Interesting to see the white paper jointly co-authored by GE suggesting application of digital technology could save over $80 billion in fuel costs – a focus we are seeing heavily in the industrials and energy sector for 2017. Traditional business models will be radically affected as new ways of doing business take off. These changes have some common legal and contractual threads - data is the new gold, security will be critical and IP protection and digital rights management will become the norm in manufacturing.
A white paper co-authored by General Electric (GE) and Intel estimates that digital efficiency applications have the potential to help industry save $81bn per year in fuel costs. The research, details of which were unveiled at World Future Energy Summit (WFES) 2017 in Abu Dhabi, also claims that industrial internet programmes could close the global carbon gap by almost 30% – a reduction of 823Mt of carbon emissions per year, equivalent to removing 174 million cars from the roads.Tools such as embedded sensors, data analytics, and connected platforms are helping companies to boost productivity and reduce environmental emissions, according to the white paper’s authors.