INDUSTRIAL AI UPTAKE IS JUST GETTING STARTED BUT MAJORITY OF SECTOR IS UNCOVERING NEW USE CASES, FINDS HONEYWELL RESEARCH

Core Insights - Honeywell's Industrial AI Insights global research study reveals that only 17% of AI decision makers have fully implemented their initial AI plans, yet over 90% are discovering new use cases during various stages of AI implementation [1][5] AI Implementation and Benefits - AI is at a pivotal moment with the rise of Generative AI and advanced analytics, leading to exponential growth potential in industrial applications [2] - Key benefits of AI for workers include increased productivity, flexibility, and safety, as well as addressing the industrial skills shortage [5][7] - Nearly two-thirds (64%) of AI leaders see efficiency and productivity gains as the most promising benefits, with 60% noting improved cybersecurity and 59% reporting better decision-making from real-time data [6] Workforce Development - AI enables quicker upskilling and reskilling of workers, crucial in an economy facing a skills shortage due to retiring baby boomers [7] - The application of AI can enhance job satisfaction and productivity by allowing workers to perform at higher levels [7] Challenges to Adoption - Despite enthusiasm for AI, challenges remain, with 37% of respondents indicating that their C-Suite does not fully understand AI, and 48% needing to justify resources for AI implementation [8] Future Outlook - The pace of AI adoption will be driven by measurable improvements in business performance, with compelling use cases expected to significantly increase AI integration in industrial operations [13]