Intelligent Automation could be the answer to the changing pressures and demands on the utilities industry, but companies need to push ahead on projects, designate a centralized team, and upskill to execute quickly.
Decarbonization, deregulation, and decentralization are the future of the utilities industry, so it’s time to prepare for the future and seize these opportunities.
According to the Capgemini Research Institute report Intelligent Automation in Energy and Utilities: The next digital wave, this movement has the potential to save the global industry between $237 billion and $813 billion in the next three years. It is time for the industry to pay attention.
The U.S. is leading the world, but we need to move faster. Scaling-up initiatives is still critical, even with the significant progress that has been made. Automation initiatives are hitting headwinds in every industry, but the benefits are clear.
More than half (52%) of the industry has adopted artificial intelligence (AI) solutions aimed primarily at core competencies, but only a fifth (18%) of companies are deploying quick-win use cases in core functions. Forecasting, energy trading, yield optimization, grid behavior interfaces, and complaints management all fall under quick wins.
In order to scale Intelligent Automation, you must:
- Find the right use cases to show leadership on how these initiatives fit with the company’s business strategy, competencies, and capabilities.
- Optimize processes before trying to scale, so you have a strong grasp of the process re-engineering and workforce impact before moving ahead. Force-fitting solutions will not give you the gains you want.
- Focus on breakthrough technologies, like machine learning and deep learning, and ensure the right resource allocation.
- Centralize execution, governance, and leadership so there is a dedicated team plugged into the right areas of your business.
- Get your workforce ready with an upskilling program so you have a viable talent pool for execution. This will also help build a culture that embraces digital transformation.
Automation and AI are also essential to meeting climate-change goals and the growing demand for clean, cheap, reliable energy. It is time to achieve greater efficiencies and customer satisfaction. Intelligent Automation is the clear path to the future of the industry.
Beyond simple chatbots, there is value in upstream and midstream activities that can maximize ROI and re-engineer processes. This will help create a culture that embraces automation transformation and provide the skills the workforce needs to scale for success.
Capgemini has the resources and experience to help Intelligent Automation projects succeed. Moving slowly is not an option. Automation can deliver on the new demands of the energy and utilities industry.
To learn more about Capgemini’s practice in this space, contact Gary Coggins, North America Utilities Market Leader, at email@example.com.