In previous notes we have reviewed the history and potential of artificial intelligence. Today the question worth asking is what's next?

The future of artificial intelligence goes beyond chatbots. We are evolving towards AI agents that not only process information, but also perform complex tasks and make decisions. The next phase, which is already beginning, is to marry these digital brains with physical bodies: humanoid robots. The combination promises a profound and long-term economic impact.

Although the evolution of this new industry may seem utopian and distant, the truth is that there are already prototype developments and studies that indicate the impact it could have on different areas of the economy. One that generates a lot of discussion due to its major impact is the labor market.

According to estimates by Morgan Stanley using data from the Bureau of Labor Statistics, by 2050 humanoids could replace up to 62 million jobs in the United States, mostly replacing manufacturing and logistics jobs (Tier 1) and to a lesser extent jobs requiring more analytical skills (Tier 3).

In regional termsChina leads in the number of patents and the launch of new humanoid-related projects, taking advantage of its large mass production capacity.The U.S. maintains its focus on chip development and artificial intelligence models, and Europe and Japan focus on industrial automation and precision.

A humanoid is composed of two key parts:

The brainwhich is composed of advanced AI systems, control software and high-performance semiconductors that process information, plan and make decisions.

The body, in which the mechanical part that delivers the physical capacity is developed: motors, gears, actuators, sensors and batteries.

The integration between the body and the brain will make it possible to move from solving problems on the computer to solving them physically in the real world. The potential is enormous, but we must also consider that the technical and investment challenge will be high.

Possible risks that could slow down the massification of this new industry:

1. Technological limitations: energy autonomy still low (batteries).
2. High costs: both operational and key components (sensors, actuators, batteries).
3. Social resistance: concern about job replacement and daily interaction with robots.

In terms of investment opportunities, the attractiveness of this new industry is not only in companies engaged is not only in companies dedicated to humanoid manufacturing, but also in other parts of the value chain, on the one hand, semiconductors and AI software to power the humanoid's brain, and on the other hand, both mechanical and sensory components for humanoid operation.In the humanoid industry, the value chain includes, on the one hand, semiconductors and AI software to power the humanoid's brain, and on the other hand, both mechanical and sensory components for optimal functioning of the humanoid's body.

Factors such as DeepSeek earlier this year, which drastically reduce the costs of using AI, act as catalysts to accelerate adoption.

We are facing an early stage industry, but with a growth potential that can redefine entire sectors of the economy. The convergence of autonomous AI and humanoid robotics can increase productivity, reshape the labor market and open up new business spaces.

Tomas Fernandez
Discretionary Portfolio Analyst