EY and GE Digital have announced a new strategic alliance to develop and provide Industrial Internet of Things (IIoT) services to help industrial companies achieve increased productivity from capital assets and processes linked in the cloud.
EY and GE Digital will develop and deliver industry-specific services based on GE's Predix cloud-based operating system. The services can help companies reduce operating expenses and increase revenue through improved machine uptime and streamlined industrial workflows.
EY, which has been working with GE for more than 10 years, joins GE's ecosystem of global alliance partners, which gives members access to digital tools and domain expertise from across GE. EY will provide its extensive experience in business transformation; IoT, data analytics and IT cybersecurity capabilities; and access to global resources across multiple industries.
Lionel Lamy , Associate Vice-President, Co-Lead ‒ European IoT Practice, IDC, notes that the alliance, combining GE Digital's Industrial IoT technologies with EY's IoT experience confirms the vital role of collaboration and strategic relationships. “Bringing data analytics and cloud capabilities to co-create services to help companies use their data to realize significant gains in workflows and productivity will go a long way to address key business challenges.”
"With GE Digital, we'll help industrial companies not only improve productivity of their existing assets, but also help them to fundamentally reshape their enterprises,” says Carmine Di Sibio , EY Global Managing Partner ‒ Client Service.
In the oil and gas industry, producers can use the IIoT to develop maintenance schedules that improve oil rig uptime, reduce the number of times workers must travel to maintain rigs and identify the tools and parts they need to take with them.
In other industries, like hospitality, the IIoT can help a hotel system "know" when to block availability of a room because the plumbing requires maintenance.
Bill Ruh , Senior Vice President and Chief Digital Officer, GE and CEO, GE Digital , says: "Together, we are co-developing solutions on Predix that will combine GE's industrial domain expertise with EY's innovative approaches to addressing complex business challenges to uncover creative ways to increase productivity and efficiency for our customers through data and analytics.”
Jeff Liu , EY Leader for the GE alliance, and EY Global Sector Head, Technology, adds: "With data and digital technology impacting every industry, businesses are under tremendous pressure to adapt in almost real time. Our expanded relationship with GE and approach to digital operations will enable us to bring innovative IIoT services to market to help clients dramatically improve productivity, reduce cost and increase revenues."