HONEYWELL AND QUALCOMM WORK TO REVOLUTIONIZE ENERGY SECTOR WITH 5G, LOW POWER WIRELESS AND AI-ENABLED SOLUTIONS
Rhea-AI Summary
Honeywell (Nasdaq: HON) and Qualcomm Technologies, Inc. have expanded their collaboration to develop new AI-enabled solutions for the energy sector. This initiative aligns with Honeywell's focus on automation megatrends. The collaboration aims to integrate Qualcomm's connectivity and AI capabilities into Honeywell's existing AI-powered applications, such as the Field Process Knowledge System (PKS).
The partnership will combine Qualcomm's low power AI-enabled processors with Honeywell's sensing technologies to create a family of industrial sensors for monitoring various parameters. These advancements are expected to provide faster and more accurate information to field and service technicians.
The collaboration also includes the development of an AI-enabled Multi-Modal Intelligent Agent for distribution centers and retail industries, with plans to integrate computer vision capabilities into Honeywell's Field PKS by 2025.
Positive
- Expansion of AI-enabled solutions for the energy sector
- Integration of Qualcomm's connectivity and AI capabilities into Honeywell's Field PKS
- Development of new industrial sensors for improved monitoring
- Potential for faster and more accurate information delivery to technicians
- Creation of AI-enabled Multi-Modal Intelligent Agent for distribution and retail industries
Negative
- None.
News Market Reaction
On the day this news was published, HON gained 3.24%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Through the collaboration, Honeywell intends to incorporate Qualcomm Technologies' connectivity and AI capabilities into Its existing AI-powered applications, such as the Honeywell Field Process Knowledge System (PKS). By integrating these capabilities, Honeywell's Field PKS will better be able to help provide connectivity to remote corners of plant and manufacturing facilities and enable greater data capture and analytics at the edge.
Qualcomm Technologies' portfolio of low power AI-enabled processors with native wireless connectivity, software, and computer vision combined with Honeywell's extensive portfolio of sensing technologies will enable the development of a family of industrial sensors used for monitoring process parameters, asset parameters or environmental conditions. These new capabilities will help deliver more information to field and service technicians, enabling faster delivery of answers that can result in time savings, greater accuracy, and interactive results.
"We are committed to developing on-device generative AI solutions that will propel the expansion of the connected intelligent edge to help drive digital transformation," said Nakul Duggal, group general manager, automotive, industrial and embedded IoT, and cloud computing, Qualcomm Technologies, Inc. "This collaboration with Honeywell enhances how industries and businesses interact with their environments through intelligent and responsive technology. Our recent acquisition of Sequans' 4G IoT technology adds to Qualcomm Technologies' broad portfolio, further strengthening our technology offerings for Industrial IoT applications."
"The combination of Qualcomm Technologies' industry-leading on-device AI processors with Honeywell's AI- enabled technology will enable field workers to work smarter, help make assets more efficient and improve the overall performance of the process industry," said Pramesh Maheshwari, President of Honeywell Process Solutions. "With the introduction of AI-enabled solutions such as Honeywell's Field PKS, Multi-Modal Intelligent Agent and sensor technologies, we are advancing what's possible for the process industry with mobile field technicians and autonomous operations."
Earlier this year, Honeywell and Qualcomm Technologies began developing an AI-enabled Multi-Modal Intelligent Agent designed to allow workers in distribution centers and retail industries to interact naturally with handheld devices through voice, pictures, and video. In 2025, Honeywell intends to add the computer vision capabilities in the Multi-Modal Intelligent Agent to Honeywell's Field PKS. To learn more about how Honeywell is leveraging AI across process industries, visit: https://process.honeywell.com/us/en/solutions/industrial-autonomous-solutions
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, safer, more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
About Qualcomm:
Qualcomm is enabling a world where everyone and everything can be intelligently connected. Our one technology roadmap allows us to efficiently scale the technologies that launched the mobile revolution – including advanced connectivity, high-performance, low-power compute, on-device intelligence and more – to the next generation of connected smart devices across industries. Innovations from Qualcomm and our family of Snapdragon platforms will help enable cloud-edge convergence, transform industries, accelerate the digital economy, and revolutionize how we experience the world, for the greater good.
Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering, research and development functions, and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated.
Media Contact:
Tyler Sumrall
+1 (713) 203-0992
Tyler.Sumrall@honeywell.com
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SOURCE Honeywell
FAQ
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