Honeywell and Google Cloud Partner to Revolutionize Industrial Operations with AI

Honeywell Partners with Google to Integrate Data with Generative AI

The path to autonomy requires assets working harder, Honeywell CEO said Honeywell has signed a deal with Google to connect Artificial Intelligence (AI) technology with its industrial data, both companies said on Monday, with a view to offer streamlined autonomous operations for its customers. The partnership will bring together Alphabet-owned Google's Gemini - its most advanced AI technology - and Honeywell's industrial data collected through its Forge platform to automate tasks and reduce project times, in an industry that continues to grapple with a labor shortage. The AI-powered tools will help automate tasks for engineers, warehouse workers, and technicians, among other uses, with the first AI-enabled solutions reaching Honeywell's customers in 2025. "The path to autonomy requires assets working harder, people working smarter and processes working more efficiently," Vimal Kapur, chairman and CEO of Honeywell, said in a statement. With the new AI-powered agent built on Google's Vertex AI platform, automated tasks will lead to reduced project design cycles, Honeywell said, adding that users will be able to process various data types such as images, videos, text and sensor readings. Honeywell, attempting to leverage the latest boom in AI technology, said it is aiming to reduce maintenance costs, increase operational productivity and "upskill employees" through the partnership for its customers. © Thomson Reuters 2024

Honeywell partners with Google to integrate data with generative AI

(Reuters) - Honeywell has signed a deal with Google to connect artificial intelligence technology with its industrial data, both companies said on Monday, with a view to offer streamlined autonomous operations for its customers. The partnership will bring together Alphabet-owned Google's Gemini - its most advanced AI technology - and Honeywell's industrial data collected through its Forge platform to automate tasks and reduce project times, in an industry that continues to grapple with a labor shortage. The AI-powered tools will help automate tasks for engineers, warehouse workers, and technicians, among other uses, with the first AI-enabled solutions reaching Honeywell's customers in 2025. "The path to autonomy requires assets working harder, people working smarter and processes working more efficiently," Vimal Kapur, chairman and CEO of Honeywell, said in a statement. With the new AI-powered agent built on Google's Vertex AI platform, automated tasks will lead to reduced project design cycles, Honeywell said, adding that users will be able to process various data types such as images, videos, text and sensor readings. Honeywell, attempting to leverage the latest boom in AI technology, said it is aiming to reduce maintenance costs, increase operational productivity and "upskill employees" through the partnership for its customers. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Maju Samuel)

Honeywell and Google Cloud Partner to Bring AI-Driven Automation to Industrial Operations

Solutions targeted for release in 2025 to optimise processes and upskill employees. Honeywell and Google Cloud have announced a collaboration aimed at enhancing industrial automation by combining Artificial Intelligence (AI) with Honeywell's IoT platform. The partnership will integrate Google Cloud's AI capabilities, including the Gemini AI agent on Vertex AI, with the Honeywell Forge IoT platform to deliver real-time insights and automation across various industries. Also Read: Honeywell Unveils AI Solutions to Enhance Efficiency in Energy Sector According to the official release, this partnership aims to improve maintenance, boost productivity, and address labour shortages, particularly as the industrial sector faces challenges due to the mass retirement of baby boomers. Honeywell and Google will develop AI-powered agents to automate tasks, reduce design cycles, and assist engineers with real-time data analysis. "This partnership will bring together the multimodality and natural language capabilities of Gemini on Vertex AI -- Google Cloud's AI platform -- and the massive data set on Honeywell Forge. This will unleash easy-to-understand, enterprise-wide insights across a multitude of use cases. Honeywell's customers across the industrial sector will benefit from opportunities to reduce maintenance costs, increase operational productivity, and upskill employees," the official release said Monday. "The path to autonomy requires assets working harder, people working smarter and processes working more efficiently," said Vimal Kapur, Chairman and CEO of Honeywell. "By combining Google Cloud''s AI technology with our deep domain expertise-including valuable data on our Honeywell Forge platform-customers will receive unparalleled, actionable insights bridging the physical and digital worlds to accelerate autonomous operations, a key driver of Honeywell's growth." "Our partnership with Honeywell represents a significant step forward in bringing the transformative power of AI to industrial operations," said Thomas Kurian, CEO of Google Cloud. "With Gemini on Vertex AI, combined with Honeywell's industrial data and expertise, we're creating new opportunities to optimise processes, empower workforces and drive meaningful business outcomes for industrial organisations worldwide." The first solutions built with Google Cloud AI will be available to Honeywell's customers in 2025. These solutions will optimise processes and upskill workforces, helping companies across the industrial sector advance toward safer, more autonomous operations. Also Read: Honeywell and Qualcomm Expand Partnership to Develop AI Solutions for Energy Sector Announcing the partnership, Honeywell, in a joint statement, said that with the mass retirement of workers from the baby boomer generation, the industrial sector faces both labor and skills shortages, and AI can be part of the solution -- as a revenue generator, not a job eliminator. According to Honeywell's 2024 Industrial AI Insights report, more than two-thirds (82 percent) of Industrial AI leaders believe their companies are early adopters of AI, but only 17 percent have fully launched their initial AI plans. Honeywell and Google Cloud will co-innovate solutions in the following areas: The partnership will leverage Google Cloud's Vertex AI to create purpose-built AI agents designed to automate engineering tasks and reduce project cycles. By incorporating large language models (LLMs) from Google, the AI will assist technicians in resolving issues quickly by processing diverse data, including images, videos, and sensor readings for complex troubleshooting, the companies said. Examples include inquiries such as: How did a unit perform last night? How do I replace the input/output module? or Why is my system making this sound? Honeywell's cybersecurity tools, including GARD Threat Intelligence and Secure Media Exchange (SMX), will be enhanced by Google Cloud's Mandiant threat intelligence to improve threat detection and protect global infrastructure for industrial customers, the official release said. Looking ahead, Honeywell plans to explore using Google's Gemini Nano to enhance intelligence in edge devices, enabling offline operations for tasks such as maintenance and alarms. "This is the beginning of a new wave of more intelligent devices and solutions, which will be the subject of future Honeywell announcements," the company said.

