PwC and GE Digital form global strategic alliance to help firms harness power of the Industrial Internet
PwC and GE Digital have formed a strategic alliance to help organisations harness the power of the Industrial Internet – the integration of physical machinery with networked sensors and software – to lower costs, improve asset reliability, reduce risk and help drive profitable growth.
The alliance combines PwC’s business transformation expertise with GE Digital’s offerings, including its Predix cloud-based operating system for the Industrial Internet.
Predix helps companies build applications that connect to industrial assets, collect and analyse data, and provide real-time insights to enhance industrial infrastructure operations. PwC and GE Digital will also help clients create customised applications to reflect their specific needs.
The alliance is part of PwC’s broader strategy of investing in new technologies and alliances to help clients thrive in the digital age and capitalise on market disruption. PwC and GE Digital will work with clients globally and across industries.
PwC’s Industry 4.0 research reveals that industrial companies expect to increase revenues by 2.9% per year by digitising products and services, and developing new digital services. Investments in Industry 4.0 are expected to reach around 5% of annual revenue per year, but more than half of companies expect a return on investment within two years.
Commenting on the alliance, Jonathan Tate, UK and EMEA technology consulting leader at PwC, said: “The Industrial Internet is disrupting the market as executives grapple with shrinking profit margins, slowing growth, cost volatility and changing customer demands.
“This alliance demonstrates our commitment to helping clients apply digital technology in a way that’s central to business performance. Together, PwC and GE Digital can help clients find solutions that combine strategy, security, technology, people, process and data to drive distinctive results,” Tate added.
Steve Plimsoll, GE Digital alliance leader for EMEA at PwC, commented: “This alliance is the Industrial Internet in action. It is a formidable combination of analytics, intelligent machines and people and will enable us to deliver value to our clients at a completely new level and uncover insights that were not previously possible.”
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