The Digital Twin and P&L of One JD Supra

Innovation in compliance can come in many forms. One such form was described by Vincent M. Walden, Managing Director at Alvarez and Marsal Holdings, LLC (A&M), in his article entitled "Profit & Loss-of-One"(P&L-of-One). In it, Walden detailed how he and his then colleagues at Ernest & Young (EY) worked in conjunction with the General Electric (GE) compliance function to "improve compliance by using forensic data analytics to provide behavioral insights to their compliance program." They did this through the innovative use of "digital twins" which Walden described as "digital replicas of physical assets that organizations can use for multiple purposes such as the maintenance of power generation equipment, jet engines and heavy machinery." In a more expansive definition, the consulting firm Gartner, Inc. described "digital twins" as dynamic software models of physical things or systems.