Big Industry Trends
The industrial world is undergoing a seismic shift in productivity and efficiency as machines become increasingly intelligent. This shift will result in the creation of an Industrial Internet that will have the same transformative effect as the consumer internet. Intelligence is brought about through innovative sensor technology, machine to machine connectivity, new approaches to automation, and most importantly software that gives insight to people in real-time. This seismic shift to what one venture capitalist has dubbed: 'software eating the world', will require more and more companies to make strategic decisions on their willingness to invest resources and take the risks to capture this increasingly valuable part of the value-chain.
We see companies in the automotive industry doing this already as they are no longer satisfied to simply move people from point A to point B as a manufacturer of cars. Instead they want to capture the software value inherent in the transformation of today's vehicles into entertainment, navigation, and social systems.
The big question for companies that want to win and survive in today's economy is: do you focus on existing products and business models or do you create new integrated hardware/software solutions and services that is greater than the sum of the individual parts. This talk will explore the notion of the Industrial Internet, emerging business opportunities and GE's strategic decision to focus on software and analytic-based services.