Honeywell (NASDAQ: HON) and Qualcomm Technologies, Inc. (NASDAQ:QCOM) today announced an expanded collaboration to develop new artificial intelligence (AI)-enabled solutions for the energy sector. The design and development of these solutions with Qualcomm supports Honeywell's alignment of its portfolio to three compelling megatrends, including automation.
According to this morning’s news release, Honeywell intends, through the collaboration to incorporate Qualcomm’s 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’s 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.
Earlier this year, Honeywell and Qualcomm 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.
HON shares spiked $3.24, or 1.6%, to $210.24 to begin Wednesday trading, while those for QCOM gained $1.96, or 1.2%, to $168.30.
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