EY and GE Digital Align in Industrial IoT

Ernst and Young and GE Digital, a unit of General Electric Company

disclosed a fresh alliance to create and offer Industrial Internet of Things (IIoT) services to support industrial companies achieve higher productivity from capital assets and processes linked in the cloud. EY and GE Digital said that they would develop and deliver industry-specific services based on GE's Predix cloud-based operating system. The two firms indicated that the services could help firms reduce down their operating expenses while increasing revenue growth through improved machine uptime and streamlined industrial workflows. EY has been working with GE for over 10 years. It now joins GE's ecosystem of global alliance partners, providing its members access to digital tools and domain expertise from across GE. Ernst and Young would offer its extensive experience in business transformation; IoT, data analytics and IT cybersecurity capabilities; and access to global resources across multiple industries. IDC's Co-Lead – European IoT practice, Lionel Lamy, commented, "Within the global economy, CxOs face tough challenges: the unrelenting pressure to do more with less and optimize performance whilst controlling costs, as well as the need to innovate. They must get more from their fixed assets, improve capital ROI and optimize the productivity and value of their increasingly mobile and demanding workforce." Lamy continued to say that "The Internet of Things helps address these issues, but as a complex and fast-moving market, partnerships must be formed to ensure a holistic, end-to-end approach. This 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." The stock traded 0.82 percent down on Wednesday.