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Months of sheltering in place will fundamentally change our lifestyles and will continue to influence the way we live and do business, long after the coronavirus is history, observes Gordon Pape, editor of Internet Wealth Builder.
One trend will be an accelerated move to robotics. Robots can’t catch COVID-19, or anything else. While the rest of us stay home, they can keep factory output going with a minimum of human intervention.
This trend is already been well-established. In mid-2019, a report from Oxford Economics projected that 20 million manufacturing jobs around the world will be taken over by robots by 2030.
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That could accelerate as the world emerges from the crisis, although much will depend on how much capital spending businesses can afford.
The rise of robotics is a two-edged sword. On the one hand, it will improve productivity and reduce the economy’s vulnerability to future pandemics.
On the other, it will leave millions of people without work. Managing that crisis will be a real challenge to business and governments.
One of the companies that should benefit when this trend takes hold is ABB Group (ABB). It’s is a Swedish-Swiss company based in Zurich that trades as an American Depository Receipt on the New York Stock Exchange.
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The company is a world leader in robotics, industrial automation, clean energy, and software development. The stock has not performed well recently but the company appears to be well-positioned to emerge as a winner in the post-coronavirus world.
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