Forbes September 14, 2024
A good way to think about digital twins is as a flight simulator for the business. Maneuvers and corrections are made within the safe and relatively inexpensive confines of cyberspace, buttressed by the inflow of the latest data. And, importantly, they are AI models in their own right.
The global market for digital-twin technology will grow about 60% annually over the next five years, reaching $73.5 billion by 2027, a recent analysis published by McKinsey indicates. At least 70% of C-suite technology executives at large enterprises are already exploring and investing in digital twins, the consultancy also finds.
They are growing more popular due to “their ability to provide greater operational efficiency, reduce cost, meet demand for more intelligent data...
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