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24 May 2024

Scenario simulation in real time (Glossary)

Artificial intelligence Industry and Factory 4.0 Automation Digital transformation AI Glossary

The term "real-time scenario simulation" is particularly at home in the categories of artificial intelligence, automation and Industry 4.0.

A scenario simulation in real time means that different situations and processes can be simulated immediately, i.e. without any time delay, using computers or modern software systems. The special feature is that changes or new data are immediately incorporated into the simulation and the effects are immediately visible. This makes it possible to make decisions quickly and reliably without taking risks in the real world.

An illustrative example: In a modern factory, scenario simulation can be used to test in real time how a sudden machine failure would affect the entire production process. Those responsible can immediately see which areas are affected and can make targeted adjustments to emergency plans before things come to a standstill.

This technology can be used to save costs, reduce downtimes and efficiently control production or processes. Real-time scenario simulations are therefore finding more and more applications - including in the fields of logistics, energy supply and even healthcare.

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written by:

Sanjay Sauldie

Sanjay Sauldie is a digital strategist, speaker and developer of the transruption toolkit, which companies can use to make their digital transformation measurable, human and sustainable. With kiROI - the AI-based approach to value creation in the digital age - he helps self-employed people and companies to integrate artificial intelligence into their processes in a practical way. With his outstanding marketing strategy iROI, he has already led countless companies to greater visibility and thus more profits. He combines digital innovation with disruptive thinking models for a sustainable business strategy. He studied mathematics and computer science at the University of Cologne, completed a Master of Science in Digital Disruption at the University of Salford (UK) and a Design Thinking programme at MIT/EMERITUS Singapore. As a multiple award-winning expert - including the Golden Web Award and the Innovation Award of the Initiative Mittelstand - he advises SMEs and corporations. His motto: "Digitalisation is not an end in itself - it must serve people."

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