Gen­eral Elec­tric pioneers dig­i­tal trans­for­ma­tion

The Korea Times - - BUSINESS - By Lee Hyo-sik leehs@ktimes.com

Gen­eral Elec­tric (GE) has trans­formed it­self into the world’s first dig­i­tal in­dus­trial com­pany by ac­tively em­brac­ing soft­ware, data and an­a­lyt­ics, urg­ing its Korean part­ners to do the same to re­main as com­pet­i­tive global play­ers.

Bill Ruh, chief dig­i­tal of­fi­cer of GE and CEO of GE Dig­i­tal, said there is a lot of po­ten­tial in in­dus­trial com­pa­nies in Korea and some of them are al­ready seek­ing new op­por­tu­ni­ties through their part­ner­ships with GE.

“The Korean mar­ket is mov­ing fast and many in­dus­trial com­pa­nies, es­pe­cially those work­ing with GE, are early adopters,” Ruh said in a key­note speech dur­ing the GE In­no­va­tion Fo­rum 2017 Live at the In­cheon Hy­att Ho­tel, Aug. 25.

“It is crit­i­cal for com­pa­nies to have a pur­pose-built soft­ware plat­form to max­i­mize pro­duc­tiv­ity growth by mov­ing away from tra­di­tional busi­ness com­put­ing plat­forms.”

The fo­rum, which was held this year un­der the theme of In­dus­trial Pro­duc­tiv­ity Growth through Dig­i­tal Trans­for­ma­tion in Korea, is a thought lead­er­ship fo­rum to ex­plore new ideas and in­sights with Korean part­ners, con­tribut­ing to sus­tain­able growth and com­pet­i­tive­ness en­hance­ment of Korean in­dus­tries.

Since 2015, a num­ber of in­flu- en­tial global busi­ness, in­dus­try, and aca­demic lead­ers, in­clud­ing for­mer GE Chair­man Jeff Im­melt, were invited to share in­sights on in­dus­try’s latest trends and in­no­va­tion agen­das.

This time, Ruh and Lim Chai-sung, chair­man of the Korea In­dus­try 4.0 As­so­ci­a­tion, shared their in­sights on the im­por­tance of be­com­ing dig­i­tally in­dus­trial by pin­point­ing how far dig­i­tal trans­for­ma­tion has come in Korea’s man­u­fac­tur­ing, key chal­lenges to ad­dress and the next steps to take the lead in the era of the Fourth In­dus­trial Revo­lu­tion.

Dur­ing his speech, Ruh in­tro­duced GE’s Predix, a plat­form for in­dus­trial in­ter­net, con­nect­ing ma­chines, data and peo­ple to power the dig­i­tal in­dus­trial com­pa­nies of the future, and Predix-pow­ered soft­ware. He em­pha­sized the need for a shift from in­for­ma­tion tech­nol­ogy to dig­i­tal tech­nol­ogy.

He also ex­ten­sively dealt with the idea of “GE for GE,” which is build­ing new ap­pli­ca­tions around the prod­ucts to de­liver greater ef­fi­ciency in­ter­nally.

In ad­di­tion, Lim pre­sented some of the key chal­lenges that Korean com­pa­nies have been fac­ing in the era of the Fourth In­dus­trial Revo­lu­tion. He also urged the im­por­tance of col­lab­o­rat­ing with global com­pa­nies such as GE to build a dig­i­tal in­dus­trial ecosys­tem.

Cour­tesy of GE Korea

Bill Ruh, CEO of GE Dig­i­tal, speaks dur­ing the GE In­no­va­tion Fo­rum 2017 at the Grand Hy­att In­cheon near In­cheon In­ter­na­tional Air­port, Aug. 25. GE has been a pioneer in the dig­i­ti­za­tion of the in­dus­trial world by em­brac­ing soft­ware, data and an­a­lyt­ics as the driv­ing forces of trans- form­ing it­self into the world’s first dig­i­tal in­dus­trial com­pany.

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