The utility industry has witnessed significant upheaval over the last decade, with the pandemic being one of the accelerating forces that drove the shift towards adopting new technologies. Today, utility tech companies around the world are leveraging the benefits offered by digital technologies to improve efficiency, customer experience, and customer satisfaction.
The technological solutions adopted by the utility industry, altered the way through which utilities could meet demands while supporting field worker safety and remote working. These innovations are aimed not only towards improving the workflow and response of these organizations but also towards elevating the customer service standards.
This is done by offering a customer-centric approach, wherein solutions are more personalized, accessible, and cost-effective. The most popular technologies that have been adopted by utility companies include cloud computing, the Internet of Things, digital transformation, and distributed or renewable resources.
Some of the trends that are impacting the utilities tech landscape include advanced metering infrastructure, intelligent transportation, smart homes, smart grids, virtual power plants, and smart cities.
59 percent of utility executives have stated that the pace of digital transformation in their organization is accelerating. While the integration of technology will improve accessibility to resources like energy, and water, only resourcefulness, and flexibility will help utilities tech companies convert intelligent solutions into promising opportunities for the long term.
These companies are uniquely positioned to seize the opportunity and drive a positive change, not just in terms of accentuating the overall customer experience, but by playing a central role on the path to net-zero energy consumption, therefore delivering immense value to all stakeholders.