The Honeywell (Nasdaq: HON) has just released the findings of its global research study Industrial AI Insights, with a thermometer of Artificial Intelligence (AI) adoption in the industry across 12 markets, including Brazil. While only 17% of decision-makers worldwide have fully implemented their initial AI plans, 9 out of 10 state that they are discovering new unexpected use cases during the technology implementation phases of prototyping, launch, or scaling. The study also revealed that leaders are very excited about industrial applications, with 94% of them planning to expand their utilization.
“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 sources of advanced analytics data, Industrial AI is poised for exponential growth, 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 interviewed companies, 7 percentage points above the global average. According to 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 focus megatrends this year.
“Automation, one of our megatrends for this year, combined with artificial intelligence, can enable companies to enhance their entire operation with tools that can prevent problems, resulting in resource savings and, obviously, productivity growth,” he states.
AI unlocks benefits in the workplace
When asked about their thoughts on the impact of AI in the workplace, almost two-thirds (64%) of respondents cited gains in efficiency and productivity among the main benefits. In Brazil, this number reaches 67%.
Sixty percent say that improved cybersecurity and threat detection result from AI and 59% report better decision-making due to real-time data generation.
Below are other highlights of perceived benefits in the workplace with the use of AI:
- Greater work flexibility (49%, global average, compared to 54% in Brazil)
- Higher job satisfaction (45%, global average, compared to 46% in Brazil)
- More time for skill development and creative thinking (44%, global average, compared to 53% in Brazil)
- Increased workplace safety (39%, global average)
The development of skills is crucial in today’s economy and AI can help empower 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 may be tens of thousands of instruments, equipment, and valves needed to process and manufacture a product. Many technologies supplied by large companies like Honeywell require highly experienced technicians for operation and maintenance – and there are increasingly fewer professionals at this level. With AI training, where it acts as a ‘copilot,’ we can quickly upgrade the skills of less experienced individuals, turning them into experts who perform tasks based on business knowledge and best practices. In turn, factory operations will be carried out more safely and reliably, drastically reducing any errors.”
Other notable data in the Brazilian scenario includes:
- Two-thirds (66%) of respondents plan to expand AI to new uses.
- 81% expect to pay more to attract AI engineers.
What’s next for AI
Although the enthusiasm for expanding AI is palpable, there are still some challenges on the path to full adoption. Over a third of respondents (37%) feel that senior executives still do not fully understand how the technology works, and almost half (48%) say they have to continually justify or request the necessary resources 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 govern the use of HVAC [abbreviation referring to Heating, Ventilation, and Air Conditioning] systems, lighting, and electricity, it helps improve safety, operational, and sustainability outcomes,” said Billal Hammoud, President and CEO of Honeywell Building Automation.
All of these suggest that 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 for productivity and creativity of professionals, the adoption of AI will increase job satisfaction and the potential to transform industrial operations, increasing productivity, and addressing skills shortage.
To learn more about research findings and Honeywell’s work on AI and automation, visit www.honeywell.com/us/en/ai/research.
Methodology
Honeywell commissioned Wakefield Research to survey AI leaders worldwide. The online survey, conducted from April 22 to May 2, 2024, involved 1,600 executives across 12 global markets (USA, Brazil, Canada, China, France, Germany, India, Japan, Mexico, UK, Kingdom of Saudi Arabia, and UAE.) Each respondent works in a company with at least 1,000 employees currently using AI to automate processes and tasks. All respondents are influencers or decision-makers related to the use of AI in their departments or organizations.
