Employing machines to work like humans and perform tasks efficiently has gone further from mere imagination. Though machines that collaborate with the human workforce have been around for decades, the inception of Artificial Intelligence (AI) has improved its functionality.
AI equips machines with cognitive capabilities, enabling them to perform mundane tasks for an enterprise and process data like humans. Human-like robots have changed the corporate landscape dynamics, contributing to new opportunities for investors and workers. Since AI is a supportive technology, integrating it into your organisation brings convenience.
Figure AI is an excellent startup with multiple tech giants at its backend, helping it develop advanced humanoid machines to elevate the top-notch function of AI and its applications for businesses and manufacturing. Among the top tech companies investing millions of dollars into the newly emerged AI startup include Jeff Bezos-owned Explore Investments LLC and Amazon, NVIDIA, Microsoft, OpenAI, and so on.
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Figure AI – A Closer Look
In an ecosystem where the labour is coming short of competitive workers, Figure AI Incorporation stands out as the leading small business that aims to reduce unfilled vacancies through autonomous humanoid workers. Statista suggests a space for over 932 thousand workers in the UK and invites workers to join and contribute to taking the British economy to new heights.
The UK and the global market face a shortage of workers, stopping them from scaling their financial well-being. It is when Figure AI stepped into the AI robots in 2022 with a promising mission to fill the gaps. It initiated a fundraising campaign to design and devise Figure 01, its one-of-a-kind human-like robot.
Figure 01 is an AI-driven and self-dependent machine that will work effectively, outperforming human potential without costing deep pockets. Moreover, it aims to contribute an autonomous machine for technically challenging manufacturing and goods production tasks. Therefore, Figure AI stands out to global investors with its ambition and productive services in the AI landscape.
Top Insights to Know About Figure AI
With a young and passionate team, attracting tech conglomerates to invest in Figure AI is an excellent achievement for the founder and CEO, Brett Adcock. By strategically incorporating AI into robotics, Figure AI is positively impacting the size of the global market. Click here to learn about AI-powered robots.
As it brings innovations, Figure AI prioritises responsible AI with essential ethical considerations. From humanoids to collaborating with some of the advanced tech companies, it tends to benefit from three corporate opportunities, including physical labour, consumer household, and space exploration.
By bringing business automation, it fills vacancies in physical labour with intelligent machines, offering highly structured and less variable outcomes. The amount of funds that the new startup raised can support it in developing multiple contributions.
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Humanoid Robots Development
The manufacturing industry has seen a remarkable place for introducing robotics with AI capabilities to devise intelligent machines, safeguarding complex and unsafe factory tasks. With its plan to modify its humanoid robot Figure 01, Figure AI will give enterprises a rich experience.
The robot stands tall and efficient, with 5 feet and 6 inches in height and a speed of 1.2 miles per second. Therefore, it is the best commercially capable intelligent machine for heavy workloads, making it a convenient option for industries to promote safety without compromising the quantity and quality of work.
The best thing about Figure 01 is its applicability in multiple industries, including manufacturing, medical care, and logistics. In addition, construction, search and rescue, and so on are a few other areas where humanoid robots can support the human workforce, reducing risks of injuries and improving working conditions.
Responsible AI Usage
Though robots lack human-like brains, their humanoid working style and intelligence stuns the laypeople, making them wonder how they perform everything. The answer lies in its training models that include Machine Learning (ML), Natural Language Processing (NLP), and other AI algorithms.
Training the AI-powered robots happens at the hands of human developers and engineers. It can create an opportunity for bias and discrimination in its results and data processing. The problem occurs when humanoids become the executive members of an organisation, leading and hiring new team members.
Mika joined the CEO ranking for the first time in history, raising concerns in the global corporate ecosystem. In this regard, Figure AI is among the AI startups that prioritise compliance and obedience to regulations to fight off discrimination at any stage. Mika developers have also confirmed compliance with responsible and ethical AI usage, ensuring the lack of bias and discrimination.
Funding for Enhanced AI-Powered Robotics
The futuristic vision of Figure AI demands funds and investments to enable it to change its vision to a functional reality. Initiating fundraising with a pre-money valuation. Multiple organisations and big names in the tech landscape have invested around 675 million U.S. dollars in funds that the AI startup has evaluated, with a return of about 2 billion U.S. dollars.
Explore Investments, and Microsoft are the major investors, with 100 million and 95 million dollars from each. It is noteworthy that Jeff Bezos has also invested through his primary business, Amazon, contributing about 50 million U.S. dollars. NVIDIA also invested around 50 million dollars in the cause of revolutionising AI robotics.
Despite functioning in Brett Adcock’s leadership, OpenAI and Microsoft are stakeholders in Figure AI. Some early reports also suggested that OpenAI strives to take over the newly emerged AI robotics business, but it did not merge. Further funding details are not public yet, but the future will demonstrate the impacts of these investments in AI robotics.
Figure AI Efforts to Bring Ethics to AI
When AI grows exponentially, you will see its effects in various industries. From diagnosing cancer early to treating it efficiently, AI has significant applications in healthcare. It also improves logistics and customer support with chatbots, offering productive time to corporate people to enhance their business structure.
Recent advancements in AI have paved the way for the futuristic use of AI in robotics and machines. Figure AI is one of the best AI startups to work on smart machines to double productivity and reduce the casualties of human workers in difficult and unsafe jobs. However, the need for responsible AI use is the talk of the town.
Figure AI has done an impeccable job streamlining AI ethics by following authoritative regulations and compliances. Therefore, it promises a responsible AI in its humanoids to take the manufacturing, logistics, and other industries to a scalable success.