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GE Predix Software Platform Offers 20% Potential Increase in Performance Across Customer Base; New GE Offerings Accelerate Transformation into a Digital Industrial CompanyWith its total portfolio of software and solutions set to deliver more than $5 billion in revenue this year with $6 billion in orders, GE (NYSE:GE) today announced new products and partnerships. By 2020, it expects more than $15 billion in software and solutions revenue driven by Predix scale and internal productivity. By pairing digital technology with its domain expertise across industries like aviation, energy, healthcare and transportation, GE is transforming itself into the world's leading digital industrial company, and new data has revealed a potential 20 percent increase in performance for its customers. With the release of new software and products powered by Predix, GE is transferring its industrial domain and technology leadership to customers and paving the way for an industrial app economy worth more than $225 billion. "Industrial companies need to become digital to survive," said Jeff Immelt, Chairman and CEO of GE. "While the Internet has transformed consumer worth, industry has not yet seen its fair share. Industrial productivity, which averaged four percent per year from 1990-2010, has slowed to one percent in the last five years. We must turn information into insights and insights into outcomes. GE is leading the transformation as it merges the physical and digital worlds of machines and software. We built the world's first industrial-strength platform to enable developers to create apps that will deliver more value and superior outcomes for GE and our customers," Immelt continued. "By sharing core technologies among our businesses through the GE Store, we're able to spread our science and software capabilities widely and lead the development of the entire industry ecosystem." "Digital technologies and open source software have transformed the consumer space in radical ways, but industry has been slow to adopt these new innovations," said Bill Ruh, Chief Digital Officer of GE. "Now is the time to capitalize on the extraordinary opportunity to transform the industrial landscape by leveraging Predix to collectively build apps, which will reveal exponentially greater value than what we have seen in the consumer space." Industrial company CIOs will be executing this transformation. The role is quickly becoming the lynchpin for company speed and productivity. After decades of outsourcing and purchasing, GE envisions a future in which industrial IT professionals can chart their own future as app developers not software purchasers. PREDIX DRIVING BETTER BUSINESS RESULTS Among the new innovations announced today: GE unveiled its dedicated environment for industrial developers, Predix.io, which will lay the foundation for the world's first and largest marketplace for industrial applications. GE Predix, its developer portal and a select number of apps will be available in late 2015, increasing speed to market and enabling local development, global delivery and time-to-value for GE and its customers. GE is converging all software offerings on Predix and commercializing Predix-based operations to drive enterprise optimization and asset performance management (APM (News - Alert)), helping customers maximize productivity while ensuring product quality and sustainability. Announced today are a number of solutions and offerings powered by Predix that are enabling better business results:
INDUSTRIAL INTERNET GROWS AS PREDIX OPENS GE's Predix platform is now available externally, and customers such as Boeing (News - Alert), Columbia Pipeline Group and BP are already realizing benefits from this software. Now, any developer can experience Predix through the Predix.io developer portal. GE expects 20,000 developers will be on Predix in the next year. Ruh said: "There's an unprecedented market opportunity for developers to build services and apps that will transform industries. An industrial app economy is emerging and the opportunity to create world-changing innovations is endless." As the Industrial Internet continues to expand, GE is building an ecosystem of implementers, innovators and go-to-market channels through its Early Adopter Partner Program. The program is open to Independent Software Vendors looking to make software and apps powered by Predix, technology partners creating Predix-ready solutions, and integrators developing Predix-certified services. PTC and GE will bring to market a GE-branded manufacturing offering that leverages PTC's ThingWorx® Industrial Internet of Things application enablement environment with GE's manufacturing software portfolio. PREDIX EARLY ADOPTERS DRIVE INNOVATION Predix customers can take advantage of applications and services delivered by both GE and by a growing number of third parties. Through the Predix Early Adopter Partner Program, GE provides training and co-development support for businesses getting started with Predix. The program is open to Independent Software Vendors creating apps and services powered by Predix, technology partners creating Predix-ready devices and solutions, and systems integrators and consultants developing Predix-certified services. Early adopters include the following:
ACCELERATING STARTUP INNOVATION To help startup companies develop solutions on Predix and tap into the broader ecosystem, GE has launched the Predix Startup Accelerator program. Leveraging resources within GE and external experts across industrial domains, the program aims to build an ecosystem of software companies and provide them with the tools and guidance needed to innovate for the Industrial Internet. The first accelerator launched in Herzilya, Israel, and includes an inaugural class of four software startup companies. GE also announced that it will co-chair an Industrial IoT Special Interest Group as part of its participation in the Cloud Foundry Foundation, building on its investments in the Cloud Foundry open source community, which include the Industrial Cloud Foundry Dojo. CYBER SECURITY INNOVATION EXPANDED ACROSS PRODUCT LIFECYCLE GE is expanding its cyber security footprint by announcing plans to embed Wurldtech's cyber security solution into 4,000 gas, steam, wind and aero derivative turbines. "We understand the security needs of industry. We are leveraging decades of operational experience to protect critical infrastructure and deliver customized, adaptive security solutions for industrial operators and developers," said Paul Rogers, President & CEO of Wurldtech and General Manager of GE Industrial Cyber Security. NEW ENERGY COMPANY TO MERGE PHYSICAL, DIGITAL + FINANCIAL GE also unveiled plans to create an entirely new type of energy company that combines financing with GE's physical and digital capabilities across energy efficiency, generation and storage. The new organization will meet the unique needs of a wide range of Commercial & Industrial, utility, and municipal customers - hospitals, universities, retail stores, cities - and provide them with the hardware and software they need to be more reliable, more efficient and more profitable. Additional details will follow in the coming weeks. This business will begin with more than $1 billion of revenue and will leverage GE financing, putting it on track to quickly establish a leadership position in the fast-growth energy efficiency market. "GE is committed to lead as the industrial and digital worlds collide. We plan to generate outcomes alongside our customers," Immelt said. "A new day is upon us. Now is the time for industry." For more news and announcements from Minds + Machines 2015, visit http://www.gereports.com. About GE GE (NYSE: GE) is the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," through which each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.ge.com
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