Tuesday, February 18th, 2025

Technologies like AI and digital twins can address challenges ranging from equitable growth to sustainability: WEF


Nearly sixty percent of global manufacturers will use generative AI as a tool to help people gain expertise faster by 2027, according to the annual meeting of the World Economic Forum (WEF).

To mitigate the growing shortage of skilled labour, technology will capture the expertise of retired workers and transfer it to the next generation, the report said.

When you combine AI with digital twins the impact is even greater. Possibilities include everything from monitoring and optimizing performance to creating more realistic simulations and making accurate predictions.

As technology makes industries smarter, the global productivity gap will also close and more opportunities will be created.

This is exactly what happened in the IT sector, it used to be that one IT administrator would service 1,000 tickets. Today, because of digitalization, they can serve 100,000 people. This does not reduce IT jobs and improves our productivity.

“The same dynamics will emerge as we make digital technologies standard across more industries,” the WEF says.

It talks about how technology combined with industry-specific knowledge can create new possibilities for everyone.

“This is the power of technologies like AI and digital twins. When combined with industry-specific information, they can open up new possibilities for everyone – making cutting-edge solutions more accessible and helping us tackle our most pressing challenges, from equitable growth to sustainability.

The way we adopt and deploy these technologies today will shape the future for generations to come.

The great value of AI lies in its ability to make data actionable, where together with digital twins these data can be collected, analyzed, removed inefficiencies and used to improve efficiency and quality. Better decisions can be taken.

“In highly automated factories, machines produce data equivalent to half a million films every month – huge amounts of data that, until now, have been little used. With AI, creators can unlock this treasure trove. It collects data, analyzes patterns, reveals inefficiencies, predicts outcomes and enables better decision making. For example, quality control alone now requires 95% less effort,” says the WEF.

And, it is not just for factories, it can be used in various fields. In health care, it can be used to help interpret images such as MRI scans and X-rays.

In agriculture, it can help robots identify ripe fruits for plucking. In buildings, it can evaluate data from building blocks to increase energy efficiency and reduce costs and carbon emissions.

We need to create a digital strategy to bridge the global productivity gap and refresh the economic landscape with technologies like AI.



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