General Electric Company (NYSE:GE) announced the GE Digital Alliance Program, the first ever dedicated to growing the digital industrial ecosystem. This new alliance program is designed to connect systems integrators, telecommunications service providers, independent software vendors, technology providers and resellers with the technology and digital industrial expertise of GE. For the first time, GE alliance members will be able to train and certify their developers and begin building industrial apps with Predix, GE’s cloud platform for the Industrial Internet.
The program will also offer participants access to sales, marketing and technical resources from across GE Digital, as well as digital tools, training and enablement, online content and assets, Predix certification, developer sandboxes, joint deal registration and specific benefits based upon contribution level. This move brings Predix to the world’s largest developer ecosystem, unlocking new applications for the Industrial Internet.
“With the launch of the GE Digital Alliance Program, we are providing these alliance members with expanded access to GE Digital tools, technologies and domain expertise,” said Denzil Samuels, Head of Global Channels and Alliances, GE Digital. “The new alliance program is also designed to take us to the size and scale required to truly drive unprecedented growth, as well as certifying thousands of developers, implementers and consultants to give us the largest ecosystem of qualified technical capacity. We are excited to work closely with some of the most forward-thinking companies in technology to unlock unprecedented value for our customers.”
As part of the GE Digital Alliance Program, GE also unveiled new collaborations with Intel, Capgemini, TCS, Deloitte Digital, Infosys, Genpact, Softtek and Wipro Limited.
- Intel and GE are forming a global strategic alliance to combine the power of Predix with Intel computing platforms and the world’s largest developer ecosystem. This alliance will bring jointly developed technologies to industries such as Intelligent Cities, Brilliant Manufacturing and healthcare. The move will produce a world-class products and solutions offering for industrial and commercial customers across the globe, unlocking tremendous economic opportunities for both companies.
“Intel and GE have been working on IoT standards and initiatives for several years to accelerate deployment, and those efforts are now paying off,” stated Doug Davis, senior vice president and general manager of IoT at Intel. “There are proven pilots moving to full deployment and formalized programs like the GE Digital Alliance Program are helping companies realize the value of the IoT.”
- Capgemini and GE plan to accelerate growth for both companies globally. With GE’s Current, they intend for 200 developers to develop Predix software solutions, helping customers reduce power levels, generate power onsite, and drive new revenue streams through the use of sensors and networked systems in buildings and cities.
“As an early adopter of Predix, Capgemini supports GE Digital’s vision and plans to spark innovation to transform companies and industries,” said Tim Bridges, CEO of Application Services, North America, for Capgemini. “Our customers have a deep interest in embracing analytic and intelligent solutions to benefit from the limitless opportunities in the Industrial Internet world.”
- TCS and GE will work together to create an innovative industry solutions ecosystem by leveraging TCS’ comprehensive business and digital expertise to enrich GE’s Predix platform. TCS has already developed new IoT solutions on Predix, such as Satellite Image Analytics, Supply Chain Monitoring, Prognostic Maintenance and Engine Telematics. Moreover, TCS has the largest pool of Predix trained experts and plans to ramp up an additional 1,000 developers in 2016. TCS is significantly expanding its global team to support the unprecedented growth in the Industrial Internet.
”TCS endeavors to digitally reimagine its customers business through innovative solutions,” said Anupam Singhal, vice president, Tata Consultancy Services. “We see great opportunities in leveraging our global industry expertise and assets, enriching GE’s Predix platform to drive favorable business outcomes for customers.”
- Deloitte Digital and GE intend to work together to drive digital industrial transformation for mutual clients, leveraging GE Digital’s Industrial Internet products and vision along with Deloitte Digital’s proven strategic digital transformation experience and value delivery approach. A creative digital consultancy within Deloitte Consulting LLP, Deloitte Digital provides clients with a full-service solution for their business needs, combining strategically-driven creative solutions infused with business processes to enable delivery of comprehensive end-to-end offerings.
- Infosys, as an early adopter of the Predix platform, has partnered with GE to deliver a range of services to customers – including Industrial Internet solutions for manufacturing, aviation, transportation and healthcare. The company has more than 100 technical staff trained on Predix development and plans to train an additional 500 developers on the platform in 2016, in addition to establishing Predix training for customers. This partnership will foster co-innovation of new applications with advanced concepts in digital twin, brilliant factory and AI. Predix reference solutions and an industrial version of its Aikido service offering will help manufacturers and other industrial enterprises simplify, automate and transform their businesses.
