The way for E&U organizations to navigate a world of constant disruption is to embrace digital transformation.
Renewables, smart grids, IoT and other emerging technologies are driving exciting new business models in the E&U space. But in order to take full advantage of these innovations, the industry must rethink the way it manages data. The ongoing pandemic laid bare how unprepared we are for major disruptions, sparking an urgency toward digital transformation in virtually every industry. E&U has perhaps more to gain than any other by using this opportunity to reimagine their business with a modern approach to data-driven decision-making and enable themselves with the tools to take on the new challenges facing their industry:
IDC predicts the need for E&U organizations to digitally transform so that they can take advantage of the convergence of big data, IoT, AI, and cloud. It’s imperative that E&U firms invest in these technologies in order to predict disruptions and respond accordingly before they impact the bottom line.1
It’s time for E&U to get smarter.
Digital transformation isn’t only about distributing faster, cheaper, more reliable energy. By integrating IT and operations technology (OT) systems with intelligent, automated workflows, E&U organizations have an opportunity to transcend their status as energy providers and distributors, to become everyday partners with their customers. They will be able to empower customers to save energy and work toward a greener world.
“ Disruptive forces — such as digitization and decarbonization — are only accelerating, and the end of the pandemic is not going to bring a respite for P&U companies. Strategic priorities must be identified, addressed and funded concurrently, and the path forward involves not only the right investments in technology but also in employee skillsets and mindsets.”2
For energy and utilities, there is potential at every level for more efficient and resilient operations along with exciting new business models. Actualizing this potential is a daunting prospect, but the opportunities are well worth the investment.
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