Digital twins aren’t just for big companies
Digital twins enable companies to iteratively simulate and improve complex multivariate problems, reducing the learning costs that come with conducting experiments in the physical world. Small and medium enterprises (SMEs), previously the exclusive territory of large corporations, can now use AI in advanced digital twins that enable them to iteratively simulate and improve complex multivariate problems. Creating these twins is a five-step process that includes: setting a clear business goal; Develop a clear plan for the twinning process; Identify and organize the data you will need; Build the digital model of this flowchart; Then test, implement and iterate the model.
Executing the strategy is the most critical moment because it is the point where any error in judgment has a tangible cost. One way to reduce this risk is to repeat the process over and over in a test environment and improve it a little each time. It’s the kind of thing Toyota’s continuous improvement systems are known for. But this can be difficult because it involves constantly monitoring data and making many precise decisions in response.