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A lot of talk, but not as much action - Only 50% of respondents consider themselves in the ‘execution’ phase of digital transformation today, compared to 47% in consideration and 3% with no digital strategy at all.
Talent/upskilling remains a significant challenge – The majority of enterprises (74%) say they are the process of building a digitally-skilled staff but have room to improve. Just 22% describe their in-house digital capabilities today as ‘strong.’
Many companies still just testing the waters – Similarly, 74% of companies say they have adopted ‘some’ digital technologies while just 22% claim ‘broad’ adoption (and 5% no adoption at all).
As digital transformation advances across the corporate landscape, enterprises are increasingly adjusting their focus on operational transformation with new approaches to managing and optimizing energy consumption and power usage – driven by the same digital technologies and insights.
The merging of operational optimization and energy transition efforts to inform digital transformation is a clear best practice to help enable asset-intensive and power-critical firms to fully transform how they do business
Focusing only on process- or people-centric change without considering the major transitions occurring in energy and power is both risky and sub-optimal, leaving significant cost savings and business transformation gains on the table. Energy and power transition is also a critical requirement in its own right, contributing to business and societal goals of sustainability and enhanced Environmental, Social and Governance (ESG) reporting and investing.
Just 24% of industrial respondents chose energy and power concerns as a top digital transformation driver. Those that prioritize it cited renewables adoption as their most critical energy goal. Early adopters that embrace energy and power intelligence could gain significant competitive advantage.
The utility sector is at a critical transition point – it is challenged to keep current grid and service levels in place among increasing demands and aging legacy infrastructure while facing the need to change service models and the opportunity to apply data insights to optimize operations. Digitalization can either be seen as a key to their success or in competition with more pressing challenges.
Being sustainable is the top goal for the sector, prioritized by 46% of respondents over resiliency and inhabitant comfort. ‘Smart building’ efforts targeting sustainability are already underway – 76% of building respondents said they are deploying environmental monitoring digital use cases today, a first step toward broader energy management.
The sector is looking to leverage their inherent digital savvy to leverage energy transition trends to enhance their bottom line and increase shareholder value. Increasing use of renewables (cited by 50% of data center owners), improving energy storage (47%) and making money selling generated power back to the grid (34%) - steps further leveraging energy transition as a key sector change.
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