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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.
The energy and resources sector including utilities, oil and gas, chemicals, and metals & mining is one of the most hazardous in the world. Utilizing information management technologies and best practices can help continuously improve upon and eliminate these root causes for safer operations.
As most of us know, IoT devices are on the rise in enterprise networks. According to McKinsey & Company , the proportion of organizations that use IoT products has grown from 13 percent in 2014 to 25 percent today. The issue is that these tens of billions of new devices will likely amplify the inherent security risks of IoT.
For instance, very visibly over the past decade, Internet of Things ( IoT ) computing devices and sensors have become embedded everywhere. Smart devices and IoT systems are beginning to interconnect with each other and this is only going to continue.”. Energy at the edges.
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
Related: How decentralized IoT boosts decarbonization Yet, more so than ever, infusing trustworthiness into modern-day digital services has become mission critical for most businesses. If you factor in where we are in the world today with things like IoT, quantum computing and generative AI, we could be heading for a huge trust crisis.”
Generative AI and digital twin use cases in asset-intensive industries Various use cases come into reality when you leverage generative AI for digital twin technologies in an asset-intensive industry such as energy and utilities. Consider some of the examples of use cases from our clients in the industry: Visual insights.
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.
The drivers of IoT-centric commerce appear to be unstoppable. Count on the wide deployment of IoT systems to continue at an accelerated rate. There are already more IoT devices than human beings on the planet, according to tech industry research firm Gartner. This time the stakes are too high. Security-by-design lacking.
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.
Utilities have undertaken a large transformation journey to leverage new technologies (such as AI, IoT, robotics, etc.) With spreading deregulation and innovative new energy retailers entering the market, the … The post How utilities can boost engagement, retention, and profits appeared first on OpenText Blogs.
Utilities Digital Journey Insights (Part 4): Utilities’ pursuit of new business models accelerates. Some utilities even provide vehicle-to-grid services and home energy management systems to help consumers manage their electricity usage. Tue, 02/19/2019 - 10:45. In Europe, if one owns solar panels but not a battery, E.ON
This blog series discusses the complex tasks energyutility companies face as they shift to holistic grid asset management to manage through the energy transition. The asset management maturity journey Utility companies can view the evolution of asset management as a journey to a level of asset management excellence.
But flash floods, hurricanes and winter storms also profoundly impact utilities. Today, utilities are meeting these challenges and risks with innovation by leaning on data and AI to prepare for the next event. Identifying at-risk assets in advance is a main challenge for utilities.
In fact, memory attacks have quietly emerged as a powerful and versatile new class of hacking technique that threat actors in the vanguard are utilizing to subvert conventional IT security systems. Allegedly developed by US and Israeli operatives, Stuxnet was discovered circulating through Iranian nuclear energy facilities in 2010.
Exposing the Internet of Things (IoT) Universe. Consumer electronics, business, network appliances, and industrial IoT (IIoT) devices are all driving the exponential growth of IoT systems. Consumer electronics, business, network appliances, and industrial IoT (IIoT) devices are all driving the exponential growth of IoT systems.
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.
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. ” can be answered by geospatial data and GIS.
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.
Continued adoption of IoT technologies will pose both opportunities and challenges. Any organisation engaged in IoT will be amassing datasets that have the potential to become extremely valuable. But exactly how that data is utilized (and potentially monetised) will differ across sectors. Monetising Data Assets.
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.
Here are a few key takeaways: The security bottleneck The next great leap forward in digital technologies will give us driverless ground transportation, green cities that continually optimize energy usage and self-improving medical treatments. This, in fact, is the core security challenge companies face defending their business networks.
Some 5G networks’ download speeds can reach as high as 10 gigabits per second (Gbps) making them ideal for new technologies like artificial intelligence (AI) , machine learning (ML) and Internet of Things (IoT). ” Within each cell, a device like a 5G phone, PC or IoT sensor can connect to the internet via radio waves.
Currently, other transformational technologies like artificial intelligence (AI), the Internet of Things (IoT ) and machine learning (ML) require much faster speeds to function than 3G and 4G networks offer. As mobile technology has expanded over the years, the amount of data users generate every day has increased exponentially.
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.
