K&H: Digital twins are coming, but what are they?
A digital twin is an advanced technology that allows the creation and simulation of a virtual counterpart of physical objects, systems or processes. These digital replicas collect and analyze data in real-time, driving more efficient decision-making, cost reduction and innovation.
Different types of digital twins, such as product, data and system twins, can be used more and more widely in many industries, such as healthcare or construction. The market for digital twins is growing rapidly and also plays a significant role in sustainability by optimizing the use of resources and reducing the environmental footprint. Digital twins can help a variety of organizations in simulating real situations and their outcomes, which ultimately makes it possible to make better decisions, according to a study by McKinsey in August.
For example, a digital twin used on a production line is a virtual model that follows and simulates the operation of the physical production line in real time. Based on the data collected by the sensors, the digital twin can predict maintenance needs, optimize processes, reduce scrap and increase efficiency. If, say, a production machine is prone to breakdown, the digital twin can predict when maintenance is needed, thereby avoiding a major breakdown that could shut down production.
A car manufacturer uses its cars’ digital twins to track the condition of vehicles in real time. Each such vehicle has a digital twin that is constantly updated through software updates. This allows engineers to remotely monitor performance, diagnose problems and make repairs via software without having to physically bring the vehicle in for service.
Related news
Crisis resistance through AI and ESG
KPMG’s CEO Outlook 2024 survey reflects the views of more…
Read more >Sustainability pays off
The EY 2024 Sustainable Value Study involved 520 sustainability leaders,…
Read more >AI-Generated Ads May Have A Negative Effect On Consumer Perceptions
A new study by NIQ suggests that AI-generated advertisements could…
Read more >Related news
Master Good, Nestlé Hungária, Tesco Hungary are this year’s winners
This year, Trade Magazine announced the Christmas TV Ads 2024…
Read more >This year’s CO-OP Star Silver Pine and Silver Star awards have been presented
As every year before Christmas, this December, the CO-OP Star…
Read more >Declining company numbers, permanent half-million limit
In 2024, the number of partnerships is expected to decrease…
Read more >