Hong Kong Investment Corporation(HKIC), a government fund valued at US$8 billion, has entered into a collaboration with humanoid robot startup Galbot, for the development of its Galbot G1 robot.
HKIC and Galbot to develop AI in the marketplace
Through this agreement, Galbot will create a local entity called HK-Galbot Embodied AI Lab, with the objective of exploring applications for humanoid robots in economic activities, such as health, commerce and tourism. HKIC Executive Director, Clara Chan, announced during the signing ceremony that pilot projects will be carried out in various sectors of the most demanding industries.
Galbot will also collaborate with local educational institutions to develop training programs in AI, a technology that enables AI systems to interact with their physical environment and enhance their development.
These programs will train more than 100 teenagers annually, promoting advanced skills in the use of AI under the application of physical objects. In addition, Chan mentioned that one of the advantages of “AI robots” is their ability to replace humans in dangerous and monotonous tasks, thus increasing efficiency and safety in various activities.
Company growth
Galbot is the third company selected by HKIC to boost the technology sector in Hong Kong, just one year after its founding. In addition, the company plans to consider Hong Kong as its preferred destination for a future initial public offering (IPO).
Financial Secretary Paul Chan emphasized at the same event that HKIC’s collaborations with companies such as SmartMore and Biomap have brought technological innovations, research capabilities and talent to Hong Kong, attracting more companies and investment funds to the city. He also expressed optimism about Galbot’s contribution to the well-founded building of a robotic ecosystem in the region.
At a press conference, HKIC’s Clara Chan declined to provide specific details on the investment made in Galbot by the government fund.
The presentation of the Galbot G1
He Wang, an assistant professor at Peking University’s Frontiers Center for Computer Studies, founded Galbot in May last year. In June this year, the company closed a funding round, raising 700 million yuan(US$96.3 million) from investors, including Chinese giant Meituan and firms such as Qiming Venture Partners and Lanchi Ventures.
Earlier this month, Galbot unveiled its first humanoid robot, the Galbot G1, at the World Artificial Intelligence Conference(WAIC) in Shanghai. Chinese media reports highlighted the robot’s capabilities to interact with visitors, pick up objects and place them in specific locations. During the event, the Galbot G1 interacted with more than 800 visitors and performed more than 1,000 actions with a 97% success rate.
Moreover, Wang detailed,“For AI to be able to perform physical tasks, it needs to be equipped with a dynamic body that includes arms, hands and legs,” he said. This justifies Galbot’s construction of human-shaped robots by Galbot. In addition, he highlighted that the company can produce robots at one-tenth the cost, relative to what U.S. companies face, due to the supply chain advantages of the Greater Bay Area.
The robot with artificial intelligence acts as an autopilot, under domestic or industrial tasks. Source: Galbot Robotics
Wang also envisioned a future where buying a humanoid robot for the home could be as common as buying a car, within the next 10 to 15 years. Initially, Galbot’s robots could be employed in retail for tasks such as picking items from delivery orders and handing them to delivery drivers. And the company plans to deploy its robots in some stores in Hong Kong in the next year or two.
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Source: HKIC
Photo: Galbot
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