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Today: June 21, 2024
January 30, 2024
1 min read

Honeywell CEO says skill shortages are solved with AI solution

TLDR: Artificial intelligence (AI) has the potential to solve industry’s skill-shortage problem, according to Vimal Kapur, CEO of Honeywell. While full autonomy is not yet possible in mission-critical tasks, such as flying planes or running a mining operation, AI can address the declining availability of skilled labor, the loss of institutional knowledge due to an aging workforce, and the need for organizations to speed up decision-making processes while ensuring accuracy and quality. For example, AI can help address the global pilot shortage by making it possible for one pilot to do the job while a co-pilot works on the ground. AI can also enhance safety in industries such as mining. Honeywell and Chilean copper mining giant Codelco have partnered to create a remote operations center that uses data, analytics, and predictive maintenance to improve mining capabilities. AI is also being used in other sectors, such as commercial real estate, to make operations more sustainable and energy efficient. However, organizations looking to harness the power of AI need to assess and prioritize data, design, and people. By strategically navigating the path from the current state to the desired state, organizations can take advantage of the innovation that AI brings.

Artificial intelligence (AI) has the potential to solve industry’s skill-shortage problem, according to Vimal Kapur, CEO of Honeywell. While full autonomy is not yet possible in mission-critical tasks, such as flying planes or running a mining operation, AI can address the declining availability of skilled labor, the loss of institutional knowledge due to an aging workforce, and the need for organizations to speed up decision-making processes while ensuring accuracy and quality. For example, AI can help address the global pilot shortage by making it possible for one pilot to do the job while a co-pilot works on the ground. AI can also enhance safety in industries such as mining. Honeywell and Chilean copper mining giant Codelco have partnered to create a remote operations center that uses data, analytics, and predictive maintenance to improve mining capabilities. AI is also being used in other sectors, such as commercial real estate, to make operations more sustainable and energy efficient. However, organizations looking to harness the power of AI need to assess and prioritize data, design, and people. By strategically navigating the path from the current state to the desired state, organizations can take advantage of the innovation that AI brings.

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