Innovative companies in the Subscription Economy are creating comprehensive industrial IoT service ecosystems. GE Predix is a great example of a company at the center of the industrial automation evolution, providing a platform for expanding industrial automation to the cloud. While GE builds systems to control industrial equipment, Predix is building an ecosystem of applications with shared data that work together to improve performance and increase efficiency.
To put it in layman’s terms, it’s like crowdsourcing for industrial transformation with Predix serving as the infrastructure for gathering, storing, mining, and transmitting information from a host of systems, in order to uncover and deliver actionable insights.
Because Predix as a platform is easily extendable, there’s no limit to the industrial applications that it will be able to support. And as new services are added to its portfolio, it will only become more powerful as a tool for greater industrial efficiency, increased safety, improved environmental impact, and surging financial returns.