Mint Primer: A robot for every 3 people: What happens to us?

Copyright © HT Digital Streams Limit all rights reserved. Tesla’s Optimus Robot on the 2024 Auto Show in October. (Reuters) Summary The number of humanoid robots in use could reach three billion by 2060, while the world population is projected at 10.07 billion that year. The number of humanoid robots in use could reach three billion by 2060. With the world population projected at 10.07 billion that year (Source: Worldeter), it’s one robot for every three of us. What can this shift mean for human employment, identity and purpose? What does the stars predict about robots? Humanoid robot ownership can touch 3 billion units by 2060, a new Bank of America (Bofa) report says. Midjourney founder David Holz predicts 1 billion humanoids on earth by the 2040s and 100 billion in the solar system by the 2060s – an idea endorsed by Elon Musk. Sun Microsystems, co-founder Vinod Khosla, see 1 billion Bipedale robots by 2040. Also read | Elon Musk reveals planning to launch Tesla Robotaxis and Humanoid Robots in Saudi Arabia Morgan Stanley, predicts sales of 900,000 units by 2030. Macquarie expects 6.3 million robots and a $ 139 billion market with 2035. 2035 as robot dens see Surnes. Why are they all so bullish? As the cost of human labor increases, humanoid robots rise cheaper and global investments, from $ 308 million in 2020 to $ 1.1 billion in 2024, according to Bain & Co. Can these robots now run, jump and become smarter with progress in artificial intelligence (AI) and generative AI. Bofa predicts that they will take 20% of industrial and 50% of service functions by 2060, and even surpass cars. Sns Insider appreciates the market at $ 2.21 billion in 2023, which is expected to amount to $ 76.97 billion by 2032, with Japan, China and US leading adoption in older care, defense, retail, manufacturing and logistics. Read also | Musk’s humanoid robots are here, but they won’t help in the house how much does humanoid robots cost? Bofa says Humanoid Robot Hardware will cost dollars per unit per unit per unit per unit per unit per unit, and it drops to $ 13,000-17,000 by 2030-2035 due to scale and improved components. Meanwhile, the robots-a-a-service (RAAS) model provides access via cloud-based subscriptions, robots more affordable for smaller firms that cannot bear high pre-cost costs. How will this affect the workforce? Bain & Co. Expect robots to handle a wide range of physical tasks within five years at cost equal to or lower than human labor. Raising a child costs $ 100,000-300,000 and takes 20 years in the US (Rethinkx), while a humanoid robot can be deployed within a year for the price of a budget car. By 2035, a million robots could enter the workforce for only $ 10 billion. Macquarie predicts robots can be just as essential for families as cars, with widespread home use expected from the late 2030s to 2050s. Read also | Meta is reportedly beginning in the investment in humanoid robots, with setting up a show with Elon Musk’s Tesla a C-3po in every home sounds pretty good … something like the Star Wars Droid can be you for a price. Since the young balance between work and life prioritizes, firms can get humanoid robots to fill labor and skills gaps. But AI-powered humanoids such as Tesla’s Optimus, Boston Dynamics ‘Atlas, Xiaomi’s Cyberone and India’s Vyommitra raise questions about liability, legal status (Hanson Robotics’ Sophia is a Saudi citizen), rights and potential for prejudice. Futuris Ray Kurzweil believes that by 2045, people can reach a million-simple intelligence with slides embedded in our brain. Catch all the technological news and updates on live currency. Download the Mint News app to get daily market updates and live business news. More Topics #Primer #Technology Mint Specials