In the GE case study in The New Polymath (excerpted below) I wrote
His predecessor, Jack Welch, earned the nickname “ Neutron Jack ” for his focus on efficiency; Immelt will likely go down in history as “ Proton Jeff, ” as he encourages positive vibes toward all kinds of technology. GE Global Research (GRC) is organized into 10 technology competencies: energy and propulsion, chemical technologies and materials characterization, material
systems, biosciences, power conversion systems, electronic systems and controls, computing/decision sciences, imaging, micro and nano structures, and ceramics and metallurgy.
Walking out of the GRC (I was there in 2009 during my book research) I just knew Immelt had groomed GE into a technology juggernaut, even if GE is not classified as such by Wall Street, media and analysts.
I have since keenly followed GE’s technology road maps and product directions and this blog catalogs many of the innovations that are launched through GE’s wide range of business units and country locations.
This morning GE emailed me a paper on what it calls the “Industrial Internet” (available here).
“The Industrial Internet will help eliminate hundreds of billions of dollars of wasted time and resources across critical industries by combining Internet-connected machines, product diagnostics, software, and analytics to make business operations efficient, proactive, predictive, and strategically automated.”
Its definition includes 3 components
Intelligent machines : New ways of connecting the word’s myriad of machines, facilities, fleets and networks with advanced sensors, controls and software applications.
Advanced Analytics: Harnessing the power of physics-based analytics, predictive algorithms, automation and deep domain expertise in material science, electrical engineering and other key disciplines required to understand how machines and larger systems operate.
People at work: connecting people, whether they be at work in industrial facilities, offices, hospitals or on the move, at any time to support more intelligent design, operations, maintenance as well as higher quality service and safety.
The potential payback is huge
• Connecting machines and the Internet could potentially eliminate $150 billion in waste across major industries, driving a productivity revolution
• Just 1% increase in efficiency can mean savings of $30 billion in aviation, $66 billion in power generation and $63 billion in healthcare over 15 years
Immelt, and the authors of the GE paper are presenting on the GE vision of the Industrial Internet this Thursday at its Mind+Machines event in San Francisco. I will plan to be pretty close to the front.