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The EU has created a €1.15 billion public-private partnership called Factories of the Future to advance manufacturing research and innovation. Philips is part of a research project that received funding from the EU to spur manufacturers to make use of “digital twins” – virtual factories created through technologies such as cloud computing, artificial intelligence, robotics and blockchain technology. The idea is to create models of whole manufacturing processes and pinpoint where improvements can be made to help European industry thrive in increasingly competitive international markets.