July 18, 2018
Changes Brewing in North American Energy
North American energy markets may be in for a perfect storm. While the industry is undergoing massive upheaval – in the way of expanded renewables, natural gas surpluses, reduced reliance on fossil fuels, pro-energy legislative reform and increasing investment in infrastructure – digital technology is weighing in on a grand scale.
For the first time ever, terms such as “blockchain,” “artificial intelligence,” and “big data” are being bandied about in board rooms, as depressed prices, reduced volatilities and thinning margins challenge industry participants to think outside the box.
FIS’ latest report, “Digital Disruption in North American Gas and Power Markets,” goes into the thick of it, outlining the external forces in the market that are causing internal reflections on what to do next, especially in the area of digital transformation.
Digital Transformation Is a Good Thing
To begin with, digital transformation is more than just upgrading your software or moving your computing resources to the cloud. Yes, you will need to do just that to accomplish the goal. But, you will also have to rethink the way you approach the business.
This may require an examination of your business processes. You may have to re-engineer your reporting structure and communication channels. You may even need to consider a workforce reset to make it through to the next level. It isn’t called “digital disruption” for nothing.
According to the report, FIS outlines five key digital breakthroughs to ponder as you chart your course for the future. These include:
As you make your way through the report, you’ll encounter several real-world examples of how this type of technology has already helped energy-related companies realize rapid and substantial gains.
GET THE REPORT
To summarize, any time spent reading this report will effectively inform you of the options available in today’s digital landscape and provide you with useful insights in mapping your next move in the North American power and gas market. To download the full report, please click here.
Then, get ready to rise with FIS!