With an aging population and 10 million unsafe and undesirable jobs in the US, labour supply growth is predicted to flatline in the 21st century. Automation of jobs is a potential solution to these growing societal problems.
Exiting stealth in 2023, Figure Robotics joins a slew of AI and manufacturing companies with a distinct interest in humanoid robotics. The benefits of humanoid robotics, according to Figure, include the potential for them to take over unsafe or undesirable jobs from people, essentially leading to a happier and more purposeful society.
There’s clearly a long way to go, with Figure aware that its mission to expand human capabilities through advanced AI will take decades. That said, it has managed to raise more than $750 million in funding so far to help its long-term growth. And, with preliminary testing underway through a partnership with BMW, the company is certainly off to a good start.
Freddie
Company Specialist at Welcome to the Jungle