“Automation will work in conjunction with and will increase the number of jobs, not eliminate them.”
Uncertain and volatile
The global economy remains uncertain and volatile, which means companies must be ready to adapt quickly as elections in Germany and France will have a lasting impact, said Ulrich Spiesshofer, CEO of ABB Group, the Swiss engineering, and automation company.
“For us as industrial leaders, it is very important for us to stay extremely agile,” he said in an interview with TheStreet on Tuesday during CERAWeek by IHS Markit. “Brexit has a dampening effect on the European economy and what will come out of the major elections nobody knows at the moment.”
“Artificial intelligence will make life more safe, convenience will go up and humans will be focused more on the creativity elements that will always stay with humans,” he said. “We will have a different way of focusing on human work.”
The outcome of some of the European elections will have “quite a significant impact” on energy policy on the economies and market, said Spiesshofer.
While the impact of geopolitical tensions on the markets remain unknown, he remains optimistic about many regions of the world which are continuing to expand by adding infrastructure and other projects as the population increases.
The continued growth in China and India as well as Japan’s “moderate growth pattern” are all positive indicators. The Middle East is “reinventing itself” as the region ramped up the use of renewable energy five years ago and presents “remarkable opportunities” as many countries are investing in infrastructure, he said. Africa demonstrates underlying opportunities with its strength in its natural resources as the continent represent one of the fastest growing populations, resulting in good market dynamics.
Over $10 billion
Spiesshofer believes that 2017 will likely emerge as a “transition year” for many regions of the world while the long-term sentiment of the U.S. is “very positive.”
ABB has invested over $10 billion over the past six years in North America, strengthening its footprint. Spiesshofer is a fan of the current agenda […]