Teaching Customers How to Surf the Digital Industrial Wave
“A digital wave is sweeping through every industry, organization and culture. There is no room to stand on the sidelines, no safe haven to ride out this disruption,” says IT consultancy Gartner.
That’s pretty strong language, but the urgent tone mirrors the significance that GE gives to the dramatic disruption that’s coming as the digital and industrial worlds merge. This disruption, however, offers lots of opportunities, with GE’s chief economist seeing this as the third wave in the relationship between humans and machines.
GE is so excited about the impact of software and big data on the world of iron and huge machines that it’s redefining itself as a digital industrial company and aims to be a top-10 software company by 2020. Just last week the company announced the GE Digital Alliance Program, a first-ever collaboration to grow the digital industrial ecosystem.
Through GE’s Predix – an open, cloud-based operating system designed specifically to run software for the Industrial Internet – companies can harness the tremendous productivity, efficiency and operating enhancements that are made possible by blending together software, big data, big machines and other large systems.
GE is leading this evolution into a new era of dramatically increased industrial efficiency and productivity, having already achieved improvements in the range of 20% across a range of its customers’ industries.
The impact on this region is equally large. GE has calculated that the net positive annual impact on GDP for the Middle East, North Africa, Turkey and Pakistan region could be $465 billion by 2025. GE customers are already putting Industrial Internet solutions in places that are enhancing their competitiveness. Examples include RasGas in Qatar, which is the first company globally to deploy GE’s Asset Performance Management solutions based on Predix. Other examples include GE’s work with Engro Fertilizers and the Sapphire Group in Pakistan to apply Industrial Internet solutions that improve performance and enhance the ability to better predict maintenance and other equipment issues at their power plants.
In a white paper called “The Moment for Industry” released during GE’s Minds+Machines event in Dubai last November, Marco Annunziata, GE’s Chief Economist, said focus is beginning to shift from the consumer Internet to the Industrial Internet because of its tremendous potential to offer even larger economic benefits than has been realized in the consumer Internet.
Annunziata points to research showing that the value of the Industrial Internet could be worth nearly three times the consumer Internet by 2025. New digital solutions will be developed at an accelerating pace, with benefits rapidly spreading across the world economy. Advanced economies will be able to apply the new digital solutions to a larger base of industrial assets already in place. Emerging economies, such as those in this region, will have the opportunity to leapfrog older
technologies with a faster pace of investment.
GE will be discussing the role of Industrial Internet applications across industries and customer applications as part of its participation in the Gartner Symposium/ITxpo, which opens today in Dubai. At this event, which is one of the most important gatherings of chief information offices and senior IT executives in the world, Platinum Sponsor GE will contribute to a discussion on “Digitizing the Power Industry.” Visitors to the symposium also can visit the GE stand at P13.
Through partnerships to drive value creation on the Industrial Internet platform, GE is supporting national development, economic diversification and company growth strategies across the region — as it has for more than 80 years. In bringing together the industrial and digital worlds in the region and globally, GE will solidify its place as a digital industrial company.