What is digital transformation in utilities?
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. Common business goals include improved interactions with customers, more streamlined operations, greater efficiencies, and hopes of triggering new business models.
What are the business benefits of digital transformation in utilities?
Although transformation has been slow to arrive for the utility sector, those companies that do implement digital technologies and adopt news ways of working can benefit greatly. Utility executives using expert systems based on Artificial Intelligence (AI), for example, can gain new business insights and optimize processes by analyzing large data sets quickly. Safety, regulatory and compliance-based systems can be improved by helping employees better monitor and control policies. Meanwhile and of significant importance, digital transformation can help utilities improve customer service operations and explore new business models. This can enhance customer satisfaction, reduce churn and lead to new products and services.