ABB CEO Says Automation and Artificial Intelligence Will Increase Number of Jobs – TheStreet.com

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 withTheStreet 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."

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.

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."

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ABB CEO Says Automation and Artificial Intelligence Will Increase Number of Jobs - TheStreet.com