General Electric to benefit from industrial internet applications

Written by on July 20, 2016 in News with 0 Comments
The logo of General Electric is shown at their subsidiary company GE Aviation in Santa Ana, California. REUTERS/Mike Blake

The logo of General Electric is shown at their subsidiary company GE Aviation in Santa Ana, California. REUTERS/Mike Blake

SHANGHAI (Reuters) – General Electric Co (GE) will make $500 million of productivity savings in 2016 from using industrial internet applications, a company executive said on Wednesday.

GE Chief Digital Officer Bill Ruh made the comments at a press conference in Shanghai, where the company also announced a partnership with China’s Huawei Technologies to develop its industrial internet strategy.

GE, the world’s biggest maker of jet engines and diesel locomotives, wants to connect machines using the internet, producing data that can improve productivity, reduce emissions and lower fuel costs.

It also launched a digital space in Shanghai on Wednesday where it plans to incubate new start-ups and have developers work on new software applications.

(Reporting by Brenda Goh; Writing by Ben Blanchard; Editing by Stephen Coates)

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