- Genpact and GE join forces to create an end-to-end offering and joint go-to-market model to help clients transform through accelerated Industrial Internet adoption. As a GE spin-off, Genpact brings deep understanding of the industry domain and combines that with Data-to-Insight-to-Action analyticsSM, engineering and technology, along with its Lean DigitalSMapproach to reimagine the Industrial Internet processes and systems to generate unparalleled business impact.
- Softtek and GE will work together to drive increased efficiency and optimization for the Industrial Internet globally. “Softtek is proud to join the GE Digital Alliance Program,” said Beni Lopez, Chief Globalization Officer at Softtek. “This partnership will leverage Softtek’s global industrial and digital expertise to provide development and implementation services for GE Digital solutions. Softtek has developed several applications powered by Predix for water treatment calculations, asset monitoring and customer issue tracking to enable customers with improved visibility and analytics.”
- Wipro and GE will join forces to create an industrial team of factory practitioners and technical experts to help accelerate the adoption of the Predix platform in the industrial marketplace. With a partnership history that goes back several decades, the two companies will build the most relevant set of industrial apps and integration templates to deliver the promise of cloud, analytics and mobility for manufacturing customers worldwide.
GE Digital also provided updates on existing agreements, now joining the newly formed Digital Alliance Program.
- Accenture and GE jointly deployed the Intelligent Pipeline Solution, a breakthrough software solution that helps pipeline operators make informed decisions around pipeline safety and integrity. Columbia Pipeline Group is the first customer to utilize this technology across its 15,000-mile interstate pipeline network.
“Predix is a key platform in the IIoT ecosystem, and we are seeing it demonstrate value through innovative offerings such as the Intelligent Pipeline Solution,” said Paul Daugherty, chief technology officer, Accenture. “The new GE Digital Alliance Program will enable us to open up even more opportunities for clients worldwide who are looking at ways to benefit from the IIoT.”
- Softbank Corporation (SoftBank) and GE introduced an Industrial Internet solution for LIXIL Total Service Co., Ltd, a subsidiary of LIXIL Corporation (LIXIL), which optimized the installer-arrangement for the home bathroom installation business, powered by Predix. SoftBank, Japanese service provider and Internet giant, became GE’s first strategic global partner to license the Predix platform in 2014. LIXIL is the first customer to benefit from this alliance.
- AT&T, Verizon and Vodafone with GE are more securely connecting smart cities, railways and manufacturing plants to the Predix cloud. All three service providers are also Predix Connectivity-as-a-Service collaborators.
- Cisco: “Cisco and GE continue to drive value for customers by delivering joint solutions based on the Predix platform and Cisco’s IoT-ready joint infrastructure and solutions,” said Tony Shakib, VP IoT Vertical Solutions, Cisco. “As digital industrial partners, the companies will introduce Predix-ready appliances integrated into Cisco’s IoT compute platform, as well industry-specific solutions like the brilliant factory offering.”
The exchange of knowledge, technology and resources available through the GE Digital Alliance Program will be facilitated through GE’s growing network of Digital Foundries located around the world, the first to open in Paris. This is another step in GE’s move to bring the Predix platform to the global developer community and grow the Industrial Internet ecosystem at large. (Original Source)
Shares of General Electric closed last Friday at $29.02. GE has a 1-year high of $31.49 and a 1-year low of $19.37. The stock’s 50-day moving average is $28.70 and its 200-day moving average is $27.91.
On the ratings front, General Electric has been the subject of a number of recent research reports. In a report issued on January 26, Oppenheimer analyst Christopher Glynn reiterated a Hold rating on GE. Separately, on January 25, William Blair’s Nicholas Heymann reiterated a Buy rating on the stock and has a price target of $38.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Christopher Glynn and Nicholas Heymann have a total average return of 13.5% and 1.7% respectively. Glynn has a success rate of 71.0% and is ranked #1 out of 3637 analysts, while Heymann has a success rate of 52.9% and is ranked #1461.
Overall, 3 research analysts have assigned a Hold rating and 8 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $32.40 which is 11.6% above where the stock closed last Friday.