A digital twin of the landmark economic simulator 'The Moniac', the FT Money Machine leverages Apple Vision Pro to deliver an immersive and interactive experience making economics education more effective and accessible
LONDON, Sept. 6, 2024 /PRNewswire/ -- Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, in collaboration with the Financial Times (FT), today announced the digital revival of a pioneering piece of economic history — the Monetary National Income Analogue Computer (MONIAC) — courtesy of a groundbreaking new virtual reality experience, the 'FT Money Machine'.
Infosys and The Financial Times have taken economist Bill Phillips' original invention, a hydraulic analog computer created in 1949 that used water to model and study economic systems, as the foundation for a unique Extended Reality (XR) project which revolutionizes how we learn about economics and ensures education at scale. Emphasizing on 'learning by doing', the new XR app, accessible through Apple Vision Pro and available in the App Store, faithfully recreates the Moniac's functionality while adding new, interactive features. This approach bridges the gap between historical analogue computing and modern digital learning, offering an unparalleled educational experience to the global student community.
Users of The FT Money Machine will not only experience the full operation of The Moniac but also can explore and create their own economic scenarios in free play mode. They will be able to interact with the machine using intuitive gestures such as eye tracking, hand movements, and voice commands, allowing them to adjust variables like consumption, taxation, and investment to see real-time impacts on the economy, as well as understand complex economic interactions, predict outcomes of various policy decisions, and enhance economic modelling techniques.
The FT Money Machine also incorporates the academic backing of the London School of Economics (LSE) and Cambridge University, home to one of the last working original Moniacs. It leverages the creative design and build expertise from WongDoody, Infosys' human experience agency, where WongDoody helped ensure that the FT Money Machine app exceeds user expectations in a seamless blend of historical significance and cutting-edge technology.
James Lamont, Director of Strategic Partnerships at the Financial Times, added, "The FT has always been committed to fostering a deeper understanding of economics, and the FT Money Machine is a testament to that commitment. Our purpose combined with Infosys' strong technical expertise has helped not only revive an important piece of economic history but also will also redefine how we teach and learn about economics in a digital age."
Ashiss Kumar Dash, EVP and Global Head – Sustainability, Services, Utilities, Resources and Energy, Infosys, emphasized, "At Infosys, we are committed to our purpose of leveraging technology to amplify human potential and create the next opportunity for people, businesses, and communities. Our collaboration with FT for this innovative project that bridges historical innovation with today's most advanced digital technologies to deliver education at scale aligns perfectly with our purpose. By recreating the Moniac as the FT Money Machine, we are providing users with a unique educational tool that makes the complexities of economic systems both accessible and engaging, enabling the exploration and understanding of how money flows through an economy."
The FT Money Machine's three-dimensional interface will offer a comprehensive educational tool for students, educators, researchers, and economic enthusiasts, providing a hands-on learning experience that illustrates economic principles in a way that is both engaging and insightful. By embracing new immersive technologies, it will help transcend the limitations of traditional educational tools, making economic education more effective and accessible.
As part of the launch, Infosys and the Financial Times will host an event at London School of Economics (LSE) on September 18 to celebrate the Moniac's contributions to economic theory and education.
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
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