Digital transformation in the utilities sector is the process of adopting new digital ways of working, often with a business goal for utilities to reinvent themselves. Our “see, think, do” approach to transformation means we can help you identify needs and opportunities, visualize your future state, thoughtfully design processes and strategies to support your “to be” vision, and perform the hands-on work for turning that vision into a reality. The first iteration of the Blueprint was launched by the Protected Utility Program in March 2020 and was developed in partnership with Microsoft and independent security assessors. Digital transformation: focus on the utilities industry Among the industries facing big challenges and having tremendous opportunities in digital innovation and transformation is the utilities industry. The changes ahead bring new complexities and new potential value—and force utilities to up their digital capabilities. For more than 25 years, Reid has specialized in the delivery of business and technology enterprise tra... More, Ben is the leader of Deloitte’s US Consulting Power, Utilities & Renewables practice, Deloitte Consulting LLP. The disruption of COVID-19 has accelerated digital transformation in almost every industry. Long-term success comes from a more focused approach, harnessing digital capabilities to meet the challenges that utilities … Data collection is just the first step. And how will your digital utility incorporate the Internet of Things (IoT), in-memory computing, analytics and cognitive tools, augmented/virtual-reality capabilities, and wearables to revolutionize business processes? Its main goal was to keep the lights on without breaking the bank. The 2020 Human Capital Trends focus on answering a paradoxical question: Can organizations remain distinctly human in a technology-driven world? On the customer front, the future likely will bring advanced interconnected solutions and self-service. The pandemic forced utilities to veer away from traditional ways of conducting Ultimately, how will your organization become more agile than it is today, and how will it stay agile? To expand the capabilities of their current assets while preparing for the infrastructure of tomorrow, utilities are beginning to undergo a full digital transformation that includes changes to … The Consumer Council for Water (CCWater) allows retailers to submit complaints on a monthly basis, which helps the council to identify and solve problems with non-domestic water supply. Among the (really many) challenges facing the utilities industry overall (and making abstraction of regional differences): The graphic below summarizes just a few of the mentioned challenges. So, let’s look at some of the technological evolutions playing a crucial part in the utilities industry. Jian Wei is a principal leading digital transformation in Deloitte’s Power and Utilities practice. The article also states that only a … Are you looking at talent needs and the future of work through a digital lens—or the same old lens? Digital Transformation for Power Utilities Projects. What are you doing to take advantage of these new technologies and stay ahead of the pack? They all will be integral pieces of the digital utility future. Why Utilities Need Digital Transformation Mitigate revenue threats with digitized assets, mobile field operations, and connected remote teams It's easy to assume - looking at industries like media, retail, … Digital Transformation in utilities and construction is no longer a luxury or an afterthought. Please see www.deloitte.com/about to learn more about our global network of member firms. According to an article in one of the premium publications, only one in ten pursue digital transformation outside of pressure from regulators, customers, or competition. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities and choices around their energy use. System of engagement ArcGIS integrates all types of data, gives all users access to the data they need for better collaboration, and supports digital transformation. Emerson’s Juan Panama and Mark Jordan presented on building the utility of tomorrow, today at the 2019 Ovation Users’ Group conference. Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. Digital transformation in the utilities industry is going to the next level. The company sums up the business imperatives, challenges and solutions in three segments: The infographic and where digital technologies, the digital landscape and transformational initiatives fit in, speaks for itself so check it out. End-End integration of sensors/assets, enterprise systems to help transform from a traditional utility provider to a digital player Together, big data, Internet of things (IoT), artificial intelligence (AI), machine learning (ML), augmented reality (AR), virtual reality (VR), and other revolutionary technologies offer the promise of a brighter future for energy and utilities companies. