Change came swiftly, dramatically, and unexpectedly for utilities when the pandemic struck. How work is done continues to morph. Embracing digital technology enables utilities to manage the new variations proactively and productively, according to International Data Corp. (IDC).
The future of work is fraught with many unknowns: where and how tasks will be done, how economic pressures will change job opportunities, and the impact of social, skill, and climate concerns. Energy companies need to become agile in order to adjust to the ongoing uncertainty.
Many changes are already taken hold. Hybrid work, once thought to be a temporary means of enabling enterprises to continue business operations through the COVID-19 pandemic, has become a mainstay. So, how what do organizations need to do to adjust to the New Normal?
The Benefits of Digital Transformation Become Clear
Technology offers them a way to cope. Energy companies that invest in digital platforms will see a 40% increase in productivity by 2025, according to IDC. The adoption of automated, cloud-based, and artificial intelligence (AI) solutions increases worker productivity and streamlines business processes.
Deploying leading edge technology makes energy companies more appealing. Utilities that do not offer hybrid work will see a 20% revenue loss in 2024 due to job attrition and underperforming teams.
The pandemic forced energy companies to retool their business processes. Change continues to be a key industry driver. By embracing digital technology, utilities position themselves for success in this dynamic environment.