Each week on a Wednesday Nikolas Badminton, Futurist highlights the top stories from the past week relating to the incredible rise of artificial intelligence and its application in society, the workplace, in cities, and in our lives.In Artificial Intelligence Bulletin – HUGE Job Losses\u00a0we see announcements from Foxconn, Gamaya, Baidu, Google, and others.Foxconn axes 60,000 jobs in one Chinese factory as robots take overThirty-five Taiwanese companies, including Apple\u2019s supplier Foxconn, spent a total of 4 billion yuan (HK$4.74 billion) on artificial intelligence last year, according to the Kunshan government\u2019s publicity department.\u201cThe Foxconn factory has reduced its employee strength from 110,000 to 50,000, thanks to the introduction of robots. It has tasted success in reduction of labour costs,\u201d said the department\u2019s head Xu Yulian.\u201cMore companies are likely to follow suit.\u201dAs many as 600 major companies in Kunshan have similar plans, according to a government survey.Via Tech in AsiaFormer McDonald’s USA CEO: $35K Robots Cheaper Than Hiring at $15 Per Hour\u201cI was at the National Restaurant Show yesterday and if you look at the robotic devices that are coming into the restaurant industry — it\u2019s cheaper to buy a $35,000 robotic arm than it is to hire an employee who\u2019s inefficient making $15 an hour bagging French fries — it\u2019s nonsense and it\u2019s very destructive and it\u2019s inflationary and it\u2019s going to cause a job loss across this country like you\u2019re not going to believe,\u201d said former McDonald\u2019s\u00a0USA CEO Ed Rensi during an interview on the FOX Business Network\u2019s Mornings with Maria.Via Fox BusinessWill AI spark a wave of job losses in banking? This what the experts thinkAdvances in AI are changing the way people interact with technology across industries. The typically conservative banking and finance sectors seem particularly ripe for some disruption.In January, tech magazine WIRED reported that a Hong Kong-based company, Aidiya, launched a hedge fund that made stock trades in U.S. equities using AI, with no human intervention required.More recently, a technology company, Numerai, which has an artificial intelligence tournament to predict the stock market, raised $1.5 million in venture capital funds. The predictions are used by a hedge fund the company created to trade in the market.Via CNBCThis Startup Is Changing Farming With Drones and AIOn Monday, a Swiss startup called Gamaya announced that it\u2019s raised 3.2 million Swiss francs ($3.2 million) to build its business around on using drones and artificial intelligence to help farmers grow their crops more efficiently and cost effectively. The funding came from the chairman and former CEO of Nestle, Peter Brabeck-Letmathe, the Sandoz Foundation (established by the son of Swiss pharmaceutical company Novartis), and Swiss venture capital firm VI Partners.Via FortuneArtificial intelligence: Getting as good as the real thingThat will change our lives, said a panel of experts Monday discussing “The State of AI” at the EmTech Digital Conference in San Francisco. And just how all companies use the Internet, they may need to start expanding their data teams.“Today, we’re in a stage where companies are hiring a chief data officer,” said Andrew Ng, the chief scientist at China’s search giant Baidu. “Maybe in the future they will hire a chief AI officer as well.”Via CNETGoogle is launching a new research project to see if computers can be truly creativeDuring the last session at Moogfest, a four-day music and technology festival, in Durham, North Carolina, Douglas Eck, a researcher on Google Brain, the company\u2019s artificial-intelligence research project, outlined a new group that\u2019s going to focus on figuring out if computers can truly create.\u00a0The group, called Magenta, will launch more publicly at the start of June, but attendees at Moogfest were given a taste of what it\u2019s going to be working on. Magenta will use TensorFlow, the machine-learning engine that Google built and opened up to the public at the end of 2015, to determine whether AI systems can be trained to create original pieces of music, art, or video.Via Quartz***Nikolas Badminton is a world-respected futurist speaker that researches, speaks, and writes about the future of work, how technology is affecting the workplace, how workers are adapting, the sharing economy, and how the world is evolving. He appears at conferences in Canada, USA, UK, and Europe.\u00a0Email him to book him for your radio, TV show, or conference.