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 17% of AI decision makers around the world have fully implemented their initial AI plans, more than 9 in 10 say they are uncovering unexpected new use cases whether they are in the prototyping, launch, or scaling stages of AI implementation. 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 94% of those surveyed saying they have plans to expand their utilization of AI.
"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 (64%) of AI leaders cited efficiency and productivity gains among the most promising benefits.
Sixty percent say improved cybersecurity and threat detection result from AI and 59%.