How the digital twins have helped the manufacturing industry increase profits (Part 2)

The sandbox platform not only provides a customizable environment for manufacturers to help them set up digital twins, but also offers a lot of legal support.

With the booming speed of Industry 4.0, new technologies are constantly being formed, often being legally bound before being licensed for application. Many experts believe that this process is a dumbbell that holds the advancement of science and technology in the manufacturing industry. To solve this problem, in the UK, The UK’s Financial Conduct Authorigy (FCA) has created a pilot legal environment for the financial technology sector (Fintech) by An additional way to exercise responsibility is to provide support and advice, and issue temporary licenses that allow startups to defer certain regulations for a period of two years.

This method of management has contributed to bringing the UK to attract a large number of startups in the financial technology sector, while at the same time creating a ripple effect when more and more countries apply this management method, not only. in Fintech but also in other fields, such as testing and applying self-driving car technology and artificial intelligence, etc.

In the Deloitte newspaper “Industry 4.0 and digital twins” the author wrote: “Digital twins are based on real-time data measurements and are based on many different dimensions. These data retrieval methods can form a development profile of a virtual object or process in the digital world, and thereby provide important insights into system performance, leading to actions in the real world like changing the product design or the manufacturing process of that product”.

The digital twins enable data analysis and system monitoring to anticipate problems that might occur in the process that stalled production. It also helps managers develop new plans for the future through simulation.

On Forbes magazine, Bernard Marr wrote: “We will learn useful lessons and open up new potentials in virtual environments. These words can be applied in practice to help your business change completely. Think of the digital twin as your most comprehensive and talented production technician who can help you track, analyze, and forecast the most accurate possible outcomes”.

Productivity and Quality Office