The age-old commentary that robots and AI will steal people's jobs takes on a new face when those robots actually look like humans. In a recent episode of Opening Bid with Yahoo Finance Executive Editor Brian Sozzi, Citi Global Insights analysts Rob Garlick and Wenyan Fei discussed their research on how the evolving technology of humanoid robots will change the US workforce over the next 25 years.
"The economic opportunity of this could be enormous and massive cost savings for businesses that use it....Robots don't take sick leave and don't take holidays," Garlick describes. He further explains that they had theorized that the substitution ratio between humans and robots would be 1:1, but in actuality, "Each robot substituted with 3.3 people. You start multiplying this stuff and it could be quite significant."
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This post was written by Rachael Lewis-Krisky, producer for Opening Bid.
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