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HONEYWELL STUDY REVEALS MORE THAN 80% OF COMMERCIAL BUILDING MANAGERS PLAN TO INCREASE THE USE OF AI TO OPTIMIZE OPERATIONS

1. 84% of building decision makers plan to increase AI use next year. 2. 60% already use AI for maintenance and repair efficiency. 3. 49% employ AI for predictive maintenance to prevent larger issues. 4. Security is a priority, with 63% monitoring unusual behavior. 5. 55% utilize AI for energy management across buildings.

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FAQ

Why Bullish?

Increased adoption of AI in buildings shows growth potential for HON, historically driving shares up.

How important is it?

As a leader in building automation, HON stands to benefit significantly from AI adoption trends.

Why Long Term?

Sustained interest in AI and efficiency improvements can lead to lasting revenue gains for Honeywell.

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Building managers are reporting the use of AI to help them enhance operational efficiencies with streamlined maintenance, upgraded security and optimized energy usage , /PRNewswire/ -- Honeywell (Nasdaq: HON) today released the findings of its AI in Buildings study, which revealed that 84% of commercial building decision makers plan to increase their use of AI in the next year to help them improve security, streamline energy management and integrate predictive maintenance. In this study of U.S. building managers and decision makers with more than 250 building occupants, Honeywell found that across property types, respondents are increasingly using AI to help improve process efficiency, productivity and operations. However, since most respondents (92%) reported challenges in hiring skilled, tech-savvy individuals, a greater opportunity remains ahead for building operations to tap into AI's capabilities to enhance employee training, augment their current workforce and ultimately help upskill labor to support the sector's rapidly changing needs. "AI in buildings is a game-changer that not only helps decision makers potentially maximize operations and efficiencies, but it can also help improve security for guests, minimize energy usage for tenants and reduce costly downtime by flagging issues before they happen," said Billal Hammoud, president and CEO of Honeywell's building automation segment. "With basic AI functions already integrated into many commercial buildings, leaders should pivot their focus to the upskilling opportunities it presents for employees who can tap into AI to help buildings reduce carbon emissions while being more secure and operationally efficient." For commercial buildings, Honeywell's research found that AI has moved beyond experimental and is now becoming mainstream, as evidenced by its increased usage for day-to-day building management. Key findings include: Nearly 60% of respondents have already adopted AI to streamline maintenance and repair processes. One of the most common use cases is predictive maintenance, which helps identify issues before they become larger concerns and is currently used by 49% of respondents. Security and safety are also top-of-mind for more than half of all respondents. Frequent use cases cited by respondents were monitoring for unusual behavior (63%), location tracking systems for occupant safety (52%) and biometrics-based access control systems (45%). Decision makers are turning to AI for everything from temperature control to water usage. More than half (55%) of respondents currently use AI for overall building energy management, 41% use it for water usage monitoring, and 40% implement it for temperature comfort. To learn more about the research results and how Honeywell's solutions are helping buildings deliver stronger operational efficiency and fire and life safety, visit buildings.honeywell.com. MethodologyHoneywell commissioned Wakefield Research to conduct the Honeywell Building Managers Research Survey, which polled 250 U.S. building managers and senior decision makers across building types including offices, hospitals, airports, schools, universities, hotels and data centers. To participate in the research, respondents had to use AI-enabled property management systems in buildings with 250+ occupants. About HoneywellHoneywell 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. Contact: HoneywellDawn Wotapka(631) 943-3782[email protected] SOURCE Honeywell WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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