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The energy and resources sector is undergoing a profound transformation driven by the global push toward sustainability, energy technological advancements, geopolitical risks, and increasing regulatory pressures in some areas of the world. Every digital fabric has horizontal and vertical digital threads. Digital twins are no different.
This is where harnessing artificial intelligence (AI) and data analytics can help. To assist utility companies, IBM has created the Clean Electrification Maturity Model (CEMM) in conjunction with the American Productivity & Quality Center (APQC). This research can enable more liquid markets and lower energy prices for customers.
1 The ratio between man and machine All industries use machines, yet the energy and resources sector including utilities , oil and gas , chemicals , and metals & mining industries is the most capital intensive. trillion of annual capital investment is made in the energy industry today and by some estimates will grow to $9.2
IOWN is all about supporting increased bandwidth, capacity and energy efficiency. Each sensor in each shroud must be uniquely smart and use next to zero energy. Optical technology can enable us to control energy consumption so we can support increasing capacity and increasing bandwidth,” Gomi summarizes.
It is for these same reasons that some RaaS (Ransomware as a Service) offerings utilize the language as well. “ The Snake ransomware targets files associated with SCADA platforms, enterprise management tools, and system utilities. One such example would be Project Root.
For the energy and utilities industry (E&U), time is not on their side. Facts about the energy and utilities industry Transformer prices have doubled, while the average lead time for delivery has at least tripled from what it was two years earlier, reaching 52 weeks in some cases. Visibility.
New developments in renewable energy are making headlines and inspiring hope in communities worldwide, from a remote Arctic village working to harness solar and wind power under challenging conditions to a U.S. Air Force base planning an advanced, utility-scale geothermal power system. Let’s take a look at both.
As more countries, companies and individuals seek energy sources beyond fossil fuels, interest in renewable energy continues to rise. In fact, world-wide capacity for energy from solar, wind and other renewable sources increased by 50% in 2023. What is renewable energy? trillion in 2023. trillion in 2023.
Uncertainty has become the new norm in the energy industry and 2020 promises more of the same. This is due largely to the fact that the oil and gas and utility sectors are heavily impacted by some pretty intense forces – the geopolitical climate, trade tensions and economic fluctuations, just to name a few.
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Delivering on the benefits of data: How utilities can get the first-mover advantage. With the energy transition underway, there is a similar bold “rethink” taking place in the way energy companies view solutions, particularly around managing data. ravi.kumarv@cgi.com. Tue, 04/16/2019 - 04:29. Data is fuelling the future.
Last week industry leaders, experts, and innovators gathered at the Houston Aquarium for the OpenText Energy Summit in Houston , a pivotal event driving conversations on the intersection of artificial intelligence, information management, and energy sector dynamics.
Strategize your next move to become a utilities leader, delivering value at scale and pace. In 2019, our CGI Client Global Insights reveal, once again, that utilities are making considerable progress in their digital transformation journey, with 92% of executives now reporting their organization has a defined digital strategy in place.
Utilities Digital Journey Insights (Part 5): Utilities decentralize organizational models to meet consumer needs. To gain the true value of digital transformation, utilities are embracing more dynamic and autonomous organizational structures that enable them to make decisions closer to the customer. Wed, 03/27/2019 - 03:33.
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Humanizing utility assets: A new approach to using assets to drive automation. As utilities around the world navigate the path to digitalization, addressing growing customer expectations, the pressure to move to a low carbon economy, and changing operating and business models has become critical. Wed, 12/05/2018 - 00:35.
Like every industry, the energy sectors are undertaking digital transformation. But despite years of pursuing operational excellence, many energy companies are still struggling to create an integrated and optimized environment within operations.
Renewable energy is energy produced from Earth’s natural resources, those that can be replenished faster than they are consumed. Shifting to these renewable energy sources is key to the fight against climate change. For example, flow battery technology is being improved to support grid-scale energy storage.
based Dun & Bradstreet [ NYSE:DNB ] is a data analytics company that acts as a kind of de facto credit bureau for companies: When a business owner wants to open a new line of credit, creditors typically check with Dun & Bradstreet to gauge the business’s history and trustworthiness. Short Hills, N.J.-based
Utilities Digital Journey Insights (Part 3): Data, the new “digital capital” - Going beyond the hype of advanced analytics and AI. This series of blog posts builds on the 2018 CGI Client Global Insights, providing insights into how utilities are making progress toward digital transformation. So where do utilities stand?
