AI Teddy Bears: The Future of Children’s Toys
Teddy bears equipped with AI could end up chatting with children and telling them personalized bedtime stories as AI costs fall, according to one of the world’s largest toymakers.
The technology behind the ChatGPT chatbot could be available in toys as early as 2028 and used to teach or even instill values like not telling lies, said Allan Wong, president and chief executive officer of VTech Holdings, which owns U.S.-based LeapFrog and already develops products for electronic learning.
Wong said Hong Kong-listed VTech was “looking very closely” at the potential of using generative AI in products, while acknowledging that he found some of the possibilities “a little scary.”
The smart toys could use “artificial intelligence to generate personalized stories for the child rather than reading from a book,” he told the Financial Times.
“You can incorporate not only the child’s name, but their daily activities as well. [It] knows which school you go to. . . who are your friends. He can actually tell a story and talk almost like a good friend,” she said.
“Children . . . can actually talk to the toy and the toy can actually give [them] an answer,” he explained. “AS [there are] many, many possibilities.”
But with generative AI, he said, “I think we should be aware of the dangers, about privacy, about security, about what kinds of things to teach and what not to teach.”
Regulators in many parts of the world are stepping up their scrutiny of the risks inherent in powerful generative AI technology, including copyright and surveillance issues and what guidelines need to be established for its use.
Wong acknowledged that generative AI was currently “not mature” to be applied to toys. He said it will take time to resolve privacy issues and wait for technology costs to come down.
The specialized chips used by ChatGPT, manufactured by Nvidia and which pushed the US company’s stock market valuation to more than $1 trillion, were still too expensive for toys, Wong said.
“I think we’ll have to wait another five years or so when the price drops to a certain level, then we can tailor a subset of those AI chips for toy use. But it’s coming.”
The global smart toy market is expected to be worth about $14 billion this year, rising to $43 billion by 2032, according to data from Mordor Intelligence.
China, which has more than 61 million children under five compared to about 21 million in North America according to UN data, would be an increasingly important market despite declining birth rates, Wong said.
But Chinese consumers’ adaptation of “Western-style” educational toys has been “slower than I expected,” he said.
VTech, which has a market capitalization of approximately $1.6 billion and is also one of the world’s largest cordless phone makers, was an early adopter of a “China plus one” manufacturing strategy with acquired manufacturing facilities in Malaysia in 2018 and 2020. Wong acknowledged the move came after some of their “buyers preferred their products to be manufactured outside China for political reasons.” The company also produces in Mexico.
He said the company has no plans to move its production lines further outside of China, where it holds about 75% of its production capacity.
“I don’t see the US separating from China because the supply chain in China is just too important,” he said. “China is still, overall, the cheapest place to produce.”
The Future of AI-Enabled Toys: A Sweeping Transformation in the Toy Industry
As technology continues to advance at an astonishing pace, the world of toys is on the verge of a major transformation, embracing the power of artificial intelligence. With the increasing availability and decreasing costs of AI, the dream of interactive and educational toys like AI-equipped teddy bears is becoming a reality. The potential impact of such toys is immense, taking children’s playtime to a whole new level and revolutionizing the way they learn and interact with their toys.
Personalized Learning and Storytelling: The Power of AI
The integration of AI technology in toys opens up a world of possibilities. Instead of static pre-programmed responses, AI-enabled toys have the ability to interact with children in a dynamic and personalized way. Imagine a teddy bear that knows your child’s name, their friends, and their daily activities. This teddy bear could not only tell captivating stories but also tailor them to the child’s interests and experiences. The child can engage in conversations with the toy, asking questions and receiving thoughtful replies, fostering creativity and critical thinking.
Overcoming Challenges: Dangers and Concerns
While the potential benefits of AI-enabled toys are exciting, there are also valid concerns that need to be addressed. Privacy and security issues come to the forefront, as the toys would collect and process personal data to provide personalized experiences. Striking a balance between effective personalization and protecting children’s privacy will be crucial. Additionally, determining what values and messages these AI toys should convey requires careful consideration. The responsibility lies with toy manufacturers to ensure that the content generated by AI is appropriate and aligned with ethical standards.
