RR Richtech Robotics Inc

Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics”), a Nevada-based company and a provider of AI-driven service robots, announces its advanced AI capabilities for its robotic solution ADAM at the Consumer Electronics Show (CES) 2024 held in Las Vegas January 9th-12th, in the North Hall, booth 9335. Richtech Robotics believes these advancements will revolutionize ADAM's capabilities beyond its role as a robot bartender, barista, or boba tea maker, enabling it to engage in sophisticated conversations with customers and emulate human actions with exceptional accuracy.

By analyzing and adapting to human-like motions, ADAM will become more interactive, accurately predicting and catering to customers' needs with improved precision. This advancement aims to not only enhance efficiency in task execution but also create a more engaging and fluid interaction between ADAM and customers. Richtech Robotics believes this innovative feature will redefine the landscape of robotic assistance in hospitality, fostering a seamless and enjoyable experience for patrons while supporting businesses with enhanced operational capabilities.

"This technology not only addresses the current labor challenges but enhances the guest experience, making the robots more engaging and interactive," said Matt Casella, Richtech Robotics’ President. "Our goal is to alleviate the labor burden, enabling restaurants and bars to support their current staff while focusing on other areas of their business, helping them to grow, scale, and improve their bottom line."

The new capabilities aim to elevate personalized interactions and significantly enhance efficiency, facilitating quicker service and seamless integration of robots across various settings. The enhancements will soon be available to customers in the U.S., and are expected to transform the entire robotic dining experience.

Richtech Robotics completed its IPO in November 2023 and addresses a critical need within the $4.7 trillion U.S. hospitality market, which is forecasted to reach $5.8 trillion by 2027. Despite this growth, technology remains an underdeveloped aspect in the industry, compounded by persistent staffing shortages that prevent restaurants and bars from capitalizing on the industry's resurgence.

As a dedicated partner to hospitality businesses, Richtech Robotics understands the challenges faced by today’s restaurants and bars, and has developed technology that aims to remove such barriers. ADAM, an innovative robot leveraging machine learning, AI, and edge computing, specializes in creating customizable drinks, enhancing productivity and experience through engaging 24/7 service.

For more information, visit https://www.richtechrobotics.com/.

About Richtech RoboticsRichtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction.

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Contact:

Investors:CORE IRMatt Blazeiir@richtechrobotics.com

Media:Timothy TanksleyMarketing DirectorRichtech Robotics, Inc.press@richtechrobotics.com702-534-0050

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ed360072-ae71-44cc-a479-62c2bbec5f9e