Yesterday, industry leaders, customers and partners convened in Chicago for the 2nd annual GE Minds + Machines conference. In addition to providing updates on the state of the Industrial Internet, GE announced the launch of it's Predix software platform, 14 new Industrial Internet solutions, as well as partnerships with AT&T, Intel and Cisco. Today's post shares some of the media's takeaways from the event.
If you weren’t able to catch yesterday’s M+M general session, you can watch it here: ge.com/mindsandmachines.
"The so-called Industrial Internet involves putting different kinds of sensors, sometimes by the thousands, in machines and the places they work, then remotely monitoring performance to maximize profitability. G.E., one of the world’s biggest makers of equipment for power generation, aviation, health care, and oil and gas extraction, has been one of its biggest promoters." - Quentin Hardy, New York Times
“At its "GE Minds and Machines" conference in Chicago on Tuesday, GE forecast that the industrial Internet could save $20 billion a year.” - Reinhardt Krause, Investor’s Business Daily
“The industrial machine-to-machine (M2M) agreement could have enormous implications…," said Morgan Mullooly, an analyst at Analysys Mason. "We expect a tremendous number of M2M connections to be activated in the next two to three years, as millions of industrial components roll off GE productions lines fitted with embedded M2M modules and ... dispersed around the globe." – Matt Hamblen, IDG News Service
"As Florian Zettelmeyer, a professor at the Kellogg School of Management at Northwestern University, told Minds+Machines attendees, you don’t have to become a data scientist to effectively move in this industrial internet age--but you do have to have the skills to ask the right questions, understand what the data is telling you, and know how to link cause and effect. In other words, “Adjust your processes” to effectively use data and “empower yourself” with a working knowledge of data science." - Lee Ann Tegtmeier, Aviation Week
Put together, buyers of GE industrial equipment will have data on their machines collected by Intel sensors that are communicated instantly via AT&T networks to servers where Cisco Systems programs will analyze the data in real time for efficiency and potential maintenance problems. That's an impressive suite of applications and services that allows customers to optimize their industrial assets." - Daniel Ferry, Daily Finance | Motley Fool