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St. Joe (JOE): Company Profile, Stock Price, News, Rankings

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Amazon has been on a multibillion-dollar and decade-plus-long crusade to be a leader in robotics and drive workplace efficiency. The company has two robotics facilities in the Greater Boston Area that have become Amazon Robotics. Will Amazon’s big investment in robotics pay off and what does this mean for the future of its workers?

Fortune explores how Amazon engineers are looking to robotics to revolutionize its shipping business.

Offices are a place many employees spend countless hours, and are often core to the DNA of a company. This Fortune series goes inside some of the most innovative and coveted offices of the Fortune 500 and beyond, as the future of work is continually reshaped.



Amazon Robotics: Inside the Testing Lab Where Engineers Design the Latest Machine Learning | Fortune

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Fortune explores how Amazon engineers are looking to robotics to revolutionize its shipping business.

Amazon Robotics: Inside the Testing Lab where Engineers Design the Latest Machine Learning | Fortune

Will Amazon’s big investment in robotics pay off and what does this mean for the future of its workers?

This robot snuck up beside me. Uh oh, this is one of the primary sites where Amazon designs, tests, and builds its fleet of more than 750,000 robots. We wanted to have this visual of the engineers being able to look out the windows and say, I can see my product. I built it. I designed it here. I can go downstairs. I'm on with the test engineers. It may sound sort of like R2-D2. The decade plus multi-billion dollar investment into robotics is key to Amazon's efficiency goals, especially as the delivery behemoth faces accusations about worker safety in its fulfillment centers. Before we start talking about productivity and efficiency, we start with safety as we think about the. The within the fulfillment centers to innovate and improve, we tend to look at the most challenging tasks lifting, manipulating, moving. So will Amazon's big robotics bet pay off as humans work side by side with robots? What will this mean for Amazon's workers and the future of its shipping business? We are about an hour outside of Boston at Amazon's robotics hub. It's a relatively new facility they bought a few years ago. We're here to look at Amazon's unique approach to robotics, which is to have the entire life cycle of the project and of the products under one roof, from development to testing to manufacturing. So Joe, we're about an hour outside of Boston. What's the history of this facility? We opened this facility about 3 years ago, and you can see on this road there's a number of Amazon facilities. Our mother's site was, was the original site, which is the Boss 12 up in North Reading, and we've grown quite a bit, and we want to open another development site and so we landed in West, Massachusetts. The talented area is rich from previous, you know, generations of technology that had been up and down the corridor here. We built this about 3 years ago, you know, when we opened it, we were a little worried, you know. Would they come and they and they have come, which is pretty exciting. Amazon has two robotics sites in the greater Boston area. The North Reading location was part of the acquisition of Kiva in 2012, which then became Amazon Robotics. What's unique about this space is how many roles it houses under one roof, from designers to scientists to testing engineers. Can I drive one? Yeah. It's the result of a decision to not outsource and maintain control of the supply chain. They seem to be communicating. Their own little language. This one's got a bin. This one I'm controlling. This one has a mind of its own. I don't really know what it's doing, but it's chirping a lot, so it seems to be happy. I pursue this strategy of vertical integration of building every aspect of the supply chain and manufacturing the robots. Well, one speed, right? The thing is having anten control, full vertical is we think gives us speed, and every time you start decoupling things, you're going to lose that speed. And then you're also going to lose the insights that the other processes have or the other functions have by having it all together, that feedback loop is super tight. The second thing is innovation, right? We get lots of great insight from those other teams. So the teams that are building the manufacturing teams have a large voice into the design cycle and they influence our design, impact our design. The folks that are deploying it also here have a large voice into the impact. This is where a lot of the software development is done for these products, and you can start with an idea on a whiteboard. 