GE (NYSE: GE) today announced nine new industrial service technologies and a joint venture with Accenture that will help drive a productivity revolution and transform global industries. Combining product diagnostics software and analytics, these technologies will connect machines to machines, machines to people, and machines to business operations allowing airlines, railroads, hospitals, manufacturing and energy companies to operate more efficiently, reduce costs, and potentially eliminate $150 billion in waste across major industries.
The nine new intelligent services will expand GE’s Industrial Internet technologies and deliver four categories of outcomes and benefits to customers including optimized networks, optimized plants and facilities, optimized assets and service quality and productivity. The new technologies, available today, cross major industries, including energy, oil & gas, healthcare, aviation, rail, and manufacturing.
Additionally, as part of GE’s $1 billion overall investment into new service offerings and support for emerging business models announced last year, GE Aviation and Accenture today announced a new joint venture, Taleris™, which will provide airlines and cargo carriers around the world services to improve a plane’s efficiency by using aircraft performance data, prognostics, recovery and planning.
GE Chairman and CEO Jeff Immelt said, “The Industrial Internet is revolutionizing the services we provide our customers, helping them become more efficient and productive. GE will leverage our $150 billion services backlog to develop technologies that improve the performance of our industrial products and grow our dollars per installed base 4-5% annually.”
According to findings of a new GE report,
“Industrial Internet: Pushing the Boundaries of Minds and Machines,”
the power of 1% efficiency across industries is substantial savings. For example, over 15 years, just 1% fuel savings in the energy industry could save $66 billion, 1% fuel savings in aviation could yield more than $30 billion in savings and in healthcare, 1% of efficiency gained would mean $63 billion in global healthcare savings.
“The internet has changed the way we consume information and talk with each other, but now it can do more. By connecting intelligent machines to each other and ultimately to people, and by combining software and big data analytics, we can push the boundaries of physical and material sciences to change the way the world works,” Immelt said. “GE plans to launch 20 new additional Industrial service technologies in 2013 to continue to drive this productivity revolution.”