GE has experienced some rocky roads through the financial recessions, but the company is finding ways to adjust to the declining economic state of the world. Currently, GE is working on breaking itself free from its financial services and decreasing its work force. GE has recently stated that it plans to sell 20% of its financial division and pay off a large share of its stockholders, which will decrease the capital of the company and free up a lot of its money for further investments.
The recent decisions made by GE will also prevent the company from suffering the additional financial decreases that have been impacted by the economy. The company CEO is taking a very conservative stance in an attempt to guarantee the company’s financial stability. He has already removed the company from home loans and real estate to provide a more stable infrastructure for his company.
GE has created nine different services and has made partnerships with Cisco, IBM, Amazon, Intel and AT&T, which has allowed it to be one of the larger companies in the new industrial Internet revolution.
Industrial Internet and the Energy Sector
While the energy sector seems simple from the outside, it is actually extremely complex. This sector is not one entity. In order for it to properly function, various entities are involved in each aspect of finding, securing, creating and transporting each bit of energy to the consumers. There is also a huge amount of documentation that goes into every step of the process.
GE is creating new products consistently for the energy sector. The new equipment it has focused on will enhance the productivity of the oil companies, gas companies, electric companies and power distribution companies. Its newest breakthroughs have been focused toward water collection and distribution.
As it has demonstrated in the past, GE is becoming more innovative and revamping themselves based on what the times call for. For instance, researchers at GE have announced that they are now working on a new technology that they call “cold spray,” an advancement that has the possibilities of 3D printing. This technology is also known as “3D painting.” This technology is in the late stages of creation and is expected to be available to companies soon.
How GE Stacks Up
With existing companies focused on 3D printing, GE has to take additional measures to ensure that its product makes it to the top of the list. There are already several companies that offer 3D printers and services, which means that GE really needs its new development to stand out.
Because of this, GE is focusing on an updated version of the 3D printing concept. Instead of the basic uses for this technology, GE wants its product to focus more on repairs and complex tasks. Because its product is going to serve additional purposes, its niche is going to be known as 3D painting, not 3D printing.
Advancement of 3D painting vs. 3D printing:
1. 3D printing is limited to the size of the printed object, whereas 3D paining is only limited by the power of the equipment and how far the spray can go.
2. 3D printing can be used to create new items only, but 3D paining can create new objects and fix existing objects and parts.
3. 3D printing only works with a printer and other equipment attached. 3D painting can work independently, without a printer which allows for a greater range of motion.
Basically, the equipment being produced by GE will be extremely superior to the abilities of 3D printing.
Because of its willingness to advance, GE is has built a name for itself in many different industries. It is well respected in the aviation, electric, gas, water, energy management, transportation and health industries. It is also one of the largest companies that distributes goods to the average person and small businesses. It supplies parts, repairs and maintenance to many different products, even ones that it does not make. This means that the technology it is creating behind the scenes for large companies can also be used by it to meet various demands of its customer base.
The investments it has made in the 3D painting industry could save it time, and money, leading it into a multi-billion dollar venture.