The tech world is abuzz right now with artificial intelligence and ChatGPT, but there’s a company in Hong Kong focused on a sort of applied AI — with a fleet or robots that can deliver goods, clean surfaces, perform concession services and more.
Guardforce AI Co Ltd (NASDAQ:GFAI) is a security solutions provider founded in 1982 with a legacy of protecting and transporting the high-value assets of public and private sector organizations.
The company operates secured logistics, security alarm and information security divisions, with big-name clients including Starbucks, FedEx (NYSE:FDX), Adidas, 7-11 and the Bank of Thailand, just to name a few.
However, the Covid-19 pandemic changed the way Guardforce chief financial officer Brian Ma and the executive team thought about automation. There are valuable services that robots can perform, helping employers save on labor costs in a tight market and employees reduce their workloads.
So Guardforce got to building them, and now the company has 6,000 robots around the world, primarily in the Asia-Pacific region.
The robots themselves break down into three categories: concession, disinfection and delivery.
The concession robots are automated kiosks with large screens, found at restaurants, hospitals, hotels and more, powered by Guardforce’s Software-as-a-Service platform. That allows the company to monitor and manage the robots remotely, while also collecting data.
For example, Ma says, a guest can check into a hotel without any need for employee assistance by presenting their ID to one of its robots, which then can provide them with a room key and any necessary information.
Now, say you want to order some food, or maybe you own and office building that you want to regularly disinfect. A delivery robot equipped with a tray can bring food to your table and accept payment, all while a cleaning robot makes sure the building is spotless.
The Guardforce program also delivers data computation and cloud monitoring, so clients that buy or rent robots can observe their performance in real time.
Aside from the clients themselves, the robots also provide a source of advertising. Because they all run on Guardforce’s integrated platform, companies can buy screen time on robots based on where they’re located and the types of users that interact with them. Then, they receive feedback from the company’s intelligent cloud platform.
That data collection is valuable to both the private and public sectors, Ma said.
Case in point, Guardforce signed a contract in February with a local government office in Macau to promote shows, exhibitions and forums on about 165 robots for a 20-week period.
Future expansion
Guardforce primarily operates in the Asia-Pacific region, but it has its eye on the United States market as well.
To get there, the company is prioritizing acquisitions. In February, Guardforce acquired the Chinese robot business of Shenzhen Kewei Robot Technology Company Ltd, which included staff, equipment, clients in the company’s sales pipeline and permanent use of patents.
The customers for the acquired business span a range of industries, such as restaurants, hotels, and office buildings, including Fortune 500 companies, while patents are expected to further enhance Robot-as-a-Service (RaaS) development.
As the company’s revenue mix shifts away from security and more heavily towards RaaS, both organic and inorganic growth will propoel the company forward, Ma said.
“We have the right team, and we have the right timing,” Ma said. “We have the right place, and we have the right focus.”
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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