This year, Amazon plans to invest more in startups that bring artificial intelligence to robots.
Franziska Bossart, head of Amazon’s $1 billion industrial innovation fund, told the Financial Times on Wednesday that Amazon will focus on investments in generative artificial intelligence this year, particularly startups that combine artificial intelligence with robotics to support Amazon’s broader business goals. Automating logistics in its warehouses continues to be a priority for the company.
“This year we want to further establish the Fund as the venture investor of choice for innovative startups of all sizes in the robotics, fulfillment and logistics sector,” Bossart said in a press release. He also revealed that advances in artificial intelligence are helping the company automate a “wider range” of responsibilities.
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For example, Amazon announced a pilot project with Agility Robotics last year to test the company’s bipedal robot in its warehouses.
Agility Robotics’ bipedal robot in action. Credit: Amazon
Bossart told the Financial Times that automation through new hardware and software would not eliminate people entirely, but rather shift jobs away from dangerous or repetitive tasks.
“We are also a long way from replacing all humans,” Bossart told the outlet.
Bossart said separately that Amazon’s innovation fund will expand its investments into autonomous transportation this year, although other companies appear to be taking a different tack. Apple, for example, on Tuesday abandoned a decade-long project to create an autonomous, all-electric car.
Related: Apple cancels its decade-long electric car project and moves some employees to its AI division
Amazon’s Innovation Fund, founded in 2022, is committed to supporting startups developing automation tools for warehouses. It invests directly in startups and currently has 10 listed portfolio companies, seven of which operate in the robotics sector.
To apply for the fund, visit here.