The Innovation Optimists

The 4th Industrial Revolution is a study in contrasts, as the 2016 GE Global Innovation Barometer illustrates. For example, the interplay of optimism about the power of innovation to address some of society’s greatest challenges, mixed with fear of “Digital Darwinism” and becoming obsolete.

Animation Credit: Sam Cannon

With thoughts on how optimism is shaping the future of work and the global competitive landscape, here’s Dr. Amit Narayan Founder and CEO of AutoGrid, Inc.:

How Digital Innovation Can Tackle Global Challenges

As we enter the 4th Industrial Revolution, technological innovations — particularly advances in software — are increasingly being used to address some of the world’s most pressing issues. Perhaps nowhere is software’s ability to solve our most difficult challenges more apparent than in energy. Big Data, artificial intelligence, machine learning and the Internet of Things (IoT) are enabling us to transform the electric grid — making it cleaner, more affordable and more reliable. It is true that software can’t actually generate electricity. But it can allow us to maximize the value of the power we generate through effective use of data. In doing so, we can reduce our dependence on dirty fossil fuels and improve the effectiveness of energy efficiency, renewable energy and energy storage technologies — and create a more efficient, carbon-free electric grid. Software will turn data into a new source of power. This transformation will allow us to cost-effectively extend the benefits of electricity to 1.1 billion of people in the developing world without access to reliable electricity and accelerate our transition to a fossil-fuel free economy. When it comes to energy, software will not eat the world — it will help save it.

Dr. Amit Narayan is Founder and CEO of AutoGrid, Inc., a leader in big data analytics and control software for the electricity and energy industry.

Welcoming the Innovation Revolution

Globally, the 2016 GE Innovation Barometer finds that business executives are optimistic about the Fourth Industrial Revolution. Click here to compare and contrast sentiment in each surveyed country within the map below.

Explore the findings of the GE Global Innovation Barometer here: www.gereports.com/innovation-barometer

Originally published at www.gereports.com on January 19, 2016.