The report showcases both industry waste and the Industrial Internet opportunity:HEALTHCARE
- The global cost of healthcare inefficiency is at least $731 billion per year
- A 1 percent improvement in efficiency would lead to $63 billion global healthcare savings over 15 years.
- Globally, $1.9 trillion is spent on energy annually
- Just a 1% savings per year in power generation is equal to $20 billion annually; $300 billion in over 15 years
- Globally, transportation logistics costs are estimated to be $6 trillion per year, or approximately 10% of global GDP. The commercial transportation system accounts for $300 billion of this total
- Industrial Internet applications can reduce commercial transportation asset and operations management costs by 10 percent, yielding $5.6 billion per year in savings
- The total cost of waste in airline operations today is $284 billion per year
- In the aviation industry, a 1% reduction in jet fuel use from the Industrial Internet could yield about $30 billion in fuel savings over 15 years.
Peter C. EvansDirector of Global Strategy and Analytics, GE Peter Evans is Director of Global Strategy and Analytics at General Electric Co. and served for five years as the head of Global Strategy and Planning at GE Energy. Prior to joining GE, he was Director, Global Oil, and Research Director of the Global Energy Forum at Cambridge Energy Research Associates (CERA). He also worked as an independent consultant for a variety of corporate and government clients, including the US Department of Energy, the Organization for Economic Cooperation and Development (OECD), and the World Bank. Dr. Evans has extensive international energy experience, including two years as a Visiting Scholar at the Central Research Institute for the Electric Power Industry in Tokyo, Japan. He is a lifetime member of the Council on Foreign Relations and a Board Member of the National Association for Business Economics. Dr. Evans holds a BA degree from Hampshire College and a Master’s degree and PhD from the Massachusetts Institute of Technology. About GE GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and helping to cure the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.