Humanoid robots on the rise: Jobs and the shrinking price tag

Goldman Sachs paints a promising future for humanoid robots, with a market expected to balloon to US$38 billion by 2035. This significant increase is fuelled by advancements in artificial intelligence and a steeper-than-anticipated rise in investment. But what does this mean for the workforce? As these robots become cheaper, their capabilities will expand, potentially replacing humans in various sectors.

Previously, analyst projections placed the market around US$6 billion. This dramatic upward revision highlights the rapid progress in the field. The report’s author, Jacqueline Du, suggests that humanoid robots could soon handle everything from tedious chores like laundry folding to hazardous tasks like waste management and disaster response.

Jobs to be replaced by humanoid robots

AI job cuts — *Photo by Mikhail Nilov on Pexels.com.*

The cost of these robots is also a key factor. While the exact figures aren’t mentioned, the past estimates were likely much higher than the anticipated future price. This affordability will be a game-changer, making them a more feasible option for various industries.

So, which jobs are most at risk of being replaced? The report points to car manufacturing as a prime example, with a potential substitution rate of 5-15%. Repetitive tasks on assembly lines could be efficiently handled by robots, especially as their dexterity and ability to handle complex tools improve.

Another area ripe for automation is dangerous jobs. Humanoid robots could be invaluable in situations like nuclear reactor maintenance or disaster rescue, where the risk of human injury is high. Their ability to withstand extreme environments and perform intricate tasks makes them ideal for such roles.

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Promising investment opportunities

The report also acknowledges a “blue-sky” scenario where innovation explodes and demand skyrockets. In this case, humanoid robots could become ubiquitous, akin to smartphones or electric vehicles in their level of adoption. This would undoubtedly have a more significant impact on the job market, requiring workforce adaptation and retraining programmes.

For now, Goldman Sachs sees the most promising investment opportunities in the component makers that form the backbone of this industry. These companies will be crucial in driving down costs and developing the technological advancements that will shape the future of humanoid robots.

The rise of humanoid robots presents both challenges and opportunities. While some jobs will undoubtedly be lost to automation, new ones will likely emerge in the fields of design, maintenance, and programming these complex machines. The key will be to prepare the workforce for this transition and ensure a smooth adaptation to a future where humans and robots work side-by-side.

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Rise of the machines? Upskill with Skillshare to stay ahead

In a recent article, we explored the potential impact of humanoid robots on the job market. While these robots offer exciting advancements, their affordability and expanding capabilities raise concerns about job displacement. But fear not! There are steps you can take to stay competitive and future-proof your career.

This is where Skillshare comes in. As automation takes hold, the ability to adapt and acquire new skills will be paramount. Skillshare provides a treasure trove of online courses designed to empower you with in-demand expertise across various fields.

Here’s how Skillshare can help you navigate the rise of humanoid robots:

How Skillshare can help you

Identify in-demand skills

Explore Skillshare‘s expansive course library to identify skills that are complementary to, or irreplaceable by, robots. For example, while robots might excel at data analysis, courses on data interpretation and storytelling can equip you to translate insights into actionable strategies, a human strength robots lack.

Sharpen your soft skills

Humanoid robots might dominate manual labor, but human-centric skills like communication, leadership, and critical thinking will remain irreplaceable. Skillshare offers a plethora of courses on communication, negotiation, and project management, all designed to hone your soft skills and make you a more valuable asset.

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Embrace lifelong learning

The future of work demands agility and a willingness to adapt. Skillshare fosters a growth mindset with its vast collection of courses across diverse fields. Whether you’re interested in coding, animation, or marketing, Skillshare allows you to continuously learn and stay ahead of the curve.

Network and collaborate

Skillshare fosters a community of learners and creators. Connect with professionals in your field, share your knowledge, and collaborate on projects. Building a strong network can open doors to new opportunities and equip you with the collaborative skills crucial in the modern workplace.

By leveraging Skillshare‘s resources, you can transform yourself into a well-rounded professional with a unique skillset that complements, rather than competes with, robots. Remember, the future of work is about collaboration, not competition. Embrace lifelong learning, cultivate your soft skills, and stay curious – these are the keys to staying relevant in an ever-evolving job market.

So, don’t view the rise of robots with trepidation. See it as an opportunity to reinvent yourself and unlock your full potential. With Skillshare as your partner, you can navigate the changing tides of the workforce and emerge a winner in the age of automation.