As CEO Immelt steps down GE launches applications, and edge-to-cloud analytics to aid industrial transformation

At Minds + Machines Europe in Berlin, Germany this week, GE unveiled new solutions that are purpose-built for industrial assets, environments and operations. This came at the same time as Jeffrey Immelt stepped down as chairman and chief executive of General Electric Co., says Jeremy Cowan.

This ends a 16-year tenure that has seen him lead a transformation of its own at GE, going back to its industrial roots. He achieved good organic growth in the business but struggled to satisfy critics on Wall Street who pointed to weak stock prices.

Immelt has been replaced by John Flannery, who has been with GE for 30 years, most recently as leader of the health-care unit, where he who presided over strong growth in profits.

Meanwhile, the Minds + Machines Europe event outlined the path to greater productivity for customers of the company’s asset performance management (APM) and ServiceMax industrial applications. Both are powered by Predix, GE’s platform for the Industrial Internet.

“Europe can lead the digital industrial era,” said Immelt. “Investment in technology, such as automation, advanced manufacturing, and artificial intelligence – along with new skills – can transform industry and drive productivity. GE has long been committed to Europe, and we are invested in its future.”

Transformation of the current industrial service model is a critical element of the digital industrial journey. Most companies today lack the ability to combine insights from data with actions in real time when managing and servicing assets. This contributes to unplanned downtime, which has significant impact on industrial productivity.

To reduce cost and eliminate downtime, it is critical for asset-intensive industries to shift from a reactive, break/fix service model to a predictive model. This change will help companies better understand potential equipment issues preemptively or act upon them quickly with the correct tools and parts.

Jeffrey Immelt

To achieve this, GE Digital unveiled an integrated solution to deliver the industrial service model of the future that combines the power of ServiceMax, its cloud-based field service management (FSM) solution, with its intelligent Asset Performance Management portfolio. Available in late 2017, the combination of ServiceMax + APM will enable industrial companies to transform how they predict, manage and service the entire asset lifecycle.

“The Industrial Internet is enabling companies to take advantage of possibilities that previously seemed out of reach. But in many ways, we are still in the early stages of this transformation journey as companies seek to move from gaining insight to taking action and as automation gives way to autonomous systems,” said Bill Ruh, CEO, GE Digital. “GE Digital is helping companies use technology and information to transform how they operate and create new possibilities – from delivering the industrial service model of the future to creating entirely new business models.”

GE Digital’s APM and FSM solutions automatically collect and analyse service data – from predictive maintenance needs to failure information and recommended work actions – to help industrial companies move beyond traditional asset monitoring to advanced predictive maintenance and asset performance management.

This new approach also provides enhanced scheduling capabilities. Matching customers’ service workforces with their service needs, the offering helps industrial companies dispatch the right engineers to the right job at the right time – and ensure they are qualified, prepared and equipped to successfully complete their work. Receiving updates from workers in the field, the software provides a closed loop from issue identification to resolution, while ‘learning’ about the most efficient issue resolution methods over time to improve analytics with each alert.

As companies accelerate digital transformation through the combination of GE Digital’s APM and ServiceMax offerings, they can more proactively manage the entire asset lifecycle, increasing productivity and operational efficiencies that can open the door to future business growth.

Transforming service at the edge

Additionally, GE Ventures has launched Avitas Systems, a new data-driven company that will use predictive data analytics, robotics and artificial intelligence (AI) to deliver advanced inspection services to the oil and gas, transportation and energy industries.

“The inspection services industry requires cutting-edge technologies to avoid unplanned asset downtime and deliver new, valuable insights,” said Alex Tepper, managing director of Avitas Systems. “We deploy state-of-the-art robotics and cloud-based technology to give customers the customised service and insights-based data they need to advance from reactive to predictive repair – no matter where their assets are located.”

The Avitas Systems solution, using the Predix platform, is built to support the unique service needs of companies with remote assets, particularly in the oil and gas, transportation and energy industries. The solution helps customers analyse inspection data, integrates regulatory and external sources, such as weather, identifies defects automatically and recommends optimal inspection and maintenance schedules. The system can fuse data from diverse sources and independently analyse the relationships between them for deeper insights – and incorporates user feedback to make defect detection smarter and more accurate.

John Flannery

By reducing high-risk tasks through robotics, Avitas Systems can make inspection processes safer and more efficient through data automation, decreasing costs by up to 25%. By performing inspections based on anticipated risk, instead of regular time intervals, Avitas Systems can also help to increase asset longevity.

GE estimates that service transformation represents a $40 billion market opportunity. With ServiceMax + APM and Avitas Systems, GE is helping industrial companies manage, optimise and gain insight into their assets across each stage of the lifecycle – all driven by Predix. As the only platform that provides computing capabilities from the edge to the cloud, Predix gives GE customers visibility, control and analytic insights to every part of their industrial infrastructure and operations.

Transforming energy management and customer operations

GE also announced a suite of new industrial applications, solutions and partnerships to help companies take advantage of the Industrial Internet – moving beyond the factory walls to enable the digital industrial companies of the future. The solutions build on GE’s expansive suite of Predix-powered tools and applications purpose-built for the Industrial Internet.

    • Data-Optimised energy trading & the ‘Digital Utility’: To help utilities navigate the changing energy market, GE Power unveiled the ’Digital Utility,’ a suite of Predix-based applications that connect real-time machine data with a utility’s profitability.

