G.E. Makes a Sharp ‘Pivot’ on Digital - The New York Times

In other "pivot" news, see Intel is giving up on its smart glasses (The Verge)

"G.E.’s technical prowess, they said, lies in designing and manufacturing big machines like power-plant turbines, jet engines and medical-imaging equipment. Its traditional software skills have been in the specialized programs that control the machines and factory operations. GE Digital was a striking departure into cloud-based internet software, data analytics and artificial intelligence tools like machine learning.

“G.E. reached too far outside its expertise and too fast,” said Steven Winoker, an analyst at UBS. “And it became a financial black hole.”

Just how much G.E. has invested in its digital initiatives is uncertain, but it has been several billion dollars. In an article last year in the Harvard Business Review, Mr. Immelt wrote that in 2016 “we put about $4 billion into developing analytics software and machine learning capabilities.”"

G.E. Makes a Sharp ‘Pivot’ on Digital - The New York Times