More

    Renault Metaverse Aims to Save $330 Million by 2025

    The French company Renault, one of the biggest automakers in the world, announced that it has built the first industrial Renault metaverse. In detail, the Renault production lines will supply data to this Web3 world. Allegedly, this venture will result in a huge positive impact.  

    Jose Vicente de Los Mozos, Executive Vice President of Renault industry group, stated: “Every day, billions of pieces of data are collected within Groupe Renault’s industrial sites. The metaverse provides real-time monitoring that increases the agility and adaptability of industrial operations, as well as the quality of production and the supply chain.” Sounds promising!

    The Renault Metaverse: Introduction

    In a nutshell, it is basically a replica of the factories and production lines the company operates. But in a virtual world! Sounds simple enough… Moreover,  it is fueled by a series of processes that allow the company to monitor data from all of its production lines. Nothing will be left to chance! 

    This industrial world interconnects the physical IRL production lines, monitors the totality of the supply chain, and almost all of the supply flows. Evidently, this will drastically reduce any risk of error or fault. 

    Already, the Renault Metaverse safeguards the production process of the company. For instance, some of its components allow it to detect 300 alerts, avoiding 300 production line halts. In the long run, this’ll save big bucks!

    The Value Behind The Renault Metaverse:

    According to Patrice Haettel, vice president of industrial strategy and engineering, “This industrial metaverse is unique and allows us to activate efficiency and performance levers that were previously invisible, to the benefit of people and the environment”.

    In detail, this industrial metaverse is a unique application of how Web3 can facilitate our day to day lives. In this case, it will activate efficiency and performance levers in the company that were not previously possible. The Renault Metaverse promises to fulfill many objectives, this includes:

    • It will generate savings of $330 Million by 2025. 
    • It will reduce vehicle delivery time by 60%.  
    • Also, it will reduce  the carbon footprint of vehicle manufacturing by 50%.
    • The Renault Metaverse will aid in reducing the Group’s target guarantee costs by 60%. 

    The 4 Dimensions of Building The Renault Metaverse:

    1. Data Collection: The Renault Group developed a unique data capture and standardization solution, a platform to collect big data to feed the industrial Metaverse and thus provide the levers for production process performance in real time. This solution is now being marketed in association with ATOS to other industry players, under the name of the ‘ID@Scale’ project.
    2. Modeling Physical Assets into Digital Replicas: The Supply Chain has its own digitized universe. Also, each factory has its replica in the virtual world. A control tower will monitor each virtual and IRL factory in real time.
    3. Integration into an extended ecosystem: Digital replicas in the Renault Metaverse are backed-up with supplier data, sales forecasts, quality information, and more information such as weather or road traffic, etc. In addition, AI will develop predictive scenarios.
    4. Acceleration of Digital Transformation: This is possible by the cross-utilization of advanced technologies (Cloud, real time, 3D, data and more). Thus, this ensures the systems run in a strong manner.

    Conclusion:

    Generally speaking, the metaverse advanced quickly and into many industries beyond just software and tech. Basically, this combination of AI and AR is dramatically changing the way we perceive our mundane tasks and jobs. We are overstepping from simple NFTs with utilities to a whole digitized workforce! Furthermore, the automotive industry, taking the Renault metaverse as an example, is deep-diving into the many possibilities the metaverse can offer. And we are seeing a break-through in the untapped potential that lies ahead. What will the metaverse hold for the Automobile industry’s future? We’ll have to wait and see!

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Stay in the Loop

    Stay in the loop with blockchain Witcher and get the lastest updates!

     

    Latest stories

    You might also like...