Digital twins are advanced digital replicas of physical assets or processes that help bridge the gap between the physical and digital worlds. These tools provide organizations with a “digital sandbox” to test new ideas before implementation. By applying AI to the data outputs of digital twin solutions, organizations can gain powerful new insights to monitor, refine and transform operations, optimize the customer experience and minimize risk.
Digital twin solutions can be utilized in various industries, from smart cities and factories to smart campuses and healthcare. When coupled with AI, they can provide a foundation for innovation and growth. In a future built around connected devices, digital twins connect the dots companies rely on to monitor, analyze and deliver services at a global scale.
Digital twins account for thousands of external variables that predict different results, like the total addressable market, target customers and market share. With these insights, companies can better understand the business implications of potential expansion strategies and make more informed decisions.
Concurrently, AI-powered costing helps enterprises accurately estimate significant investments’ actual expenses and optimize costs with models that improve their visibility into the most effective paths forward for their business.
