Digital Utility Trends for 2023
- Dec 22, 2022 3:13 pm GMT
Here are three current trends that will continue to develop in 2023:
Increased use of VR
Virtual Reality (VR) is expected to see significant growth in 2023, with 18.8 million VR headsets and other AR/VR devices being shipped worldwide, according to Magnopus. This growth is being driven by advancements in technology that are making VR more accessible and affordable for consumers, including the entry of Apple into the sector in 2023. Use of VR, and perhaps the metaverse, will become increasingly important to utilities to look at operations in real time, for maintenance.
This will be combined with the IoT and Digital Twins, so will be a merging of new and advanced, data-driven technologies.
As one of the digital enablers, Big Data analytics is moving forward rapidly, allowing businesses to collect real-time data and make better, faster decisions by applying sophisticated techniques. Where utilities can deploy Artificial Intelligence (AI); decision-makers can automate manual tasks by performing recurrent, high-volume and computerized tasks much more quickly. As a result, it benefits businesses with highly efficient operations, improved customer convenience and satisfaction, and maximized profit margins by cost reduction, process productivity, and greater product and service innovation.
Cloud-based analytics enables significant cost optimization with its ability to capture massive data oceans in real time; businesses can therefore analyze new sourced data set from the Internet of Things (IoT) via instant analytics and implement efficient and precise decisions as well as product and service developments. This is critical in areas of infrastructure where, for example, resiliency is needed in the face of climate issues like wildfires.
Cloud-based service platforms are also going to be a way of reducing costs, increasing security for a mobile workforce, and pooling applications, to take advantage of the best-in-class developments, rather than committing to server farms and in-house talent.
With an increasingly non-office based workforce, cloud systems make more sense for personnel who are not at a fixed location for most of the working day.
Undoubtedly 2023 will continue the digital transformation that utilities are grappling with, and bring both benefits and challenges.
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