Fraunhofer Institute for Production Technology IPT
Social trends such as increased individualization, shorter development cycles and increasing product and variant diversity can have a significant impact on the core business of established companies. High product variance contrasts with a significantly shorter life cycle. Digital technologies, sensor technology, methods such as big data analytics and models such as the digital shadow offer companies a wide range of opportunities to keep pace with these developments.
The digital twin, a virtual image of a product or production, illustrates this impressively. It can be used to revolutionize processes along the entire value chain: Increased efficiency, error prevention and shortened development cycles are just a few examples. The digital twin therefore makes a significant contribution to long-term competitiveness, both ecologically and economically.
The ability to digitize is a key competence for sustainable companies. It enables flexible production, product individualization and increases efficiency and resilience. It also leads to higher quality products and reduces downtime through automation.
Increasing continuous use also creates new risks, such as data sovereignty and cybercrime. Data protection and data security are therefore becoming increasingly important and complex. Nevertheless, data is the "raw material of the future" that enables companies to better adapt to future challenges.
