Jun-Ho Oh, the founder of Rainbow Robotics, is set to resign from his position and assume the role of Chief Executive Officer at the Future Robotics Office. This transition comes at a time of significant advancement in the robotics sector, with Rainbow being noted for developing Korea's first humanoid robot, Hubo. The company has carved out a niche in producing collaborative robots, dual-arm mobile manipulators, and autonomous mobile robots, all designed for enhancing manufacturing and logistics automation.
In a collaboration that exemplifies the merging of technology fields, Samsung Electronics has announced plans to leverage its artificial intelligence and software expertise in conjunction with Rainbow Robotics’ robotic technology. This partnership aims to expedite the progression of intelligent and advanced humanoids. Speaking on this initiative, Samsung stated, “By combining Samsung Electronics’ AI and software expertise with Rainbow Robotics’ robotic technology, the collaboration aims to accelerate the development of intelligent, advanced humanoids.”
The global market for humanoid robots is anticipated to see substantial growth, with Goldman Sachs projecting valuation figures to reach approximately $38 billion by the year 2035. Despite these optimistic industry forecasts, Rainbow Robotics has yet to turn a profit since its establishment in 2011 by researchers from the Korea Advanced Institute of Science and Technology (KAIST). Reports indicate that in the third quarter of 2024, the company incurred losses amounting to $2.7 million against sales of $6.6 million.
The growing interest in robotics has not gone unnoticed within the electronics sector. Key industry figures are increasingly vocal about the importance of automation through robotics. Elon Musk has revealed plans to launch his humanoid robot, dubbed Optimus, in 2026. Furthermore, at the Taiwan National Science and Technology Conference, TSMC CEO CC Wei highlighted the significance of multifunctional robots as a critical area for future development. He remarked, “One area I would point out is multifunctional robots, which is the critical direction for the future. I just spoke to the richest man in the world a few days ago, and he told me that multifunctional robots are the most critical area and that he is dedicating great efforts to it, rather than to cars."
In the context of increased competition and focus on robotics, it is noteworthy that Samsung’s rival, Hyundai, made headlines in 2020 when it acquired Boston Dynamics, a well-known player in the robotics field. This manoeuvre showcases the escalating strategic importance of robotics and potential automation solutions in business practices across industries.
Source: Noah Wire Services