General Electric has unveiled new industrial applications that aim to advance the digital capabilities of its industrial customers.

The industrial giant also launched a new business unit called Avitas Systems that will use predictive data analytics, robotics and artificial intelligence (AI) to deliver advanced inspection services to the oil and gas, transportation and energy industries.

During the company’s Minds + Machines event in Berlin, GE unveiled solutions that are purpose built for industrial assets, environments and operations. GE Digital said their integrated solution would deliver the industrial service model of the future that combines the power of recent acquisition ServiceMax, its cloud-based field service management (FSM) solution, with its intelligent Asset Performance Management (APM) portfolio.

Available in late 2017, the combination of ServiceMax + APM will enable industrial companies to transform how they predict, manage and service the entire asset lifecycle, GE said.

The company said transformation of the current industrial service model is a critical element of the digital industrial journey and most companies today lack the ability to combine insights from data with actions in real time when managing and servicing assets. This contributes to unplanned downtime, which has significant impact on industrial productivity.

To reduce cost and eliminate downtime, it is critical for asset-intensive industries to shift from a reactive, break/fix service model to a predictive model, GE said.

General Electrics said their ServiceMax, APM combo was designed to do just that.

“The Industrial Internet is enabling companies to take advantage of possibilities that previously seemed out of reach. But in many ways, we are still in the early stages of this transformation journey as companies seek to move from gaining insight to taking action and as automation gives way to autonomous systems,” said Bill Ruh, CEO, GE Digital.

“GE Digital is helping companies use technology and information to transform how they operate and create new possibilities – from delivering the industrial service model of the future to creating entirely new business models.”

As companies accelerate digital transformation through the combination of GE Digital’s APM and ServiceMax offerings, they can more proactively manage the entire asset lifecycle, increasing productivity and operational efficiencies that can open the door to future business growth, GE said.

Data analytics, robotics & AI

GE Ventures also launched Avitas Systems, a new data-driven company that will use predictive data analytics, robotics and artificial intelligence (AI) to deliver advanced inspection services to the oil and gas, transportation and energy industries.

“The inspection services industry requires cutting-edge technologies to avoid unplanned asset downtime and deliver new, valuable insights,” said Alex Tepper, Managing Director of Avitas Systems. “We deploy state-of-the-art robotics and cloud-based technology to give customers the customised service and insights-based data they need to advance from reactive to predictive repair – no matter where their assets are located.”

GE estimates that service transformation represents a $40 billion market opportunity. With ServiceMax + APM and Avitas Systems, GE is helping industrial companies manage, optimise and gain insight into their assets across each stage of the lifecycle.

GE said together these solutions and deployments advance GE’s vision for the Industrial Internet with a portfolio designed to accelerate customers’ transformation journeys and create new paths to growth for customers of every size and scale.

Previous post

Tech giants pose a looming threat to big banks: Study

Next post

AI-powered CRM to drive $19 billion in Australian revenue by 2021: IDC

Join the digital transformation discussion and sign up for the Which-50 Irregular Insights newsletter.