Toyota Motor Corp (ADR) (NYSE:TM) mini robot is the latest unusual product that the company has produced that is completely different from the company’s line of operations.
The Toyota mini robot has been given the name “Kirobo” which was coined from the name “kibo” meaning “hope” and the word “robot.” It is a 4-inch tall robot that can talk and will feature a price tag of roughly $392. The robot highlights Toyota’s venture from its usual norm of manufacturing automobiles.
What makes the Toyota mini robot unique?
Toyota claims that the mini robot has the intelligence of a five-year-old child. In addition, the Kirobo can identify facial expressions and even learn phrases. This is courtesy of built-in sensors and camera. Toyota’s general manager Fuminori Kataoka highlighted the idea behind the company’s decision to come up with such a product.
“This (product) may help people get interested or fond of Toyota, or help in connecting with our customers who have let go of Toyota vehicles,”stated Mr. Kataoka.
The motivation behind the company’s new venture
Toyota is venturing into artificial intelligence and it recently hired global robotics experts to spearhead its new venture. The idea is to offset the growing pressure that Toyota has been facing together with other vehicle manufacturers due to the technological competition brought into the industry by tech firms such as Alphabet Inc (NASDAQ:GOOGL) Google.
— The Verge (@verge) October 3, 2016
The Toyota general manager also stated that the robot was designed to be a companion to drivers so that it can help in creating an emotional attachment even outside the vehicle.
“Toyota has been making cars that have a lot of valuable uses. But this time we’re just pushing emotional value,” said Mr. Kataoka as he further explained the motive behind the creation of the Toyota mini robot.
Toyota’s stocks closed the latest trading session at $116.06, up, by $0.07 or 0.06% compared to the value of the stock in the previous close.
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