon.

“Many thanks to swissnex to meet with Chinese investors, business owners, and bankers.” Alexandre Gaillard, CEO and Founder of InvestGlass and General Secretary of the Swiss Chinese Chamber of Commerce Geneva

“I’m excited to be here to discuss with some representatives from Shanghai and also from Switzerland and to draw comparisons and find similarities among two countries.” Dr. Thomas Puschmann, Founder and Head of the Swiss FinTech Innovation Lab at the University of Zurich

“Very excited to be able to be talking to other people from Switzerland and have participants from all types of nationalities to really address where the trend is going and what we could benefit from.” Cat Rüst, Head of Innovation Technologies at UBS Wealth Management Greater China

“Great to be around here because we’re talking about AI in WealthTech, which is definitely the next trend in terms of FinTech.” Desmond Marshall, country MD for The Floor in Asia

Sponsors

This second edition of the Future of Money series would not have been possible without the generous contribution of our sponsors. Many thanks to them and please find some more information below:

Presence Switzerland: Presence Switzerland is competent for the image of Switzerland abroad and implements the strategy of the Federal Council on Switzerland’s communication abroad >> website.

Greater Zurich Area: As the international contact partner for promotion and marketing of the Greater Zurich area economic region, Greater Zurich Area AG (GZA) acts as a liaison between international companies looking to settle in the area and local interests and requirements >> website.

SF Innovation Center: SF Innovation Center is an industrial transformation and upgrading demonstration base and international innovation enterprise center established by SF Group - one of China’s leading comprehensive service providers of express logistics. It integrates the Commercialization Center of Research Findings, Innovation Incubation Center, Brand & Hi-tech Experience Center, Supply-chain Finance Center, E-commerce Advanced Business Park HQ Base and Enterprise Innovation Service Platform. SF Innovation Center is dedicated to linking global industrial innovation Resources to promote industrial development >> website.

Synpulse: Synpulse is an established, globally active management consulting company and a valued partner to renowned international financial services companies >> website.

Squirro: Squirro is a modern cognitive insights engine that uses predictive analytics, machine learning and more to enable you to turn even unstructured data into actions >> website.

CryptoEasy: CryptoEasy is your personal crypto advisor to cover your entire investment journey as a due-diligent investor >> website.