We are at a critical inflection point for the future of business. Digital is reshaping every sector, and industrials know they need to own the productivity of their assets in order to succeed. This is especially true in manufacturing, power generation, oil and gas, aviation, and other critical industries, where system failures and lengthy downtime can result in high-risk, high-cost, or critical safety situations. Take Gerdau, for example, the largest producer of long steel in the Americas. When the company experiences an asset failure, it loses an average of $12,000 per hour of downtime.
All of industry is going to have to master digital to compete in the future. Industrials need to leverage digital technologies to improve efficiency and move beyond autonomous systems. At GE Digital, we are changing the relationship between humans and machines by moving to a world where machines advise people on how to run more efficiently and be more productive. We do it by understanding and mastering assets – the foundational capability needed to transform digitally.
Through the Predix portfolio, GE Digital’s platform and applications for the Industrial Internet, we support customers across the industry to help them run their operations more efficiently. The New York Power Authority (NYPA) is the largest state public utility in the United States. Leveraging GE Digital’s software, data analytics, and applications, NYPA’s new digital “mission control” center allows engineers to process gigabytes of data and mine it for valuable insights. It also enables it to control all 16 of NYPA’s power plants as well as key points within its massive power transmission network – supplying a quarter of the state’s electricity. By leveraging Predix applications, NYPA is turning data into actionable insights to provide affordable, reliable, and sustainable power.
Take the case of SIG, a leading global provider of packaging systems and solutions for the food and beverage industry. By deploying GE Digital’s Predix Asset Performance Management (APM) and Predix ServiceMax applications, SIG will be able to build an end-to-end digital platform to help reimagine its supply chain, enhance quality control technologies, and evolve its portfolio mix. This will transform how SIG predicts, manages, and services the entire lifecycle of its machines. Through this large-scale, global collaboration, we will co-innovate packaging solutions and technologies to address the industry’s two biggest needs today: improving asset performance and optimizing service delivery. With an immense amount of data available, there is an opportunity to provide customers with increasingly valuable services. Industrial businesses that aren’t able to make the transformation will find themselves increasingly irrelevant.
At GE, we have shifted from simply selling products to selling outcomes – from reducing equipment failures to increasing fuel efficiencies.
We are building our industrial applications around our customer’s entire system of assets from the edge to the cloud – enabling transformation and survival today as well as creating the intelligent systems of tomorrow.