11 Apr '17, 8am

How digital transformation is reshaping the energy industry #agile

Time seems to go faster as we get older, but it’s moving even faster in tech. A year in the digital age is more akin to dog years than human years. Case in point: back in 2013, GE economist Marco Annunziato delivered a TED talk discussing the significant improvements that can be made in the power industry and the resulting benefits. Improvements of a mere one percent in all of the world's industrial assets raises the potential of over $60bn in gains for the power industry, over a 15-year period. In 2013, very little was known about the internet of things (IoT) and its potential impact on industry. Not anymore. Now it’s redefining the way power plants and assets are monitored, serviced and managed. That’s tech (dog) years for you. The disruptive changes of digital transformation are currently sweeping through the energy industry. Increased use of renewables, resiliency issu...

Full article: http://www.energydigital.com/renewable-energy/how-digital...

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