GE plans on capitalizing on IoT for improved industrial efficiency.

According to an executive from General Electric, the company is set to make a savings of $500 million in 2016 by using industrial internet applications.

During a press conference in Shanghai, wherein General Electric plans on partnering with Huawei Technology in order to develop industrial internet strategies, Bill Ruh, GE’s Chief Digital Officer made these comments.

GE is the world’s biggest manufacturer of diesel locomotives and jet engines. It wants to connect machines to the internet, produce data which can be analysed for bring about improved productivity, a reduction in emissions and lower fuel costs.

Incidentally, General Electric has also launched a digital space in Shanghai, wherein it plans on incubating new startups and have developers code new apps.

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Tags: Top, General Electric, GE, IoT, industrial application, Huawei, diesel engines, jet engines, manufacturer,