A marriage of machines, data and humans – the industrial internet explained
- Technical innovations of the industrial internet could find direct application in sectors accounting for more than US$32.3 trillion in economic activity
- The number of global IoT devices is expected to reach 7 billion this year and grow to 22 billion by 2025
Shoppers grab grocery items from store shelves and the charges are automatically debited to their payment accounts as they walk out. An aeroplane engine component sends an alert to the technician when it requires maintenance. Machines on production lines provide real-time data to identify unused capacity in the factory.
These applications of technology are all made possible with the industrial internet, a connected network of machines, data and humans. Here’s what you need to know about it.
What is the industrial internet?
The term “industrial internet” was coined by US conglomerate General Electric (GE) in late 2012 to describe the network of industrial devices connected by sensors and communications tools that enables intelligent machines to “talk” to each other, and better monitor, collect, communicate and analyse data.
It links together three key elements – intelligent machines, advanced analytics, and people at work – to achieve higher levels of efficiency, productivity, and performance through the internet-of-Things (IoT).
China broadens the boundaries of the concept from industrial companies to all trades, including retailers and service providers.
