Industrial Artificial Intelligence, Internet of Things Smart Devices, and Big Data-driven Decision-Making in Digital-Twin-based Cyber-Physical Production Systems

This paper analyzes the outcomes of an exploratory review of the current research on digital-twin-based cyber-physical production systems. The data used for this study was obtained and replicated from previous research conducted by Deloitte, Gartner, Job Wizards/Konica Minolta, and PTC. I performed...

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Bibliographic Details
Published in:Economics, Management, and Financial Markets Management, and Financial Markets, 2020-01, Vol.15 (1), p.47-53
Main Author: Breillat, Richard
Format: Article
Language:English
Subjects:
Advanced manufacturing technologies
Algorithms
Artificial intelligence
Big Data
Business Economy / Management
Conflicts of interest
Decision making
Digital twins
Economics
Educational philosophy
Engineering research
Industry 4.0
International relations
Internet of Things
Literature reviews
Machine learning
Manufacturing
Medical equipment
Neurosciences
Process engineering
Product development
Robotics
Smart devices
Structural equation modeling
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Summary:This paper analyzes the outcomes of an exploratory review of the current research on digital-twin-based cyber-physical production systems. The data used for this study was obtained and replicated from previous research conducted by Deloitte, Gartner, Job Wizards/Konica Minolta, and PTC. I performed analyses and made estimates regarding benefits of digital twins in companies, digital twin business values, practical actions to advance digital twin strategies, and different digital twins that enterprises can use. Data collected from 4,300 respondents are tested against the research model by using structural equation modeling.
ISSN:1842-3191
1938-212X
DOI:10.22381/EMFM15120204