Saudi Future Investment Initiative set to feature a robot session moderator
To be a robot moderate a session for the leaders of the world's largest investment fund forum, with more than 100 speakers from the world's leaders and financial policymakers and decision-makers, at least indicates that we are about to face a technological revolution that could eventually make the robot with its artificial intelligence superior to man.
No wonder “Sophia” the robot is set to give a keynote address at the much-anticipated Future Investment Initiative in Riyadh on Tuesday. Saudi Arabia’s Public Investment Fund (PIF) has explicitly said that the future of technology, robotics and artificial intelligence will be the essence of the Future Investment Initiative sessions.
The summit will cover vital issues, such as identifying industries which will undergo radical shifts through artificial intelligence, and how communities can experience a smooth transition of their workforce, especially that the companies might not need human capital anymore in the future.
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This confirmed the vision of the Japanese billionaire Masayoshi, who noted in his last speech that after 30 years the number of robots capable of feeling and thinking will be equal to the number of human beings.
This vision is based on the fact that the robot will perform many of today’s functions, which means that we need companies that are interested in collecting the largest amount of data to be able reach a future that rely more on machines and robots.
Most of the companies in which the Softbank vision fund invested in have something in common which is their ability to collect massive data. The Softbank vision fund was established in cooperation with the Japanese Softbank Group and Saudi PIF in alignment with Saudi Arabia's 2030 Vision.
If the Softbank vision fund aims to boost investments in the technology sector worldwide, to be the largest investment fund in the sector with investments reach $100 billion, there is a probability of establishing a fund twice the size of the current fund.
This investment philosophy justifies the recent investments of Softbank vision fund in companies, including Mapbox for Interactive Maps, and injecting $114 million into the robot manufacturer Brain Corp, based in San Diego.
Softbank vision fund has invested $160 million in Nauto, which develops auto-driving cars in Silicon Valley, in addition to participating in a $200 million financing tour with other big investors to invest in Plenty the leading company in horizontal agriculture field, and Slack company which is specialized in business soft wares.