A global partnership agreement has been signed by Reliance Industries Limited (RIL) with US-based multinational conglomerate GE to work jointly in the Industrial Internet of Things (IoT) space by building applications for GE’s Predix platform.
Predix is a cloud-based platform that helps industries build apps and IoT uses the connected-devices technologies in manufacturing.
The partnership between RIL and GE will provide industrial IoT solutions to customers in industries such as oil and gas, fertilisers, power, healthcare and telecom.
“GE will provide its Predix cloud offering, industrial internet applications and data science expertise. RIL will develop solutions on Predix as an independent software vendor (ISV), bringing to bear its over 30 years of data, process and operational expertise,” RIL said in a press statement.
As part of the deal, RIL will offer nationwide 4G connectivity infrastructure to customers through its telecom venture Reliance Jio Infocom while GE will offer the security and monitoring aspects of the platform to RIL and its customers.
“The potential for other revenue streams includes telecom, healthcare and agriculture,” RIL said. “India needs to rapidly move to the next level of smart manufacturing which leverages big data, algorithms, and sensor technology. The presence of ubiquitous high bandwidth connectivity and cloud services enabled by Jio will be a key enabler for the rapid growth of industrial IoT within India,” said Mukesh Ambani, Chairman and Mnaging Director, RIL.
This will benefit the customers directly by driving operational inefficiencies, profitability to the company and new revenue streams by making use of data and analytics.
“The partnership with Reliance Industries will shape the future of the industrial internet not just in India but globally. The possibilities that it opens to develop solutions on our Predix platform for the industrial sector are endless,” said Jeff Immelt, Chairman and Chief Executive of GE.