IoT is rapidly spinning out to larger uses in industries old and new. Some that have operated on the same fundamentals for decades are now looking at major changes enabled by digitized innovation. Some contend that industries will see improvements from operations to economics.

Greg Petroff, Chief Experience Officer at GE Software and executive director of platform evangelism for GE Predix, said that what Predix represents is “cloud all the way to the edge.” He told Jeff Frick (@JeffFrick), cohost of theCUBE, from the SiliconANGLE Media team, during the GE Predix Transform event that interoperability and the desire to see their operations on a single pane of glass are big concerns for their customers. To that end, he said, “Predix has a bunch of APIs that allow you to ingest data from different control systems.”

Raising your asset IQ

Petroff stated that every asset has a past and a present, and that is typically all industries have had to base decisions on. Now, with what’s called digital twins (a software model of a physical entity), they can get insight into their assets’ futures.

He said that Predix (GE’s industrial operating system) can use its tools to say to customers, “Based on the way you operate it in the construct of its location and its behavior, here’s what we predict is going to happen to it in the future based on the way you’re going to operate it.”

Petroff went on to say that organizations should imagine arbitraging their assets. What if they run their systems really hard even if it might not be good for them? “If I know exactly how bad it will be, I can measure that against the economic opportunity that I have, and I can make a business decision,” he explained.

Watch the full interview below, and be sure to check out more of SiliconANGLE and theCUBE’s coverage of GE Predix Transform 2016.

Photo by SiliconANGLE