EdTech Insight – Humanoid robot startup Figure AI valued at $2.6 billion as Bezos, OpenAI, Nvidia join funding

by | Feb 29, 2024 | CNBC, News & Insights

Executive Summary and Main Points

The global race to build and integrate humanoid robots into business operations has taken a significant leap forward with startup Figure AI’s development of a general-purpose robot called Figure 01. Backed by major tech players such as Jeff Bezos, Nvidia, Microsoft, and Amazon’s Industrial Innovation Fund, Figure AI has recently raised $675 million, positioning their valuation at $2.6 billion. Unlike its competitors, Agility Robotics, Tesla, and Boston Dynamics, Figure AI emphasizes industrial roles for its robots to address labor shortages, with a clear stance against military applications. With partnerships including OpenAI and Microsoft Azure, Figure AI is at the forefront of driving next-generation AI models for humanoid robots, an emerging market projected to reach $38 billion by 2035 by Goldman Sachs analysts.

Potential Impact in the Education Sector

The advent of humanoid robots holds transformative potential for Further Education, Higher Education, and Micro-credentials. In academia, the use of such advanced robotics can augment research, enable sophisticated simulations, and enhance laboratory experiments. Furthermore, these robots may be instrumental in vocational training programs by providing hands-on experience in fields such as manufacturing and logistics. Strategic partnerships between education providers and tech companies could see institutions equipping students with the skills necessary to interact with and maintain such robots, aligning curriculums with an industry forecasted to scale up extensively. Additionally, micro-credential courses can quickly upskill workers in robot-assisted sectors, ensuring a workforce ready for digitalization’s cutting edge.

Potential Applicability in the Education Sector

Innovative applications of AI and digital tools extend into global education systems. Humanoid robots like Figure 01 could be deployed as educational assistants, conducting demonstrations, offering tutoring, and facilitating a customised learning experience. AI-powered robots can also be incorporated into distance learning platforms to bridge the physical gap between educators and students. In laboratory settings, these robots could conduct experiments, manage hazardous materials, or perform duties outside regular lab hours, maximizing resource utilization. Universally designed AI systems within humanoid robots could cater to diverse cultural and linguistic student populations, promoting inclusivity in global education environments.

Criticism and Potential Shortfalls

Despite the optimistic future painted by developers, there are reservations regarding the deployment of humanoid robots in academic settings. The high costs of sensors, actuators, and maintenance could place a financial strain on educational budgets. There is a risk that an overemphasis on technology could lead to a diminished role for human educators, raising ethical concerns about the nature of learning and teacher-student relationships. International case studies, such as robot-assisted teaching in Japan versus more traditional approaches in other regions, reflect varying levels of success and highlight cultural adaptation challenges. Furthermore, data privacy and security remain significant issues, especially concerning students’ personal information processed by AI systems.

Actionable Recommendations

For international education leadership exploring humanoid robotics, it’s important to start by aligning institutional objectives with the capabilities of such technologies. Pilot programs could be established to integrate robots like Figure 01 into specific courses or administrative functions, closely monitoring outcomes and student engagement. Collaboration with industry could yield funding opportunities and ensure that educational programs are in step with technological advancements. As part of a strategic approach, educational institutions should advocate for open-source AI models to foster innovation and collaboration while mitigating costs. Lastly, institutions must adopt robust cybersecurity and privacy measures and include ethical considerations of AI in the curriculum to prepare students for a future where these technologies are ubiquitous.

Source article: https://www.cnbc.com/2024/02/29/robot-startup-figure-valued-at-2point6-billion-by-bezos-amazon-nvidia.html