There is likely to be plenty of investment the area in future. As IoT continues to take hold, GE claims that investment in the infrastructure will swell to $60 trillion in the next five years.
Whether it can transform itself into a full on cloud provider remains to be seen however.
It will make it easier for firms to make sense of huge volumes of IoT data
GE said that the Predix Cloud will enable operators to use machine data faster and more efficiently, claiming this will save firms "billions of dollars annually."
By combining growing information technology (IT) expertise with knowledge of operational technology (OT) deliver asset connectivity, GE claims its cloud service will offer advanced tools like asset connectivity, machine data support and industrial-grade security and compliance, it says.
Harel Kodesh, general manager of Predix at GE Software commented that Predix is a cloud "built exclusively to capture and analyse machine data will make unforeseen problems and missed opportunities increasingly a complication of the past".
Cloud service will be a target for hackers
However, the clearest risk is around security.
GE has been keen to talk up its security credentials. And this will be a major point for the firm: as a repository of industrial sensor data, the Predix Cloud will be treasure trove of sensitive information that is likely to attract hackers.
With this in mind, GE has pointed out that its cloud was designed with advanced security protocols, including customised, adaptive security solutions for industrial operators and developers.
The cloud will be part of a 'gated community', GE says. This means that occupiers of its multi-tenant platform will only be from the industrial industry sectors.
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