Power and Utility will always be recognized for their commitment to moving forward year after year with a focus on reliability, safety and affordability, and 2018 isn’t any different. Technology is increasing by leaps and bounds, affecting every industry vertical and it is an exciting time in the power and utility industry.
These are my top five trends.
#1 Increasing resilience:
Hurricanes, snow storms, fires, floods and man made threats. This industry has always been tested like none other and they will need to continue to be ever vigilant to keep up with these threats.
#2 Cost saving technologies:
With the introduction to new “smart” technologies to help consumers save money and decrease energy consumption, this industry will be able to continue to provide affordable rates and keep up with essential internal investments, which could also lead to consumer decisions about switching your water supplier or contacting them to discuss a drop in pricing.
#3 Evolving for population growth and output:
Population growth will always be a focus for this industry. Not only does the physical backbone need to be “hardened” to maintain reliability, but the technological systems need to stay modernized to respond to their ever changing energy needs.
#4 AI and Automation starts to come into focus:
Utility companies will look to AI and Automation to help maintain cost effectiveness and keep agile with staff growth. This will help to evolve their business from operations to the back office.
#5 Continually improving the Customer Experience:
In any industry, keeping the customer happy is number one and it is no exception here. Processes and practices will continue to be improved insuring customers easy access to their information and their experience is consistent.
It is a bright future for the power and utilities industry, filled with innovation and exciting technology. From AI and robotics, innovations in battery technology to smart homes and self-powering communities, the next ten years should be a paradigm shift from what we now know.
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About the Author:
Jim Bondurant is top performing Strategic Solutions Executive at Paradigm Technology. Jim is focused on our power, utilities and logistics division and he can be contacted at firstname.lastname@example.org
About Paradigm Technology:
Paradigm Technology is a strategic consulting company serving the utilities banking, airline, manufacturing and high-tech marketplaces. We utilize innovative business and technology solutions to help clients enable their digital transformation programs, and improve their Analytics, Cloud, Master Data Management, and Project Leadership solution delivery. Paradigm is ready to support you in your business journey. For more information about Paradigm Technology, email email@example.com or visit us at www.pt-corp.com.