Lecture: April 8, 2014


The Industrial Internet Economy

Marco Annunziata, GE


Marco Annunziata is the Chief Economist and Executive Director of Global Market Insight at General Electric Co. In his position, Marco is responsible for global economic, financial and market analysis to support GE’s business strategy. He is the author of “The Economics of the Financial Crisis”, published by Palgrave MacMillan. He is a two-times winner of the Rybczynski Prize for best paper in business economics, awarded by the Society of Business Economists in London.

Marco joined GE in January 2011 after a long experience in the financial sector, where he was most recently Chief Economist at Unicredit, and previously Chief Economist for the Eastern Europe, Middle East and Africa region at Deutsche Bank in London. Prior to Deutsche Bank, he spent six years at the International Monetary Fund in Washington, where he split his time between emerging markets and the Eurozone. While at the IMF, Marco was involved in regular consultations with the Italian government, the Bank of Italy, the European Central Bank and the European Commission, and took part in loan negotiations in several European and Latin American emerging economies.

Marco holds a PhD in Economics from Princeton University and a BA in Economics from the University of Bologna.


The “Industrial Internet” comprises intelligent machines, advanced analytics, and a new generation of skilled workforce. The rapidly declining cost of sensors and of data storage and processing is allowing industries to deploy increasingly sophisticated analytics; these in turn bring within reach substantial efficiency gains and energy savings in sectors as diverse as aviation, health care, transportation, energy generation and distribution, and many more. The same profound transformation that the internet has already brought to the consumer world is now coming to industry. The potential economic impact is huge. The first wave of the ICT revolution had doubled the rate of US productivity growth, but it then fizzled out. The industrial internet has the potential to trigger a new productivity miracle, which would accelerate growth in the US and around the world, and could add as much as $15 trillion to the global economy by 2030, with a substantial rise in incomes per capita and living standards.

Lecture Notes

Presentation on Industrial Internet by Marco Annunziata (pdf)