The Consumer Electronics Show (CES,) one of the largest tech shows held at Las Vegas every January, hosts over 180,000 people with ideas, innovations and new creations fit for a future world! With artificial intelligence (AI) playing the central theme at the show, different startups and tech establishments told us where technology is heading toward in the coming years. From self driving suitcases to flying taxis, here’s taking a look all the inventions which were on display at the CES this year!
1. Ovis Luggage
Developed by a Chinese company called Forward X Robotics, the idea behind Ovis Luggage is to help carry your luggage around without having to put in any physical effort. By using facial recognition and movement tracking algorithms, the bags come fully equipped with cameras which track the surroundings perfectly. To amp up the excitement level, the bags have also been designed to stick to their owners at the speed of 6 miles per hour and through the movement tracking algorithms, they can also avoid colliding into people beyond a certain radius! If by chance the bag does go missing, you can track the suitcase by using the inbuilt GPS system! Priced at $ 799, the bags are expected to go on sale within the next few months.
2. Lenovo Smart Clock
A little over a year after announcing their first invention together, Google and Lenovo came back with another cutting edge invention called the Lenovo Smart Clock. The AI enabled smart clock comes with touch sensors and is designed to map your schedule from sunrise to sunset. Starting half an hour before your alarm is scheduled to ring, the smart clock also functions as a Google smart speaker, which means the clock can send music and podcasts (among other things) to your phone through Chromecast. Priced at $ 80, the smart clock will go on sale this spring!
3. Obsbot Tail AI Camera
While the last major innovative improvement (when it came to cameras,) was in the form of the 360 degrees video, the CES summit saw a new breakthrough in this field. China based startup Obsbot built a camera which uses artificial intelligence in the best way possible. Called the Tail, not only can this camera take extremely smooth pictures and videos, it identifies subjects in the shoot and tracks them using AI. With the ability to switch without friction between different models, this camera is perfect for people looking at making videos without the requirement of someone operating the camera manually. Equipped with the ability to shoot up to 4K/60 fps videos and to support HDR 10, the Tail is going to be priced at $ 500 and will be available at Kickstarter.
4. Riding High
At a time when ride sharing cabs like Ola, Uber and Lyft are at the peak of their performance levels, it comes as no surprise, people are looking at creating new ways of sharing rides. A partner of Uber, Bell Helicopters, launched a brand new flying taxi called Nexus Air Taxi. AI empowered, the taxi will seat four passengers and a pilot and will have a range of 150 miles, with the highest speed being 150 mph. Expected to launch next year, the Nexus is looking at being available in major cities by mid 2020.
5. Magic Mirror
Looking at yourself in the mirror and checking yourself out can never be boring! Developed by Electric Mirror Inc., in Everett, Washington, the Savvy Smart Mirror is perhaps the most interesting development in this mix. Designed to resemble a massive touchscreen, the Savvy Smart Mirror is not only a looking glass, but also can be used to show weather reports, play music and connect to your social media accounts as well. Apart from the other features available, the Savvy Smart Mirror also lets you control and adjust the thermostat controls in your room. Initially designed for hotels, the mirror is also going to be designed for homes. Priced at a whopping $ 2,500, the mirror is expected to go on the market soon.
With so many exciting innovations being introduced, the year is definitely dedicated to innovation and creations. What invention are you looking forward to owning the most? Comment and let us know!
Binny Bansal Sells ₹531 Crore Worth Flipkart Shares To Walmart
Binny Bansal, an Indian billionaire, entrepreneur and co founder of the e-commerce website Flipkart, sold $ 76.4 million worth of his shares in Flipkart to Walmart’s Luxembourg entity FIT Holdings SARL.
Binny Bansal, along with his partner Sachin Bansal, co founded the Flipkart and served as its Chief Executive Officer until January 2016.
Walmart, a multinational retail corporation, bought Flipkart in 2018 and back then, Bansal sold a small portion of his shares and held 3.85 % of stake.
