General Electric has announced plans to invest almost 500 million dollars to promote and sell tools for industrial units. The core purpose of the company is to become the sole provider of technology equipment for industries across the globe, which will be called Predix Cloud.

According to  Chicago Tribune, General Electric has decided to introduce its new initiative Predix Cloud that will consist of a global network of data banks. Through this unique facility, GE will integrate the data banks with computing and telecommunication facilities in order to make it easier for manufacturers to improve the efficiency of the industrial processes.

Like Us on Facebook

Jeffrey Immelt, GE's chief executive officer, said that the digitization would allow service providers to provide better facilities and options to the end-consumers. For instance, applying the technology to hospitals will mean better health care, while using it in manufacturing industry would mean the products are able to reach the market faster that increases the chances to earn profits.

William Ruh, head of GE's software business said that the Predix Cloud project holds the potential to transform the way industry works. The successful acceptance of such apps will once again prove the growing prominence of the Internet of Things. Pitney Bowes, one of the customers of this new app said that the feature will be used to send emails and invoices to their customers, as confirmed in a statement to New York Times. Meanwhile analysts believe that GE still lacks the edge that IBM has when it comes to developing industrial applications, simply because of the massive insights that the latter has. 

In the next two years, GE has said that it plans to build ten new plants to support the new initiative. Bill Ruh, GE's vice president of software, said that GE will be partnering with Equinix Inc. in order to develop the data centers. As of now, GE gets data from ten million sensors coming from assets spread across a property of one trillion. With Predix Cloud, GE will be able to provide the analysis to industries across the globe.

Another report on NY Times also confirms the development and says that GE is expecting an approximate increase of 50 percent from its software business.

TagsGE, apps, GE, App, store