Stanley Black & Decker Partners with DeepHow to Deploy AI-Powered Technology

Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) has announced a partnership with DeepHow to utilize its AI-driven platform for improving training and knowledge transfer among skilled workers. This initiative aims to enhance efficiency in training programs and promote a culture of safety. The collaboration will also help DeepHow expand its customer base in sectors like manufacturing and construction. With a focus on addressing the skilled labor shortage, this partnership seeks to create innovative solutions to meet industry challenges.

Positive

• Partnership with DeepHow enhances training efficiency and knowledge transfer.
• DeepHow's AI platform aims to address skilled labor shortages in manufacturing and construction.
• Collaboration allows Stanley Black & Decker to expand its customer outreach.

Negative

• None.

SAN JOSE, Calif., July 16, 2020 /PRNewswire/ -- STANLEY X, the Innovation hub of Stanley Black & Decker (NYSE: SWK), today announced a partnership with DeepHow, the first AI solution to train and transfer knowledge among skilled workers.

As a partner, Stanley Black & Decker will use DeepHow's innovative AI platform in its up-skilling programs. This high-tech platform called "Stephanie" will improve knowledge capture, increase training efficiency, and help grow the culture of safety at the company. Stanley Black & Decker will also help bring DeepHow's AI platform to its existing customer base and scale its adoption, focusing on manufacturers, contractors, trade schools and unions.

"There is a tremendous opportunity to help our customers minimize the disruption caused by employee turnover," said Kevin Lemke, VP of Strategy for Stanley Black & Decker's Innovation Group. "DeepHow is the only AI knowledge transfer system for the skilled trades, and we view it as an integral part of the ecosystem we are beginning to build."

"Our team is very excited to bring on Stanley Black & Decker as our go-to-market partner," says Dr. Sam Zheng, CEO of DeepHow. "We think about manufacturing and construction as prime opportunities for our AI-powered knowledge capturing and learning platform, given the aging workforce and skilled labor shortage. Because of Stanley Black & Decker's strong positions across the tools and storage, security and industrial markets, this partnership will greatly accelerate innovative uses for DeepHow to help their customers find solutions to business challenges."

Established in 2018, DeepHow bridges the skills gap challenge in manufacturing, service, and construction industries through an AI-powered knowledge capturing and learning platform. While experts perform their individual tasks and processes, DeepHow captures their workflow via a mobile app. Using the latest AI technologies, this captured data is extracted and synthesized, turning complex workflows into step-by-step, how-to videos. Not only does the AI platform seamlessly capture and organize expert knowledge, but it also delivers just-in-time information to workers in multiple languages, making knowledge digitalization highly efficient and scalable across the enterprise. 

"Learning from videos has become the most preferred way of learning," says Patrik Matos, Chief Product Officer of DeepHow. "But traditional video production is labor-intensive, time-consuming, and not scalable for enterprises. Our DeepHow AI platform introduces a paradigm shift for technical training. It enables companies that rely on skilled labor the ability to rapidly create a usable, accessible knowledge library to learn effectively, improve safety, and increase productivity. Stanley Black & Decker's extensive reach and reputation within the industry will help us deliver on our mission."

"By engaging with DeepHow at this early stage, Stanley Black & Decker is looking to apply the power of the technology to the biggest needs of the industry and develop a suite of solutions to benefit our current and future customers," said Mike Keogh, President of STANLEY X. "Our partnership with DeepHow gives us another way to help our customers gain competitive advantage by using technology to solve some of their biggest challenges."

Learn more about the partnership in this video.

About STANLEY X and Stanley Black & Decker

STANLEY X is the innovation hub of Stanley Black & Decker. Through innovation, collaboration, and smart risk-taking, it aims to drive positive change by addressing the right problems to improve lives. For more information, visit www.stanleyx.com

Stanley Black & Decker is a $14 billion revenue, purpose-driven industrial organization. Stanley Black & Decker has 58,000 employees in more than 60 countries (as of 2019) and operates the world's largest tools and storage business, the world's second-largest commercial electronic security company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include BLACK+DECKER, Bostitch, CRAFTSMAN, DEWALT, FACOM, Irwin, Lenox, Porter Cable and STANLEY. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place.  

About DeepHow

DeepHow (www.deephow.com) was founded in 2018 by a team of ex-Siemens researchers and engineers who saw an unmet need to transfer knowledge in the skilled trades labor market. They developed a solution that bridges the skills gap in manufacturing, service, and construction through an AI-powered knowledge capturing and learning platform based on smart how-to videos. Its platform, AI Stephanie, streamlines know-how capturing and knowledge transfer with simple, intuitive user interfaces, delivering 1) 10x time-saving for content creation using AI workflow indexing and segmentation;  2) 25% performance improvement using smart how-to videos, and 3) high customer satisfaction at 90+ Net Promoter Score  demonstrating the ease of use and adoption.

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SOURCE Stanley Black & Decker

FAQ

What is the partnership between Stanley Black & Decker and DeepHow about?

Stanley Black & Decker has partnered with DeepHow to leverage its AI platform for training and knowledge transfer among skilled workers.

How will the partnership impact Stanley Black & Decker's customers?

The partnership is designed to improve training efficiency, enhance safety culture, and help customers address workforce challenges.

When was the partnership between SWK and DeepHow announced?

The partnership was announced on July 16, 2020.

What sectors will benefit from the SWK and DeepHow collaboration?

The collaboration will primarily benefit sectors like manufacturing, construction, trade schools, and unions.

What technology does DeepHow provide for the partnership?

DeepHow provides an AI-powered platform that captures workflows and creates instructional videos to aid in training and knowledge sharing.