Inside This VDC View
Policymakers, economists, and the leaders of industry are locked in heated debate over the terminal stagnation and slow GDP growth that has manifested itself in the majority of advanced countries, and that many fear might spread to the global economy as a whole. GE chairman and CEO Jeff Immelt believes that unusually weak industrial productivity growth is a key factor and that “productivity needs a reboot”, as he highlighted in his keynote speech at GE’s Minds + Machines conference in November 2016.
It is against this challenging backdrop that the world’s industrial giants – ABB, Bosch, GE, Honeywell, Siemens, Schneider Electric, etc. – and their customers find themselves radically reorganizing their equipment and facilities around the software and systems that will enable plants, mines, and factories to operate with greater efficiency.
Enter the IoT cloud platform – a hybrid engineering and a business model solution to address this pressing need for industrial efficiency.
In this VDC View, we will take a closer look at one of the leading Industrial IoT cloud platforms: GE's Predix. We will dive into the technology necessary to build a cloud platform, outline Predix’s pricing, security, and application-building features as they stand today, and examine the challenges that loom ahead for GE Digital.