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IBM’s Watson Goes To Africa
IBM has detailed plans to apply its Watson supercomputer the critical development issues facing Africa.
The machine is capable of holding more intelligent conversations than most Big Brother contestants, and in 2011 it beat human contestants on the US TV game show Jeopardy.
However, in Africa it will be used to help solve the pressing problems facing the continent such as agricultural patterns and famine relief.
The initiative, named Project Lucy after the earliest human remains discovered on the continent, will take 10 years and is expected to cost $100m.
“I believe it will spur a whole era of innovation for entrepreneurs here,” IBM CEO Ginni Rometty told delegates at a conference on Wednesday.
“Data… needs to be refined. It will determine undisputed winners and losers across every industry.”
The technology will be used to find ways to enable the developing world to leapfrog over stages of development that have hitherto been too expensive.
One example cited was Nigeria, where two companies have already committed to use Project Lucy to analyse the poorly maintained road system and determine project priorities for repair.
IBM recently announced that it will invest $1bn to spin off Watson into a separate business unit, however this could be quite a gamble as Reuters reported that although Watson has proved to be a quantum leap, it has yet to make any significant money for the company, netting less than $100m in the past three years.
Is E-Commerce Next For Facebook?
April 13, 2012 by admin
Filed under Around The Net
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A group of e-commerce start-ups, backed by some of the tech world’s most respected financiers, are hoping that Facebook Inc will become an e-commerce powerhouse to rival Amazon.com Inc and eBay Inc.
As the world’s largest social network moves toward a $5 billion initial public offering, it will come under more pressure from Wall Street to generate new sources of profit growth and reduce its reliance on advertising, which accounted for 85 percent of its 2011 revenue.
Some entrepreneurs and investors increasingly think “f-commerce” – meaning e-commerce on Facebook – is the answer. Start-ups such as BeachMint, Yardsellr, Oodle and Fab.com are coming up with novel ways to persuade Facebook users to not just connect with friends on the social network, but to shop as well.
Backed by tens of millions of dollars from venture capital firms like Accel Partners and Andreessen Horowitz, and other big investors like Goldman Sachs, these start-ups are pushing out shopping apps, hosting online garage sales and testing out new business models on Facebook.
“E-commerce is a huge category with very strong tailwinds and it’s a natural move for Facebook,” said Sam Schwerin of Millennium Technology Value Partners, which owns Facebook shares and has a stake in BeachMint.
Amazon revolutionized online shopping by crunching lots of customer and purchase data to come up with relevant, personalized recommendations. In the same vein, Facebook’s combination of data, analytics and payment technology could fuel the next generation of e-commerce, Schwerin said.