Vimal Kapur, the CEO of Honeywell, believes that the true value of AI doesn’t come from increasing productivity, but rather in terms of making processes more reliable and consistent. He suggests that while AI can certainly boost efficiency and productivity, its real benefit lies in its ability to improve the quality of outcomes and reduce variability. Furthermore, Kapur emphasizes the use of AI in preserving and capturing the knowledge and expertise of senior employees who may soon retire. This way, companies can ensure continuity and consistency even after losing the accumulated experience of long-serving experts. Additionally, Kapur mentions the role of AI in risk reduction. AI can be used to predict possible malfunctions or issues in the operations before they even occur. By preventing these unwanted scenarios, companies can save a lot of resources and maintain operational efficiency. In summary, while AI indeed helps in augmenting productivity, Kapur stresses the impact of AI in improving the consistency and contingency of operations, and in mitigating risks, is where its true value lies. This more holistic view on the role of AI in organizations goes beyond mere productivity gains.

Vimal Kapur, the CEO of Honeywell, has a unique perspective on the role of AI in business today. Rather than focusing on productivity, he believes that the real benefit of AI lies in its potential as a tool for exploration and innovation.

Kapur opined that too many companies see AI as just another utility to boost profits and productivity. Although AI can be applied this way, he considered such usage a mere scratching of AI’s potential surface.

For Kapur, while AI can certainly help streamline operations and make businesses more efficient, an exclusive focus on these aspects can limit the technology’s potential. True AI value, in his opinion, would be unlocked only when it is used as a tool for profound change and revolution. He believes the real promise of AI is in its capability to drive new business models and open avenues for growth that were unthinkable before.

He also stressed that AI can help humans make better decisions — a crucial factor considering the current era of data deluge. By parsing through enormous amounts of information using AI, companies can uncover insights about their business and customers that can significantly enhance their decision-making ability.

Overall, Vimal Kapur appreciates AI as a tool for productivity but believes that the real gains from this technology will be realized when its full potential for innovation and change-making is utilized.