The emergence of cloud computing, machine learning, predictive analytics and smart sensors is bringing about a new paradigm in managing and operating production lines, networked assets, logistics, and interactions with customers. These capabilities can be built on past technology investments, and opportunities are underpinned by an increasing scale of data and the need to undertake more sophisticated predictive and prescriptive analytics.
PwC research shows that 72% of organizations believe that emerging digital technology--like Industrial Internet of Things (IIoT), smart sensors, location detection, 3D printing, and mobile devices, will be a core part of operations in five years. A further 83% believe that data and analytics will be the foundation of this change. Yet this requires significant improvement, given that only 14% of organizations at present have a cross functional data and analytics capability.
We believe that these new technologies provide water wholesalers a significant competitive advantage in analyzing and driving insights, automating asset monitoring and work scheduling, and enhancing systems across treatment and network assets. These capabilities can lead to lower overall totex, better customer improvements, and improved resilience.
In addition to utilities, we are helping companies in many other sectors deal with the disruption associated with these new technologies. Our Alliance with GE Digital is instrumental in these efforts, as GE helps organizations meet these challenges every day. GE has a rich history as a thought leader in the Industrial Internet. Access our full paper to see suggested steps for companies. A robust business case for your investment plans in these areas in AMP7, particularly in light of PR19, can benefit your customers, employees, and investors.