07 Jan Robotic KitchenThe team at Moley Robotics are dedi
Robotic KitchenThe team at Moley Robotics are dedicated individuals, specializing in robotics, machine learning, and artificial intelligence. The research team consists of scientists and researchers from Stanford University and the Sant-Anna School of Advanced Studies in Italy and their industry partner Shadow Robotics (UK). Their work combined is focused on finding applications for robotics in the kitchen. Recently they demonstrated how the Moley Robotic Kitchen would work.The Moley Robotic Kitchen consists of two complex, programmed arms and hands which has the capability to cook anything a human chef can. Motion capture technology is used, where robots learn from recordings of professional chefs at work, to generate a digital library of recipes for cooking. The actions of these chefs are translated into digital movement using bespoke algorithms.They envision the application of this technology in homes where users can download recipes, or a set of recipes created by leading nutritionists, tailored to individuals’ health needs. In effect users will be able to select a dish and have it cooked by a virtual version of a celebrity chef in the user’s home. While they have had investor interest in this technology, initial conversations highlight concerns about the market segments to target first with this technology, given it would retail around $5500 per unit.They have come to you for advice on entering the market and exploiting this technology. You are encouraged to suggest alternative applications of the technology, and you may want to suggest that the team considers different applications to the ones they are currently considering.Task:Analyse Moley Robotics’ current commercial feasibility and advise the team on specific issues:1) Which market segment would be most suitable for the launch product and why;2) The value innovations offered by this recommended product;3) What factors indicate the demand for this new venture exists and will increase; and4) How can the new venture decrease its chances of market failure? (Hint: Think about the entrepreneurial process they should follow, feasibility and/or competitive advantage)
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