Digital Twin - Dynamic Virtual Copy

1. A digital twin is a dynamic virtual copy of a physical asset, process, system or environment that looks like and behaves identically to its real-world counterpart. A digital twin ingests data and replicates processes so you can predict possible performance outcomes and issues that the real-world product might undergo.

2. The power of digital twins comes from connecting real-world assets with real-world data, so you can better visualize them. Digital twins enable cross-functional teams to collaboratively design, build, test, deploy and operate complex systems in interactive and immersive ways. They help companies understand the past, view present conditions, and prevent future problems. They inform decision-making through sales and marketing insights, analysis, 3D visualization, simulation, and prediction.

Malaysia is expected to be the largest beneficiary from Regional Comprehensive Economic Partnership (RCEP)

1. As the Regional Comprehensive Economic Partnership agreement entered into force for Malaysia on Friday, China and Malaysia began to impose RCEP tariffs on each other, which will bring new economic cooperation opportunities.

2. Within ASEAN, Malaysia is expected to be the largest beneficiary of the agreement in terms of gains in exports, with a projected $200 million increase, according to the country's International Trade and Industry Ministry.

3. Under the RCEP agreement, the two countries commit to expanding market opening on the basis of China-ASEAN Free Trade Area Agreement, and some goods can enjoy new tariff preferences.

CPTPP Partner : Malaysia & Canada

1. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a trading block that represents 495 million people with a combined gross domestic product of CAD $13.5 trillion – a full 13.5% of global GDP. Through the CPTPP, Canada has preferential access to half a billion consumers in some of the world’s most dynamic and fast-growing markets, which will strengthen Canadian businesses, grow the economy, and create more well-paying jobs for middle class Canadians.

2. The CPTPP entered into force for the first six countries to ratify the Agreement – Australia, Canada, Japan, Mexico, New Zealand, and Singapore – on December 30, 2018, for Vietnam on January 14, 2019, and for Peru on September 19, 2021. For the remaining signatories (Brunei, Chile, and Malaysia), the CPTPP will enter into force 60 days after that country ratifies the Agreement.

Key Differences Between Automation & robotics and How Robotics Solving Labor Shortages

1. Here are the key differences between automation and robotics and how to use them to your advantage.

2. Robots have emerged as the top solution to labor shortages. Persistent labor shortages have since debunked the idea that robots are somehow stealing jobs from humans. On the contrary “ robots are enabling humans to go after the jobs they truly want.