The Importance of Innovation in the Utility Industry
- Jul 20, 2019 12:44 am GMT
As irreversible change takes place in the utility industry, companies are turning to digital technologies and a more innovative mindset. From new technologies, regulatory changes, rising costs, and a growing call to decarbonize, disruption is forcing the utility industry to change.
Emerging technologies have a critical role to play, and utilities need to embrace them and the opportunities they present.
Technological advancements are transforming business and operating models in the areas of connectivity, automation, and artificial intelligence. These changes are blurring the lines between sectors and creating exciting new possibilities.
Connectivity: The Internet of Things (IoT) is enabling usage-based revenue models. A fusion of technological platforms, data, and physical devices is unlocking new approaches. Blockchain is bringing about the development of decentralized business models.
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