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. As in all industries, end-to-end process automation is a core catalyst for digital transformation with connected devices, consumers, operations, and utility … Share. With the added strain of the COVID-19 crisis further stretching municipal budgets, creating remote workforces overnight, and introducing a new level of uncertainty, it’s imperative that IT leaders of public utilities take a hard look at systems and processes to begin the process of digital transformation now. For example, the digital transformation of utilities can improve the efficiency of power generation and the transmission and distribution of electricity, all while providing consumers with more capabilities … Utilities need not necessarily have contingency plans in place for every possible digital scenario. digital twins enabling to build replica of assets in the cloud for optimization of design, engineering planning, maintenance and so forth, de facto needing a range of other technologies, including mentioned ones such as IoT and artificial intelligence) – the graphic below shows some forecasts in that regard (and on how these technologies will be used from the mentioned IDC top 10 worldwide utilities predictions 2019. Projects that were languishing were suddenly boosted to the top of the management priority list. Read on for the top benefits to digital transformation in the utilities industry. April 10, 2018. The Future of Utilities: Powered by Connectivity. Digital transformation ahead To realize these digital opportunities, utilities need to transform operations. Most leadership teams understand the … For the Power Utilities industry, there are two key factors driving the move toward digital technologies. While solid and dependable, the sector wasn’t generally considered cutting-edge, innovative, or exciting by any stretch of the word. We found plenty of uncertainties, but four scenarios clearly emerged based on our research. Customer experience transformation requires organizations to make decisions based not only on business and shareholder value, but also on value created for customers and communities. Do you know and understand your organization’s digital DNA—the core traits that can help you operate and innovate in the future, such as your ability to collaborate intentionally, “democratize” information, and operate with morphing team structures? Get your Free Digital Adoption … For utility firms the challenge is not just to review, optimize and transform existing processes and business models. More about security in the utility industry in the article on the utility industrial control systems security report. However, new revenue models and sources, as well as opportunities of process improvement from various possible angles are universal across the utility chain. In general, operations involve allocating, scheduling and deploying a variety of personnel, equipment, tools and vehicles that ensure a utility… Today, digital is transforming the way power and utilities companies operate—how they create value, serve customers, manage costs, optimize processes, and capture new market opportunities. The Protected Utility Blueprint. Digital Transformation in Power & Utilities Digital is transforming many industries, and the power and utilities industry is no exception. As part of its digital transformation, a leading competitive energy retailer is re-organizing around customer journeys in order to break down channel-based siloes and to foster collaboration. Digital has helped many organizations generate greater efficiencies across their operational business units, significantly improve customer experience, and accelerate innovation to allow them to stay ahead of the competition in rapidly changing markets. Given the importance of the utility industry (critical), cybersecurity is at least as essential. What’s your plan for moving forward? How the Program supports agencies See Terms of Use for more information. There are many players in the utility chain so the challenges, evolutions, technologies and transformations are not the same for all components of that chain. Virtual-reality-based training, digital twin assets, mobile work tools, preventive asset maintenance capabilities, and machine intelligence for supporting utility network management. Amidst the rapid digital transformation sweeping across utility companies, CIOs are often caught between reconciling legacy and new systems, faced with … are such complex ecosystems. The digital transformation will have a great impact on consumers and I think it is very important to ensure that any change comes with a communication strategy to convey the effects of the digital transformation to all 'digital' stakeholders, including consumers, workers, regulators, ecosystem actors, etc. Intrigued? This third article on digital transformation for utilities will discuss applications of digitalization at the heart of any utility. It caused a systemic shift in technology adoption, from the very beginning of the pandemic. US Energy, Resources & Industrials Industry Leader, Telecommunications, Media & Entertainment, Activate the digital utility with Deloitte, Organizations that are ‘walking the talk’. When conveniently used, AMI can help utilities take their digital transformation to the next level. ArcGIS gives utilities a complete data model, providing ease of editing, expanding connectivity capability, and scaling to any size. Why Utilities Need Digital Transformation. Thepower and utilities sector was traditionally where many parents or grandparents parked their savings as they got older, attracted by low volatility and stable returns. How will you respond? Amihan provides digital strategy & consultation and technology solutions to help utility companies drive their digital transformation journey forward.. From data analytics to process automation to cloud … How can utilities address carrying cost and regulatory lag? Ongoing business disruption, data growth, and the decarbonization trend are putting businesses to the test, but utilities today stand on the edge of something big: a new era of opportunities and previously unimagined outcomes. 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