The Economics of Digital Twins
Open accessAbstract
Digital twins provide a number of economic, health, social, and environmental benefits. Their value can be amplified by combining them with other technologies and tools.
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It is difficult for designers to mimic or model behaviors that cannot be explained by numbers, such as social conflicts, sociopolitical issues, social inequality and environmental sustainability.
“It is difficult for designers to mimic or model behaviors that cannot be explained by numbers.Such is the case of social conflicts, sociopolitical issues, social inequality [79] and environmental sustainability [80].”
From Digital Twin Technology Challenges and Applications: A Comprehensive Review (2022) · cites this paper as [79]
The LIMITATIONS AND BARRIERS section says digital twins may not help address social inequality and are unlikely to address underlying sociopolitical issues. It does not say designers cannot model behaviors that resist numerical explanation, or discuss social conflicts. Environmental sustainability has a separate citation [80] in the citing sentence and is not assessed against this source. (LLM, conf=0.85)
Experimental — accuracy not yet measuredIn the Latin American context, the challenges for digital twin implementation are greater due to limited access to high-end technology in developing countries.
“Addressing research subquestion SQ2, in the Latin American context, the challenges are greater due to limited access to high-end technology in developing countries as exposed by [79].”
From Digital Twin Technology Challenges and Applications: A Comprehensive Review (2022) · cites this paper as [79]
The “Limitations and Barriers” section says developing economies face barriers to using digital twins because of limited digitization, computing power, and bandwidth. It does not specifically address Latin America, so the regional application is not established by this source. (LLM, conf=0.84)
Experimental — accuracy not yet measuredDue to the expensiveness of digital twin implementations, their accessibility is limited by the accessibility of such resources, which is often poor in developing countries.
“Due to the expensiveness of DT implementations, their accessibility is limited by the accessibility of such resources, which is often poor in developing countries [79].”
From Digital Twin Technology Challenges and Applications: A Comprehensive Review (2022) · cites this paper as [79]
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- Authors
- Kshetri, N.
- Affiliations
- University of North Carolina at Greensboro (US)
- Corresponding author
- Kshetri, Nir
- ORCID
- Kshetri, Nir
- Venue
- Computer
- Published
- 2021-04
- Volume
- 54
- Issue
- 4
- Pages
- 86-90
- ISSN
- 0018-9162 (ISSN-L)
- 1558-0814
- OpenAlex
- W3156042261
- Cited by
- 39
- References
- 8
- Citations by year
- 2026: 6 · 2025: 10 · 2024: 9 · 2023: 7 · 2022: 5 · 2021: 2
- FWCI
- 2.97
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Licence
- Locations
- Computer (publishedVersion)
- NC Digital Online Collection of Knowledge and Scholarship (The University of North Carolina at Greensboro) (submittedVersion)
- Topics
- Physical Sciences › Engineering › Industrial and Manufacturing Engineering › Digital Transformation in Industry
- Social Sciences › Business, Management and Accounting › Strategy and Management › Digital Economy and Transformation
- Social Sciences › Business, Management and Accounting › Management of Technology and Innovation › Digital Innovation in Industries
- Keywords
- digital twin, economic value, technology integration, health benefits, social benefits, environmental benefits
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