ABB On Hunt For Acquisitions In Artificial Intelligence

Swiss engineering company ABB is considering acquisitions to increase its capabilities in artificial intelligence, CEO Ulrich Spiesshofer said March 29. "We will continually further expand the portfolio of ABB," he said, speaking on the sidelines of the company's annual general meeting in Zurich. This would include investment in organic growth in artificial intelligence (AI), and partnerships with other companies to accelerate areas such as linking AI to industrial robots. ABB, whose products also include charging stations for electric cars and massive converters for continent-spanning transmission systems, would also invest selectively in start-up companies, Spiesshofer said. He was speaking after ABB gave a slightly more upbeat assessment about the development of its markets for 2018, saying conditions had brightened.