Honeywell, Google Join Forces to Build AI-Driven Industrial Operations | PYMNTS.com

Honeywell and Google Cloud are partnering to transform the industrial sector by integrating advanced artificial intelligence (AI) agents into operations. The two companies announced their collaboration in a press release Monday (Oct. 21). The solutions, which are expected to begin rolling out in 2025, will leverage Honeywell's Internet of Things platform, Honeywell Forge, and Google Cloud's AI capabilities, particularly the Gemini platform on Vertex AI. Besides enhancing efficiency by connecting assets, personnel and processes, the AI-driven solutions are also supposed to address the labor shortages facing many industries by making operations more autonomous. As the baby boom population retires, the industrial sector is more shorthanded. According to Honeywell's 2024 Industrial AI Insights report, while 82% of industrial leaders consider their organizations early adopters of AI, only 17% of them have fully implemented their initial strategies. The Honeywell-Google partnership aims to bridge that gap by deploying AI agents that help upskill the workforce. Or as Honeywell Chairman and CEO Vimal Kapur said in the release, "The path to autonomy requires assets working harder, people working smarter, and processes working more efficiently." In addition, Honeywell and Google Cloud plan to co-develop specialized industrial AI agents designed to automate project design cycles and streamline maintenance tasks. These agents will use Google's large language models to assist technicians in resolving issues more efficiently by processing various data types -- including images, videos, text and sensor readings -- leading to better decision-making on the factory floor. According to the release, the partnership will also integrate Google Threat Intelligence into Honeywell's cybersecurity offerings, enhancing threat detection for industrial customers and the security of critical infrastructure. "Looking ahead, Honeywell will explore using Google's Gemini Nano model to enhance Honeywell edge AI devices' intelligence multiple use cases across verticals, ranging from scanning performance to voice-based guided workflow, maintenance, operational and alarm assist without the need to connect to the internet and cloud. This is the beginning of a new wave of more intelligent devices and solutions, which will be the subject of future Honeywell announcements," the release said. Unless there's an influx of young talent that joins the industrial sector, companies will depend on automation and autonomy for their operations. To adjust, there may be more collaborative harnessing of AI tools.

Honeywell and Google Cloud to Accelerate Autonomous Operations with AI Agents for the Industrial Sector

