GE has unveiled some heady ambitions for its industrial Internet of Things platform that it thinks will have hit $6 billion (around £3.9 billion, or AU$8.5 billion) in orders by the end of this year.
First reported by Tech Crunch, the company told attendees at its Minds + Machine conference in San Francisco that the Predix platform will have achieved $5 billion (around £3.3 billion, or AU$7.1 billion) in revenues and $6 billion (around £3.9 billion, or AU$8.5 billion) in orders by the end of 2015 and use that as a platform for future growth.
$230 million in savings
GE's VP and global technology director Bill Ruh thinks it can save companies $230 million (around £151 million, or AU$327 million) per plant over a 20 year period. A big saving but also incredibly ambitious.
Industrial IoT, or Industry 4.0, was first mentioned by GE three years ago, and at the time it said it would boost global GDP by between $10 trillion (around £6.39, or AU$13.56) and $15 trillion (around £9.59, or AU$20.34) in 20 years. When you consider the earlier figures in this context you realise GE isn't being overly ambitious about its platform.