Predictions: Asset intelligence a focus in 2021
- Jan 26, 2021 5:15 am GMT
This item is part of the State of the Industry 2021 SPECIAL ISSUE, click here for more
According to the analysts at Kearney, the next ten years will be an era of fundamental change for the energy sector as more companies leverage digitization with the potential to increase long-term earnings by 25% or more. Energy and technology experts agree that technologies like the Internet of Things (IoT), advanced analytics, artificial intelligence, robotics, and automation are already elevating existing business models and creating new sources of value for utility companies. We can expect to see these trends continue in 2021.
While it seems to be accepted wisdom that utilities are well into their digital transformation journeys, recent Capgemini research found that the sector has underestimated the true potential of digital transformation initiatives, using intelligent automation as an example. In fact, nearly half of the respondents under-estimated the benefits they derived from their digital initiatives. This is no small oversight—researchers estimate that the sector can save between $237 billion to $813 billion from intelligent automation at scale.
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