Now, according to the documents filed by Flipkart with the regulators, Binny Bansal transferred 539,912 equity shares to FIT Holdings SARL. These shares are valued to be $ 76.4 million (approximately Rs. 531 crores.) This latest deal left him with only 3.52 % stake in Flipkart.
Vivek Durai, the founder of Paper.vc, a business intelligence platform, said, “With this transfer, Binny Bansal has monetised a small portion of his shareholdings. He had sold 1,122,433 shares for about $ 159 million during the Walmart takeover.”
According to his contract with Walmart, Binny Bansal is entitled to sell more than half of his shares to Walmart by August 2020 and he could gain around $ 400 million from this transaction.
Bansal, who is mostly based in Singapore, is now an investor in India’s startup ecosystem and is also the co founder of xto10X Technologies, which was launched last year.
In December 2018, Binny Bansal invested a sprawling $ 25 million dollars in the online insurance startup Acko. He also invested in several AI and healthtech startups.
Facebook Reveals Details Of Its Cryptocurrency Libra
On the 18th of June, Facebook revealed details of its brand new cryptocurrency called Libra. An alternative to cash, this cryptocoin can be used to buy things or send money to people with close to no fees. The cryptocurrency is going to be launched by an association called The Libra Association, which consists of a group of companies interested in getting Libra out into the world.
You can use Libra to buy or cash out your Libra at local stores like grocery stores and through third party wallet apps. To make using Libra an easier task, Facebook owned Calibra Wallet will be built into WhatsApp and Messenger, thereby simplifying transaction processes. Although certain countries have banned the use of cryptocurrencies, Facebook is trying to break new ground with the launch of Libra.
While Facebook is launching Libra, the social media giant is not going to be in complete control of the cryptocoin. The coin will be controlled by a consortium consisting of its founding members, Visa, Uber and Andreessen Horowitz. The three companies have invested at least $ 10 million each into the creation of this cryptocurrency.
Customers interested in holding or transferring the newly acquired token will be given multiple options to do what they wish. To further simplify matters, Facebook will let customers access transactions through this cryptocurrency via a special app designed for iOS and Android.
To protect the identity of its users while making transactions through the new app, Facebook won’t require you to share personal details. “The advent of the internet and mobile broadband has empowered billions of people globally to have access to the world’s knowledge and information, high fidelity communication, and a wide range of lowercost, more convenient services,” the Libra Association said in a paper announcing the cryptocurrency.
Libra will be made available to the world during the first half of 2020. As of now, Facebook is focusing on building relationships in international waters.
Stay tuned for more updates.
Facebook Invests In Indian Startup Meesho
On the 13th of June, social media giant Facebook announced, it invested an undisclosed amount in Indian startup Meesho.
A Bengaluru based startup, Meesho works with resellers and emerging brands using social media. This is the first time Facebook invested in a startup based in India. Through this investment, Facebook aims to increase its commitment to the Country’s vibrant internet ecosystem.
“Facebook is an ally for India’s economic growth and social development. We are excited about India and its rapidly rising Internet ecosystem. With this investment in Meesho, we want to fuel a business model that can result in rapid job creation and the rise of a female entrepreneurial class in India,” Ajit Mohan, the Managing Director of Facebook India, said in a statement.
It was two primary factors which made Facebook invest in Meesho. The first reason was how the startup is growing outside the Tier II and III cities, where new users are present. The second reason is, Meesho has a larger user base, 80 % of which are women.
So far, Meesho has raised $ 50 million from a Series C funding round in November last year. According to industry reports, the startup helps people using its service earn close to Rs. 25,000 every month! With WhatsApp playing a crucial role in the app’s growth, it comes as an added blessing that Facebook invested in this particular startup.
Through investments like these, Facebook is capitalizing on the social media boom happening in India.
Stay tuned for more updates.
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