Google Cloud AI to enhance Honeywell's product offerings and help upskill the industrial workforce New solutions will connect to enterprise-wide industrial data from Honeywell Forge, a leading IoT platform for industrials Honeywell (NASDAQ: HON) and Google Cloud announced a unique collaboration connecting artificial intelligence (AI) agents with assets, people and processes to accelerate safer, autonomous operations for the industrial sector. This partnership will bring together the multimodality and natural language capabilities of Gemini on Vertex AI - Google Cloud's AI platform - and the massive data set on Honeywell Forge, a leading Internet of Things (IoT) platform for industrials. This will unleash easy-to-understand, enterprise-wide insights across a multitude of use cases. Honeywell's customers across the industrial sector will benefit from opportunities to reduce maintenance costs, increase operational productivity and upskill employees. The first solutions built with Google Cloud AI will be available to Honeywell's customers in 2025. "The path to autonomy requires assets working harder, people working smarter and processes working more efficiently," said Vimal Kapur, Chairman and CEO of Honeywell. "By combining Google Cloud's AI technology with our deep domain expertise-including valuable data on our Honeywell Forge platform-customers will receive unparalleled, actionable insights bridging the physical and digital worlds to accelerate autonomous operations, a key driver of Honeywell's growth." "Our partnership with Honeywell represents a significant step forward in bringing the transformative power of AI to industrial operations," said Thomas Kurian, CEO of Google Cloud. "With Gemini on Vertex AI, combined with Honeywell's industrial data and expertise, we're creating new opportunities to optimize processes, empower workforces and drive meaningful business outcomes for industrial organizations worldwide." With the mass retirement of workers from the baby boomer generation, the industrial sector faces both labor and skills shortages, and AI can be part of the solution - as a revenue generator, not job eliminator. More than two-thirds (82%) of Industrial AI leaders believe their companies are early adopters of AI, but only 17% have fully launched their initial AI plans, according to Honeywell's 2024 Industrial AI Insights report. This partnership will provide AI agents that augment the existing operations and workforce to help drive AI adoption and enable companies across the sector to benefit from expanding automation. Honeywell and Google Cloud will co-innovate solutions around: Purpose-Built, Industrial AI Agents Built on Google Cloud's Vertex AI Search and tailored to engineers' specific needs, a new AI-powered agent will help automate tasks and reduce project design cycles, enabling users to focus on driving innovation and delivering exceptional customer experiences. Additional agents will utilize Google's large language models (LLMs) to help technicians to more quickly resolve maintenance issues (e.g., "How did a unit perform last night?" "How do I replace the input/output module?" or "Why is my system making this sound?"). By leveraging Gemini's multimodality capabilities, users will be able to process various data types such as images, videos, text and sensor readings, which will help its engineers get the answers they need quickly - going beyond simple chat and predictions. Enhanced Cybersecurity Google Threat Intelligence - featuring frontline insight from Mandiant - will be integrated into current Honeywell cybersecurity products, including Global Analysis, Research and Defense (GARD) Threat Intelligence and Secure Media Exchange (SMX), to help enhance threat detection and protect global infrastructure for industrial customers. On-the-Edge Device Advances Looking ahead, Honeywell will explore using Google's Gemini Nano model to enhance Honeywell edge AI devices' intelligence multiple use cases across verticals, ranging from scanning performance to voice-based guided workflow, maintenance, operational and alarm assist without the need to connect to the internet and cloud. This is the beginning of a new wave of more intelligent devices and solutions, which will be the subject of future Honeywell announcements. By leveraging AI to enable growth and productivity, the integration of Google Cloud technology also further supports Honeywell's alignment of its portfolio to three compelling megatrends, including automation. About Honeywell Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends - automation, the future of aviation and energy transition - underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom. About Google Cloud Google Cloud is the new way to the cloud, providing AI, infrastructure, developer, data, security, and collaboration tools built for today and tomorrow. Google Cloud offers a powerful, fully integrated, and optimized AI stack with its own planet-scale infrastructure, custom-built chips, generative AI models, and development platform, as well as AI-powered applications, to help organizations transform. Customers in more than 200 countries and territories turn to Google Cloud as their trusted technology partner

Honeywell signs deal with Google to bring Gemini generative AI to industrial sector

