WHY IT MATTERS: Digital Transformation
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WHY IT MATTERS: Digital Transformation
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Curated by Farid Mheir
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GE + Sight Machine are revolutionizing the #manufacturing industry by mirroring every machine in digital world 

GE + Sight Machine are revolutionizing the #manufacturing industry by mirroring every machine in digital world  | WHY IT MATTERS: Digital Transformation | Scoop.it
The concept of the digital twin contains a trap. When we think of a twin, we think of a copy of an individual. In the digital world, we often think of a copy of an individual device – a physical replica of conveyor belt or radar. The trap is that we limit the scope of twindom and think too small.
Farid Mheir's insight:

This concept of digital twins in the manufacturing world should not be confused with the concept of human digital twins.

http://fmcs.digital/blog/digital-twin/

Here, GE is mirroring digitally everything that a machine is doing, and Sight Machine is pushing the concept forward by mirroring entire manufacturing floors.

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#IoT Internet of Things Trends, Forecasts & Market Estimates

#IoT Internet of Things Trends, Forecasts & Market Estimates | WHY IT MATTERS: Digital Transformation | Scoop.it
Cisco predicts the global IoT market will be $14.4T by 2022. IC Insights predicts revenue from Industrial Internet IoT spending will increase from $6.4B in 2012 to $12.4B in 2015. IoT in manufacturing market size is estimated to grow from $4.11B in 2015 to $13.49B by 2020, attaining a CAGR of 26.9%. With the potential …
Farid Mheir's insight:

A review of trends, forecasts, market estimates and other predictions regarding Internet of Things.

 

WHY THIS IS IMPORTANT

IOT has th potential to impact all industries, from consumer products to manufacturing processes to healthcare and treatment. Its technology and platforms should thus be included in all digital transformation plans from this point forward. Moreover, this represents a growing niche for new companies and consulting firms.

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Curated by Farid Mheir
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