INDUSTRIAL AI UPTAKE IS JUST GETTING STARTED BUT MAJORITY OF SECTOR IS UNCOVERING NEW USE CASES, FINDS HONEYWELL RESEARCH
Honeywell's Industrial AI Insights global research study reveals that AI adoption in the industrial sector is just beginning, with only 17% of AI decision-makers having fully implemented their initial plans. However, 94% of those surveyed plan to expand their AI utilization, indicating strong enthusiasm for the technology. The study highlights key benefits of AI in industrials, including:
- Efficiency and productivity gains (64%)
- Improved cybersecurity and threat detection (60%)
- Better decision-making through real-time data (59%)
- Increased work flexibility (49%)
- Greater job satisfaction (45%)
AI is seen as a solution to address the industrial skills shortage by enabling faster upskilling and reskilling of workers. Despite challenges such as C-Suite understanding and resource justification, the pace of AI adoption is expected to increase as new solutions demonstrate clear benefits to workforce productivity, safety, and reliability.
Lo studio di ricerca globale di Honeywell sulle Intelligenze Artificiali Industriali rivela che l'adozione dell'IA nel settore industriale è appena iniziata, con solo il 17% dei decisori in materia di IA che ha pienamente implementato i propri piani iniziali. Tuttavia, il 94% degli intervistati prevede di ampliare l'utilizzo dell'IA, indicando un forte entusiasmo per questa tecnologia. La ricerca evidenzia i principali benefici dell'IA nel settore industriale, tra cui:
- Aumento dell'efficienza e della produttività (64%)
- Miglioramento della cybersecurity e della rilevazione delle minacce (60%)
- Decisioni migliori grazie ai dati in tempo reale (59%)
- Maggiore flessibilità lavorativa (49%)
- Maggiore soddisfazione lavorativa (45%)
L'IA è vista come una soluzione per affrontare la carenza di competenze industriali, consentendo una più rapida riqualificazione e aggiornamento dei lavoratori. Nonostante le sfide come la comprensione da parte del C-Suite e la giustificazione delle risorse, si prevede che il ritmo di adozione dell'IA aumenti man mano che nuove soluzioni dimostrano chiari benefici in termini di produttività, sicurezza e affidabilità del personale.
El estudio de investigación global de Honeywell sobre IA Industrial revela que la adopción de IA en el sector industrial apenas está comenzando, con solo el 17% de los tomadores de decisiones en IA que han implementado completamente sus planes iniciales. Sin embargo, el 94% de los encuestados planea expandir su utilización de IA, lo que indica un fuerte entusiasmo por la tecnología. El estudio destaca los beneficios clave de la IA en la industria, que incluyen:
- Incremento de la eficiencia y la productividad (64%)
- Mejora de la ciberseguridad y la detección de amenazas (60%)
- Mejor toma de decisiones a través de datos en tiempo real (59%)
- Mayor flexibilidad laboral (49%)
- Mayor satisfacción laboral (45%)
Se considera que la IA es una solución para abordar la escasez de habilidades en la industria, permitiendo una capacitación y recualificación más rápida de los trabajadores. A pesar de los desafíos, como la comprensión de la alta dirección y la justificación de recursos, se espera que la tasa de adopción de la IA aumente a medida que nuevas soluciones demuestren beneficios claros para la productividad, la seguridad y la fiabilidad de la fuerza laboral.
하니웰의 산업 AI 인사이트 글로벌 연구에서는 산업 부문에서 AI 채택이 이제 시작 단계에 있다고 밝혔습니다. AI 결정권자의 17%만이 초기 계획을 완전히 구현한 상태입니다. 그러나 조사에 응답한 94%는 AI 활용을 확대할 계획이며, 이는 기술에 대한 강한 열망을 나타냅니다. 이 연구는 산업에서 AI의 주요 이점을 강조합니다:
- 효율성과 생산성 향상 (64%)
- 사이버 보안 및 위협 감지 개선 (60%)
- 실시간 데이터를 통한 더 나은 의사 결정 (59%)
- 근무 유연성 증가 (49%)
- 직무 만족도 향상 (45%)
AI는 근로자의 신속한 기술 향상과 재교육을 가능하게 하여 산업 분야의 인력 부족 문제를 해결하는 솔루션으로 여겨집니다. C-Suite의 이해 부족과 자원 정당화와 같은 도전 과제가 존재하지만, 새로운 솔루션이 인력의 생산성, 안전 및 신뢰성에 명확한 이점을 보여줄 경우 AI 채택 속도가 증가할 것으로 예상됩니다.
