Altair has created a digital twin partnership center

Altair, together with L&T Technology Services, has opened a Center of Excellence for digital twins. For Altair, this is a valuable partner capable of helping to develop this promising area.

Digital twins are detailed virtual copies of complex engineering systems, such as production workshops with all equipment, power lines, material supply systems, fire safety devices, and so on. Such twins are used for daily equipment monitoring, as well as for designing new facilities or upgrading existing ones.

It is expected that demand for technologies for creating and managing digital twins will grow in the coming decades. L&T Technology Services has already successfully used Altair's design platform, as well as new tools based on artificial intelligence algorithms.

Now, the companies are jointly creating a center that will experiment with various twin capabilities. In particular, this involves integration with AI for predictive maintenance, i.e., detecting faults before equipment unexpectedly fails. Such maintenance has become a standard in many industries, such as energy. Other organizations, such as utility and logistics companies, are also interested in automating maintenance due to labor shortages.

An important task for the CoE will be to find new areas for applying Altair's technologies — it is not excluded that the companies will be able to find new targeted markets.

On August 7, ALTR stock traded at $85.4. The market capitalization amounted to $7 billion.

Source: ffin.kz