GE jumps into the fray of industrial Internet, It's being called the industrial Internet of things (IIoT), an emerging business at the intersection of hi-technology and big machinery.
The concept is simple: making industrial machines smarter, through the adoption of sensors, software and big data analytics. As consumers become increasingly reliant on the information provided by mobile devices and smart technology, IIoT seeks to do the same for business by streamlining operations and making them more efficient.
To be sure, the industrial Internet is very much in its infancy. Yet a report by Accenture says the potential economic impact of industrial web spending is huge: IIoT expenditures may reach $500 billion by 2020, and could even add $15 trillion to global growth by 2030. Companies from a wide spectrum of industries such as oil, mining and agriculture, are dedicating resources to the concept.....Read More
The concept is simple: making industrial machines smarter, through the adoption of sensors, software and big data analytics. As consumers become increasingly reliant on the information provided by mobile devices and smart technology, IIoT seeks to do the same for business by streamlining operations and making them more efficient.
To be sure, the industrial Internet is very much in its infancy. Yet a report by Accenture says the potential economic impact of industrial web spending is huge: IIoT expenditures may reach $500 billion by 2020, and could even add $15 trillion to global growth by 2030. Companies from a wide spectrum of industries such as oil, mining and agriculture, are dedicating resources to the concept.....Read More
