Digitalization and the future of energy

Digitalization. The term is everywhere. But what does it really mean? How will it impact the energy sector? And where can it add most value for society and individual organizations?

At DNV, we see digital technology and digitalization as key enablers of the transition to a low-carbon energy system. Their potential transformative effects are massive. To realize that potential, the sector must start treating digital transformation like any other vital business process. That means defining goals and strategies that create long-term value and help organizations to take the lead in a rapidly changing energy landscape.

Doing that takes real insight and understanding. However, digital technology is a vast and rapidly evolving area. To determine what it means for the energy sector specifically, DNV surveyed nearly 2000 professionals from across the global energy value chain. The results and analysis of that research will help individual organizations:

• Formulate the right questions to start a successful digital transformation
• Understand their digitalization options
• Benchmark their progress against other leaders in the industry

Technology and data
Automation, virtual reality, blockchain: Our research looks at what digital technologies are available, and which are already having the biggest impact across a range of segments. Data is, of course, king in the digital world. But how, where and why should it be managed and shared?

People and digital skills
Digitalization is not just about technology and big data. Our research reveals that the biggest challenge is often changing the culture and people’s perceptions. It also pinpoints the main cultural barriers and skills gaps that could hinder a successful digital transformation both for individual organizations and the energy industry as a whole.

The strategy and business case
In all the hype, it can be easy to forget that digitalization is a means not an end. Before starting on their digital transformation, organizations must be clear on why they are digitalizing and how it supports their long-term goals. What are the possible business and investment strategies for digitalization? What are other organizations doing? And where is it having the most impact?

Beyond the hype
The global analysis of our survey – as well as in-depth interviews with professionals at the forefront of the digital transformation in energy – can be found in our free report ‘Digitalization & the future of energy: Beyond the hype – how to create value by combining digital technology, people and business strategy’.

We will also be releasing focused analyses of what digitalization means for the various segments within the energy industry.