Digital Twins Enable Industrial Internet of Things Opportunities

Digital twins, supported by sensors and communication infrastructure, are rapidly changing the business models at many companies and are expected to create trillions in global economic value. In 2014, at the 3rd Annual Minds & Machines Conference, General Electric Chairman and CEO Jeffrey Immelt declared, “If you went to bed last night as an industrial company, you are going to wake up in the morning as a software and analytics company.” He announced that GE would make its Predix operating system for powering the industrial internet to any company in 2015. Yet, despite the excitement that year data from Accenture shows that only 10 percent of market leaders understand the underlying business models and long-term implications of IIoT and digital twins. Continue reading

Industrial Internet of Things Powers a Transformation of Business Opportunities

For over 30 years, ANSYS has been supplying GE with sophisticated first principle modeling tools that have enabled virtual prototyping of some of the worlds most complex products. The relationship continues to mature as the two explore the marriage of GE’s Predix Platform with ANSYS’ Simulation Platform to create the potential to enhance the monetization of asset health monitoring and the industrial internet of things. This marriage further enables closed loop feedback with engineering to accelerate NPI and drive costly warranty costs out.

The ANSYS Simulation Platform utilizes a variety of parameters sensed, collected and sorted by the Predix Platform, parameters such as temperature, pressure and vibration to create a simulation based physics model that represents a digital twin of an asset that can be used to accurately predict asset health. Continue reading