In a recent study performed by General Electric (GE), productivity gains resulting from the “internet of things” could add between $10 trillion and $15 trillion to global GDP over the next 20 years.

The manufacturing giant reckons the “industrial internet”, as it terms the phenomenon, could find direct application in sectors accounting for more than $32.3 trillion in global economic activity, but expects this figure to reach about $82 trillion – one half of global economic output – by 2025.

The study deals with correcting inefficiencies in business processes for major industries. Improving these processes even slightly provides huge cost savings boosting the overall economy.

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