A Glimpse into the Future of the Toy Industry
The current limitations surrounding the use of AI in toys, such as cost and maturity of technology, are gradually being overcome. Manufacturers like VTech are closely monitoring the progress of AI technology and are enthusiastic about incorporating it into their products. As the price of specialized AI chips decreases and privacy concerns are addressed, AI-enabled toys are expected to become more accessible and widespread. With the global smart toy market projected to grow significantly in the coming years, the integration of AI will undoubtedly play a pivotal role in shaping the future of the toy industry.
Summary:
Teddy bears equipped with AI are set to revolutionize the toy industry, offering personalized learning experiences and interactive storytelling capabilities. The president and CEO of VTech Holdings, Allan Wong, believes that the technology behind AI chatbots like ChatGPT could be integrated into toys as early as 2028. These AI-enabled toys would be able to generate personalized stories for children based on their name, daily activities, and interests. However, Wong acknowledges the potential dangers and concerns surrounding privacy, security, and the content delivered by AI toys.
Despite these challenges, the future of AI-enabled toys looks promising. The global smart toy market is expected to reach $43 billion by 2032, presenting a significant opportunity for toy manufacturers. China, with its large population of children, is seen as a crucial market for these innovative products. While the adaptation of Western-style educational toys in China has been slower than expected, the potential for growth remains high.
The integration of AI technology in toys is still in its early stages, with issues like cost and technology maturity to be addressed. However, as the price of specialized AI chips decreases and privacy concerns are properly managed, AI-enabled toys are expected to become more accessible and popular. The transformative power of AI has the potential to reshape the way children play and learn, offering personalized experiences that foster creativity and critical thinking.
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Teddy bears equipped with AI could end up chatting with children and telling them personalized bedtime stories as AI costs fall, according to one of the world’s largest toymakers.
The technology behind the ChatGPT chatbot could be available in toys as early as 2028 and used to teach or even instill values like not telling lies, said Allan Wong, president and chief executive officer of VTech Holdings, which owns U.S.-based LeapFrog and already develops products for electronic learning.
Wong said Hong Kong-listed VTech was “looking very closely” at the potential of using generative AI in products, while acknowledging that he found some of the possibilities “a little scary.”
The smart toys could use “artificial intelligence to generate personalized stories for the child rather than reading from a book,” he told the Financial Times.
“You can incorporate not only the child’s name, but their daily activities as well. [It] knows which school you go to. . . who are your friends. He can actually tell a story and talk almost like a good friend,” she said.
“Children . . . can actually talk to the toy and the toy can actually give [them] an answer,” he explained. “AS [there are] many, many possibilities.”
But with generative AI, he said, “I think we should be aware of the dangers, about privacy, about security, about what kinds of things to teach and what not to teach.”
Regulators in many parts of the world are stepping up their scrutiny of the risks inherent in powerful generative AI technology, including copyright and surveillance issues and what guidelines need to be established for its use.
Wong acknowledged that generative AI was currently “not mature” to be applied to toys. He said it will take time to resolve privacy issues and wait for technology costs to come down.
The specialized chips used by ChatGPT, manufactured by Nvidia and which pushed the US company’s stock market valuation to more than $1 trillion, were still too expensive for toys, Wong said.
“I think we’ll have to wait another five years or so when the price drops to a certain level, then we can tailor a subset of those AI chips for toy use. But it’s coming.”
The global smart toy market is expected to be worth about $14 billion this year, rising to $43 billion by 2032, according to data from Mordor Intelligence.
China, which has more than 61 million children under five compared to about 21 million in North America according to UN data, would be an increasingly important market despite declining birth rates, Wong said.
But Chinese consumers’ adaptation of “Western-style” educational toys has been “slower than I expected,” he said.
VTech, which has a market capitalization of approximately $1.6 billion and is also one of the world’s largest cordless phone makers, was an early adopter of a “China plus one” manufacturing strategy with acquired manufacturing facilities in Malaysia in 2018 and 2020. Wong acknowledged the move came after some of their “buyers preferred their products to be manufactured outside China for political reasons.” The company also produces in Mexico.
He said the company has no plans to move its production lines further outside of China, where it holds about 75% of its production capacity.
“I don’t see the US separating from China because the supply chain in China is just too important,” he said. “China is still, overall, the cheapest place to produce.”
https://www.ft.com/content/acf0307c-ca6d-445d-889a-50cbe64d61e2
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