LG partners with Siemens to co-develop intellectual manufacturing solutions
SEOUL, AJU - LG Electronics has forged a strategic partnership with German industrial manufacturing company Siemens to collaborate in the development of intellectual manufacturing solutions which would increase both the productivity and efficiency of manufacturing facilities by accelerating digital transformations.
Digital transformation is a term used in the manufacturing sector to describe transformation from a company which uses conventional manufacturing methods to a digitalized, automated manufacturing company using new technologies such as artificial intelligence (AI), big data and 3D printing.
LG said in a statement on Wednesday that the company signed a memorandum of understanding with Siemens to co-develop intellect manufacturing solutions. The two companies will focus on the research and development of “Digital Twin” and the digitalization of manufacturing techniques such as 3D printing of molds and equipment.
Digital Twin is a digital solution which creates a clone of an object inside a virtual world to simulate real-world problems. For example, virtual cloning and testing technology can find how a warehouse would survive in natural disasters.
3D printing technology is a key technology of the Fourth Industrial Revolution. The modern alchemist tech is widely used in the medical sector to create implants and prosthetics while the manufacturing sector uses it to create metal molds for mass production.