My Journey Through the Evolution of IoT-Enabled Digital Twins: From Sold Solutions to Bought Products

Why I think about the future of Digital Twins:

As a technology enthusiast, I've been captivated by the concept of Digital Twins and their growing importance in our increasingly digitized world. As a strategist, I can't help but ponder the inevitable trajectory and far-reaching implications of this "emerging" technology as it matures and becomes an unstoppable force in our world. I've spent many hours pondering the future of this technology, and just recently, someone asked about my perspective on the future for IoT and Digital Twins products and services. Here are some of my thoughts on the evolution of Digital Twins from being "sold" solutions to "bought" products, and the role of the Internet of Things (IoT) in this transition.

The Excitement of Digital Transformation:

I remember when Digital Transformation was an exciting, novel concept. It represented the endless possibilities of blending the digital and physical worlds. Today, this transformation is becoming the new normal, and I believe that in the not-too-distant future, digital solutions and twins will be business as usual. IoT-enabled Digital Twins will be everywhere, and businesses will shift their focus to the return on investment (ROI) these technologies offer.

My Observations on Selling IoT-Enabled Digital Twins:

As I delved deeper into the world of IoT and Digital Twins, I realized that many potential customers were problem-aware but didn't know that IoT or Digital Twins could provide the solutions they sought. As a result, vendors like ourselves market and sell their IoT-enabled Digital Twins to early adopters who are willing to innovate for early competitive advantage. As more case studies and examples emerged, I noticed that prospective customers begin to understand the potential of these technologies, shifting their behavior towards actively seeking and "buying" these products. We are seeing more solution aware users that are not neccesarily at the bleeding edge of technology.

The Anticipated Transition to Bought Solutions:

I envision that as IoT and Digital Twins become mainstream in the next twelve to twenty four months, businesses will prioritize factors like price, references, and other "commercial" differentiators. In this stage, Digital Twins will evolve from "sold" solutions requiring consultative approaches to "bought" products with more product-aware buyers.

My Thoughts on the Convergence of IoT, Digital Twins, and Data & AI:

As I reflect on the future, I believe that IoT and Digital Twins will converge around digital capabilities as the central theme. IoT will become an integral part of Digital Twins, and businesses will focus on leveraging digital capabilities to improve their processes and outcomes. Additionally, I anticipate that Data & AI will eventually merge under the umbrella of digital business, further enhancing the value and impact of Intelligent Digital Twins.

Conclusion:

As we navigate the transition of IoT-enabled Digital Twins from being "sold" solutions to "bought" products, I encourage businesses to adapt their strategies to remain competitive. Emphasizing the convergence of IoT, Digital Twins, and Data & AI will be crucial in driving the adoption and success of these technologies. By staying ahead of these trends, we can all position ourselves for success in an increasingly digitized world. So, let's embrace this exciting journey together and shape a better future for us all.

Please comment with your views on this as we navigate down into the through of disillusionment for the next few months.

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