What

  • The Internet of Things (IoT) brings a rich infrastructure that connects physical assets to IT systems, often in real-time. This enables the building of virtual models of these assets that not only reflect their current situation, but can also predict their future state and their interactions with other assets
  • These Digital Twins pop up in all major industries, notably in manufacturing, where the Industry 4.0 initiative envisions the merger of operational technology and information technology
  • Producers of physical assets move to create software platforms to model and develop with Digital Twins

What:

  • The Internet of Things (IoT) brings a rich infrastructure that connects physical assets to IT systems, often in real-time. This enables the building of virtual models of these assets that not only reflect their current situation, but can also predict their future state and their interactions with other assets
  • These pop up in all major industries, notably in manufacturing, where the Industry 4.0 initiative envisions the merger of operational technology and information technology
  • Producers of physical assets move to create software platforms to model and develop with Digital Twins

 Use:

  •  Industry 0 describes a digital infrastructure in which machines, factories, supply chains, and products are equipped with real-time, “smart” IQ, which improves autonomy, productivity, and quality
  • GE Aviation built the Configuration Data Exchange: a real-time dissemination and integration of digital twin configuration data and exchange of essential operations, maintenance, environmental and event information
  • “Smart” cities are increasing their IQ as well: in Auckland (NZ), sensors in the street lights monitor traffic, and by applying analytics to the collected data, the city is better positioned to manage traffic congestion.

 Impact:

  • Optimize the management and servicing of physical assets through predictive analytics, for example
  • Improve business processes and activities that could benefit from a real-time connection to physical assets, for route optimization or customer experience
  • Adding value to physical products, by providing usage analytics to customers
  • New business models through the monetization of IoT

 Tech:

IoT Consortium, IoT Talent Consortium