The core body of the technical transformation is through AI, cloud, blockchain technology, and the Internet of things. The heart of the transformation is believed to be through digital twins.
As per IDC estimations, digital transformation will attract investment of up to $2.3 trillion by 2023. Through holistic strategy, a digital twin can transform the company plan, business synchronization, and operation goals by delivering optimal results.
What is a digital twin?
A digital mirror image of physical assets, processes, personnel, systems, and devices. The real-time information is displayed as a digital twin from the connected systems to provide deep insights into the various process efficiency and accelerate automation.
Digital twins in the industry are used mainly for testing new plants and processes digitally. They also train employees as well as optimize ongoing operations.
The digital twin can be used to track the plant’s effectiveness, machines, and other devices in real-time. A holistic view of the plant can be seen with the combination of machine learning and IoT capabilities. Even predictive maintenance can be enabled to avoid unplanned downtime. O&M operations can be improved with the leads from predictive analytics by generating billions of dollars in cost savings.
The digital twin can be used to measure plant temperature, power consumption, pump pressure, and flow rates in real-time. With virtual simulation, engineers can customize the system with optimal performance.
The digital twin can be used for end-to-end transparency with manufacturers and customers knowing the exact route for the delivery and the time of arrival.
Henkel to improve its efficiency by three times more by 2030 is using the path of digital transformation. The company wants to implement a cross-system platform to serve as a digital backbone of the infrastructure. Henkel already installed more than 4,000 physical and virtual sensors to measure electricity, compressed air, steam, water, and wastewater resulting in collecting more than 1 million data points per day.
The data supported improving the efficiency and sustainability of the company.
Hence it can be seen why digital twin is one trending tech topic in 2023 and the core of Industry 4.0. How companies are leveraging the digital twin to advance themselves digitally as well as become a sustainable pioneered company.