Honeywell (Nasdaq: HON) has just released the findings of its global research study Industrial AI Insights, with a thermometer of AI adoption in the industry across 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 during the prototyping, launch, or scaling phases 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 of Honeywell. With the advent of generative AI and more sources of advanced analytics data, Industrial AI is poised to grow exponentially, and the possibilities are endless for revenue growth and employee satisfaction.
Specifically in Brazil, the full implementation of the technology is already a reality for 24% of the companies interviewed, 7 percentage points above the global average. For José Fernandes, president and CEO of Honeywell for Latin America, companies can only benefit from the adoption of AI, especially in industrial automation, one of the company's key megatrends 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, obviously, increased productivity," he states.
AI unlocks workplace benefits
When asked about their thoughts on the impact of AI in the workplace, nearly two-thirds (64%) of respondents cited efficiency and productivity gains as among the main benefits. In Brazil, this number 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 are other highlights of the benefits perceived in the workplace with the use of AI:
- Greater work flexibility (49%, global average, against 54% in Brazil)
- Greater job satisfaction (45%, global average, versus 46% in Brazil)
- More time for skill 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 help upskill workers more quickly, 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 can be tens of thousands of instruments, equipment, and valves needed to process and manufacture a product. Many technologies provided by large companies like Honeywell require highly experienced technicians for operation and maintenance – and there are fewer and fewer professionals at that level. With AI training, where it functions as a 'copilot,' we can quickly update the skills of less experienced workers, transforming them into specialists who perform tasks based on business knowledge and best practices." In turn, the factory operations will be carried out more safely and reliably, drastically reducing potential errors.
Other notable data on the Brazilian scene are:
- Two-thirds (66%) of respondents intend to expand AI into new uses.
- 81% expect to pay more to attract AI engineers.
What's Next for AI
Although enthusiasm for the expansion of AI is palpable, there are still some challenges on the path to full adoption. More than one-third of respondents (37%) feel that senior executives still do not fully understand how the technology works, and nearly half (48%) say they have to continually justify or request the necessary resources to implement it.
“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 the controls that regulate the use of HVAC, lighting and electricity, it helps improve safety, operational and sustainability outcomes,” 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 business performance improvement. As new solutions demonstrate clear benefits for professionals' productivity and creativity, AI adoption will increase job satisfaction and the potential to transform industrial operations, boosting productivity and addressing skills shortages.
To learn more about the research findings and Honeywell’s work in AI and automation, visitwww.honeywell.com/us/en/ai/research.
Methodology
Honeywell hired Wakefield Research to survey AI leaders worldwide. 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, United Kingdom, Saudi Arabia, and United States). United Arab EmiratesEach interviewee works at a company with at least 1,000 employees that currently uses AI to automate processes and tasks. All interviewees are influencers or decision-makers related to the use of AI in their departments or organizations.