La recherche mondiale de Honeywell sur les perspectives de l'IA industrielle révèle que l'adoption de l'IA dans le secteur industriel ne fait que commencer, avec seulement 17 % des décideurs en matière d'IA ayant complètement mis en œuvre leurs plans initiaux. Cependant, 94 % des personnes interrogées prévoient d'élargir leur utilisation de l'IA, ce qui indique un fort enthousiasme pour la technologie. L'étude met en évidence les principaux avantages de l'IA dans l'industrie, notamment :
- Gains d'efficacité et de productivité (64%)
- Amélioration de la cybersécurité et détection des menaces (60%)
- Meilleure prise de décision grâce à des données en temps réel (59%)
- Flexibilité professionnelle accrue (49%)
- Plus grande satisfaction au travail (45%)
On considère l'IA comme une solution pour pallier le manque de compétences dans l'industrie en permettant une montée en compétences et une reconversion plus rapides des travailleurs. Malgré des défis tels que la compréhension des cadres supérieurs et la justification des ressources, on s'attend à ce que le rythme d'adoption de l'IA augmente à mesure que de nouvelles solutions démontrent des avantages clairs en matière de productivité, de sécurité et de fiabilité de la main-d'œuvre.
Die globale Forschung von Honeywell zu industriellen KI-Einblicken zeigt, dass die Einführung von KI im Industriesektor gerade erst beginnt, wobei nur 17 % der KI-Entscheidungsträger ihre ursprünglichen Pläne vollständig umgesetzt haben. Dennoch plant eine Mehrheit von 94 % der Befragten, ihre AI-Nutzung auszuweiten, was auf eine große Begeisterung für diese Technologie hindeutet. Die Studie hebt die wichtigsten Vorteile von KI in der Industrie hervor, darunter:
- Effizienz- und Produktivitätsgewinne (64%)
- Verbesserte Cybersicherheit und Bedrohungserkennung (60%)
- Bessere Entscheidungsfindung durch Echtzeitdaten (59%)
- Erhöhte Arbeitsflexibilität (49%)
- Höhere Arbeitsplatzzufriedenheit (45%)
AI wird als Lösung betrachtet, um den Fachkräftemangel in der Industrie zu bewältigen, indem eine schnellere Weiterqualifizierung und Umschulung der Mitarbeiter ermöglicht wird. Trotz Herausforderungen, wie etwa dem Verständnis der Führungsebene und der Ressourcenbegründung, wird erwartet, dass das Tempo der KI-Adoption zunimmt, da neue Lösungen klare Vorteile für Produktivität, Sicherheit und Zuverlässigkeit der Belegschaft demonstrieren.
- 94% of surveyed AI leaders plan to expand their AI utilization
- 64% of respondents cite efficiency and productivity gains as a key benefit of AI
- 60% report improved cybersecurity and threat detection from AI implementation
- AI is seen as a solution to address the industrial skills shortage
- AI enables faster upskilling and reskilling of workers
- Only 17% of AI decision-makers have fully implemented their initial AI plans
- 37% feel that their C-Suite doesn't fully understand how AI works
- 48% say they are having to continually justify or request resources for AI implementation
Insights
The findings from Honeywell's research study underscore the transformative potential of AI in industrial settings. With only 17% of AI decision-makers having fully implemented their AI plans, it’s evident that we are in the early stages of industrial AI adoption. However, the high rate of discovering new use cases (over 90%) suggests that AI’s applications are expanding rapidly. In particular, the potential for AI to enhance productivity, cybersecurity and decision-making underscores its broad utility. From a technical perspective, the integration of Generative AI and advanced analytics will likely enable more sophisticated and real-time data processing, driving further efficiency and innovation.
Moreover, AI's capability to upskill and reskill workers addresses a critical challenge in the industrial sector: the skills shortage. AI’s role as a “co-pilot” for less experienced technicians can significantly enhance operational reliability and safety, reducing human error. This technological advancement is essential as industries face a retiring workforce and a gap in experienced technicians.
In summary, the ongoing AI integration in industrial environments promises substantial improvements in operational efficiency, safety and workforce development, positioning AI as a pivotal technology in shaping the future of industrial operations.
The enthusiasm for AI investment in Honeywell’s study is nearly universal among industrial leaders, with 94% planning to expand their AI utilization. This high level of commitment reflects a significant trend: businesses are increasingly recognizing the tangible benefits that AI can provide. These include heightened productivity, enhanced cybersecurity and better decision-making capabilities. As more businesses showcase successful AI implementations, we can expect a domino effect, where late adopters feel the pressure to incorporate AI to stay competitive.