9 months later you can see it all of a sudden being in a prototype in the test lab. 18 months later you see your product rolling off the line. That is like super empowering when new candidates come in and see what's the Amazon special sauce and robotics. This is it. Amazon is #7 on this year's most innovative companies list, and its robotics program is helping lead the charge on innovation. Multiple robots are developed or tested here in Westboro, fulfilling different roles from lifting to sorting to getting out of the. Way of humans. We're going to see your favorite robot, Proteus. Yeah, when we started that, there was a team of 6, and often where innovation gets stifled is when you overstaff a program too early. And sometimes the best path to success is to keep it super small with highly talented people who can move at a pace that a larger team will slow us down. Is the main thing that you're working on these arms and checking out the Proteus. So Proteus is my specialty. These are very complicated systems. And are you working on the engineering side as well, or is it? More on the testing once it's actually out here in production. So my particular job is with testing. We'd rather find problems here, get them fixed, and then push the fixed version with the improvements and updates out production in order to make the system better. What's it like working alongside robots? Oh, it's great. I really enjoy this. I've been doing this for quite a while, so I've really, really taken a liking to the robots, both the arms, the drive units, the combination of the two of them working together. Yeah, it's really fun. Robotics are gonna fundamentally change what their jobs are, right? What tasks they're doing every day. So how do you think about that? And that's super exciting too. It's creating new opportunities. I think we've all seen there's always this tension between how does impact people, and I think we've always seen that automation and technology breakthroughs create opportunities and create new jobs, and I think it's hard to argue that Amazon has not been a great job creator in almost every domain, you know, you can. but automation is still inevitably going to come with concerns over worker replacement, and I know Amazon has invested a lot more than a billion dollars in this process of upskilling or teaching new skills to workers. Do you think upskilling is the solution to fears of replacement? There are two things. We continue to grow at a very high rate and so the number of facilities, the number of jobs we're creating is been. to see. And then the second part is, yeah, the upskilling is creating new exciting jobs and opportunities for potentially a group of people that wouldn't have that opportunity. And so I think in both dimensions we're going to see growth. And it's not just upskilling that's front of mind. A Senate committee report released in December reported conditions at Amazon warehouses were unsafe and prioritized speed over safety. How much does safety play a role in your thinking about how robotics are going to Into Amazon's process, it's front and center. Before we start talking about productivity and efficiency, we start with safety. As we think about the opportunity within the fulfillment centers to innovate and improve, we tend to look at the most challenging tasks lifting, manipulating, moving things. We're excited about what we've done, and we have a new facility with some of our newer generation technology that is 10x the automation of our previous generation. Amazon is known for its relentless pursuit of efficiency and productivity. Of course they're always trying to get packages to customers faster and faster. Robotics is really key to making that happen. At the same time, safety is a huge concern for Amazon. Joe talked about how a lot of worker functions, and especially the worker functions like repetitive movements that often lead to injuries, are being replaced by robots. And I think Amazon acknowledges this, and they put a lot of investment into upskilling or this process of basically teaching workers new skills and being able to give them new jobs. I mean, whether that's successful, I think remains to be seen, and you'll still have fears of what replacement looks like for workers, but you can see that robotics really will be the future in trying to replace a lot of the different areas that we do associate with workplace injuries and risk. I asked Joe whether he did see a future in which the warehouses or the fulfillment centers would be fully automated, and I think Amazon hasn't even fully thought that through, but I think even for a company as innovative as Amazon, it's still unclear what this might look like 10 years down the road. The great thing about Amazon, it still operates in many ways like a startup has a startup mentality of speed. You're able to innovate at a speed and you don't get bogged down with bureaucracy over sometimes a big company. I mean, there have been challenging times when I was sure this thing was going to work in some way and it didn't, and the disappointment your idea just didn't pan out. But to see the impact when you go globally, our products have made to our associates that flywheel of driving customer selection, lower prices and speed, I get to see it real time and so that's been pretty it's like a once in a lifetime opportunity.

Hours after President Biden dropped out of the 2024 election and endorsed Kamala Harris, Jotaka Eaddy found herself and her organization, Win With Black Women, at the center of a 44,000 person Zoom call that raised $1.5 million for Harris. Fortune's Ruth Umoh sat down with Eaddy for an inside look at this record-breaking call and her journey in activism, business, and tech.

How Black Women Organizers Broke Zoom to Raise $1.5 Million

Politics

Hours after President Biden dropped out of the 2024 election and endorsed Kamala Harris, Jotaka Eaddy found herself and her organization, Win With Black Women, at the center of a 44,000 person Zoom call that raised $1.5 million for Harris.

