In Episode 73 of the AI Impact Minute, Aaron Back explains how Celosphere 2022 highlighted digital twins and the power of AI.
This AI Impact Minute is sponsored by Celonis, the market leader in process mining and execution management. Join the world’s top 2,000 process fanatics and learn to fix process inefficiencies at Celosphere, the company’s annual conference which is being held November 9th and 10th in Munich, Germany. Sign up to watch the free virtual Celosphere 2022 live stream here.
Highlights
00:54 — A digital twin is often associated with Web3.0 and the Metaverse, and relies on artificial intelligence (AI) and machine learning (ML) to power it. The concept of a digital twin has burst through the scene in recent years, in part because of the pandemic. Organizations are now able to collaborate and communicate by utilizing a digital twin.
02:00 — Digital twins can be used to enact change in real-time, as it gathers data and feeds it into an ML model that can generate the next steps that align with a company’s processes or generate new ideas that must be integrated into the process.
02:42 — At Celosphere 2022, Jan Van Den Bremen, European Lead – Enterprise and Industry Technology of Accenture, and Mario Pellegrino, Head of CFO Digital Strategy and Realization of Merck, spoke about the evolution of Merck using Celonis technologies, in partnership with Accenture. Pellegrino admitted that Merck was new to using the Celonis solution to develop its Promise Program.
03:26 — Merck’s Promise Program intends to deliver on its promise for value. Merck is using Celonis technologies to envision the ways it can drive scalability to reach $25 billion in revenue by 2025 and take a deeper dive into the processes of daily work.
03:56 — Pellegrino emphasized his excitement for Merck’s future as it begins to leverage digital twins. Merck is utilizing digital twins to connect the conventional world with the agile — within the business context of scalability — world. Merck is looking to do this with Celonis’ task mining and Process Sphere solutions.
04:38 — The backbone for Merck’s evolution is AI since it is utilizing Celonis’ intelligent framework included in its execution processes — the intelligence is powered by Celonis’ AI engine.
06:20 — The abilities of AI are quickly increasing — what was once the standard for artificial intelligence is no longer the standard. Companies that want to compete fast must consider how AI is leveraged in business solutions and its untapped potential. These ideas will change data output and data interaction between digital twins, which can “unlock the art of the possible.”
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