In the energy sector, it’s not just change that organizations must prepare for – it’s the speed of change. By early this … The post Five technology trends driving the energy sector in 2019 appeared first on OpenText Blogs. In October last year, the price of Brent crude was as high as $85 per barrel.
Renewable energy is energy produced from Earth’s natural resources, those that can be replenished faster than they are consumed. Shifting to these renewable energy sources is key to the fight against climate change. For example, flow battery technology is being improved to support grid-scale energy storage.
At both OpenText™ Enterprise World Europe and Enterprise World Asia, I spoke with a number of customers about using digital technologies, especially predictive analytics, to transform their maintenance activities and optimize asset performance.
Urban planning Governments use GIS data and GIS-based solutions for urban planning: zoning and land use projects, natural disaster and health event response, roadway system and building design, utility distribution, energy production, and waste and resource management.
Improve Decision-Making: AI-driven analytics provide deeper insights into data trends and patterns. Opportunities for Insights: Potential to extract valuable information using advanced analytics. By 2025: Data Literacy Will Be a Priority: Empowering employees to understand and utilize data effectively.
Today, utilities and many other industries use drones extensively to conduct surveys, map assets and monitor business operations. Additionally, DaaS has the potential to leverage smart technologies such as IoT, sensors, 5G, edge analytics and machine learning to improve the monitoring and visualization of assets operations.
Key strategies and technologies to help utilities respond to a “storm” never seen before. For more than three decades, I served at a leading electric utility, responding to numerous storms to keep the lights on for customers and to support critical infrastructure. COVID-19 considerations and how technology can help.
We believe there are three core areas that every organization should focus on: sustainability strategy and reporting; energy transition and climate resilience; and intelligent asset, facility and infrastructure management. We also know that using AI requires vast amounts of energy and data.
Utilities Digital Journey Insights (Part 2): Unlocking executive priorities for innovation. This series of blog posts builds on the 2018 CGI Client Global Insights, providing insights into how utilities are making progress toward digital transformation. Utilities recognize the need to accelerate the pace of change.
Your digital carbon footprint includes emissions from the software delivery process--planning, coding, building, testing, release--in addition to energy consumed from customer use. Decrease your individual energy output with automated tests executed on the cloud. Reduce the footprint of your system under test through virtualization.
The multidimensional nature of quantum mechanics offers a new way to approach problems with many moving parts, enabling better analytic performance for computationally complex problems. To that end, we convened five working groups covering healthcare/life sciences, materials science, high-energy physics, optimization and sustainability.
Artificial intelligence and predictive analytics: The new competitive advantage Artificial intelligence (AI) has evolved from a buzzword to a critical strategic tool for retail and CPG companies. In 2025, AI-driven predictive analytics are no longer optional but essential for survival in a hyper-competitive marketplace.
Enhanced customer engagement was shown to be the top outcome that UK Utility companies looked for from their digital transformation initiatives. That’s according to research that has just been completed by Utility Week and OpenText™. appeared first on OpenText Blogs.
Smart components (phones, tablets, sensors, microprocessors and analytics). To that end, the IBM Cloud Pak for Data offers many options to handle and store data for operational purposes, analytics and auditability. and energy and utilities. Learn more about Industry 4.0 Learn more about Industry 4.0
Artificial intelligence (AI) is revolutionizing industries by enabling advanced analytics, automation and personalized experiences. Frameworks like TensorFlow, PyTorch and Apache Spark MLlib support distributed computing paradigms, enabling efficient utilization of resources and faster time-to-insight.
Many managers in asset-intensive industries like energy, utilities or process manufacturing, perform a delicate high-wire act when managing inventory. Consider these questions: Do you have a platform that combines statistical analyses, prescriptive analytics and optimization algorithms? What’s at stake?
Data analytics The goal of data analytics is to take raw data and refine it into an understandable narrative that addresses business goals. In addition, the high clock speeds achieved by CPUs make them perfectly suited to handle the type of rapid-fire scanning and retrieval of information that data analytics requires.
The anonymous survey covered the utility, energy, health and transport sectors – industries renowned for keeping their activities secret because they store highly sensitive information and are responsible for essential services. That is a really big change and that’s why the risk isn’t just theoretical any more. “We
They will be able to: Utilize reporting to identify trends and risks within the product supply chain for mitigation and improvement. Access analytics for product lifecycles for inventory management, distribution, freshness and cold chain.
In the era of digital transformation, digital twins are emerging as a potent solution to energy production challenges. The twin will continuously collect data from the physical asset and use predictive analytics and machine learning (ML) algorithms to predict future performance. The use of digital twins is one such innovation.
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