The latest of the U.S. International Trade Administration’s “Trade Talks” series features General Electric’s Chief Economist, Marco Annunziata, and Vice President and Senior Counsel for Global Government Affairs and Policy, Karan Bhatia, for a discussion titled Opportunities and Challenges Posed by the Future, Regional Trends, and Implications for Trade.
Marco Annunziata is the Chief Economist and executive director of global market insight at General Electric, responsible for global economic, financial and market analysis to support GE's business strategy. The author of "The Economics of the Financial Crisis: Lessons and New Threats," Annunziata has co-authored three papers on the economic implications of recent technological innovations in industry: The Future of Work in 2014, The Industrial Internet @ Work in 2013 and Industrial Internet: Pushing the Boundaries of Minds and Machines, in 2012. He has given a TED talk on innovation and is a guest lecturer at Harvard Business School and Stanford University.
In this discussion Annunziata describes three aspects of the “new industrial age”: 1) the Industrial Internet, which merges “big data with big iron”, integrating cloud-based analytics with industrial machinery, resulting in greater efficiency and reduced downtime; 2) Advanced Manufacturing, which links design, product engineering, manufacturing, supply chain, distribution, and servicing into one cohesive and intelligent system; and 3) the “Global Brain”, as Annunziata calls it – the collective intelligence of human beings across the globe, integrated by digital communication networks.