Boston, MA, 03/31/2014 (usastockreports)- Cisco Systems Inc. (NASDAQ:CSCO) and four other IT giants, AT&T Inc. (NYSE:T), General Electric Company (NYSE:GE), International Business Machines Corp. (NYSE:IBM) and Intel Corporation (NASDAQ:INTC) have come together at one platform and formed the Industrial Internet Consortium (IIC). The consortium is aimed to encash the internet revolution and will help organization and mankind in many ways as the Industrial revolution did. The industrial internet is the next frontier as it integrates the physical with the digital to forecast, monitor and create systems that gives us better results. As of today only 1% of the things in the digital world remain connected.
With the help of Industrial internet, corporate will shift from responding to events and instead the attention will be shifted to forecast and plan the connected machines, huge data and data visualization. The analysis that comes will be used by Cisco Systems Inc. (NASDAQ:CSCO). It will provide increase in industrial productivity and overall profit and societal outcomes.
The core point is if the Industrial Internet attains a mere 1% process efficiency, it will result in saving billions in every industry. Means if 1% improvement if fuel saving efficiency in aviation industry will save $2 billion in a year. When it comes to helping humanity in the health care system it will be able to save thousands of life with the integration of monitoring equipments and prediction on the basis of monitoring.
Health Care Benefits
Today, basic medical equipments like oxygen meters and respiratory monitors, functions in silos. In the future, there will be connection between and these and any other devices. It will give the best outcome for the patients and more life would be saved both in hospital and far distant locations. It can be also utilized in the area of potable water, energy, electricity.
As founding members these companies will be permanent member of the elected IIC Steering Committee along with four other elected members. This is a very started by the Cisco Systems Inc. (NASDAQ:CSCO) along with other companies. We hope it will have the same effect as was the Industrial revolution in the mankind.