Digital twins: Revolutionizing Product Businesses

At its annual Minds+Machines conference in San Francisco last year, GE showcased how a digital twin could be used to optimize real-world industrial assets.

According to GE, the idea behind the digital twin is to go further than working with models. The company says the costs of maintenance versus replacing an entire asset are also considered.

“If a company orders jet engines, the revenue projections become part of the digital twin, along with the designs for the engines, specific materials used in construction and information on the factory where they were built. When the engine starts up, and when it is serviced, sensors feed that data into the twin,” - GE

“Digital twins drive the business impact of the IoT by offering a powerful way to monitor and control assets and processes,” - Alfonso Velosa, research vice-president at Gartner.

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