After years of rebranding itself as a “digital” company, General Electric is returning to being a plain old $100-billion industrial giant that builds aircraft engines and equipment for the energy industry.
According to the New York Times, GE spent “several billion dollars” building its digital business, with former CEO Geoff Immelt telling the Harvard Business Review that the company “put about $4 billion into developing analytics software and machine learning capabilities”.
The idea seemed to have been, and still may be, to provide the equivalent of an operating system for machinery and equipment which are connected to the industrial internet of things, and, in the process, become one of the top 10 software companies in the world. [Read more…] about General Electric: An industrial giant learning to live in a small world