101: Predicting the future with digital twin technology
by
Martin Van Holten, Chris Greenwood, Alastair Pearson
for
PWC Australia
Recommended by
Paul Shale
Chief Commercial Officer
Key takeaways highlighted by the authors are:
- Digital twin technology takes a physical version of an object or system and recreates it in a virtual, sensor-connected model
- Already in use in manufacturing, the digital twin is becoming more common in a number of different industries
- For business, not only can a digital twin help with efficiency and optimisation, it can also help a company’s entire digital transformation
Why it’s relevant to Nextspace
The benefit of this article for Nextspace Partners is the case studies noted and cited in the use case section of this article:
- Manufacturing: GE, Chevron
- Automative: Tesla
- Health: Siemens
- City planning: PWC (the author)
- Construction: Lendlease
- Logistics: Tetra Pak, UK’s West Coast Mainlineroute, Greater Anglia’s London Liverpool Street to Cambridge line,and Transport for NSW
The authors’ conclude:
Digital twin technology may not be able to predict the future, but with advances in AI algorithms, real-time data from affordable and increasingly ubiquitous sensors and enabled by ultra fast, low-latency 5G, it’s as close as it has ever been before. From duplicating processes and procedures, to prototyping products and recreating complex systems, digital twins promise to take the risk, cost and time out of making essential decisions for the future of your business.
More recommended reads
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XMPro
for
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A quick recap of the stages of Industrial Revolution - from 1760
By
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for
Computerworld
An article that seeks to distance metaverse hype from the value of industrial digital twins
By
Dr Michael Grieves
for
IOT Solutions World Congress 2023
The value of Digital Twins can only be realized if Digital Twins and their virtual environment contain the same data and resulting information as their corresponding Physical Twins and real-world environment. This means that the need for more extensive, faster, and richer sensing of the physical world will dramatically increase as valuable use cases proliferate. In addition, we will evolve from working in physical or virtual environments to integrating and working simultaneously in both environments. Dr. Grieves discusses his views on the opportunities and issues of this evolution.
