The Internet of Things (IoT) is an industry-wide term for connected and smart devices within a network of connectivity that allows them to collect and exchange data.
A new and not-so-understood concept, being dubbed the “internet of power” by Forbes, is applying the use of big data, machine learning and IoT technology to replace the one-way, current model of energy delivery.
GE Power, that supplies 30-percent of the world’s electricity, has been developing this opportunity in an effort to revolutionize the electricity industry.
“The electricity industry is still following a one-hundred-year-old model which our founder, Edison, helped to proliferate,” said Chief Digital Officer at GE Power Ganesh Bell in Forbes.
Bell believes that can change, and that the answer is to take advantage of the current grid-based generation and delivery mechanism, increasing it with the flow of data.
This will take that linear model and move it to a networked model; taking every electron, associating it with a data bit, and optimizing it.
Creating this new system of “smart” energy distribution will pave the way for innovative structures in the future such as a reliable network of energy for charging stations, aiding society in the move away from fossil fuels.
This adoption of IoT technology will transform the power industry to a $1.3 trillion field within the next 10 years, according to Forbes.
Join us in Chicago on April 10th for Digital Day to learn more about the digital, industrial transformation and connect with top thought leaders from companies like Johnson & Johnson, Gray Matter, GE and more.
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The facility has made a huge transformation from being a food packaging plant into being one of GE’s first seven high-tech “brilliant” factories.
Gray Matter, through a partnership with GE, has helped implement advanced technology such as sensors that allow workers to measure and see real-time data at a glance. This improves reliability, has reduced downtime by 10 to 20-percent and boosts productivity.
The Grove City plant refurbishes diesel engines, taking old engines and give them life again.
This used to require works to manually tighten bolts in a repetitive motion by hand, using machines weighing in at 40-pounds on 41,000-pound engines, according to the Pittsburgh Post-Gazette.
This new technology allowed them to have an automated way to uniformly tighten the bolts in a sequence, preventing possible injury to the workers and creating a standard for all of the bolts.
It also gives plant managers the ability to call up data on a tablet or smart phone rather than touring plant operations on foot, allowing them to address problems sooner and supervise workers remotely.
Join Gray Matter on April 18th for our Toronto Seminar and learn more about digital innovations in manufacturing, water and energy.
Connect with leaders from companies such as GE Digital, CyberX, Eramosa and more for a full day of discussion, followed by an optional Blue Jays v. Red Sox game.
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GE Water put out on social this week a piece written by Steve Davis, a business development leader at GE Power, Water & Process Technologies.
It discusses the problems of the world of water and how the solutions lie within industry partnerships.
According to Davis, there is no single company in the water industry that can provide connectivity, platform, software and analytics all in one.
The solutions to these problems are exist, however are still in their infancy and fragmented.
By uniting experts within the industry, a combined commercial effort is created through a mutually beneficial relationship.
By connecting top industry thought leaders, the partnerships cultivate into innovative ideas that can excel the industry and pace of the digital revolution. It simplifies data integration, and takes away the once overwhelming feeling for customers by interconnecting platforms.
New technologies are giving people hope that they can achieve better standards of living, and Gray Matter is helping to lead the way in the water evolution.
Download our white paper Water Innovations Create Better Living to read real customer success stories of increased efficiency and profits through innovative technology.
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