Does the tail wag the dog in IoT? Internet of Things (IoT) with its promise of cheap and ubiquitous sensing technology does carry with it the risk of becoming a very big tail that could wag the corporate dog. The energy supplier might start with a meter reading every 6 months and move to a meter reading every 15 minutes.
These conversations boiled down the three core issues around asset performance: deploying digital technologies, the ‘first to be second’ approach and the … The post What does asset performance optimization mean for energy and manufacturing? appeared first on OpenText Blogs.
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?
The threat of attacks against Critical National Infrastructure (CNI) – energy, utilities, telecommunications, and transportation – is now front of mind for many. From the ransomware attack that compromised a major U.S. gas pipeline in 2021 to the rise of nation-state attacks, critical infrastructure organizations are under siege.
For advantages, private blockchains are more scalable and energy-efficient with suggested use cases of banking and supply chain management. For modern networks, the introduction of new endpoints – be it remote laptops for personnel or client IoT devices – is a roadblock being actively addressed. DDoS: Overwhelming the Network.
The utilities and energy industries experienced high indicators of attack activity, suggests that attackers have access to critical infrastructure and are waiting to exploit this access. Healthcare IoT. The healthcare IoT is problematic due to the increase in networked medical devices. Critical infrastructure.
IoT (Internet of Things) sensors enable real-time monitoring of carbon emissions, waste reduction, and energy consumption across global supply chains. Machine learning algorithms then utilize these profiles to deliver contextually relevant experiences across every interaction point.
Enterprise organizations in industries that need to meet strict regulatory compliance standards or comply with data sovereignty laws (manufacturing, energy, oil and gas) frequently choose private cloud environments when they need to meet strict regulatory standards. All the major public cloud providers (e.g.,
There are many overlapping business usage scenarios involving both the disciplines of the Internet of Things (IoT) and edge computing. which involves the integration of advanced digital technologies and IoT into manufacturing processes and connected devices that transmit and receive instructions and data. and energy and utilities.
IoT (printers, IP phones, security cameras, etc.) Although the features beyond network access control and services can be valuable, they are beyond the scope of this review and will not be covered further here. Agents Forescout Platform is an agentless solution. Network infrastructure (switches, routers, wireless access points, etc.)
By 2025: Data Literacy Will Be a Priority: Empowering employees to understand and utilize data effectively. Integration with IoT Devices: Managing data from a multitude of connected devices. Environmental Impact Consideration: Addressing the energy consumption of data centers.
Beyond that, household devices blessed with Internet of Things (IoT) technology means that CPUs are now being incorporated into refrigerators, thermostats, security systems and more. Companies will become more focused on energy-efficient solutions as energy costs rise.
For example, a digital twin of a wind turbine can simulate the impact of changing wind speed and direction on the turbine’s performance, helping operators make informed decisions about maintenance and energy production. Explore how digital twins can optimize the performance of your assets in a sustainable way What is a digital thread?
In the era of digital transformation, digital twins are emerging as a potent solution to energy production challenges. And the increasing adoption of technologies like artificial intelligence (AI), machine learning and IoT will only further enhance the capabilities of digital twins. The use of digital twins is one such innovation.
As with the first version of NIST’s Cybersecurity Framework, all companies should review the new version, determine its potential utility, and consider adopting, adapting or comparing the new Framework for use within their own cyber ecosystems. Significantly, version 1.1
The need to build on this research has been given impetus by the recent UK government’s Industrial Strategy White Paper 4) Department for Business, Energy & Industrial Strategy, 2017. Internet of Things (IoT) network builders and operators have opportunities in this respect. Unique Data. Data as by-product.
EAMs optimize the quality and utilization of physical assets throughout their lifecycle, increase productive uptime and reduce operational costs. Condition monitoring: Utilize condition-monitoring techniques to collect real-time data on asset performance. Compliance adherence minimizes legal risks and ensures asset integrity.
5G has been hailed as a disruptive technology, comparable to artificial intelligence (AI ), machine learning (ML) and the Internet of Things (IoT) in terms of the kinds of change it will bring about. More specifically, 5G will continue to do the following: Add to the number of IoT devices used to remotely monitor patient health.
Inputs can include not only documents and other text-based sources, but also voice, photos, videos, and IoT channels. These solutions are increasingly utilized in end-to-end automation of business processes. Demand from Service Bureaus and BPOs also grew strongly, highlighting the ongoing strong interest in outsourcing services.
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