Rick Osterloh, Senior Vice President of Devices and Services at Google, speaks during the Made By Google event at Google's Bay View campus in Mountain View, California, on August 13, 2024. Google announced new Pixel phones, watches and AI technology. Google Gemini, the flagship generative AI from Alphabet, is is being tapped by Honeywell to search for insights across the industrial giant's massive data set that can lead to reduced maintenance costs, increased productivity and opportunities to upskill employees. "The path to autonomy requires assets working harder, people working smarter and processes working more efficiently," said Vimal Kapur, Honeywell CEO, in a statement announcing the deal, which will begin offering gen AI insights to industrial clients in 2025. Kapur recently told CNBC that the biggest problems AI can solve at Honeywell start with a generational labor shortage that it and client companies within the industrials sector are facing, with declining birth rates in the industrialized world resulting in less available workers to do jobs that were popular 25 years ago. "Everyone has that problem in industrials," he said at the recent CNBC Evolve AI Opportunity event. Kapur told CNBC that AI will allow an employee with five years of experience to operate at the same level as an employee with 15 years of experience through the help of AI co-pilots. AI-powered agents offered through Google will help automate tasks for engineers and help technicians resolve maintenance issues. Kapur told CNBC that Honeywell will soon be embedding connectivity with jet engines to enable predictive maintenance. "We're moving from automation to autonomy," said Suresh Venkatarayalu, Honeywell's CTO and president of Honeywell Connected Enterprise, in a Google blog post about the deal. "Our goal is to equip companies with AI agents that assist workers in real time -- on factory floors and in the field." The announcement states the deal will go "beyond simple chat and predictions" with the Google AI offering images, videos, text and sensor readings to engineers. Honeywell Forge, a digital platform that includes information from industrial designs, manuals, and real-world performance Honeywell products, will leverage Google Cloud's Vertex AI and Google's large language models to build AI agents trained on this data. Workers will be able to ask the AI questions like, "How did this unit perform last night?" or "Why is my system making this sound?" according to the companies. "Industrial companies play a crucial role in our daily lives, whether it's the airplanes we fly, the medical devices we use or the sensors that manage the air conditioning in our offices," said Carrie Tharp, VP Strategic Industries at Google Cloud, in the blog post. "With an entire generation of workers retiring and -- in many cases -- no one coming behind them, industrial companies are under tremendous pressure." For the AI giants like Google, getting industries across the economy to adopt gen AI is crucial to turning a capital-intensive technology into a profitable opportunity. According to Honeywell data, 82% of companies in the industrial sector that consider themselves AI leaders are behind on adoption, with only 17% having fully launched initial AI plans. Kapur is bullish on the adoption curve steepening quickly. "Awareness is high, adoption is low, but there will be an inflection point," he said at the recent CNBC AI event. "I do believe 2025-2026 will be a big year for adoption of AI in the context of industrials."

How Honeywell is using Google AI to prepare for the industrial future

Industrial companies play a crucial role in our daily lives, whether it's the airplanes we fly, the medical devices we use or the sensors that manage the air conditioning in our offices. But there's a looming talent shortage and skills gap in the industrial sector, which could soon create massive challenges for businesses and economies worldwide. With an entire generation of workers retiring and -- in many cases -- no one coming behind them, industrial companies are under tremendous pressure. They are asking how they can maintain the same level of expertise with their current talent, and searching for the best tools to do the work and transition the knowledge between generations. This is essential to keep industrial systems (and the world at large) running every day. Enter Honeywell. The longtime industrial partner and technology leader for the industrial sector is collaborating with Google Cloud to further help solve the skills and labor shortages. With Vertex AI, Honeywell is helping industrial assets work harder, people work smarter and processes run more efficiently. As Suresh Venkatarayalu, Honeywell's CTO and President of Honeywell Connected Enterprise, puts it, "We're moving from automation to autonomy. Our goal is to equip companies with AI agents that assist workers in real time -- on factory floors and in the field. With AI running both in the cloud and at the edge, we're making sure that systems work smarter and more efficiently." For years, Honeywell has been collecting industrial data through Honeywell Forge, a digital platform that draws on designs, manuals, and real-world performance of Honeywell's global install base (such as how products have behaved in different environments, where issues have occurred, and how to resolve them). Now, Honeywell is using Vertex AI and Google's large language models (LLMs) to build AI agents, like workplace "coaches," that make this trove of data more accessible and easier to understand. These AI-powered tools will also help automate tasks for engineers, warehouse workers, and technicians for Honeywell and its customers. For example, AI agents can troubleshoot equipment, suggest design improvements, and offer preventative maintenance insights, such as, "How did this unit perform last night?" or "Why is my system making this sound?" Honeywell's devices are used worldwide in a range of settings -- from data centers to hospitals to refineries to warehouses. Internet access can often be challenging, especially in remote locations. To solve this, Honeywell is exploring how to use Gemini Nano to provide AI services at the edge of the network -- right on devices like scanners, sensors and controllers -- so they can operate autonomously, even when they aren't connected to the internet. Gemini's multimodal capabilities enable understanding of text, code, images, videos and audio, allowing Honeywell devices to process various data types, from scanning to voice-based guided workflow. With Google AI-powered agents, Honeywell is helping bridge the skills gap and ensure the future of the industrial sector. The first solutions built with Google Cloud AI will be available to Honeywell's customers in 2025. You can find out more information and see future updates on our website.

