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Digital twins enable the modeling and simulation of real-world entities
(objects, processes or systems), resulting in improvements in the associated value
chains. The emerging field of quantum computing holds tremendous promise for
evolving this virtualization towards Quantum (Digital) Twins (QDT) and
ultimately Quantum Twins (QT). The quantum (digital) twin concept is not a
contradiction in terms - but instead describes a hybrid approach that can be
implemented using the technologies available today by combining classical
computing and digital twin concepts with quantum processing. This paper
presents the status quo of research and practice on quantum (digital) twins. It also
discuses their potential to create competitive advantage through real-time
simulation of highly complex, interconnected entities that helps companies better
address changes in their environment and differentiate their products and
services.