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Why Honeywell CEO Vimal Kapur doesn't think the AI payoff will come from productivity

As CEO of one of the world's largest industrial conglomerates, Honeywell 's Vimal Kapur doesn't think about AI like most individuals.

It's not about the threatened office worker. "There is always a trend which makes your skills obsolete, every five years," Kapur said at the recent CNBC Evolve: AI Opportunity Summit in New York City. "The churn in white collar is a continuous evolution."

And he said it's not about the cool features that can be offered to the consumer, who "gets excited by the writing of a resume or restaurant recommendation."

The biggest problems AI can solve at Honeywell start with a generational labor shortage that it and client companies are facing. From pilots to technicians, declining birth rates in the industrialized world have led to less people available to do jobs that were popular 25 years ago. "Everyone has that problem in industrials," he said.

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