This robot is perfect for educational and research purposes. It is similar to arduino and raspberry pi (they also have a MyCobot Pi version). This robot arm has a ESP32 microcontroller in the form of M5Stack. 

If you are passionate about technology, robotics and vision, or you want to learn how to program, this robot is the best choice for you. It has many APIs and can be programmed in C#, C++, Javascript, Python... Other applications that can be used are MyBlockly, which is like scratch and you can do block programming by drag and drop; UiFlow;Arduino IDE; Roboflow (elephant robotics own software for industrial robots) and if you are a more advanced programmer you can learn OpenCv or ROS (Robot Operative System) which are both open source. This is a great opportunity to have a collaborative robot at home. 

It's also perfect for kids because it's made of light plastic like a toy. And it's also versatile and as it can be mounted on lego.