Stanley Black & Decker Pursues Artificial Intelligence with Real Sense of Responsibility

C-suite leaders from Stanley Black & Decker – including Chief Executive Officer Jim Loree and Chief AI Officer Dr. Mukesh Dalal – recently participated in a candid discussion with Fortune on what “Responsible Artificial Intelligence” means to us in theory and in practice.

Far beyond improving efficiencies for businesses like ours, artificial intelligence (AI) offers great potential that can improve the quality of life for everyone, including our customers, employees and shareholders.

The possibilities are vast, varied and highly promising. For example…

  • AI can contribute to better, more-informed decision making across many business channels.
  • AI can help us find greater value (e.g., Is it better to rent than purchase equipment?).
  • AI is helping people and machines collaborate in safe, efficient and smart ways.
  • AI is improving quality control to ensure the integrity of the materials we use and products we deliver.
  • AI can even detect and mitigate bias in job postings and interview questions – or assess the impact of COVID on supply chains and workplace safety.

And that’s just the start of what AI can do.

As a highly innovative company committed to staying on the cutting edge, we couldn’t be more enthusiastic about exploring how AI can help propel our company – that’s stood strong since 1843 – well into the future.

And yet we realize that rapidly evolving technological change is not without its share of risks. Staying competitive requires a need for speed – and above all, a sense of responsibility. That’s what the world can expect from us as we evaluate and integrate AI applications into our business.

Interested in learning more? Download our Principles of Responsible Artificial Intelligence (AI)    , a collaborative effort led by Chief Technology Officer Dr. Mark Maybury and Chief Al Officer Dr. Mukesh Dalal.