JP Morgan says humanoid robots could help ease a chronic labor shortage in U.S. manufacturing, where job openings are already large and projected to grow. The research note on Hyundai found about 462,000 manufacturing jobs are currently unfilled, a figure the bank expects to rise to 1.6 million by 2030.
The bank estimated that humanoid robots could fill 25% of those jobs now, with that share potentially reaching 50% by 2030 as the technology improves. Tasks identified in the report include materials handling, parts transfers, machine tending and quality inspections.
Cost is a major factor behind the outlook. JP Morgan said humanoid robots in warehouses could cost about $10 to $12 an hour to operate, compared with roughly $30 an hour for human workers. The bank also said current robot productivity trails human labor, with about two robots needed to match one worker’s output, though that gap could narrow to 1.2 to 1.3 robots per worker by 2030.
The report said humanoid robots are more likely to complement human workers than fully replace them. JP Morgan also cited three main bottlenecks for wider adoption: the robot “brain,” hands and supply chain. Hyundai owns Boston Dynamics, and the report said Hyundai is making progress on the brain and supply chain issues, while the more difficult hand technology may still come from outside suppliers. The bank estimated the average selling price of a humanoid robot at about $120,000, far above Tesla CEO Elon Musk’s long-term target of $20,000 to $30,000.
