1/20/2024 0 Comments Define virtual cio![]() ![]() TIAA reduces client service complexity: The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA) is using a digital twin to reduce the complexity of onboarding new institutional clients. The company is using the technology to improve capacity and process controls, including boosting the uptime of machines via predictive maintenance and reducing waste associated with machines packaging inconsistent product quantities. Mars optimizes its supply chain: Confectionary, pet care, and food company Mars has created a digital twin of its manufacturing supply chain to support its businesses. Rolls-Royce uses the digital twin to offer service plans tailored to specific engines. The company can monitor how each engine flies, the conditions in which it’s flying, and how the pilot uses it. Rolls-Royce improves jet engine efficiency: Multinational aerospace and defense company Rolls-Royce has deployed digital twin technology to monitor the engines it produces. Organizations are already using digital twins to improve their businesses. Digital twins receive real-time updates from the physical asset, process, or system, allowing engineers to perform tests, assessments, and analysis work using real-world conditions. It depends on the engineer to input new parameters. Systems integrator, SL Controls, says that simulations allow engineers to run tests and conduct assessments of a physical asset, but the simulation is static. For example, a process twin might represent an entire production facility.ĭigital twins can be seen as simulations of physical objects and processes, but what sets digital twins apart is real-time updates. These twins represent how systems work together. These twins reflect the interaction of assets that form a system or unit. These twins represent the interaction of components to create performance data. Assets are two or more components working together. Here the twin represents the physical, mechanical, and/or electrical characteristics of a component or part. These are the basic unit of digital twins. The various types of digital twins in use today are differentiated largely by their area of application, according to IBM: This includes machine learning and inputs from engineers. Digital twins receive continual updates from equipment sensors and outputs from platforms and systems, like manufacturing equipment, customer service, and purchasing. Data on the past performance of machines, processes, and systems. By integrating financial data, organizations can use digital twins to make better and faster decisions about adjustments.ĭigital twins consist of three primary elements, according to systems integrator, SL Controls: GlobalLogic notes that process automation and 24×7 access to system information lets technicians focus more of their time on collaboration. Users can monitor and control systems remotely. Organizations can use digital twins to proactively monitor equipment and systems to schedule maintenance before they break down, improving production efficiency. ![]() They can be used by engineers to identify process failures. Digital twins can help companies test and validate their products virtually before they exist in the real world.
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