A digital twin is a virtual replica of a real (physical) object created by the data collected from sensors embedded in that object. The digital twin, therefore, provides a real-time digital representation of the object.
When confronted with a problem, have you ever stopped and asked “why” five times? If you do not ask the right question, you will not get the right answer. The Five Whys is a simple question-asking technique that explores the cause-and-effect relationships underlying problems.
Topics: Technology trends
Known as the technology behind Bitcoin, blockchain can be applied in a wide array of applications for business, not just limited to only the cryptocurrency arena. Even though still in its infancy, blockchain technology is believed to redefine the finance function.
The Internet of Things is a world that connects people, data, processes, and physical things. Beyond the consumer realm, the IoT is creating a new paradigm in the business world. So how will the IoT impact manufacturing?
The Factory of the Future isn’t some futuristic fantasy. It’s quickly becoming the new reality. And tech-savvy manufacturers are either on board or preparing for change. 40% of manufacturers believe that smart manufacturing and its foundational technology—the Internet of Things (IoT) — are within reach and that it’s the right time to invest.
Digital transformation is the mantra of today’s business but the majority of organisations are still at their earlier stage of the journey. There are five specific hurdles and barriers organisations will face while building an agile digital culture. Being able to acknowledge the problem and to come up with a suitable solution for each challenge will put your business on the right track.
A key tenet of the Fourth Industrial Revolution (Industry 4.0) is the rise of automation, robotics, and A.I. There will be fewer jobs for humans. Who will most likely be affected? Which skill sets will employees need to develop between now and 2030 in order to stay relevant in this new world? A recent report from the McKinsey Global Institute has attempted to answer these questions.
Digital transformation is the mantra of today’s business. It is the process of applying technologies to all aspects of the daily business operation. Nevertheless, digital transformation is more than just upgrading your IT system. It is also a cultural change that requires you to pay extra attention to your business goals and your employees’ behaviours.
Known as the technology behind bitcoin, blockchain has created a profound impact on the financial industry and beyond. But its potential is much more far-reaching and not limited to cryptocurrency. As blockchain continues to evolve, the list of its business applications just keeps expanding.