The Inescapable Impact of Innovation
- Aug 5, 2021 7:23 am GMT
By now you’ve heard about the semiconductor chip shortage but perhaps you haven’t calculated the long-term effects and the inescapable impact it is having across all industries. Semiconductors enable functions such as high-computing, operations control, data processing, storage, input and output management, sensing, wireless connectivity, improved efficiency and power management. Did you catch that last one? Power management systems have been and will be impacted by this shortage. Because the utility industry, as a whole, has become more and more dependent upon digital processes and components, technologies like IoT, artificial intelligence, augmented and extended reality, blockchain, specialized sensors, integrated circuits, improved memory, and enhanced processors are all imperative to daily operations. They are inter-connected and powered by semiconductors which are necessary for the modern-day energy sector. This crisis is a result of the pandemic, inadequate investments in wafer capacity, supply chain disruption, rising demand from new technologies and work from home products. Wafer capacity refers to the limited number of chips that can be fabricated per disc before being cut into individual chips. Perhaps that’s a story for another time but acknowledging the import of the situation and putting it into simpler terms, the Biden Administration called the much-in-demand semiconductor chip the new universal currency.
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