Towards a Digital Twin of Society

This paper describes the potential for developing a digital twin of society - a dynamic model that can be used to observe, analyze, and predict the evolution of various societal aspects. Such a digital twin can help governmental agencies and policy makers in interpreting trends, understanding challenges, and making decisions regarding investments or policies necessary to support societal development and ensure future prosperity. The paper reviews related work regarding the digital twin paradigm and its applications. The paper presents a motivating case study - an analysis of opportunities and challenges faced by the German federal employment agency, Bundesagentur für Arbeit (BA), proposes solutions using digital twins, and describes initial proofs of concept for such solutions

Towards a Digital Twin of Society

This paper describes the potential for developing a digital twin of society - a dynamic model that can be used to observe, analyze, and predict the evolution of various societal aspects. Such a digital twin can help governmental agencies and policy makers in interpreting trends, understanding challenges, and making decisions regarding investments or policies necessary to support societal development and ensure future prosperity. The paper reviews related work regarding the digital twin paradigm and its applications. The paper presents a motivating case study - an analysis of opportunities and challenges faced by the German federal employment agency, Bundesagentur für Arbeit (BA), proposes solutions using digital twins, and describes initial proofs of concept for such solutions

FinTech revolution: the impact of management information systems upon relative firm value and risk

The FinTech or ‘financial technology’ revolution has been gaining increasing interest as technologies are fundamentally changing the business of financial services. Consequently, financial technology is playing an increasingly important role in providing relative performance growth to firms. It is also well known that such relative performance can be observed through pairs trading investment. Therefore pairs trading have implications for understanding financial technology performance, yet the relationships between relative firm value and financial technology are not well understood. In this paper we investigate the impact of financial technology upon relative firm value in the banking sector. Firstly, using pairs trade data we show that financial technologies reveal differences in relative operational performance of firms, providing insight on the value of financial technologies. Secondly, we find that contribution of relative firm value growth from financial technologies is dependent on the specific business characteristics of the technology, such as the business application and activity type. Finally, we show that financial technologies impact the operational risk of firms and so firms need to take into account both the value and risk benefits in implementing new technological innovations. This paper will be of interest to academics and industry professionals

Maximizing the Value of Internet-Based Corporate Travel Systems

Potentially significant transaction fee and ticket cost savings have created interest among corporate travel managers in investing in Internet-based booking systems, but most adopting organizations have yet to overcome their "limits to value.&quot