Sarcos, a robotics leader, shifts focus to their AI and ML software platform, anticipating a transformative impact on industrial robotics. This strategic move prioritizes software development for reducing robot training times and enhancing agility. By decoupling their AI/ML software from hardware efforts, they aim to reach a broader market efficiently, suspending subsea, aviation, and solar robotics projects. This pivot streamlines operations, trimming 150 jobs and consolidating offices. Despite the tough decision, Sarcos aims for financial prudence, ensuring long-term value and profitability. Their AI software platform, expected by mid-2024, reflects their commitment to addressing acute customer needs, aiming for robust revenue growth while reducing risks and capital requirements.
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