This Bezos-Backed AI Startup Might Just Make You Rich — and Change the Future
Written by
Jordan Rosenfeld
Edited by
Jenna Klaverweiden
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Despite its pretty impressive skills, artificial intelligence (AI) is still in its early stages, with most people using AI services like ChatGPT to write content and Midjourney to play with art.
However, investors like billionaire Jeff Bezos are sinking investment funds into a whole new kind of AI startup, one that has much loftier goals to improve life for humans: Figure AI.
Figure AI has built an AI-based “humanoid robot,” which it’s calling “Figure 01.” The company’s founder and CEO, Brett Adcock, is also the founder of Archer Aviation — an aerospace company with Tesla-like aspirations that is trying to build an all-electric aircraft.
What Is Figure 01?
Figure 01 is an autonomous robot designed to step in where humans are struggling to meet demands — be that helping with labor shortages or simply adding a “helping hand” in industries that require heavy lifting in warehouses, like transportation and retail. Figure AI appears to envision these robots not replacing humans in these jobs but adding safety and support with tasks that are hard on a body or dangerous.
“With the first humanoid by our side in the workforce, we’ll have the ability to create and produce so much more, address drastic labor shortages, and reduce the number of workers in unsafe jobs,” the company’s website states.
Blunt Tool or Sophisticated Machine?
But why is Figure 01 built to look and behave like a human, you might ask, if it isn’t here to replace people?
The company’s website explains that, stating that the world has been designed for the human form. “Hands allow us to open doors and use tools; arms and legs allow us to move efficiently, climb stairs, lift boxes, and more,” its website states.
“Figure 01 brings together the dexterity of the human form and cutting edge AI to go beyond single-function robots and lend support across manufacturing, logistics, warehousing, and retail,” according to the website.
What Can It Do?
While Figure 01 is not the first warehouse-style robot built to help improve such tasks (Amazon fulfillment centers and DHL already use some), this robot will be able to do a vastly more complex array of tasks, according to Figure AI’s founder.
Recent videos released by Figure AI show the robot lifting and moving a container and even making a cup of coffee. While this may not seem particularly advanced, what makes this robot unique is that it isn’t being operated by a person. Instead, it’s using its AI program to process the stimuli or commands given to it, and then it’s making its own decisions on how to proceed.
Figure AI’s confidence is catching. It’s raised around $675 million already, and the company has been valued at roughly $2.6 billion, though it is not yet public. It’s even inked a contract with German carmaker BMW to produce “general purpose” robots to assist in car production.
Can You Invest?
Unless you have several million dollars handy, it might not be easy to directly invest in Figure AI at this time, as the company hasn’t gone public yet. However, you can invest in the investors. For example, Microsoft (MSFT) is one of Figure AI’s biggest investors, so if you invest in Microsoft, you are indirectly benefiting from any future profits Figure AI makes that boost Microsoft shares.
However, there are other AI companies whose stocks you can invest in, including:
- Rekor Systems Inc. (REKR)
- Nerdy Inc. (NRDY)
- FiscalNote Holdings Inc. (NOTE)
- Ideanomics Inc. (IDEX)
- BigBear.ai Holdings Inc. (BBAI)
- Duos Technologies Group Inc. (DUOT).
As with any new technology and any new company, you should understand the risks you’re taking by investing. Until something is tried and true, it’s hard to know how well it will pay off. However, Figure AI is one to watch.
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