HOW NEW TECHNOLOGIES ARE SET TO CHANGE THE UTILITIES INDUSTRY

Digital transformation in the energy and utilities industry was projected to generate EUR 1.19 trillion and up to EUR 275.31 billion in value by the start of 2025.* A staggering 95% of leaders in the industry realise there is a need for digitisation, but progress is being hampered by a paper-based workflow, the need to meet workforce expectations, and the resources needed to implement advanced technologies. In the European Union (EU), the latter challenge is being recognised in particular and in order to be well equipped to deal with implementing new innovations, member states, companies and utilities should have already trained 20% of their employees in digital and cyber skills by the start of this year. EU companies and utilities should also currently be providing ICT and cyber training to 70% of their workforces.