An automaker that’s not known for its modernism is apparently undertaking a major technological initiative, along with an artificial intelligence company known for its decentralized data platform development.
News today shows the Rolls-Royce company preparing to implement a digital twinning approach for its line of unique cars that you might know best from the monopoly game board.
Rolls-Royce started as an electrical and mechanical business in 1884. It became famous for its line of high-powered metal behemoths with flamboyant hood ornaments and a jet-like engine design. Now, the company is partnering with Iotics to create a process that it says will give Rolls-Royce “the capability to unlock over 200 data sources, brokering interactions to create digital twins of their in-field assets, and receive real-time event insights across customer, supplier and partner boundaries.”
Digital twinning is a pretty new idea – it’s the notion that by creating digital counterparts for physical assets, companies can better manage processes.
Rolls-Royce talks about the concept of “Customer service 4.0” as a useful philosophy in developing these types of digital frameworks.
“Iotics’ technology is helping us realise our vision of placing our customers at the heart of everything we do, exploiting digital twin technology to deliver the best service and to enable our customers’ businesses,” Chief IT Digital Officer of Rolls-Royce Power Systems Jürgen Winterholler said in a press statement. “Together with Iotics we are building digital solutions around how they work for our customers’ needs.”
The current strategy, spokespersons report, builds on a partnership that began in May 2018, where Iotics technology worked with Rolls-Royce internal programs like Go!Manage. The business partners call the result a “single source of truth for asset information which enables the vision of Customer Service 4.0.”
While the Rolls-Royce adoption of digital twinning may not mean much to you as an investor on its own, the approach could revolutionize any number of supply chains and help some of the companies in your portfolio to more capably deliver products and services. Consider it accordingly.
