Decarbonization in the Utilities industry will become more than aspirational. The U.S. stimulus package and the Paris Agreement will work together to force change in electricity generation. Many Utility CIOs are just beginning to understand the impact these changes will have on their strategies and roadmaps.
The growing trend toward electric vehicles (EVs) will accelerate and make Utilities scramble to maintain grid stability. When the demand for fast charging grows beyond just a scattering of the existing EV charging stations, it will create huge draws on the grid. Unfortunately, this demand typically hits during current periods of peak demand, which further exacerbates the challenge.
An aging workforce and a wave of retiring experts will force Utilities to reconsider their service provider ecosystems. Co-sourcing is an approach that blends resources in agile delivery teams, but accountability will remain an essential requirement. Utilities will need to spend time in 2022 finding solutions and relationships that bridge agility and accountability.
Oil & Gas
Oil & Gas companies are taking a hard look at how they can transform their energy portfolios to decarbonize, increase value and prepare for increasingly stringent regulations. The energy company of the future will need to embrace engineering technology to solve business problems. This will require the deliberate convergence of operational technology (OT) and information technology (IT).
Digital transformation will continue to be a top priority for Oil & Gas companies. A strategic digital journey will include thoughtful implementation of digital technologies – including analytics, machine learning, artificial intelligence and big data sets. And if that’s not enough, companies will also need to prioritize cybersecurity and wise cloud adoption in 2022.
An aging workforce and an inability to attract technical talent will force Oil & Gas leaders to make hard decisions about what skills they want to keep in house, what services they want to outsource, and which partners they wish to engage in a strategic relationship.
Chemicals, Metals & Mining
Chemical, Metals and Mining companies are also facing a future that calls for a new engineering paradigm. Evolving security needs and the demands of modern operations will force companies to carefully stitch OT and IT together be more agile and build teams that work collaboratively. A focus on engineering services will be a growth engine for Chemical and Mining companies in 2022.
Chemical companies are leveraging AI and machine learning with big data sets to optimize business operations and product development. Building and maintaining smart plants will require advanced technologies and analytic platforms like AWS, Azure and SAP S/4HANA and edge network computing with 5G. This will be an essential part of bringing together data, analytics, and IoT connected technology on the platform – enabling safe and productive chemical and mining operations.