Honeywell CEO Vimal Kapur recently shared a compelling message for businesses still hesitant about embracing artificial intelligence (AI).
“In the modern era, refusing to adapt is akin to living in antiquity,” he remarked during his speech at the Fortune Global Forum in New York. “Avoiding change is not feasible; it will inevitably catch up with you.”
Kapur, an advocate for AI, referenced the emergence of transformative technologies like 5G and cloud computing, which he believes, together with AI, will forge a powerful trio that will spearhead autonomy in the industrial realm.
“Fear of change spells disaster for everyone,” Kapur added, representing a company that leads globally in sectors like automation, aviation, and energy transition.
Echoing Kapur’s sentiments, Kate Johnson, CEO of Lumen Technologies, a major player in global telecommunications and networking, also stressed the importance of AI in reshaping workplace cultures to be more flexible. She acknowledged the widespread apprehension and uncertainty that AI brings, from the leadership level downward.
“AI introduces a level of unpredictability into our workplaces and the global scene that is unprecedented,” she observed. “Being prepared for anything is crucial, and admittedly, it’s quite daunting.”
Despite the challenges, Johnson emphasized that human adaptability will be crucial for overcoming future uncertainties.
“Now more than ever, it’s essential to foster a culture that not only accepts change but is also vulnerable and nimble,” she advised. “True benefits are realized when large organizations figure out how to modify their processes and outcomes effectively.”
Johnson also highlighted the need for a fresh approach to integrating AI into business practices.
“Many are fixated on AI providing all the answers, instead of thinking, ‘How can AI assist and collaborate with me?'” Johnson pointed out. “Adopting a proactive attitude—thinking, ‘I am here to create and refine systems to succeed’—is vital.”
Both Kapur and Johnson acknowledged that while adopting AI involves risks, the rewards justify the efforts if appropriate safeguards, such as comprehensive data protection measures and cross-functional teamwork, are established.
“For substantial returns, risks need to be communal,” Kapur explained. “This involves co-creating, which means we must embrace the risk of pooling our resources with others.”
In summary, both leaders advocate for a strategic embrace of AI, underlined by a culture of adaptability and co-creation, to navigate the complexities and capitalize on the opportunities it presents.
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Jamie Prescott specialises in economic journalism, breaking down complex topics like global trade and finance into digestible stories. Jamie helps readers stay informed about the economy and its impact on local communities.
