Honeywell (Nasdaq: HON) has just released the findings of its global research study Industrial AI Insights, with a thermometer of the adoption of Artificial Intelligence (AI) in industry in 12 markets, including Brazil. Although only 17% of decision makers worldwide have fully implemented their initial AI plans, 9 out of 10 say they are discovering new unexpected use cases, in the phases of prototyping, launching or scaling of technology implementation. The study also revealed that leaders are very enthusiastic about industrial applications, with 94% of them planning to expand their use.
“There is no doubt that AI is at a special moment”, said Kevin Dehoff, Chief Strategy Officer at Honeywell.“With the advent of generative AI and more advanced analytics data sources, Industrial AI is poised to grow exponentially and the possibilities are endless for revenue growth and employee satisfaction
Specifically in Brazil, the total deployment of the technology is already a reality for 24% of the companies interviewed, 7 percentage points above the global average. For Jose Fernandes, president and CEO of Honeywell for Latin America, companies only have to gain from the adoption of AI, especially in industrial automation, one of the megatrends of focus of the company this year.
“Automation, one of our megatrends for this year, combined with artificial intelligence, can enable companies to improve their entire operation, with tools that can prevent problems, resulting in resource savings and, of course, productivity growth”, he says.
AI unlocks workplace benefits
When asked what they think about the impact of AI on the workplace, nearly two-thirds (64%) of respondents cited efficiency and productivity gains among the main benefits.In Brazil, this figure reaches 67%.
Sixty percent say improved cybersecurity and threat detection results from AI, and 59% report better decision-making due to real-time data generation.
Below, other highlights of the perceived benefits in the workplace from using AI:
- Greater work flexibility (49%, global average, against 54% in Brazil)
- Higher job satisfaction (45%, global average, versus 46% in Brazil)
- More time for skills development and creative thinking (44%, global average, versus 53% in Brazil)
- Increased workplace safety (39%, global average)
Skills development is crucial in today's economy and AI can contribute to empowering workers faster, transforming industries and enabling professionals to be more productive and strategic.
Lucian Boldea, president and CEO of Honeywell Industrial Automation, exemplifies how technology can help in this regard: “There may be tens of thousands of instruments, equipment and valves needed to process and manufacture a product. Many technologies provided by large companies such as Honeywell require highly experienced technicians for operation and maintenance & there are fewer and fewer professionals of this level. With AI training, in which it functions as a “pilot”, we can quickly update the skills of the less experienced, turning them into specialists who perform tasks based on business knowledge and best practices.In turn, factory operations will be run more safely and reduce errors, dramatically.
Other data highlighted in the Brazilian scenario are:
- Two-thirds (66%) of respondents plan to expand AI to new uses.
- 81% expects to pay more to attract AI engineers.
What's Coming for AI
While enthusiasm for AI expansion is palpable, there are still some challenges on the path to full adoption.More than a third of respondents (37%) feel that high-level executives still do not fully understand how the technology works and nearly half (48%) say they have to continually justify or solicit the resources needed to implement it.
“Companies of all kinds recognize that AI is transforming our world and generating new possibilities.For construction operations such as hospitals, campuses and offices (IT is clearly the future.As AI orchestrates the controls that regulate the use of HVAC [an acronym that refers to Heating, Ventilation and Air Conditioning systems], lighting and electricity, it helps improve safety, operational and sustainability outcomes for”, said Billal Hammoud, president and CEO of Honeywell Building Automation.
All of this suggests that the pace of change will be driven by compelling use cases that can be measured in terms of improving business performance.As new solutions demonstrate clear benefits for productivity and creativity, adopting AI will increase job satisfaction and the potential to transform industrial operations, increase productivity and address skills shortages.
To learn more about Honeywell's research results and work on AI and automation, visit www.honeywell.com/us/en/ai/research.
Methodology
Honeywell commissioned Wakefield Research to survey AI leaders around the world. The online survey, conducted from April 22 to May 2, 2024, involved 1,600 executives in 12 global markets (USA, Brazil, Canada, China, France, Germany, India, Japan, Mexico, UK, Saudi Arabia and the United States).
