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It made a massive investment (more than $1 billion) to build a software “ Center of Excellence ” in San Ramon, California to manage the data explosion created by the increasing intelligence of its industrial machines. GE is now approaching $1 billion in new revenue annually from their expanded software and data activities.
In 2011 GE, the company famous for exporting great leaders, imported one when it recruited Bill Ruh from Cisco to lead GE’s push into software and analytics. Three years later, GE hired veteran softwareengineer Ganesh Bell to be chief digital officer of GE Power and Water. Cut layers.
In fact, among the top 10 companies of the Forbes Most Innovative Companies list (since 2011 when we started the list), more than 80% of the most innovative companies compete in industries in the top right quadrant. In other words, if you are in a high uncertainty industry, you must excel at innovation…or die.
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