International IoT Discussion Comes to MENA Region
The Internet of Things (IoT) market is a $2 billion business in the Middle East region, with an installed base of 70 million IoT devices forecast to be in use by the end of the year.
What’s more, GCC countries are expected to be hotbeds of Smart City development over the next several years, and during that time are likely to break into the top half of countries ranked “most open” when it comes to open data.
So it’s no surprise that Dubai, and thus the whole Middle East, is the location for the third edition of the Internet of Things World Forum (IoTWF), previously held in Barcelona and Chicago. Both former host cities showed off their Smart City initiatives and Internet of Things capabilities, and the same will be the case with Dubai, which has launched its initiative to be the smartest city by 2017.
GE is one of the key sponsors of the event, with a keynote address by Bill Ruh, CEO of GE Digital and GE’s Chief Digital Officer, entitled “Fueling Innovation for Operational and Energy Efficiency with IoT.”
Other GE speakers include Jay Allardyce, talking about the digital transformation of energy; Jesse DeMesa discussing “Unified Operations — Connecting People, Machines and Data across the Enterprise,” Jonathan Dunsdon who will cover “Shaping Data — The Aviation Big Data Analytics Approach,” Rick Freeman speaking on “Intelligent Light Fixtures — The Most Valuable IoT Real Estate in a City,” and Denzil Samuels discussing telecommunications. As well, Mohamed Karime will speak about Brilliant Factories, Ali Saleh will focus on big data and health care, and Abhi Kunti will talk about Predix, GE’s cloud-based platform powering innovative IoT apps.
While many aspects of the Internet of Things universe will be discussed during the forum, most sessions will explore an issue that’s central to GE’s own transformation into a digital-industrial company: the power of the Industrial Internet of Things to enhance industry and industrial-scale enterprises. This is no surprise, given that the economic value of the Industrial Internet of Really Big Things could be worth more than twice the consumer Internet by 2025.
As Ruh will explain in his presentation, a major source of scale advantage and cost savings for companies can be achieved by using a new wave of industrial-strength software applications and asset performance management services that harness streams of performance data generated by machines that connected to one another, to people, and to the cloud. GE has developed Predix, the operating system for the industrial world.
Ruh will explore the growing importance of the industrial Internet, service transformation, new business models, and the effects each will have on industry in the decade ahead.
From power and water, healthcare, and oil and gas, to manufacturing and transportation, the Industrial Internet has the potential to make a big impact. GE estimates that in the region, Industrial Internet applications could generate as much as $800 million in additional GDP growth between now and 2030. Globally, the boost could be $15 trillion during that period.
GE has made a strategic decision to focus on software, big data and analytics-based services that will drive its digital transformation to become a Top-10 software company by 2020.
Today, regional companies, infrastructure operators and governments are turning to the Industrial Internet of Things to address their urgent needs to operate more productively and efficiently in order to conserve vital resources and lower environmental impacts, improve performance and productivity, and serve customers better.
The IoTWF 2015, which expects to welcome 1,500 IoT professionals, also features
Dubai Smart City tours, dozens of breakout sessions, deep-dive technical discussions, innovation talks, customer case studies, theater sessions, a “Startup Showcase,” Global Grand Challenges focused on innovation and security, a research symposium and hackathon.
If you visit IoTWF, be sure to stop at GE’s stand in The Hub. If you aren’t attending, you can learn about GE’s Industrial Internet work by visiting GE Digital.