Report: Industrial AI Adoption Rises Steadily as Executives Explore Emerging Use Cases

Recent research conducted by Honeywell indicates a growing enthusiasm among industrial decision-makers regarding the integration of new artificial intelligence (AI) use cases to enhance operational efficiency. The survey involved 1,600 executives from 12 global markets, including the U.S., China, and India, representing organizations with 1,000+ employees. All participants are engaged in utilizing AI to automate business processes and play significant roles in decision-making within their departments or companies.

The study revealed that 94% of decision-makers have intentions to expand their adoption of AI technologies, with over 90% discovering unforeseen use cases for AI that were not initially planned. A quarter of respondents have already finalized plans for future AI deployments following initial implementations.

The primary benefit reported by respondents from AI implementations was increased efficiency through automation, recognized by 64% of participants. Other notable benefits include enhanced cybersecurity (60%), improved decision-making based on real-time data (59%), increased work flexibility (49%), heightened job satisfaction (45%), and more time for skills development and creative thinking among staff (44%).

Kevin Dehoff, Honeywell’s chief strategy officer, emphasized the transformational potential of AI in the industrial landscape, citing the exponential growth possibilities for revenue enhancement and workforce satisfaction. Despite the positive outlook on AI expressed by respondents, challenges remain in implementation.

Honeywell's report highlighted that a significant portion (37%) of C-Suite executives lack a full understanding of AI, resulting in 48% of decision-makers constantly justifying or requesting adequate resources for AI initiatives. Moreover, skill shortages hinder implementation, with 63% of respondents stating that a quarter or more of their equipment is not AI-compatible.

Key obstacles identified in respondent implementations include deficient verification of AI outputs (31%), in-house overload (30%), and rushed development (30%). Skill shortages in the industrial sector pose a significant challenge for companies seeking to leverage AI technologies to bridge the growing skills gap caused by the retirement wave of the baby boomer generation.

Honeywell's research underscores the importance of proper training and resource allocation for the successful integration of AI technologies in industrial settings. By investing in AI training and utilizing AI as a collaborative tool, organizations can elevate the expertise of their workforce and enhance operational safety and reliability.

In summary, the findings from Honeywell's research shed light on the promising future of industrial AI applications, the challenges faced in implementation, and the critical role of training and skills development in maximizing the benefits of AI technologies within organizations.