Power Tool Industry January 2021
Robert Bosch Power Tools
Robert Bosch CEO Volkmar Denner called for the creation of an artificial intelligence (AI) code and noted that Bosch intends to become a leading AI and Internet of Things (IoT) company. The head of the Bosch Center of Artificial Intelligence, Christoph Peylo, noted that AI will fundamentally change society, but some people are fearful that machines will end up in control of people. Therefore, AI must be programmed according to ethical standards that ensure that does not happen.
Stanley Black & Decker
SB&D boosted their outlook for the remainder of the year due to stronger demand for tools and storage across North America, Europe and emerging markets, as well as improved performance in engineered fastening and attachment tools within their industrial segment. Tools and storage US retail sales are tracking above the high end of planning assumptions for the fourth quarter, with quarter to date growth up 22% through December 5 and organic growth approaching 10% compared to prior assumptions of 3% to 5% growth.
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