Tipping Points for Utility Innovation
- Jan 25, 2022 7:56 pm GMT
This item is part of the Special Issue - 2022-01 - Power Industry 2022 Trends & Predictions, click here for more
Companies known for innovation not only thrive on creativity and “out of the box” thinking, but also the processes that rapidly bring those ideas to life—challenging the veracity of the idea, identifying and testing key use cases, and (where practical and feasible) quickly scaling those applications to drive business success. Success is characterized not only by their bold vision for change, but also their ability to accelerate the latter stages of the innovation “process” to more quickly harvest value from those innovations.
Utilities have been talking about business transformation and innovation in one form or another for pretty much the industry’s entire existence, though with a good deal more verve over the past couple of decades. Our industry today is certainly chock full of innovation trials and pilots, with many of these recently entering the stage at which programs can be fully integrated, scaled and harvested for their intended value. Some are there now, with many more looking poised to thrive in 2022.
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