G.E. is making a cautious yet calculated venture into the Industrial Internet of Things (IIoT), a potentially lucrative market where machines are networked together. The company’s approach is to prioritise the creation of industrial applications, which can generate immediate revenue, over the longer-term task of creating a platform for the IIoT. G.E. has developed Predix, a cloud-based software platform designed to analyse the vast amount of data generated by industrial machines. The company has also created a suite of applications that run on Predix, which are already generating significant revenue. G.E. is also collaborating with other companies, such as Intel and Cisco, to create standards for the IIoT. This collaborative approach is seen as crucial for the IIoT to reach its full potential. However, G.E. faces competition from other tech giants, such as IBM and Microsoft, who are also keen to establish a foothold in the IIoT market.
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