GE Hiring Thousands of Engineers to Build Industrial Web to connect everything from jet engines to medical-imaging machines to the Web and help customers run equipment more efficiently.

GE Hiring Thousands of Engineers to Build Industrial Web

General Electric Co. (GE) is hiring thousands of engineers near San Francisco in a push to connect everything from jet engines to medical-imaging machines to the Web and help customers run equipment more efficiently.

“We’ve opened a software center in East Bay, hiring thousands of software engineers to basically bring all the great innovation you’ve seen in Silicon Valley now to industry,” Beth Comstock, chief marketing officer at GE, said at the Bloomberg Next Big Thing Summit in Half Moon Bay, California.Comstock said GE is developing an “industrial Internet,” building networks that harvest data from commercial machines and offering services to help customers analyze the resulting reams of information. The company said last year that it was investing $1 billion in a facility in San Ramon and hiring engineers from Oracle Corp. (ORCL), SAP AG (SAP) and Symantec Corp. (SYMC) as well as Stanford University and the University of California, Berkeley.

Chief Executive Officer Jeff Immelt has stressed the savings potential from using data to tweak machines, saying that even a 1 percent improvement in the operations of commercial aircraft would translate into $2 billion less per year in fuel costs for GE’s customers in the airline industry.

As Fairfield, Connecticut-based GE adds sensors to jet engines, the next step is to help customers analyze all the resulting data, Comstock said.

“We probably haven’t seen anything yet when it comes to data when machines start talking to machines and machines start talking to people,” Comstock said. “We have to make sense of it.”

To contact the reporter on this story: Callie Bost in New York at cbost2@bloomberg.net

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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