Hours after President Biden endorsed Kamala Harris for the 2024 election, Jotaka Eaddy found herself at the center of a 44,000 person Zoom call that raised $1.5 million for Harris.

Cha-Ly KOH, Founder and CEO, Urbanmetry Shaun KOO, CEO and Co-founder, H3 Zoom.AI Joe XIA, CEO, Jidu Moderator: Nicholas GORDON, Editor, Asia, FORTUNE; Co-chair, Fortune Brainstorm AI Singapore

Brainstorm AI Singapore 2024: How AI Is building the cities of the future

Conferences

So Charlie first question to you. Um you know, a lot of places talked about being smart cities and the benefits from them are sometimes a little hard to recognize. Um there have been some pretty high profile failures as A I really developed as we get this new technology is the idea of the smart city now maybe coming into fruition. Thank you so much for having me today. And I think I'm really excited about the potential of A I primarily because it levels up the playing field. So for the longest time, smart city was pitched as this innovative, very, very effective way of governing cities, but it was afforded only by developed nations or developed cities, right? So the four processes to achieve a smart city, data collection, data analytics, decision making and action. For the longest time, the folks who can afford data collection was really developed cities like Singapore, many parts of China, Korea today, data collection can be done at a fraction of the cost using A I for developing cities, right? So that makes it bringing it forward in terms of leveling up the playing field for these cities. But I think to, I also wanted to curb some of enthusiasm, right? So like if you think about data collection that levels it up data analytics, great. You can now use some of the A I to do that. But let's talk about a little bit in the data decision making and action is that purely able to be done by A I in this part of the region. I think we are still quite far away from that because fundamentally cities are political and there are political parts of the decision making that unfortunately, we don't trust A I or I don't foresee that we trust A I to do that completely for us. At this point. I do want to get back to this point about politics and trust. But before I do, I want to bring in Sean, you know, as someone who is doing this data collection, could you tell us a bit more about A three zoom A I and what you're trying to do? Right? So at Atrium Zoom A I, um we see ourselves as the pent of the build environment. So we provide intelligent insights and actionable outcomes for property developers, fortune 500 property management companies and engineering consultants on the entire building condition assessments, essentially maximizing the life cycle value of these assets, right? So, so that's essentially like what we do, we work with a myriad of data sources, drones off the shelf cameras and we just ingest all these data sources to provide these outcomes in a very intuitive form. Um And I want to bring in Joe now, you know, autonomous driving is another one of these terms has been talked about for a long time. You're with G do, could you explain to us kind of what exactly is G do and how it relates to Baidu? It's A I initiatives with Ernie and the Apollo Robotaxis. Where does G do fit in this network? Uh Yeah, thanks for having me. Uh I think uh uh J uh first of all J is uh we're kind of gonna start up company. We're only three years. Yeah. Um So when we found it, um we're aiming to actually developing, we call uh smart EV, it's not ev it's a smart EV, right? Um So we call our product A Robocop. Um So, um so we have a joint uh shareholders, one is back to another, the GD. Um The goal for them to come in together is, you know, for the past 10 years that have, you know, that has been like invested over 100 billion um IMB on A I technology. Um So, so it's just the right time right now for uh for us to bring those A I technology, you used to be wrong on the cloud now, we can bring that to the cloud. So, so that's why it brings us here. Um And, and, and I think it's the right time because the computing power on the car side and both on the computing side on the car side are, are right now, is big enough to supporting those air to running. For example, um A 04 used to be like, you know, a very heavy on computing on GP US and you don't, we don't have a vehicle level um chip set in order to run that on consumer. Um you know, vehicle uh not until 2000, 2023 we have or X come from, you know, came from a media. So that's why we're doing that is uh uh uh we, we, we, we, we develop a car and we in great a be A I technology like board and uh you know, TB like, you know, A I um program and uh A AL four technology, but not exactly L four. But uh how are we gonna uh firstly, um you know, kind of downgrade the L four and having customers to be able to use a high level, you know, kind of atomic driving in the city. So that's the, the purpose of the goal of, of, of ju Yeah. All right. I want to stay on this politics point now, maybe first question to you, Charlie. Um You know, I, I've read some of your commentary on this and you, and you talk about things like housing, housing affordability, big political topic. I saw your linkedin Post about diesel subsidies in Malaysia. Another big political topic. How are you, how do you see data analytics and A I and data collection interacting with the political discussions in these cities, particularly in Asian cities. No, I think for the longest time because data was so hard to collect and things become a little bit more opaque. It was very hard for a data driven decision to enter into the conversation. I'm I'm saying enter the conversation because things are moving very quickly that by the time you collect this information, it's too late, right? But today, things are so real time that the conversations