Great strides have been made in technology and artificial intelligence, making humanoid robots seem like a not-so-distant reality.
In a recent episode of Opening Bid, Citi Global Insights analysts Rob Garlick and Wenyan Fei discussed their research on the advancement of humanoid robots over the next 25 years.
“Robots are hardly new, but there’s a number of new developments that are happening,” Garlick told Yahoo Finance Executive Editor Brian Sozzi, adding, “Artificial intelligence [is] probably the most important.”
The study suggested that one of the most likely areas for humanoid robots to make significant progress is in home services. Robots that can complete chores, such as folding laundry or mowing the lawn, and those designed to help care for older adults are projected to experience significant growth. Other use cases include parcel delivery, construction, and food delivery.
“I think by 2050 we are looking at a $7 trillion market for humanoids,” Fei said.
Tesla’s (TSLA) Optimus is one prominent example of a humanoid robot in development, but dozens of other companies are also making significant advancements in this field. According to the analysts, there are “over 50 different humanoids in development.”
Nov 29, 2024 Opening Bid
The humanoids are coming! Amazing advancements are underway in the field of humanoids, which will likely lend way to more of the driving the future of work. Yahoo Finance executive editor Brian Sozzi goes inside the emerging world of humanoid robots with Rob Garlick and Wenyan Fei, analysts at Citi Global Insights.
The duo just published a lengthy piece of research outlining the growth potential of humanoids looking out to the year 2050.
The market is emerging very fast, and there are more players in the mix for winning the robot race than Tesla CEO Elon Musk and upstart Figure. The advances in humanoids will also change how work is done, impacting the labor force in profound ways, says the Citi analysts.
For full episodes of Opening Bid, watch on our website or listen on your favorite podcast platform. To learn more about humanoid robots, check out the Next episode, Why Nvidia and Tesla are betting on AI-powered humanoid robots.
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h/t Digital mix guy Spock