Where Are the Robots? Brett Edcock Skips the Show at Bloomberg Tech

The situation with anthropomorphic robots from Figure AI is heating up faster than an overclocked processor. Recently, company co-founder and CEO Brett Adcock stepped into the limelight at the Bloomberg Tech conference, but instead of an anticipated live demonstration of the robots, he turned the event into a masterclass on dodging tough questions.

It all started with publications that questioned the tangible successes of Figure AI’s collaboration with powerhouse BMW. Adcock’s response was immediate and harsh: he publicly threatened legal action against one media outlet. Apparently, journalists should now carry not only notepads but also lawyers? When asked onstage at Bloomberg about the specifics of the relationship with BMW—whether it was a pilot or a full-fledged contract with commercial benefits—Adcock launched into extensive discussions about “the value of factory testing” and “tracking metrics,” but he offered no clear answers whatsoever. The only “proof” presented was a YouTube video featuring robots at BMW’s factory—visually appealing, but sadly lacking any real validation.

The sole concrete news is that Figure AI has signed a contract with a second, yet-to-be-named client for initial implementation. Bloomberg, citing its sources, confidently names this client as logistics giant UPS. It raises the question: will the robots sort packages or guide customers to their orders? Yet again, the specifics remain unconfirmed.

Now for the most intriguing part. While competitors like Agility Robotics and Boston Dynamics calmly showcased their robots during the conference, Figure AI’s booth captivated attention only for its… lack of robots. In response to a direct question from Bloomberg journalist Ed Ludlow: “Where are your metal guys?” Adcock sharply replied: “According to our philosophy, we don’t attend many events. Honestly? A massive waste of time. I would have to bring a whole team and robots here. They’d be better off in the office!” Just like that. However, they have plenty of videos. One wonders if the second client is also on board with such a “demonstration” of capabilities?

Despite the skepticism, Figure AI has lofty ambitions. Adcock confirmed plans to produce and implement around 100,000 robots over the next four years. That’s a bold claim! But amid these aspirations, questions arise regarding actual commercial success. Particularly, when it’s reported that the company is allegedly looking to raise $1.5 billion at a valuation of $39.5 billion. That’s a staggering 15 times the $2.6 billion valuation from February 2024. It’s no surprise that Figure AI reacts nervously to any criticism, even sending cease-and-desist letters to brokers on the secondary market, prohibiting them from trading their shares without permission.

Ready to test the capabilities of modern AI? Sign up for BotHub here and receive bonus tokens for exclusive access to the models.