The energy industries are experiencing a period of unprecedented change caused by technological advancement. Renewable energy sources completely changing political agendas, how electricity is generated and distributed, and economic forces.
After a good century of relative stability in the energy industry, the last two decades have been turbulent. If we are reading the signs right, this is only the start of a much bigger change in the way the world produces and consumes energy, particularly electricity. The emergence of competitive distributed energy resources, solar and wind, is decentralizing electricity generation. It introduces a host of new challenges for the industry and, eventually, all of us as energy consumers. How are oil and gas companies and utilities deal with this?
Digital transformation is at the top of the agenda for oil, gas, and utility executives. The traditional thoughtful and conservative approach to change and innovation has resulted in the industry lagging other sectors in the adoption of cutting-edge technologies. Change agents (including AI, automation, analytics, and blockchain) are causing disruption in the industry and forcing utilities to speed up transformation.