Will Industrial Internet create more jobs? GE thinks yes.

The ongoing trend of digitization and connectedness has finally entered the industrial sector and that is about squeeze out inefficiencies from the manufacturing and industrial processes. That will not only lead to more productivity, but will also lead to creation of a new jobs, according to The Industrial Internet@Work, a new report from GE written by GE Chief Economist Marco Annunziata and GE’s Director of Global Strategy and Analytics, Peter C. Evans.

GE’s idea of Industrial Internet is a marriage of data (much of it coming from machines) and analytics coming from their connected machines. The argument is that while GE and manufacturers have pushed the material and physical sciences for their products, connectivity, data and the ability to analyze that data into actionable information is the next way forward to make industries more efficient. And creating a more responsive and nimble workforce that is in tune with these changes is the next step. The report authors argue that industries such as power, aviation, railways and healthcare (four areas in which GE is a dominant force), the digitization allows the businesses to become more realtime which in turn transforms how the workforce responds to the needs of the businesses. Maintenance crews don’t have to work on a rigid time schedule but instead be more nimble and responsive in-tune with the data and information coming out of the machines that are part of the new industrial internet.