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 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.”

Full analysis : Humanoid robots could create a $7 trillion market in the next 25 years.