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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.
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
have implemented digital transformation but unclear on what new business models will emerge
have invested in physical infrastructure to handle Distributed Energy Resources (DERs)
have invested in customer services
of executives say opportunities to earn revenue from new business will force significant investments in budget and time.
have an enterprise risk business unit
have an IT strategic planning group
with just designated business units to explore new business models