News Release
Chinese Startup Debuts World’s First Mass-Produced Humanoid Robot at WAIC
MarketJar
Fourier Intelligence's striking humanoid robot, GR-1, made a remarkable debut at the World Artificial Intelligence Conference (WAIC) in Shanghai in July. This jet-black marvel captured the attention of the global technology community, showcasing the immense potential of bipedal robots. Amid the buzz surrounding AI software, the Chinese-designed GR-1 garnered attention by demonstrating its ability to walk at 5 km/h on two legs while carrying a 50 kg load. This breakthrough highlighted the prowess of bipedal robots in the evolving tech landscape. The unexpected triumph of unveiling GR-1 marked a transformative phase for Shanghai-based startup Fourier Intelligence. Originating in 2015 with a focus on rehabilitation robotics, the company has since diversified its offerings. From smart exercise bikes to wireless robotic gloves and computer-guided devices aiding movement restoration, Fourier's portfolio has expanded significantly. Alex Gu aligns with Telsa CEO Elon Musk's vision for humanoid robots as tools for mundane tasks and companionship. Musk has been quoted saying, “"There will probably be far more robots than humans in the future." Gu also recognizes the potential of large language models (LLMs), such as those underlying AI chatbots like ChatGPT. LLMs could grant robots logical reasoning abilities, enhancing their human-like qualities. Fourier's focus on hardware development aligns with collaborations with AI companies for LLM integration. GR-1's deployment for research and development is underway, with mass production planned by year-end. While a journey lies ahead before humanoid robots become part of daily life, Gu balances caution with optimism. As technology advances, the tantalizing prospect of humanoid robots becoming integral in the next five to ten years is within reach. Combating Crime Demands Superhuman Capabilities While the development of humanoid robots is still in its infancy, security robots are gaining popularity across the US as a response to rising crime rates. The global security robot market is projected to reach $31.08 billion by 2030, with a 12.8% CAGR. One of the companies leading the charge in this field is Knightscope, Inc. (NASDAQ:KSCP), an advanced security technology company headquartered in Silicon Valley. The company specializes in creating fully autonomous security robots (ASRs) that deter, detect, and report. Established in 2013, Knightscope leverages four key technologies – autonomy, robotics, artificial intelligence, and electric vehicle tech – to develop their unique solutions. Their tech has logged over 2.3 million hours of real-world field operation. A major achievement for Knightscope was the acquisition of CASE Emergency Systems in 2022, bolstering their capabilities and driving significant revenue growth. The company boasts an impressive clientele, including the New York Police Department (NYPD), New York City Fire Department (FDNY), San Luis Obispo Council of Governments (SLOCOG), and the Orange County Transportation Authority (OCTA). Throughout the year, Knightscope secured several substantial deals nationwide. These include a $1.25 million contract with Rutgers, The State University of New Jersey, encompassing 145 devices, as well as a pilot contract with the New York Police Department (NYPD) for a K5 robot designated for patrolling a Manhattan subway station. A recent strategic initiative unveiled by Knightscope involves a collaboration with a property management group in Chicago. This deployment features the K5 Autonomous Security Robot (ASR), tasked with patrolling a mixed-use facility housing both retail establishments and professional tenants. This marks Knightscope 's second deployment in Chicago, aiming to address elevated levels of crime, trespassing, vehicle break-ins, and catalytic converter thefts. Another notable milestone was reached as Knightscope successfully deployed its first two K1 Hemisphere ASRs in Hawaii. This deployment signifies the conclusive phase of product development—client testing. Collaborating with a globally recognized brand specializing in full-service hotels and resorts, Knightscope has initiated a comprehensive evaluation phase. Further showcasing the company’s impact, the deployment of a K5 in Ohio has garnered national attention, solidifying Knightscope 's position as a key player in the evolving landscape of security technology. Knightscope CEO, William Santana Li, was recently stated during the Company’s 2Q 2023 update, “For the six months ended June 2023, we booked $6.4 million of revenue putting us on an over $12 million annual revenue run rate – well over double last year. That’s right, not only double-digit growth over 2022 but literally potentially doubling the Company’s revenue by the end of 2023. As I often say, the Rise of the Robots is happening, and it is happening now!" For more information on Knightscope, Inc. (NASDAQ:KSCP) and the projects it is working on, visit this link or learn more about the Rise of the Robots at the company's official website. Disclosure: 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, Knightscope, Inc. Market Jar Media Inc. has or expects to receive from Knightscope, Inc.’s Digital Marketing Agency of Record (Native Ads Inc.) two hundred and sixty-six thousand USD for 89 days (63 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. Market Jar has not independently verified or otherwise investigated all such information. None of Market Jar or any of their respective affiliates, guarantee the accuracy or completeness of any such information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 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Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities. 8) Investing is risky. The information provided in this article should not be considered as a substitute for professional financial consultation. Users should be aware that investing in any form carries inherent risks, and as such, there is a possibility of losing some or all of their investment. The value of investments can fluctuate significantly within a short period, and investors must understand that past performance is not indicative of future results. Additionally, users should exercise caution as transactions involving investments may be irreversible, even in cases of fraud or accidental actions. It is crucial to acknowledge that rapidly evolving laws and technical issues can have adverse effects on the usability, transferability, exchangeability, and value of investments. Furthermore, users must be cognizant of potential security risks associated with their investment activities. Individuals are strongly encouraged to conduct thorough research, seek professional advice, and carefully evaluate their risk tolerance before engaging in any investment endeavors. Market Jar Media Inc. is neither an investment adviser nor a broker-dealer. The information presented on the website is provided for informative purposes only and is not to be treated as a recommendation to make any specific investment. No such information on PressReach.com constitutes advice or a recommendation. Contact Details James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com
August 22, 2023 09:00 AM Eastern Daylight Time
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