Altair, LG Electronics Collaborate to Accelerate Digital Transformation with AI-based Simulation for Product Development Companies Sign Digital Transformation and Simulation Memorandum of Understanding TROY, Mich. , July 11, 2022 |PRNewswire| -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI), recently signed a memorandum of understanding with LG Electronics (LG) to accelerate the digital transformation of product development. Together, Altair and LG will promote research and development and the construction of a simulation platform. The two companies will share information in priority fields of research, including computer-aided engineering (CAE), data analytics, automation, and more. Altair and LG Electronics sign MOU to accelerate digital transformation with AI-based simulation for product development In addition, the two companies plan to build a more advanced digital transformation development environment by integrating LG''s product development technology with Altair''s simulation and AI technology. Together, the companies will cooperate on CAE|automation platform development and digital twin technology, which LG uses to develop products. "Altair has the advanced simulation, high-performance computing, and data analytics technology to support manufacturing companies as they develop products quickly and efficiently," said Sam Mahalingam , chief technology officer, Altair. "Through this cooperation with LG, we will develop a powerful and reliable technological foundation that will enhance LG''s competitiveness." By building a digital development environment using AI-based simulation technology, it''s possible to minimize the need for physical testing in the product development stage and reflect feedback gleaned from data analytics and optimization technology.