20 June 2018

GE’s investment to add $15 trillion to world GDP

Future Plans of GE's to invest over $100 billion

As per the reports given by Economic Times, Sundar Murugappan the user experience researcher of General Electric has collected data on power outages in hospitals in parts of the US to help predict and avoid outages.

According to the reports, GE, which is a $150-billion MNC, has planned to investment more than $100 billion and hire more than 400 engineers at its San Ramon centre which develops digital tools to analyse millions of gigabytes of data generated by machines. The company also expects the process of connecting machines to the internet also called as “Industrial Internet” to generate an additional $15 trillion in global GDP by 2030, which will also help in reducing costs and wastages. The “Industrial Internet” will drive home the difference with consumer internet where people are connected to the World Wide Web instead of machines. The “Industrial Internet” can be used to remotely diagnose the disease by connecting to the wireless internet.

As per the data given by Economic Times, GE which manufactures machines of many types is expecting 50 billion industrial machines to be connected to the Net by 2020 apart from the five billion medical devices that are connected to the internet now.

News Source: Economic Times

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