Amazon Grows To More Than 750,000 Robots

TRADE NEWS

Russia-India Pioneering The BRICS Pay Revolution Over SWIFT

In a significant move within the BRICS alliance, Russia and India have embarked on a strategic partnership, primarily focusing on developing a robust digital economy. This collaboration, announced amidst the ongoing expansion and increasing influence of the BRICS bloc, signals a major shift in the global economic landscape.

The partnership was highlighted by Sergey Cheremin, Minister of the Moscow City Government and Chairman of the Board of the Business Council for Cooperation with India, during the Smart Cities India Expo program. Emphasizing the shared vision of both nations, Cheremin outlined the goal to create state-of-the-art infrastructure and a safe, efficient urban environment. The cornerstone of this alliance is the advancement in information technology and digital economy sectors, with both countries aspiring to become global leaders in these domains.

A critical aspect of this partnership is the integration and promotion of the BRICS Pay system, an initiative set to challenge the dominance of the Western SWIFT payment system. Launched in late 2023, BRICS Pay represents a significant step in the bloc's long-term strategy of de-dollarization, offering a BRICS-centric alternative to the global financial infrastructure.

The Russia-India digital economy partnership, in tandem with the implementation of BRICS Pay, not only enhances the economic ties between these two nations but also positions them at the forefront of a digital revolution within the BRICS alliance. This move could potentially reshape global financial transactions and reduce dependence on traditional Western financial systems, marking a new era in the global economic order.

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Every Global Trade Chokepoint Explained

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GLOBAL TRADE SNIPPETS

New legislation paving way for Washington to seize $300 billion of Russian assets. Russian central bank assets have been frozen by the EU, United States, Japan, and Canada since Russia invaded Ukraine, with only 5 to 6 billion located in the US.

How chaos in the Red Sea is putting the U.S. Navy to the test. Although the Navy has invested heavily in anti-air technology, including most notably the Aegis combat system for the past several decades, the most effective missiles are also the most expensive. Shooting down drones that cost $20,000 with a Standard Missile that cost over $2 million is an expensive task.

Chinese startup introduces innovative nuclear battery. In a groundbreaking move, Beijing-based startup, Betavolt, has introduced a nuclear battery that claims to generate electricity for an astounding 50 years without the need for charging or maintenance.

INNOVATION NEWS

Amazon Grows To More Than 750,000 Robots

Amazon's rapid integration of robotics into its operations exemplifies the massive scale at which the robotics industry is evolving. A decade ago, Amazon's warehouses hardly featured any robots. However, this scenario has drastically changed over the years, with a remarkable growth in their robot workforce which now exceeds 750,000 robots.

This exponential increase, particularly the addition of 400,000 robots in the last two years, indicates a significant shift towards automated processes in Amazon's operations. The company has not only been deploying new robots at a rapid pace but also innovating in the field. Their latest advancements in AI and robotics, like the autonomous mobile robot Proteus and the robotic handling systems Cardinal and Sparrow, showcase a commitment to improving efficiency and safety in their facilities.

Moreover, Amazon's foray into more sophisticated robotics like the humanoid robot Digit, developed in partnership with Agility Robotics, and its intelligent system Sparrow, highlights the company's continuous innovation. These advancements not only optimize the supply chain but also open up new possibilities for human-robot collaboration in workspace settings.

As we enter this new era of robotics and intelligence, the challenge lies in the vast re-skilling and up-skilling efforts needed for the workforce. The rapid technological advancements in AI and robotics are reshaping job requirements and creating new opportunities for high-skilled work. This transition demands a strategic approach to workforce development, ensuring that employees are equipped with the necessary skills to thrive in an increasingly automated world. See clip here.

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