New research from Honeywell indicates a significant uptick in enthusiasm for industrial AI among decision-makers, with plans to expand AI use cases and improve operational workloads. The survey, which included 1,600 executives from 12 global markets such as the U.S., China, and India, highlights both the benefits and hurdles of AI adoption in large firms.
According to the survey, an impressive 94% of executives plan to enhance their use of AI technologies. More than 90% of respondents have discovered new AI applications beyond their initial expectations. Approximately 26% of those surveyed have already made decisions on future AI deployments following early implementations.
The primary benefit of AI, as identified by 64% of respondents, is increased efficiency through automation. Improved cybersecurity was recognized by 60% of participants, while 59% highlighted enhanced decision-making from real-time data. Other advantages reported include increased work flexibility (49%), greater job satisfaction (45%), and more opportunities for staff to engage in skills development and creative tasks (44%).
Kevin Dehoff, Honeywell’s chief strategy officer, commented on the report’s findings: “AI is at a pivotal moment. With advancements in generative AI and data analytics, industrial AI is set to expand rapidly, offering vast potential for revenue growth and enhanced employee satisfaction.”
Despite the positive outlook, the survey revealed significant challenges in AI implementation. Over a third of respondents (37%) reported that their C-suite executives do not fully grasp AI concepts. Nearly half (48%) face difficulties securing adequate resources for AI initiatives. Additionally, 63% of respondents noted that a quarter or more of their equipment is not AI-compatible, with 33% opting to wait until legacy equipment reaches the end of its lifespan before upgrading.
Common challenges include issues with verifying AI outputs (31%), attempting excessive in-house development (30%), and rushing AI deployment (30%). Budget overruns and insufficient training also emerged as obstacles to successful AI integration.
Honeywell’s report points to a significant skills gap as a major factor impacting AI implementations. The growing demand for technical skills, compounded by the retirement of experienced workers, is pushing companies to rely on AI to fill the void. Although 15% of respondents are currently using AI to address labor shortages, others are focusing on enhancing worker flexibility (49%) and job satisfaction (45%).
Lucian Boldea, President and CEO of Honeywell Industrial Automation, emphasized the role of AI in bridging skill gaps: “AI training and AI as a ‘copilot’ can rapidly elevate less experienced technicians, transforming them into experts who perform tasks based on enterprise knowledge and best practices. This advancement will lead to safer, more reliable plant operations by significantly reducing human error.”
The survey underscores a strong commitment to leveraging AI in industrial settings, while also highlighting the need for continued investment in training and infrastructure to overcome existing challenges.
