Machine Learning Is Your Future
We undergoing a boom in machine learning and AI technology on a grandiose scale and I endeavor to be positioned to benefit from it in every way. In addition to owning shares of some of the companies leading this change, I have also been on the lookout the past 12 months for new applications for this technology. Granted, I am no expert in Machine Learning or AI, not even close, but do not need be. Gone are the days of needing a PHD in machine learning and a team of computer scientists to put together algorithms to make predictions. The likes of AMZN and GOOGL have made it easy via platforms like AWS and GCP, offering their sage technology to the general public.
Reflecting on my conversation yesterday with my seafood partners in Japan, I was told something rather profound and game-changing that stuck with me. Up until now, seafood distributors and bulk-buyers would go to local markets where fishermen would gather and bid for catches of fish. The markets serve to connect buyers and sellers and they would make do with whatever the catch was for the season. This system has gone on unchanged for many decades because it works, so why change it?
Enter Machine Learning.
Armed with fancy new devices called iPads and machine learning algorithms, said fishermen now board their ships with confidence about their day’s catch. By inputting scores of data into their newfound machines – fish swim patterns by season dating back many decades – these savvy fishermen know exactly where those fish are likely to be swimming at any given time and simply head out there, scoop them up, and head back. This cuts their time out at sea and crew costs down to 1/5 for some. Imagine, rather than spending a $100 per expedition, you only now spend $20.
It didn’t stop there.
Thinking further, these fishermen simply said ‘fuck those markets’. Since they know precisely when and where their catch will be, they simply call up their good clients and say, ‘we know you need XX fish. We can get it by XX date, so lets strike a deal.’ Such is the next generation of doing business out on the sea, and as luck would have it, our team in Hokkaido happens to be on the benefiting end of that change.
My point is simple. If fishermen, one of the oldest industries on God’s green earth, can figure out a way to revolutionize their industry using ML & AI, I’d be remiss if I couldn’t think of a new application elsewhere.
Global fish watching, courtesy of GOOGL