The Science Thread

Value Collector · 28 April 2016

SirRumpole said:
Public confidence is the key to more automation.

.

Warren Buffet actually mentioned driverless cars as being a possible future risk to his vehicle insurance businesses.

He feels that in the future years, as driverless cars become more common place, vehicle accidents will be reduced so much, that there will be downward pressure on premium prices, reducing the float (the money he holds onto and earns interest on in between collecting it and paying claims)

________________________________

Here is an interesting video talking about the "swarm learning" of the auto pilot tesla cars, when one car learns something, it teaches the rest.

Value Collector · 28 April 2016

Craton said:
Yeah. Confidence and TRUST. Two big factors me thinks.

there is also some ethical problems to work out.

eg. if the car meets a situation where it has to choose between hitting a person or swerving and hitting a power pole which does it take.

hitting the pole will save the life of the person, but who will buy a car programed to put the occupant at more risk???

luutzu · 28 April 2016

Value Collector said:
Warren Buffet actually mentioned driverless cars as being a possible future risk to his vehicle insurance businesses.

He feels that in the future years, as driverless cars become more common place, vehicle accidents will be reduced so much, that there will be downward pressure on premium prices, reducing the float (the money he holds onto and earns interest on in between collecting it and paying claims)

________________________________

Here is an interesting video talking about the "swarm learning" of the auto pilot tesla cars, when one car learns something, it teaches the rest.

Couldn't the insurers just come up with new insurance? I bet they will.

Say, insure passengers/predestrians in case one of those many auto-piloted cars didn't see them? Jack up premium due to "increased risks" from "untested" technologies - say taxis or couriers or truck companies who automate their fleet but have no driver - that's a big risk deserving higher premiums and businesses will pay for it because they would have saved heaps on cutting plenty of payrolls head off.

It's not like insurers are, or has ever been, insuring really risky stuff. They just insure perceived risk that on average happen a couple times, at most, in an average client's lifetime.

Buffett is probably a very nice guy. But he's a capitalist... and we know how nice and honest capitalist can be.

luutzu · 28 April 2016

Value Collector said:
there is also some ethical problems to work out.

eg. if the car meets a situation where it has to choose between hitting a person or swerving and hitting a power pole which does it take.

hitting the pole will save the life of the person, but who will buy a car programed to put the occupant at more risk???

Good point.

I guess it will depends on who will pick up the tab. Probably best that we'd then not insure the car; or only insure it with companies that have no holdings in the developers of these auto-pilot.

noco · 28 April 2016

CanOz said:
I was just suggesting that maybe you could CONTRIBUTE to the main purpose of the forum? Or do you hunt out trading and investing forums to pester the f*** out of the Liberals?

NO BRAIN...NO PROBLEM FOR THAT LOW TYPE OF ACTION.

Value Collector · 28 April 2016

luutzu said:
Couldn't the insurers just come up with new insurance? I bet they will.

Say, insure passengers/predestrians in case one of those many auto-piloted cars didn't see them? Jack up premium due to "increased risks" from "untested" technologies - say taxis or couriers or truck companies who automate their fleet but have no driver - that's a big risk deserving higher premiums and businesses will pay for it because they would have saved heaps on cutting plenty of payrolls head off.

It's not like insurers are, or has ever been, insuring really risky stuff. They just insure perceived risk that on average happen a couple times, at most, in an average client's lifetime.

Buffett is probably a very nice guy. But he's a capitalist... and we know how nice and honest capitalist can be.

At the end of the day the price charged for insurance is affected by actuarials, the insurance companies compete on price very aggressively, as the actuarials begin to reflect lower and lower numbers of actual accidents occurring premiums will come down.

most insurers are in the business for the float, and accordingly charge the bare minimum for their premiums so as to sell a lot more premiums, and are ok with not earning much of an underwriting profit as long as it provides them a float and they can cover their costs and claims.

noco · 28 April 2016

orr said:
Computer science has remade the world and is continuing to... QUB's port automation; look at the struggle of the MUA just to keep the jobs they have as we speak. As this unfolds into broader logistics, we're already well down the path, the demand for labour will plummet The interstate truck drivers days are numbered.

A modern computerised rotary dairy is a model of sublime production. Herd health analysis, production per cow all integrated into broader farm management.

The French Submarine announcement... designed to be nuclear powered, ours will be diesel/electric, 30 year build programme. South Australia has its current Royal Commission into the Nuclear Fuel Cycle. A lot could change in thirty years.

