Here’s Why Investors are Starting to Pay Attention to Infrastructure Digital Twins
By Steve Cockerell, Industry Marketing Director, Rail & Transit, Bentley Systems
The banking sector has long been at the forefront of leveraging data and technology to make better decisions, reduce risk, and enhance return on investment. Taking on today’s major challenges – climate change, energy, and healthcare, to mention a few – require having access to data, supported by the right technology, to ensure the right outcomes.
Digital twins – a realistic and dynamic digital representation of physical assets, processes, or systems in the built or natural environment, are one of the most significant technological advancements of the last decade. Just like BIM almost 20 years ago, they are reshaping how infrastructure is planned, designed, built, and operated today, and are critical to developing infrastructure that will sustain future generations around the world.
Here in the United Kingdom, the Centre for Digital Built Britain (CDBB), a collaboration between the University of Cambridge and the Department for Business, Energy, and Industry Strategy, has seen first-hand how digital twins can improve decision-making in asset planning, design, build, and operation, as well as the benefits of connecting the technology across organizations and sectors.
CDBB pioneered the creation of the UK’s national digital twin project, creating an ecosystem of linked digital twins that can securely communicate infrastructure information in real-time to enable better results, based on the Gemini Principles. A set of ethical principles that the CDBB believes should apply to any digital endeavor in the infrastructure sector, the Gemini Principles are founded on the premise that all digital twins must have a clear purpose, must be trustworthy, and must function effectively.
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This article was republished with prior written permission from Bentley Systems.
(Source: Cockerell, Steve. “Here’s Why Investors Are Starting to Pay Attention to Infrastructure Digital Twins.” Bentley Blog, Bentley Systems, 6 Sept. 2022, https://blog.bentley.com/heres-why-investors-are-starting-to-pay-attention-to-infrastructure-digital-twins/.)
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Bentley Systems (NASDAQ: BSY) is the infrastructure engineering software company. We provide innovative software to advance the world’s infrastructure — sustaining both the global economy and environment. Our industry-leading software solutions are used by professionals and organizations of every size for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, mining, and industrial facilities. Our offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, Seequent’s leading geoprofessional software portfolio, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,500 colleagues and generates annual revenues of approximately $1 billion in 186 countries.
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