Utility Week

Operations & Assets UTILITY WEEK | 3RD - 9TH MAY 2019 | 25 Expert view Be tech-ready T hat technology is changing the world is no longer in doubt. But when it comes to how to manage the changes that the digital age is bringing about, there's all to play for. For those organisations oper- ating in the utilities sector there are various sets of technologies that are reshaping – or have the potential to reshape – how they interact with customers, supply chain partners and their own staff. Our research shows that not all water and energy companies have a clear strategy on how best to make these technologies work for them. However, we believe that not only are all these technologies valuable, but that ignoring them could leave businesses trailing peers in performance levels and competitive relevance. The results show that organisations currently have a much clearer understanding of and vision for Internet of Things (IoT) technologies and artificial intelligence (AI) than they do for virtual or augmented reality and blockchain. Well over half of the organisations we surveyed have live applications for IoT or AI, while that number dropped to less than 20 per cent for virtual or augmented reality, and under 10 per cent for blockchain. This is perhaps unsurprising – IoT and AI are fundamental building blocks for all future utilities. They underpin ambitions for smart homes and smart infrastructure. However, none of the technologies we asked about in this research should be taken in isolation. Indeed, a good strategy for the medium to long term should be flexible enough to adapt to innovation in any of the technology types discussed here and we have seen in our work with utilities around the world that all of them have a part to play in allowing organisations to achieve the efficiencies and service improvements they desire. The power of virtual or augmented reality in revolu- tionising field operations and personnel training should not be underestimated. And blockchain has real scope to transform interactions between today's market segments and data silos, again allowing for a new age of innova- tion in utility business models, services and customer experience. Whatever strategy companies ultimately pursue, an experienced and knowledgeable techn ology partner is an invaluable resource to help guide them through their digital futures. Sarat Chand, general manager, Wipro DO YOU HAVE LIVE APPLICATIONS OF THE FOLLOWING IN YOUR ORGANISATION? Yes No Don't know Internet of Things 10% 5% 0% Artificial intelligence 8% 6% 1% Virtual/augmented reality 4% 10% 1% Blockchain 3% 11% 1% DO YOU FEEL YOUR ORGANISATION IS READY AND ABLE TO EXTRACT VALUE FROM THESE TECHNOLOGIES? (PLEASE SELECT THE OPTION WHICH MOST CLOSELY REFLECTS YOUR VIEWS) 0% 20% 40% 60% 80% 100% Yes No, the way organisational data is stored and used does not yet fully support the tech No, we have not deployed widely enough yet to extract value No, there is resistance to deployment from the workforce undermining our ability to do so No, we don't have a clear strategy for this technology yet Internet of Things Artificial intelligence Virtual/ augmented reality Blockchain Your strategy must be flexible enough to cope with any eventuality, says Sarat Chand. "A good strategy for the medium to long term should be flexible enough to adapt to innovation in any of the technology types discussed here."

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