The next 'Australian of the Year' is likely to believe we evolved from aliens...

Give us the Gonski reforms or give us intellectual obscurity.

And mind you there's a 'bob' in a 'Meth Lab' for the gamers.

Science so much for everyone.

But how do you plan to get it all past the Greens and the unions?

SirRumpole · 28 April 2016

noco said:
NO BRAIN...NO PROBLEM FOR THAT LOW TYPE OF ACTION.

I guess the tone of this thread had to suffer sometime.

What a shame, as it doesn't involve politics or trashing other people I didn't think it would appeal to you.

luutzu · 28 April 2016

Value Collector said:
At the end of the day the price charged for insurance is affected by actuarials, the insurance companies compete on price very aggressively, as the actuarials begin to reflect lower and lower numbers of actual accidents occurring premiums will come down.

most insurers are in the business for the float, and accordingly charge the bare minimum for their premiums so as to sell a lot more premiums, and are ok with not earning much of an underwriting profit as long as it provides them a float and they can cover their costs and claims.

Yea, that's how I'd put it too if I own or run an insurance business.

noco · 28 April 2016

SirRumpole said:
I guess the tone of this thread had to suffer sometime.

What a shame, as it doesn't involve politics or trashing other people I didn't think it would appeal to you.

OK Rumpy.....you did ask for it....But one poster suggested it would a good thread to pester the F*** out of the Liberals....I thought you wanted to keep politics out of this thread..Perhaps you should give Canoz a smack on the hand for being a naughty boy.

But on the serious side.

How about a nuclear powered car manufactured in South Australia by robots?..No unions....no strikes...No lunch breaks...No smokos.....No penalty rates.....No holiday pay...No leave loading.

What a wonderful world it would be!!!!!!!!

SirRumpole · 28 April 2016

Value Collector said:
Warren Buffet actually mentioned driverless cars as being a possible future risk to his vehicle insurance businesses.

He feels that in the future years, as driverless cars become more common place, vehicle accidents will be reduced so much, that there will be downward pressure on premium prices, reducing the float (the money he holds onto and earns interest on in between collecting it and paying claims)

Actually I think Buffet was either talking tongue in cheek or being very generous. If he thought driverless cars were a threat to his business he should have shut up and quietly sold out of insurance and bought Tesla shares.

Value Collector · 28 April 2016

Derek makes some awesome videos on you tube, where he takes a topic most people take for granted, and see's how the average person explains it, he then tries and teach the actual science behind it.

Here is his video on how the sun works.

Joe Blow · 28 April 2016

Folks, let's try and keep this thread civil and free of political debate please. There are enough other threads to discuss politics in, let's leave this one for purely science related discussion.

Value Collector · 28 April 2016

SirRumpole said:
Actually I think Buffet was either talking tongue in cheek or being very generous. If he thought driverless cars were a threat to his business he should have shut up and quietly sold out of insurance and bought Tesla shares.

you be the judge, if he is serious.

I think he is very serious.

SirRumpole · 28 April 2016

Value Collector said:
you be the judge, if he is serious.

I think he is very serious.

OK, serious and honest, good on him.

noco · 28 April 2016

Joe Blow said:
Folks, let's try and keep this thread civil and free of political debate please. There are enough other threads to discuss politics in, let's leave this one for purely science related discussion.

Yes Joe..I agree.

SirRumpole · 28 April 2016

Value Collector said:
Derek makes some awesome videos on you tube, where he takes a topic most people take for granted, and see's how the average person explains it, he then tries and teach the actual science behind it.

Here is his video on how the sun works.

Geez, can you believe how ignorant some people are ?

SirRumpole · 28 April 2016

Value Collector said:
Here is an interesting video talking about the "swarm learning" of the auto pilot tesla cars, when one car learns something, it teaches the rest.

Swarm learning is great in theory, but ripe for hacking by terrorists or the PLA.

cynic · 28 April 2016

SirRumpole said:
Geez, can you believe how ignorant some people are ?

Yes I certainly can. That video has brought up one of my pet hates, namely Einstein being credited with one of Newtons discoveries.

E=mc^2 is in fact just another way of expressing Newton's kinetic energy formula!

It is truly amazing how this is seldom noticed!

noco · 28 April 2016

Value Collector said:
Derek makes some awesome videos on you tube, where he takes a topic most people take for granted, and see's how the average person explains it, he then tries and teach the actual science behind it.

Here is his video on how the sun works.

Great post VC....Very informative.

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