AI startup Ubtech unveils humanoid robot to target consumer market
Ubtech, an artificial intelligence startup, sees revenue to triple in 2019 amid booming demand in the business and consumer markets which prompted the firm to unveil humanoid robot Wu Kong Thursday.
Humanoid robot, one of the fastest growing segments of the service robot market, features facial identification, voice recognition, environment sensing and machine learning technologies to make robots “intelligent and interactive.”
In 2019, Ubtech’s revenue is expected to surge to 6 to 8 billion yuan (US$872 million to $1.2 billion) from an expected 2 to 2.5 billion yuan this year, the startup said.
The booming humanoid robot market includes education, retail, art and sports, said Zhou Jian, founder and chief executive of Ubtech.
The global humanoid robot market is set to exceed US$5 billion by 2024, according to industry reports.
The market size of robot is “beyond imagination,” which will push the company’s value up to US$50 billion in the near future, Zhou said.
Ubtech, which is valued at US$5 billion after it raised capital totaling US$820 million in May, cooperated with Tencent, Wind and Codemao to add AI features in the 4,999 yuan Wu Kong to enable it to talk with children and take pictures by voice control commands.
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