However, there are barriers to adoption. A notable 37% of respondents indicate that their C-Suite does not fully understand AI and nearly half face challenges in securing resources for AI initiatives. This points to a broader issue of knowledge and resource gaps within organizations, which could slow down AI integration. For retail investors, this dichotomy presents both opportunities and risks. Companies that can overcome these barriers and demonstrate clear ROI from AI investments will likely see enhanced market performance and investor interest.
From a market perspective, the survey indicates that AI’s future in the industrial sector is promising but contingent on overcoming internal obstacles. Investors should look for companies that are not only adopting AI but also effectively managing the associated organizational and resource challenges.
Honeywell’s research provides valuable insights into the current and future state of AI in the industrial sector. The fact that AI leaders are uncovering new use cases and plan to expand their AI investments suggests a growing market potential. For investors, this translates to potential revenue growth as AI-driven efficiencies and innovations could lead to cost savings and new revenue streams.
However, the challenges highlighted—such as the lack of understanding in the C-Suite and the need for continuous resource justification—are critical factors that could impact the pace of AI adoption. Companies that can effectively address these issues are likely to be the frontrunners in reaping the benefits of AI. Therefore, investors should consider not only the AI capabilities of a company but also its leadership and strategic vision for AI.
From a financial perspective, the integration of AI into industrial operations represents a significant opportunity for value creation. The potential for improved productivity, enhanced safety and better decision-making can lead to stronger financial performance. Investors should closely monitor companies that demonstrate a clear and effective AI strategy, as these are likely to offer better long-term returns.
Workforce productivity, flexibility, and safety are cited as key gains from AI applications along with its potential to address the industrial skills shortage
CHARLOTTE, N.C., July 23, 2024 /PRNewswire/ -- Honeywell (Nasdaq: HON) today released the findings of its Industrial AI Insights global research study, which captures the state of Artificial Intelligence (AI) in the sector. While only
The research also finds AI leaders are "sold" on AI for industrial applications. The enthusiasm for a deeper commitment to AI investment is nearly universal, with
"There is no question that AI is currently at a pivotal moment," said Kevin Dehoff, Honeywell's Chief Strategy Officer. "With the advent of Gen AI and more sources of data from advanced analytics, Industrial AI is poised to grow exponentially, and the possibilities are endless for revenue growth and employee satisfaction."
AI Unlocks Workplace Benefits
When asked for their thoughts on the impact of AI on industrials, nearly two-thirds (
Several other benefits of AI for workers were also cited by respondents, including:
- Increased work flexibility (
49% ) - Greater job satisfaction (
45% ) - More time for skills development and creative thinking (
44% ) - Increased workplace safety (
39% )
Skills development is crucial in today's economy with baby boomers retiring and fewer replacements entering the workforce. Through AI, employers can more quickly upskill and reskill workers. AI will transform industrials as it enables workers to perform jobs at higher levels, providing greater job satisfaction while increasing productivity and addressing the skills shortage.
Lucian Boldea, President and CEO of Honeywell Industrial Automation, offered one direct example: "There can be tens of thousands of instruments, equipment, and valves needed to process and manufacture a product and many of the parts we supply manufacturers require highly experienced technicians for operation and maintenance – and there are fewer and fewer of those experienced technicians available. With AI training and AI as a "co-pilot" the skills of a less experienced technicians can more quickly be upgraded, turning them into more elite experts that perform tasks based on enterprise knowledge and best practices. In turn, plants' operations can run more safely and reliably by dramatically reducing human error."
What's Next for AI
While the enthusiasm for AI to expand is palpable, there are still some challenges in the way of full adoption. More than a third of survey respondents (
"Businesses of all types recognize that AI is transforming our world and creating new possibilities. For building operations – such as hospitals, campuses, and offices – it is clearly the future. As AI orchestrates controls that regulate HVAC, lighting and electricity usage, it helps to improve safety, operational and sustainability outcomes," said Billal Hammoud, President and CEO of Honeywell Building Automation.
All of this suggests the pace of change will be driven by compelling use cases that can be measured in terms of improved business performance. As new solutions demonstrate clear benefits to workforce productivity, safety, and reliability, AI adoption will dramatically increase with the potential to transform industrial operations.
To learn more about the survey results and Honeywell's work in AI and automation, please visit www.honeywell.com/us/en/ai/research.
Methodology
Honeywell commissioned Wakefield Research to survey AI leaders around the world. The online survey, which was conducted from April 22 through May 2, 2024, involved 1,600 executives in 12 global markets (US,
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
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