{"id":1602,"date":"2016-11-15T18:44:24","date_gmt":"2016-11-15T18:44:24","guid":{"rendered":"http:\/\/www.rsoftsolution.com\/blog\/ge-acquires-wise-io-to-deepen-its-machine-learning-stack.html"},"modified":"2016-11-15T18:44:24","modified_gmt":"2016-11-15T18:44:24","slug":"ge-acquires-wise-io-to-deepen-its-machine-learning-stack","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/ge-acquires-wise-io-to-deepen-its-machine-learning-stack.html","title":{"rendered":"GE acquires Wise.io to deepen its machine learning stack"},"content":{"rendered":"


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GE Digital<\/a> today announced that it has acquired Wise.io<\/a>, a machine-learning powered service that helps businesses find patterns and trends in their vast data stores. At first glance, that may seem like an odd acquisition for a company like GE. It\u2019s important to keep in mind, though, that with Predix<\/a>, GE already offers its customers a service that focuses on helping them monitor their equipment, whether that\u2019s an industrial tool or an aircraft engine, and predict issues based on the monitoring data.<\/p>\n

As GE CIO Jim Fowler told me, the company\u2019s developers wrote a few hundred different models for lots of different assets in Predix. The service has some rudimentary AI capabilities, but the addition of Wise.io\u2019s technology \u2014 which can find patterns on its own \u2014 and its team will allow GE to offer a far more flexible model. \u201cAs we think about services going forward, you\u2019ll see GE enter verticals we haven\u2019t been in before,\u201d Fowler told me.<\/p>\n

\"2hf4wuyu_400x400\"<\/a>In many ways, GE itself is undergoing the kind of digital transformation that many of its own customers are dealing with. It\u2019s undergoing what Fowler called a \u201cnew industrial revolution,\u201d where it has to reposition itself to play in the field of analytics, data, machine learning, etc. To keep pace, the company\u00a0has been making a number of acquisitions. These include the purchase of ServiceMax<\/a> for almost $1 billion yesterday and Wise.io today (as well as the rather quiet acquisition\u00a0of data integration platform\u00a0Bit Stew <\/a>earlier this year).<\/p>\n

GE and Wise.io did not disclose the acquisition price. Wise.io previously raised $3.58 million. The company also participated in the Alchemist Accelerator and Citrix Startup Accelerator programs.<\/p>\n

Wise.io will continue to operate as usual and GE will continue to service its existing customers. While the company is mostly buying Wise.io for its technology and talent, this also means it\u2019s getting access to quite a few Wise.io customers who\u00a0probably never considered GE as a vendor. Wise.io\u2019s users currently include the likes of Pinterest, Twilio, Thumbtack and Republic Wireless.<\/p>\n

GE expects\u00a0that software will bring in $15 billion\u00a0in revenue by 2020 (I wonder if it used Predix to set that number\u2026). The vast majority of this ($10 billion) will likely come from existing customers, $1 billion will come from the efficiencies it hopes to gain by driving internal usage of technologies like Wise.io and it expects that $4 billion will come from new customers.<\/p>\n

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Featured Image: YASUYOSHI CHIBA\/Getty Images<\/small><\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/ZRP7dizbiV8\/<\/p>","protected":false},"excerpt":{"rendered":"

GE Digital today announced that it has acquired Wise.io, a machine-learning powered service that helps businesses find patterns and trends in their vast data stores. At first glance, that may <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-1602","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t