General Electric (GE) plans to boost global GDP by $10-$15
trillion by the year 2020. One of the drivers behind this growth would be what
it calls the "Industrial Internet." The term refers to the
integration of complex physical machinery with networked sensors and software.
In order to accelerate this, General Electric has also teamed up with Cisco's
(CSCO) "Internet Of Everything" and it launched 14 new products to
bolster its Industrial Internet segment. In addition, GE has existing
partnerships with Amazon's Amazon Web Services, Accenture, and Pivotal,
supported by IBM.
If we look at the healthcare industry in the U.S. as an example, it was worth 17.5% of GDP in 2010. Healthcare analysts estimate that as much as 43% expenditure went towards unnecessary procedures and administrative wastes. Read more.
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