- The leading electronics industry company released a report examining the industrial metaverse; plans to organize a webinar next month on the same topic
- The report pointed out that the manufacturers will be the first to benefit from this space
Lisle-headquartered Molex, a leading global electronics and connectivity innovator, recently released a new report examining the emerging world of the industrial metaverse and its impact on next-generation Internet of Things (IoT) infrastructures. The officially released statement said that it gives pragmatic insights into the integration of physical and virtual technologies. It further said that it would help companies prepare for what lies ahead, by suggesting processes to speed product-design cycles while improving production-line efficiencies and economics.
The report titled ‘Unleashing the Power of the Industrial Metaverse’ pointed out that the manufacturers will be the first to benefit from the convergence of physical and virtual processes. It said that a robust industrial metaverse will deliver unprecedented value, starting with the design and ideation phase of product development all the way through manufacturing, sales, service and maintenance.
Consumer-focused Applications
It is noteworthy that Molex and Arrow Electronics jointly facilitated the preparation of this report to offer perspective on how the industrial metaverse will transform manufacturing through increased adoption of Artificial Intelligence (AI), Augmented Reality/Virtual Reality (AR/VR), digital twins, Machine Learning (ML) and predictive analytics. These technologies are already supporting process optimization, manufacturing automation, remote assistance, and training, as well as predictive maintenance. As these use cases gain traction and stability, the report suggests, they will create momentum for consumer-focused applications by facilitating faster inflexion points and quantum leaps in productivity.
Chief Digital Officer at Molex, Mike Giresi said: “One of Molex’s greatest assets is our engineering expertise, and the industrial metaverse will streamline everything from product development through commercialization and ultimately fulfilment.” Giresi admitted that modernizing IoT infrastructure to take full advantage of the metaverse is a strategic business imperative that will result in deeper, more productive customer experiences and richer data insights today and well into the future.
Webinar
Apart from this report, Molex also intends to organize a webinar called “Unlocking the Potential of the Industrial Metaverse” next month. Its expert panel will feature Samantha G. Wolfe, Founder of PitchFWD, an emerging tech consultancy, adjunct professor at NYU’s Steinhardt School and co-author of ‘Metaversed’; Mark Schuerman, Senior Business Development Manager, Molex and industrial automation expert and Rob Meyer, Digital Engineering Manager, Arrow and lead technical consultant for e-commerce operations.
US-based Molex is a global electronics and transformative technology leader, with a presence in over 40 countries. It claims to enable innovation in the automotive, data centre, industrial automation, healthcare, 5G, cloud and consumer device industries, through its engineering expertise and product quality and reliability.
