Robots have emerged as a critical new frontier for the AI industry. There is a potential to apply state-of-the-art technology to real world tasks. Robots can be deployed to perform tasks that are too dangerous or unpalatable for the human beings. Of course, they can also assist to do many laborious and monotonous tasks.

A company called Figure AI Inc has been founded. It is working on a robot that looks and moves like a human. The humanoid machine will be called Figure 01 and will perform tasks that are unsuitable for people and can alleviate labour shortages.

Figure AI Inc. is backed by OpenAI and Microsoft. It is raising funds — about $675 million. It is a pre-money round at a valuation of about $2 billion.

Jeff Bezos of Amazon has committed $100 million through his firm Explore Investments LLC. Microsoft is investing $95 million. Nvidia and Amazon.com Inc-affiliated fund each are providing $50 million. Other companies such as Intel, LG, Parkway, Align are investing too. OpenAI is investing $5 million.

In May 2023, Figure has raised $70 million in a funding round led by Parkway. It announced then that Figure is going to be the first to bring to market a humanoid that can actually be useful and do commercial activities