Mentioned:
Artificial intelligence powered robots keep making breakthroughs. And now, they’re also starting to scale up.
What’s happening:
- RichTech Robotics (NASDAQ: RR) has landed a new distribution deal with commercial robotics delivery company Sproutmation for their Scorpion robots
By the numbers:
- Sproutmation will initially purchase 20 Scorpion robots, with a commitment to begin purchasing 100 Scorpion robots annually
The big idea:
- The Scorpion robot developed by RichTech Robotics is an artificial intelligence powered robot that can make drinks and bartend completely autonomously
- Through leveraging artificial intelligence and machine learning capabilities, the Scorpion robot is capable of detecting and responding to voice commands as well as accurately interpreting gestures and facial expressions
Why it matters:
- Robotics have been a major trend in both Silicon Valley and Wall Street lately, with technology entrepreneurs including Jeff Bezos previously backing robot startup Swiss Mile and Serve Robotics (NASDAQ: SERV) recently launching a new partnership with Google (NASDAQ: GOOG) owned drone company Wing for autonomous short distance deliveries
Going deeper:
- RichTech Robotics previously made waves when they became the first company to ever launch an autonomous robot into a major sports arena, installing their ADAM robot into the Texas Rangers Globe Life Field stadium in Arlington, Texas