and the disparity between some decision making and the data that's available becomes a little bit hard to reconcile. So I think the availability of data gives a lot of transparency in terms of what are, what are people really being motivated by, by doing certain decisions, right? So the diesel point that I made on linkedin was that we are consciously thinking about how we are building a city very far away and that in itself is a conscious decision on how much we're spending to transport our logistics. So while we are solving it with ev while we're solving it with efficiency of A I, shouldn't. We also use this to plan in the future and reduce that today. So those are the part of using the data collection using A I will help us bring that point forward to be part of the conversation. Not really to dictate it, but at least participate in, there's also a risk that, you know, people can interpret the data, how they wish in ways that support certain conclusions. I mean, what's the risk of people then misinterpreting that data and thus worsening the political debate over a certain issue, I think uh that's always the case with any kind of data and however you um you collect them, right? And I think a lot of times people are really afraid of using data A I to do analytics because of biases, right? But I think it is even worse if you don't have the data available for people to not be able to actually drill down to to to even question the data. Data transparency is very, very important and the ability to allow general folks actually criticize that data, I think is step one. I want to go back to Sean now, you know, when, when drones were kind of the next big thing in tech, you know, they were cheap, they're vous they were everywhere and then we all got distracted by something else. Um You know, the two, you know, what else can drones help us do in terms of urban planning? And then how do you manage people's perception of those drones? They may worry about them being invasive, they may be worrying about personal privacy. So how do you chart that balance in terms of taking advantage of what drones can do? But also making sure urban populations aren't scared by fleets of drones like data on them, right? So, so, so that's actually a very good question. So, so obviously, um I think there's a lot of fixation on drones as being like the next big thing, but obviously, you know, through sort of conversations with partners, customers as well as industry um um stakeholders um at the end of the day, um what the the data, right that is being collected by drones, be it whether it's for construction monitoring, uh for asset inspection, for precision agriculture. Um what the industry and the customers really do care about are the insights, right? What are um actionable outcomes and what can um A I algorithms um that have been developed, you know, how, how can they actually interpret some of these unstructured data? Right? So, so I think the the the the perception definitely has changed over time. Um And, you know, from, you know, from my perspective, uh you know, being in, in, in, in the business for like close to 10 years now, um the sort of evolution of acquisition has also been extended to ground robotics, wall robotics. Um because, you know, the end client, what they really value and care about are outcomes that would drive the decision making processes, right? So I think in terms of governance around the data collection um and security aspect, I mean, there are, you know, existing guard rails um that um that are in place, right? So obviously there are algorithms out there that could, you know, mask uh faces windows, um you know, number plates, et cetera to sort of appease um and uh appease some of those like regulatory requirements. On the other hand, you know, there are um you know IO standards um that, you know, can be built right within um the uh the system level, right, in terms of data, encryption, sovereignty, etcetera, so that there are definitely like best practices out there, right? So, I mean, in short, I guess to drive home, the point is um you know, the the the the end the end outcome of being able to interpret the unstructured data to drive the business decisions are the true sort of a testament of what the industry and the clients are actually be looking over for. All right, one more politics question, then we'll move back to safer territory. Um You know, so Apollo's Robotaxis investors have been very excited about those, but I know that led to some controversy in Wuhan from people worried about how they will affect jobs. And you know, how do you, how should cities manage that transition as more stuff gets automated? How do they manage the human labor that, that gets affected from that new technology? Yeah. II I think uh uh just, just quickly answer the question. Um It's still far, it's still, you know, too early to think about that, right? Because uh um you know, uh Baidu has like started developing autonomous driving since 2013, um like 11 years ago. So the government under actually the supervised supervision of the government. Right. Um So, so, you know, started from a single vehicle, a few vehicles on a single road, you know, all the way to now, you know, uh just to be clear, not until last year. Um you know, um um um 40 L four robot taxi is not allowed in China to operate in the government just open that up last year. And, and, and then really with a small scale, not a large scale, talk about Wuhan Wuhan has over like 40,000, you know, taxi and, and, and the L four road taxi right now is only like 405 100. It's very small amount of road taxi. I think it's still under trial, the government, it's not, it's not there. It's not like the next day they're gonna be like thousands of hundreds of thousands of, you know, p in the road, right. It's, it's, it's still, you