Artificial intelligence (AI) refers to science-generating devices with functions like reasoning, thinking, learning, and planning. A robot is an intelligent artificial machine capable of sensing and interacting with its environment utilizing integrated sensors or computer vision. In the present day, AI has become a more familiar presence in robotic resolutions, introducing flexibility and learning capabilities. A robot with AI provides new opportunities for industries to produce work safer, save valuable time, and increase productivity. Economic impact assessment and awareness of the social, legal, and ethical problems of robotics and AI are essential to optimize the advantages of these innovations while minimizing adverse effects. The impact of AI and robots affects healthcare, manufacturing, transport, and jobs in logistics, security, retail, agri-food, and construction. The chapter outlines the vision of AI, robot's timeline, highlighting robot's limitations, hence embedding AI to robotic real-world applications to get an optimized solution.