Intelligent Tech Channels Issue 20 | Page 33

FUTURE TECHNOLOGY deliver services and create new business opportunities. IoT projects will impact most organisations’ competitive position, product development strategy and internal operations, as connected things will help generate revenue and lower costs. “While respondents of our global CIO survey said that 12% of their organisations have deployed IoT and 24% are actively experimenting [with] it, businesses in the Middle East face increasing costs, complexity and scaling challenges when they implement IoT solutions that actually deliver value,” said Rao. “We place IoT at the ‘Peak of Inflated Expectations’ as we believe it will take up to 10 years to achieve mainstream adoption by local businesses.” INTELLIGENT TECH CHANNELS Issue 20 A digital twin is a virtual representation of a real object that is designed to optimise the operation of assets such as aircraft, power plants and buildings. The primary short-term use is to lower maintenance costs and increase asset uptime. In GCC, Gartner analysts expect oil and gas and manufacturing companies to combine digital twins and IoT solutions for asset performance management and streamlining processes. “Digital twins enable businesses to optimise or transform their business model and will become the dominant design pattern for solutions in the next decade,” said Rao. “The challenge for organisations will be to change their thinking from a hardware- One major issue that 5G users face is the lack of readiness of communications service providers. centric to a hardware-plus-software-centric perspective in order to fully integrate digital twins internally.” Organisations considering the use of digital twins should focus on identifying 33