iConnect: Exponential Technology
When digital converges with the industrial world, the transformation that comes out of it redefines, not only the asset but also brings exponential technology growth to the asset. For instance, a smart phone while still performing its primary function, brings out a whole new dimension when digital technology is added to a vanilla asset. Immense productivity gains have been had by extending the smartphone as a platform, computing device and a shared ecosystem. In a similar way, a company producing interconnected industrial devices becomes a fundamentally different company. Physical machines are subject to physical laws, and will therefore not enjoy the full improvement as compared to software assets. But as digital becomes closely interlinked with the physical, it will accelerate the pace of performance improvement in a way that has hitherto not been possible. Connecting the digital world of research, design, engineering and manufacturing enables a company to drastically reduce the time to introduce new products. Driving faster responses to customer needs and thereby higher engineering productivity. Translating real-time factory and supply chain data into insights enables us to respond faster to shifts in customer needs. This session presents some examples of GE’s business centric innovations using our digital industrial capabilities.