Forbes adds AMP Robotics to its AI 50 List
Recycling the mountains of waste in the world comes with its own mountain of challenges. One of these is the identification and separation of materials. This can be a time consuming and labor-intensive process when done by hand. This week, however, Forbes added one company to its top 50 list of companies in Artificial Intelligence (AI) for its work to solve this very problem.
The FORBES “AI 50” list is devoted to private, U.S.-based companies demonstrating real business potential utilizing AI (machine learning, natural language processing, or computer vision) as a core part of this business model. This week AMP Robotics was added to that prestigious list.
credit: AMP robotics
AMP Robotics Corp. (“AMP”), has developed techniques using AI and robotics to help modernize recycling. The company is using AI to identify items which in turn direct robots to separate the items appropriately.
“Earlier this year, we notched a milestone of ‘one billion picks’ over 12 months that demonstrates the productivity, precision, and reliability of our AI application for the recycling industry. It’s an honor to be deemed one of the country’s most promising AI companies, and we’re just getting started,” said Matanya Horowitz, AMP founder and chief executive officer. “There’s growing appreciation for the role of recycling in the domestic supply chain, in terms of keeping resources flowing and products on shelves, and resultant momentum around supportive policy initiatives that are putting some real wind in the sail for the industry. We’re pleased to play a role in enabling better efficiency, safety, and transparency to help transform recycling.”
The system’s AI relies on computer vision, machine learning and an ever-expanding neural network of robots to perform its task. The system is far faster than work performed by hand and can operate 24 hours a day.
Among AMP’s backers are Sequoia Capital, Closed Loop Partners, Congruent Ventures, and Sidewalk Infrastructure Partners (“SIP”), an Alphabet Inc. (NASDAQ: GOOGL) company.
“We consider AMP a category-defining business and believe its artificial intelligence and robotics technology are poised to solve many of the central challenges of recycling,” said Shaun Maguire, partner at Sequoia Capital and AMP board member. “The opportunity for modernization in the industry is robust as the demand for recycled materials continues to swell, from consumers and the growing circular economy.”
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