know, too early to, to worry about that. Right. I mean, still it's still a trial and, and, and, and most importantly, I think every time there's an evolution of technology it's going to open another window up, right? And you think about it years ago when we talk about, you know, um um you know, those robots on car manufacturing lines right. People thought like we're going to lose, lose our jobs, right? But turns out there's more jobs that are created because those robots, when they, those robots come in and, and, and it's actually increased the efficiency of the manufacture. And in that case, actually it makes the the sales of the car volume even bigger and it creates module, right? So, so I don't think we have to really worry about that at this stage. So automation will create more labor, I think ended up will create more, more jobs, you know, similarly on this labor point, I mean, um by, by replacing, you know, data collections, like people, you know, guys on the street with clickers, wiring the traffic with sensors. Um Yes, I mean, you will be, you'll be replacing jobs would normally go to people. How do you see that transition again? Also, especially in most of Asia where, you know, labor is probably still cheaper than capital, you know, how do you kind of get balance between labor and technology? So I think most of ASEAN is still thinking of the current situation, but A I is going to be built for the next 50 years, it's not going to be for today. So if you are thinking of your population as the next, of course, everybody needs a job. But is it for the job today or the job for the next 30 years? Do you want to be a guy standing there doing the quicker or the guy who's actually designing the A I system, who's counting the cars. So governments are actually in the position right now to make a call around the transitioning towards the higher value jobs in which you can actually create the value in the next 2030 years and not having to worry about stagnation, right? So stagnation is something that we should worry about today and taking the the step of actually using A I as augmented uh you know, help for you to, to do that is going to be a good system. I think um Sean, I do want to bring in the sustainability point, you know, making cities more climate friendly. Obviously, we're in a region of the world that's going to be affected by climate change. How will these technologies make cities more sustainable? Right. So, so obviously, um basically, the build environment is kind of like the bedrock of urban city centers. Um Obviously, you know, if you're using like robotics and you know, drone platforms, et cetera, um there are a lot of direct benefits um in terms of replacement of having to like ferry workers on site specifically in Southeast Asia, right? Because we still rely on a lot of low skilled foreign workers that are, you know, you know, essentially building the buildings and the city centers like from ground up, right? So obviously, in terms of carbon emissions, there are like indirect impacts on transportation that's one in terms of the data aspect of things by being able to plug into various data sources within building management systems. HV AC. There there is a potential to also reduce the carbon emissions from buildings, right? So 30% of carbon emissions today, you know, they come from buildings, right? So if we can reduce sort of like the footprint, in terms of how buildings function today through some of these insights, then it would, you know, empower architects and designers to design more sustainable buildings and essence, right? So, so that's how we, you know, how, how I see, you know, sustainability, I want to squeeze in a couple more quick questions for the time. We've got Joe, you were also previously before g do you were the co founder of Mobike, you know, bike sharing app, bi bike sharing service. What's the lesson from that experience that you think applies in terms of data and urban planning? Yeah, we actually um so, so people are just simply think Mobike is um bike sharing and we just dump bicycle on the road without thinking, right? And actually not, we're actually utilizing a lot of data. Um So um we actually work with a lot of transportation um research organization in China. So what we're doing is we're actually using the bicycle riding hotspot um like map called map and, and combine that with bus and taxi and those like, you know, ride hiring, you know, see how these, those three different types of transportation is gonna make up the whole transportation system for the, for the city. So we actually help the government to re replanning, replan their bus station because of the bike sharing, right? Because sometimes the last mile can be, can be covered by back sharing. And we actually use those data. Well, well, it's anonymous data, right? Um you know, work with, with government like combine those three system like data from different systems and and and use that for urban, you know, kind of planning, you know, to make people's like life in the city more easier. Yeah, super last word Charlie, how much is this like the game sim? So like the games in city, when you interact with the city, there will be an effect, right? I think the most of the time people forget that the people protest too. So I think if you remove, if you increase taxes and you start monitoring everybody, there is a danger as well of pushing them too far, they start going on to the streets, right? So I think as much as we love A I and data and data collection, we have to be wary that being in a city and being in a urban setting, it is a political thing and decision makers can use it to assist in collection of data and the data analytics. But beyond that, I think we do have to be worried about it. OK. Last time we got, please join me in taking all of our speakers.

