How utility industries can leverage location data, AI and IoT

Organizations are looking at how AI and IoT can reduce cost, drive efficiencies, and enhance competitive advantage and support emerging business models. It is also clearly observed that some technical innovations from the mainstream of the IT world, or from other industries, are creating opportunities to leverage technology that did not exist previously in the industry. The industry has, in the past, pursued a siloed approach to applications and technologies. This is characterized by the separation of the engineering and operations groups from IT, and the use of stand-alone, best-of-breed applications within the overall scope of IT. As ubiquitous connectivity continues to permeate technology sectors, an increasing need to unite energy technologies, operational technologies (such as sensors and smart devices) and IT (such as big data, advanced analytics and asset performance management [APM]) with consumer technologies (such as social and mobile) is observed in the industry.