Honeywell Expands Qualcomm Partnership: AI And Connectivity To Supercharge Energy Industry Operations

Honeywell International Inc. HON shares are trading higher on Wednesday. The company expanded its collaboration with QUALCOMM Incorporated QCOM to create new AI-enabled solutions for the energy sector.

This partnership aligns with Honeywell’s focus on three key megatrends, including automation, as it enhances its portfolio to meet evolving industry demands.

Through this partnership, Honeywell plans to integrate Qualcomm’s connectivity and AI capabilities into its applications, including the Honeywell Field Process Knowledge System (PKS).

Also Read: Honeywell Seeks To Simplify Structure, Boost Flexibility With $10B Spin-Off Of Advanced Materials Unit

This will enhance connectivity in remote areas of manufacturing facilities, allowing for improved data capture and analytics.

By combining Qualcomm's low-power AI processors with Honeywell’s advanced sensing technologies, the companies will develop industrial sensors to monitor process, asset, and environmental parameters.

Pramesh Maheshwari, President of Honeywell Process Solutions, said, “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.”

“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.”

Investors can gain exposure to HON via Gabelli Commercial Aerospace and Defense ETF GCAD and Invesco Aerospace & Defense ETF PPA.

Price Action: HON shares are up 1.99% at $211.11 at the last check Wednesday.

Photo via Shutterstock

Read Next:

• Chevron, Honeywell Join Forces For AI Breakthrough: Details