Presenter: Serena CESAREO, Senior Researcher, Tortoise Media

Brainstorm AI Singapore 2024: A Global Scorecard

Hello everyone. So the Global A I Index first launched in 2019 and has been updated four times since then. And it's essentially a big data led exercise that ultimately ranks over 60 countries based on artificial intelligence capacity. And before I go into the findings, uh I just want to say that since I've been working on it with brilliant uh data scientist, Joe White on the project, it's been just wonderful to see the amount of interest that this project gets from both academia and policymakers around the world who we know use our index to inform their national A I strategies and decision, which is amazing for us. And so in terms of its structure, we collect indicators uh data sorry, over 111 different indicators that we organize across three pillars and seven pillars that cover everything from research to development, talent, infrastructure, operating environment, government strategy and commercial ecosystem. In terms of the ranking uh for the latest iteration of the index, these are the top 10 nations and we see that the US ranks first on all pillars of the index and really leads by a strong margin compared to everyone else China comes second and it's the only country to get close to challenging the US in some areas. And Singapore comes third and Singapore ranks really well on all capita indicators. So all indicators um that kind of measure A I capacity uh in relation to the country's population and and uh economy size. And this is a good example for how a country that is perhaps smaller in terms of population and economy um can really outperform on A I and is uh a really strong and dynamic A I hub like Singapore is and talking about smaller economies, we are able to differentiate between intensity and scale as part of our index analysis. And we're able to do so by isolating per capita indicators. So like I said earlier, we don't just look at for example, the sheer number of data scientists in our country, but we also look at the number of data scientists in relation to the country's population. And by doing this, we see that uh Singapore tops the list when it comes to intensity. Uh but there are other countries like Israel, Switzerland, Sweden, Korea, Finland, and a few others that really outperform on A I. Despite being smaller countries, when we look at scale, obviously the US and China lead the rankings and I know I have to wrap up soon. But given that the 2024 edition of the index will launch in less than two months. I thought I'd give some preliminary findings from the the new iteration. And I've selected a couple of indicators that I thought were most interesting uh also make it regionally relevant to Asia given the opportunity today. And so this is the first one and this is from our com uh commercial ecosystem sub pillar. Um And this is looking at private investment in A I and we can see that Asia excluding China makes up 2.6% of global private investment in A I, which is very much dominated by the US as we can see here, which I think uh makes up around 66%. Uh then China is around 9%. Uh And the rest of Asia is 2.6% and it has been declining uh slightly over the past couple of years, whereas China and the US have been growing and so zooming in on uh Asia. Um this is uh a private investment in A I in the region. Again, excluding China is dominated by Singapore, Korea and India and Japan to a lesser extent. Um although yes, it has been declining over the past couple of years as you can see more clearly here. And then lastly, in terms of talent, this is a new indicator that we have in the index which is looking at the retention rate. Uh so looking at talent retention and not just talent growth, um and we're able to access data from a company called Dey Uh and this is showing that Singapore's capacity for retaining talent in A I has remained relatively stable over the past few years compared to um I guess other countries in the region like Korea, Japan and Taiwan, although its overall capacity, despite being quite high, around 70% is a little bit lower than that of other countries in the region which gets gets closer to 8 80%. Sorry. And so this is it for me, stay tuned for the September 2024 launch with more and improved indicators with an expanded list of countries as well. Um And yeah, look out for the new index on the Tortas media website and I'll hand over that to Ellie. Thank you so much.

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