It is now building a computer operating system for industry that will transform G.E. to a “top 10 software company” in the next four years, according to Jeffrey Immelt, G.E. chief executive.
The Times reports:
“By 2020, G.E. estimates that the data flowing off its machines in use will jump a hundredfold. That should enable far more detailed analysis, giving G.E. a chance to sell its customers not machines but ‘business outcomes,’ like fuel savings. Mr. Immelt sees this as a move up the industrial food chain.
“Yet all of this exposes G.E. to new competition beyond its traditional rivals like Rockwell Automation, Siemens and United Technologies. Tech giants, including Amazon, Cisco, Google, IBM and Microsoft also have their eye on the industrial internet market, as do a bevy of start-ups."
The future of the utility business model tied to creating tomorrow's transactional energy platform will be the central focus of Empowering Customers & Cities, an executive conference by The Energy Times in Chicago November 1-2.