GE Predix Cloud-based Operating System to Power Industrial IoT Applications

Capturing the Potential of the IIoT

GE and EY believe their respective experience in both IoT technology and business solutions will result in big gains for their industrial customers. In fact, the IIoT is so promising that companies in the automotive industry alone expect to spend over $200 billion USD for IIoT technologies over the next 5 years.

With so much at stake, this collaboration could have a lot to offer. One specific example is oil and gas producers utilizing IIoT solutions to optimize aspects of their business, such as developing more efficient maintenance schedules for oil rigs.

Another industry that could stand to benefit is hospitality. For example, hotels could use IIoT data and analytics to optimize booking of their rooms, with full consideration for situations such as plumbing and maintenance requirements. It goes without saying that such optimizations have the potential to reduce costs, save time, and ultimately improve bottom lines.

GE Gains Another IoT Ally

With this latest partnership, GE is continuing its trend of collaborating with other firms in the IoT sector. Last year saw a GE alliance with PTC, maker of the ThingWorx IoT platform. One of the key goals of this partnership was to ensure compatibility between ThingWorx and Predix.

“We are building an industrial internet ecosystem with world-class partners who share our commitment to delivering better outcomes for our customers,” said Bill Ruh, CEO of GE Digital.

Carmine Di Sibio, a managing partner of EY, is also optimistic about the partnership and what it could offer businesses. “With GE Digital, we’ll help industrial companies not only improve productivity of their existing assets, but also help them to fundamentally reshape their enterprises.”