Digital-Twin technology can be considered as a giant step toward Industry 4.0. Automated product life-cycle development that can be achieved by digital-twin and AI solutions is of a high concern recently both in academia and industry and it is highly expected to witness a raid growth in the coming few years. This paper investigating the different enhancements can be achieved by digital twin powered-AI technology in each product-life cycle development. This includes the design phase, the build phase and the operational phase of the modern product-life cycle development. The aim of such investigation study is to clearly identify how digital twin technology and AI solutions can enhance each phase of product-life cycle. This allows organizations to clearly understand the contributions of digital twins and AI technologies in their plans and objectives towards successful industrial digital transformation with high return of investments.