Malaysia’s Internet of Things(IoT) Strategic Roadmap estimates this world of connected devices could deliver as much as RM9.5 billion to gross national income by 2020, creating an additional 14,000 jobs, and leveraging the country as a regional digital hub. Malaysia certainly sits on encouraging foundations, with high digital penetration, strong data connectivity, a skilled workforce and focus on vital STEM learning.
Global business consultants McKinsey estimate as much as 40% of all value in the Internet of Things will be realised in developing countries, nations that are able to move quickly and innovate to success. Malaysia is well positioned to become such a country, but key to realising that value, will be our industrial internet of things (IIoT).
What Can the Industrial Internet Deliver?
GE estimates the IIoT could add as much as US$15 trillion to the global economy by 2030. It will transform industries, open up opportunities, and play a vital role in generating the benefits of a fourth industrial revolution.
The industrial internet of things means a world of connected industry. As the world’s premier digital industrial company, GE is excited to play its part in delivering that in Malaysia. That’s why on the 5th of November, 2016, GE and the Malaysian Digital Economy Corp (MDEC) signed a memorandum of understanding to collaborate on growing Malaysia’s IIoT.
But while global growth estimates offer an exciting window into this future, it can sometimes be a distant view. So what could the IIoT really deliver for Malaysia? Join us, as we imagine a connected Malaysia.
Imagine better roads
Imagine a Malaysia where secure, interconnected smart city networks communicate to create a seamless transport eco-system. This could deliver real benefits to the 75% of Malaysia’s population living in urban environments.
Thanks to integrated city-wide networks, a developed industrial internet provides the capability for intelligent sensors on infrastructure elements such as street lighting, allowing data to be analysed and utilised to deliver better road systems and traffic flow. With fully-autonomous cars widely predicted to start taking to the world’s streets at the start of the next decade, the opportunities for this integrated, connected technology is even more exciting.
An integrated urban network combined with secure, industrial internet analytics could provide huge civic benefit. With a World Bank study estimating that traffic in the Klang Valley alone cost the economy around RM20 billion in 2014, that’s significant opportunity for savings. That’s aside from the wider health benefits of safer roads and reduced pollution.
Imagine a better rail network
Imagine a railway where billions of data points communicate to increase efficiency not simply on individual trains, but across a whole network. Implementation of GE smart software in the US has enabled rail networks to save US$197 million in fuel costs, with trip optimiser software improving fuel efficiency and reducing emissions by around 10%.
As rail links across an increasingly inter-connected ASEAN region grow, integrating into our wider domestic network, IIoT infrastructure offers the opportunity for greater efficiencies, reduced pollution, and may potentially reduce the overall cost of travel.
Imagine cleaner skies
Malaysia is already realising the benefits of cleaner skies, through an extensive collaboration between GE and Air Asia. GE’s Flight Efficiency Savings combined with the power of industrial internet have assisted Air Asia to save up to 60kg of fuel each flight, with as much as US$50 million savings over a 5 year period.
That means lower costs for Air Asia, reduced pollution in the skies above ASEAN, and a positive impact on the affordability of air travel throughout the region.
Imagine better healthcare
Connected devices and smart communications mean that healthcare is more advanced, and more accessible, than ever. Imagine a Malaysia where a specialist consultant in KL can work with real time data from diagnostic devices or robotic tools in Sarawak, offering first-class specialist care to a patient in need at a remote location.
Industrial data doesn’t simply provide remote connectivity, but greater efficiency in a wider healthcare environment. Industrial internet capabilities allow software solutions which reduce patient wait time, streamline work tasks and offer a better overall patient experience.
Imagine brilliant factories
Imagine a connected manufacturing sector using real-time analytics and remote monitoring to help deliver greater safety and efficiency to factories the length of Malaysia. Growth in IIoT investment in manufacturing globally is estimated by some to reach a CAGR of 26.9% to 2020.
Industrial internet applications can reduce unplanned downtime, reduce required inventory and help increase productivity. A connected sector means having the data for Malaysia’s manufacturing to stay competitive and continue to grow.
Imagine a better energy network
Industrial internet capabilities mean opening up a more efficient energy network, creating greater efficiencies that help generate energy for lower costs and with less environmental impact.
A new combined-cycle gas power plant could save up to US$50 million in net present value over 10 years by utilising advanced data analytics. Meanwhile innovative distributed power solutions with remote diagnostics can provide vital power generation to rural communities in Malaysia, utilising data analytics to reduce downtime and ensure uninterrupted supply.
This is our connected Malaysia
The realities of our connected world are already being realised. This is a world where collaboration and innovation form the foundations for a smarter tomorrow. GE is excited to be a crucial part of that collaboration here in Malaysia.
Imagine Malaysia highlights just some of the exciting opportunities in this world of connected industry. Key to delivering these benefits will be the interoperability of our future connected networks, and our ability to work together. GE has a long history of collaborating with innovators in partnerships that delivers results. In the realms of industrial internet, that’s more important than ever.
The industrial internet provides the capabilities to help us build a brighter future. This is a world of innovation, where connectivity creates opportunity. This, is a connected Malaysia.