The investment will result in the creation of 330 new jobs and the appointment of a software director for Europe. According to a recent report by GE, the Industrial Internet is estimated to contribute $2.8 trillion (€2.2 trillion) to productivity improvements in Europe over the next 20 years (contributing to European GDP in 2030), equivalent to a quarter of the eurozone economy.
In Hungary, GE is launching a program of approximately $50 million to develop an advanced healthcare information system that promises to improve decision-making and significantly increase healthcare efficiency. This four-year project—managed by GE Healthcare in partnership with Pannon University, the University of Szeged, and the National Cancer Institute—includes an investment of about $27 million from the Hungarian government and an additional investment of approximately $23 million from GE.
The program will offer approximately 180 software engineers a unique opportunity to develop and test one of the most cutting-edge healthcare IT infrastructure systems ever created. By using electronic health indicators and patient data, the new system is expected to help address one of the world's greatest challenges: combating rising healthcare costs while simultaneously improving the overall quality, effectiveness, and efficiency of the sector.
GE also announced its intention to expand its analytics and software development capabilities at its Engineering Design Center in Warsaw. This center will develop innovative, physics-based analytics solutions to support users in the energy, oil and gas, and aerospace sectors. Through this program, the number of engineers dedicated to Industrial Internet development at this GE center will reach 150 over the next five years.
GE today announced the appointment of Stefan Bungart as Software Director for Europe, tasked with driving regional integration, innovation, and rapid development techniques at its European software hub. In his new role, Bungart will collaborate with GE Software, headquartered in San Ramon, California, and GE's European business leaders to define and deliver a range of software-based solutions for customers.
Bungart brings 20 years of experience in the industry, having worked for multinational corporations and governments in consulting, strategy development and execution, marketing, and supply chain management. Most recently, he served as Head of Software Innovation at GE Germany. Prior to joining GE, Bungart was Vice President of New Services at Deutsche Telekom. He has also held several senior positions at IBM, including Director of Innovation for IBM Germany, Director of Marketing for Europe, and Director of Strategic Alliance Marketing for Europe.
Nani Beccalli-Falco, president and CEO of GE Europe, said: “These investments and the appointment of Stefan Bungart to the newly created role of head of software in Europe are part of GE’s strategy to increase our capabilities and capitalize on the opportunities that the Industrial Internet offers to GE and its customers.” He added: “We believe the Industrial Internet will help drive growth and productivity, as well as generate significant savings and improve efficiency in key sectors such as energy, healthcare, and transportation. But this won’t happen on its own. While private sector investment will be a key pillar, governments and the public sector must help create the conditions that enable such investment, such as fostering the training of skilled personnel, enabling a secure and free flow of data, and promoting greater standardization.”.
The concept of “Industrial Internet”
embodies a new technological trend that will transform industrial processes and increase productivity through improved data collection and analysis and greater integration of the digital world with the world of machines.
The Industrial Internet refers to the combination of complex machinery with a network of sensors, advanced software, and interconnected professionals. It encompasses fields such as machine learning, user-driven design, predictive analytics, and machine-to-machine communication to process big data from machinery, analyze it (often in real time) to gain insights, and use that information to improve operational efficiency. Increasing the degree of interconnection between the digital world and the world of machines has the potential to fundamentally transform industry on a global scale.
