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2018 Smarter Utilities Survey Report

UTILITIES PREPARE FOR GLOBAL DISRUPTION

With major disruption well underway, our latest survey and report reveal it’s time for utilities to move beyond standalone projects—and fully commit to the digital enterprise.

VIEW KEY HIGHLIGHTS

CHANGE IS INEVITABLE

The very nature of how energy is generated, regulated and consumed is changing fast. 

Those utilities that can adapt and engage in the new energy economy will be the winners. Those that do not may face significant loss of market share...or worse.

In our Smarter Utilities Survey of 2018, Ovum and Cognizant asked 100 utilities leaders around the world how prepared they are for the transformation journey ahead. While 42% of respondents say they are implementing digital transformation to prepare for the future, much of their effort is narrowly focused on improvements to customer service and the grid. We found similar results in our Smarter Utilities Surveys from 2016 and 2017.

But is that enough? Our latest research shows that today’s initiatives are too often limited to one-off projects. What’s needed for long-term growth is a comprehensive digital approach that focuses on innovation and supports rapid business model transformation across the enterprise. Next-gen technologies cited with the most potential to achieve this include artificial intelligence, the Internet of Things, digital assistants, robotics and data analytics.

Guide to the Digitally Enabled Utility

Utilities have entered an era of unprecedented upheaval to their traditional business. Find out what executives believe are the most significant disruptors—and how they plan to deal with them.

READ THE RESEARCH

Utilities say they are implementing digital transformation...

yet most have not yet taken an enterprise-approach to preparing for the future.

42%

have implemented digital transformation but unclear on what new business models will emerge

63%

have invested in physical infrastructure to handle Distributed Energy Resources (DERs)

38%

have invested in customer services

Utilities see changing conditions disrupting how they conduct business today.

75%


of executives say opportunities to earn revenue from new business will force significant investments in budget and time.

While most utilities believe advanced technologies will force changes in their business models...

many rely on organizational structures that cannot sustain true transformation.

67%

have an enterprise risk business unit

61%

have an IT strategic planning group

42%

with just designated business units to explore new business models

PREVIOUS SMARTER UTILITY SURVEYS

2017 Smarter Utilities Survey—Programmable Grid

We interviewed 100 utilities to understand the drivers, threats and opportunities for transformation to a Programmable Grid. Using our Programmable Grid Maturity Model, we benchmarked utilities current and aspirational status and the steps to close the gap.

2017 SURVEY VIEW INFOGRAPHIC

2016 Smarter Utilities Survey—Digital Disruption in US Utilities

Cognizant and Ovum interviewed 100 utilities companies, each with more than 100,000 customers, to better understand the impact of digital technology in the energy and utilities industry. Leveraging digital advancements to create new business efficiencies and reduce operating costs is trend on the rise in this industry.

2016 SURVEY VIEW INFOGRAPHIC

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Brian Jones

Vice President and Practice Head, Energy and Utilities

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Arvind Pal Singh
Arvind Pal Singh

Utilities Consulting Leader, U.K. & Europe

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