Why GE is building an open industrial Internet platform

The Internet of Things is a big buzzword in consumer electronics today. General Electric has taken the concept and adapted it to the big iron and steel machines it manufactures, creating an "industrial Internet."

Deb Frodl, GE's global executive director of Ecomagination, talked with GreenBiz's Joel Makower about GE's platform at VERGE 2014 in San Francisco. The GE platform, Frodl said, is an operating system called Predix.

"It's a new frontier for natural resource productivity," Frodl said. "Natural resource demand is outstripping the supply in many regions of the world."

Predix is a software platform that allows customers to monitor heavy machinery for efficiency and maintenance requirements, Frodl explained.The company created over 1,000 jobs to help build the platform. Frodl also said that GE plans on making Predix an open platform, so developers can create added value for specialized applications.

"We believe that the more connectivity [goes] into the platform, the more value it brings to the customers," she said. "We can't do it alone. We have to do it with partners along the way."