Investor dollars are pouring into property technology projects that promise to bring radical change and cost savings to new developments.
In particular, digital twin technology is on the rise with industry analysts predicting it will become the central way companies understand and operate their physical assets in the coming years.
A digital twin, in its simplest sense, is a linked virtual model of a physical object. By connecting the real-time data of the physical object or process into its digital representation—programmed with physics, mathematical models, AI and pattern recognition to faithfully recreate its sibling—the digital twin comes to life.
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