42% of utilities leaders to implement IoT in next 12 months

Posted on 7 Mar 2018 by Jonny Williamson

The majority (70%) of utilities leaders believe technology is key to improving operational efficiency, boosting employee productivity, and bringing new products or services to market more quickly.

70% of utilities leaders believe technology is key to helping Britain overcome the socioeconomic issues – image courtesy of Depositphotos.

A resounding 94% of utilities leaders agreeing technology is driving change in their organisations, and 84% are positive about that change, according to a Fujitsu study.

The positive view of technology is reportedly down to the improvements technology has brought the sector.

Utilities leaders rank the top benefits as improving operational efficiency (48%), boosting employee productivity (41%) and bringing new products/services to market more quickly.

Other key findings from the report are:

  • 70% of utilities leaders believe technology will enable the world to overcome socioeconomic challenges it faces today
  • Utilities leaders point to the Internet of Things (IoT) (42%), wearables (40%) and Artificial Intelligence (AI) (40%) to be implemented in the next 12 months
  • 75% of utilities leaders believe their employees have the right skills to take advantage of new technology

Despite the upgrades that technology has made in the sector – whether it be smart homes, meters or grids, just 53% of the public agree that utilities have been dramatically changed by technology.

According to the study, utility industry is one of the most forward-thinking sectors when it comes to technology adoption.

When asked which technologies would be implemented in the next 12 months, utilities leaders pointed to the Internet of Things (IoT) (42%), wearables (40%), and Artificial Intelligence (AI) (40%).

Despite the industry being seen as a leader in technology adoption, just 17% of the public listed utilities as the top sector they’d like to see technological advances in, behind education, transport, central government, manufacturing, banking, and retail.

The public also listed utilities fourth (21%), when asked which sectors they think are changing the most in the UK today. At a broader level, the public does acknowledge that technology is driving societal change in the country (88%).

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