The new Business Optimisation software is first of its kind, bringing analytics to the business side of power and utilities companies to help energy traders act profitably in long-term, day-ahead and short-term wholesale markets. The Digital Utility includes updates to GE Power’s Operations Optimisation software, incorporating closed-loop analytics to improve generation efficiency for entire fleets.

Additionally, GE’s APM solutions for energy businesses now connect all assets across the entire Electricity Value Network (EVN) in an integrated application, providing customers with a single view of assets spanning power generation to the grid.

    • Advanced utility operations: GE Digital alliance partner PwC showcased its Predix-powered commercial operations solution for utility companies. This solution enables executives to identify margin ‘leakage.’

The solution analyses plant performance data from GE’s Operations Optimisation application, commercial data from dispatch and market-facing system from GE’s Business Optimisation application. The solution is expected to launch this summer.

    • Reduced carbon dioxide emissions: GE Distributed Power and Dalkia announced that through GE distributor Clarke Energy, the companies have equipped more than one-third of Dalkia’s 170+ Jenbacher gas engines with GE’s myPlant* APM solution, powered by Predix.

In total, the fleet of engines could power more than 240,000 French households, resulting in lower carbon dioxide emissions – which equates to taking nearly 100,000 European cars off the road annually.

    • Predix-Powered clean energy: GE Renewable Energy and Fina Enerji signed a 10-year full service agreement that covers 150 GE wind turbines in Turkey.

The deal will implement GE’s Predix-based Digital Wind Farm hardware and software solutions, which use data analytics to increase wind farm operations. With these digital capabilities, GE Renewable Energy will help develop smarter wind power forecasts for the Turkish market.

    • Predix-enabled additive manufacturing:GE Additive will add Predix edge technology to its Concept Laser M2 cusing additive machines.

This move allows customers to remotely monitor and collect data from their machines – helping them analyse trends and uncover insights to improve asset performance and operations.

    • Data-driven drilling: Last year, GE’s Marine Solutions and Maersk Drilling announced a partnership to collaborate on a data analytic-driven pilot project, aimed at increasing Maersk’s drilling vessel’s productivity by reducing maintenance costs by up to 20% and increasing drilling productivity.

The deployment of SeaStream* Insight, GE’s APM solution for Marine powered by Predix, is already showing great potential, and Maersk and GE are looking to expand onto Maersk’s second rig, Interceptor, to broaden the outcomes achieved from the pilot project.

Together, these solutions and deployments advance GE’s vision for the Industrial Internet with a portfolio designed to accelerate customers’ transformation journeys and create new paths to growth for customers of every size and scale.

Comment on this article below or via Twitter: @IoTNow OR @jcIoTnow

RECENT ARTICLES

Surrey leads new £8 million FORT centre for advancing secure networks

Posted on: March 18, 2024

The Engineering and Physical Sciences Research Council (EPSRC) announced that Surrey’s 5G/6G Innovation Centre will lead a new £8 million Centre for Doctoral Training in Future Open Secure Networks (FORT). 

Read more

Protecting assets with LTE, NTN & 5G LPWA

Posted on: March 15, 2024

In this compelling piece, part of the Key Industry Insights Series, Analyst Robin Duke-Woolley of Beecham Research and Kevin Guan of Fibocom, explain how LTE Cat 4/1/1bis/M, NTN and 5G LPWA are working to change the game for protecting goods and supply chains with total, global coverage asset tracking for reduced losses and improved operations

Read more
FEATURED IoT STORIES

What is IoT? A Beginner’s Guide

Posted on: April 5, 2023

What is IoT? IoT, or the Internet of Things, refers to the connection of everyday objects, or “things,” to the internet, allowing them to collect, transmit, and share data. This interconnected network of devices transforms previously “dumb” objects, such as toasters or security cameras, into smart devices that can interact with each other and their

Read more

The IoT Adoption Boom – Everything You Need to Know

Posted on: September 28, 2022

In an age when we seem to go through technology boom after technology boom, it’s hard to imagine one sticking out. However, IoT adoption, or the Internet of Things adoption, is leading the charge to dominate the next decade’s discussion around business IT. Below, we’ll discuss the current boom, what’s driving it, where it’s going,

Read more

9 IoT applications that will change everything

Posted on: September 1, 2021

Whether you are a future-minded CEO, tech-driven CEO or IT leader, you’ve come across the term IoT before. It’s often used alongside superlatives regarding how it will revolutionize the way you work, play, and live. But is it just another buzzword, or is it the as-promised technological holy grail? The truth is that Internet of

Read more

Which IoT Platform 2021? IoT Now Enterprise Buyers’ Guide

Posted on: August 30, 2021

There are several different parts in a complete IoT solution, all of which must work together to get the result needed, write IoT Now Enterprise Buyers’ Guide – Which IoT Platform 2021? authors Robin Duke-Woolley, the CEO and Bill Ingle, a senior analyst, at Beecham Research. Figure 1 shows these parts and, although not all

Read more

CAT-M1 vs NB-IoT – examining the real differences

Posted on: June 21, 2021

As industry players look to provide the next generation of IoT connectivity, two different standards have emerged under release 13 of 3GPP – CAT-M1 and NB-IoT.

Read more

IoT and home automation: What does the future hold?

Posted on: June 10, 2020

Once a dream, home automation using iot is slowly but steadily becoming a part of daily lives around the world. In fact, it is believed that the global market for smart home automation will reach $40 billion by 2020.

Read more

5 challenges still facing the Internet of Things

Posted on: June 3, 2020

The Internet of Things (IoT) has quickly become a huge part of how people live, communicate and do business. All around the world, web-enabled devices are turning our world into a more switched-on place to live.

Read more