Thursday 28 Mar 2024
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The way we do business and interact with industrial machines is constantly changing, largely due to the rise of the Industrial Internet.

The benefits from this marriage of machines and analytics are multiple and significant, with technical innovations of the Industrial Internet expected to account for more than $32.3 trillion in economic activity.

GE, an industry leader of the Industrial Internet, highlighted that a mere one percent improvement could result in large scale benefits to businesses and end-users. They shared their views on the applications of this technology, as well as how they foresee the evolution of the Industrial Internet in the years to come.

1. Co-Creation – The Highway to Innovation

GE’s PredixTM is a powerful new software platform that connects people, data and machines over the Industrial Internet. Similar to the iOS that powers an iPhone, PredixTM has a set of software services that help developers build apps for the Industrial Internet.
Taking a step further, GE launched the PredixTM App Factory, an advanced methodology for rapidly prototyping, validating, and developing Industrial Internet applications, to help shorten typical development cycles from months to a matter of weeks.

2. To Efficiency and Beyond – The Power of One Percent

With the Industrial Internet, an increase of one percent in efficiency could result in a substantial amount of savings. It starts with embedding sensors and other advanced instrumentation in an array of machines from the simple to the highly complex. This allows the collection and analysis of an enormous amount of data, which can be used to improve machine performance, and inevitably the efficiency of the systems and networks that link them.

3. When Humans and Machines Think as One

According to analyst firm Gartner, more than 26 billion devices will be connected by 2020; the Industrial Internet will play a huge part in connecting machines and humans, allowing them to interact with each other.
This data provides valuable information and insights to businesses and those in charge of bringing greater efficiency, and productivity to these industries.

4. The Power of Real-Time Insights

While it is important to be in the know, it is crucial to be in the know NOW. Analysing real-time data leads to effective marketing, new revenue opportunities, better customer service, improved operational efficiency, competitive advantages over rival organisations; the list goes on.
With the advancement of system monitoring and the falling costs of information technology, the ability to work with real-time data is expanding. Greater capability to manage and analyse high frequency real-time data brings a new level of insight on system operations. 

5. Productivity & Efficiency Can Help Save Lives

Not only does the Industrial Internet increase efficiency and productivity; it also helps save lives. The combination of sensors, data analytics, and data sharing between people and machines will tell us what we need to know before it happens.
For example, an intelligent aircraft will be able to alert maintenance crews on which parts need replacing and when.  This will enable airlines to plan their maintenance schedules accordingly, minimising the risk of mechanical failure.

GE Reports Malaysia provides the latest news on science, technology and innovation. Stay ahead with the latest industry insights. Subscribe today at www.gereports.com.my.

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