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Digital Twins: what it is, how it works, and the advantages of this technology

mjvinnovation

Originally, this term was coined by Dr. Michael Grieves in 2002. The situation changed in the 2010s, with the development of IoT, Artificial Intelligence, Big Data, and Cloud Computing. A Digital Twin can also be described as a virtual model of a real product, process, or service that can be monitored, analyzed, and improved.

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How to Discover Your Company’s DNA

Harvard Business Review

Watson’s vision was to use thinking to create machines, and to use machines to enable thinking. IBM had a near death experience in the early 1990s due a series of bad business decisions. ” And its current focus is on Cognitive Business, led by the machine learning technology called Watson.

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The Most and Least Digital Jobs – and How Well They Pay

Harvard Business Review

They found that 95% of those occupations became more digital between 2002 and 2016, meaning that computers became a more important part of the job. Once you select an occupation, you’ll see below the main chart how that score changed since 2002, as well as the change in average pay.

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Want Less-Biased Decisions? Use Algorithms.

Harvard Business Review

In contrast to much of the press coverage of artificial intelligence , this revolution is not about the ascendance of a sentient android army. How companies are using artificial intelligence in their business operations. Orlagh Murphy/Getty Images. A quiet revolution is taking place. Insight Center. Adopting AI.

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How Software Is Helping Big Companies Dominate

Harvard Business Review

In fact, research suggests that big firms are dominating through their use of software. In 2011, venture capitalist Marc Andreessen declared that “software is eating the world.” Research by one of us (James) links this trend to software. Years ago, one of us (James) started a company that sold publishing software.