Tech giants embracing humanoid robots

A humanoid robot demonstrates electro-welding skills. "Currently, new technologies, products and formats represented by humanoid robots and general artificial intelligence are thriving and becoming the pinnacle of global technological innovation, a new track for future industries and a new engine for economic growth," said Xu Xiaolan, former vice-minister of industry and information technology and a member of the Standing Committee of the Chinese People's Political Consultative Conference National Committee. Chen Jia, a researcher at the International Monetary Institute of Renmin University of China, said, "Humanoid robots will be an industry field with great growth potential in the next decade, driven by the latest technological advancements in AI." The total addressable market for humanoid robots is projected to reach $38 billion by 2035, up more than sixfold from a previous projection of $6 billion, said Jacqueline Du, head of China Industrial Technology research and an analyst at Goldman Sachs Research. "In the past six to eight months, a large number of new humanoid robots companies have emerged, indicating the public's recognition of this industrial segment," said Fu Chunjiang, vice-president of UBTech Robotics, a Shenzhen, Guangdong province-based AI and humanoid robotics company.