Honeywell partners with Google Cloud for AI-driven industrial solutions By Investing.com

CHARLOTTE, N.C. - Honeywell International Inc. (NASDAQ: NASDAQ:HON) has entered into a collaboration with Google (NASDAQ:GOOGL) Cloud to develop artificial intelligence (AI) solutions aimed at enhancing autonomous operations within the industrial sector. This partnership intends to integrate Google's AI technology with Honeywell's industrial data and expertise, particularly from the Honeywell Forge IoT platform. The initiative will leverage Google Cloud's AI platform, Vertex (NASDAQ:VRTX) AI, and its Gemini AI technology to provide Honeywell's customers with enterprise-wide insights, potentially reducing maintenance costs and increasing operational productivity. The solutions, expected to be available in 2025, also aim to assist in upskilling employees within the industrial sector. Vimal Kapur, Chairman and CEO of Honeywell, highlighted the combination of Google's AI with Honeywell's domain expertise as a means to offer actionable insights and accelerate autonomous operations. Thomas Kurian, CEO of Google Cloud, emphasized the transformative power of AI in optimizing industrial processes and empowering workforces. The collaboration will focus on creating purpose-built AI agents tailored to engineers' needs, which can automate tasks, shorten project design cycles, and provide quick resolutions to maintenance issues. These AI agents will utilize large language models to understand and respond to complex queries, enhancing the efficiency of technicians' work. Furthermore, the partnership will integrate Google Threat Intelligence into Honeywell's cybersecurity products to bolster threat detection and protect global infrastructure. Honeywell is also exploring the use of Google's Gemini Nano model to advance the intelligence of edge AI devices, enabling them to perform various functions without the need for internet connectivity. The alliance between Honeywell and Google Cloud reflects Honeywell's commitment to aligning its portfolio with megatrends such as automation. This move is expected to help Honeywell address labor and skills shortages in the industrial sector by providing AI solutions that support and augment the existing workforce. This news is based on a press release statement issued on October 21, 2024, announcing the partnership between Honeywell and Google Cloud. In other recent news, Honeywell has secured a $103 million contract with the U.S. Army to supply its Next-Generation APN-209 Radar Altimeter system. The company is also reportedly nearing a deal to sell its personal protective equipment division, including its face mask business, to private equity firm Odyssey for approximately $1.5 billion. These developments align with Honeywell's business strategy, focusing on automation, the future of aviation, and energy transition. On the analyst front, JPMorgan (NYSE:JPM) downgraded Honeywell's stock from Overweight to Neutral due to concerns about the company's organic growth and its impact on profits. Meanwhile, Oppenheimer maintained a Perform rating, focusing on Honeywell's decision to spin off its Advanced Materials division. TD Cowen maintains a Buy rating for Honeywell, highlighting this strategic move. Honeywell also announced a tax-free spin-off of its Advanced Materials subsegment, which generates approximately $3.8 billion in sales and has an EBITDA margin of over 25%. This decision aligns with Honeywell's strategic focus on automation, aviation, and energy transition. Finally, Honeywell has increased its annual cash dividend from $4.32 to $4.52 per share, marking its 15th consecutive dividend increase. These are among the recent developments that have been shaping Honeywell's ongoing business operations and strategies. Honeywell's strategic partnership with Google Cloud aligns well with its market position and financial performance. As of the latest data from InvestingPro, Honeywell boasts a substantial market capitalization of $144.24 billion, underscoring its significant presence in the industrial conglomerates sector. This collaboration could further solidify Honeywell's market standing and potentially drive future growth. The company's focus on AI and automation solutions is timely, given its strong financial foundation. Honeywell's revenue for the last twelve months as of Q2 2024 stood at $37.33 billion, with a healthy gross profit margin of 37.56%. This financial stability provides a solid base for investing in cutting-edge technologies like AI. InvestingPro Tips highlight Honeywell's consistent performance and shareholder value. The company has raised its dividend for 14 consecutive years and maintained dividend payments for 40 years, demonstrating a commitment to returning value to shareholders. This track record of dividend growth, coupled with the recent strategic move into AI, could make Honeywell an attractive option for investors looking for both growth and income. It's worth noting that Honeywell is trading near its 52-week high, with a P/E ratio of 25.08. While this might suggest the stock is priced at a premium, the company's venture into AI solutions with Google Cloud could justify this valuation by potentially opening new revenue streams and enhancing operational efficiencies across its customer base. For investors interested in a deeper analysis, InvestingPro offers additional tips and insights, with 12 more tips available for Honeywell. These could provide valuable context for understanding the company's position in light of this new partnership and its potential impact on Honeywell's future performance.