Did you know 3 Billion Humanoid Robots Could Exist by 2060, Bank of America Forecasts
According to a new report published by the Bank of America, many
businesses will start using humanoid robots by 2028, and around 1
million units will be shipped yearly by 2030. The manufacturing price of
each robot could be $17,000, and their adoption will happen in three
stages. The report states that the first stage will be the deployment of
humanoid robots in warehouses and factories, then they will start being
used in businesses like hospitality and retail, and after that, they
will finally get to houses.
The report
has also estimated that there will be 3 billion robots in the world by
2060. The number of these robots is based on the jobs they would
replace. The humanoid robots will take over 20% of the industrial jobs,
with the replacement of 1.5 to 2.5 workers in different industries, and
there will be an average of 0.7 robots in every household. The first big
wave of humanoid robots will be from 2028 to 2034, and it will focus on
commercial use. The second wave will start in 2035, and it will make
those robots available in homes for tasks like cooking, elder care,
cleaning, and healthcare.
In 2025, manufacturers of humanoid robots are expected to ship around 18,000 robots, and the number will reach 10 million per year by 2030. By 2060, there will be 2 billion humanoid robots in homes, 1 billion in service industries, and only a few hundred million in factories. This means that most of the humanoid workers will take over unpaid work at home, which will replace paid jobs. There will be many challenges to the mass adoption of robots as well, like more real-world data to train AI, more advanced AI for communication, cost-effective robot designs, and better motion and balance systems. The biggest problem with manufacturing humanoid robots is their hands, as they are very complex and make up 20% of the total robot’s cost.
