Info-Tech Research Group's recently published industry
research offers the utilities sector strategic insights to enhance
innovation, resiliency, and operational efficiency through the
adoption of Exponential IT. The firm's new blueprint addresses
industry-specific challenges, providing IT leaders with the five
priorities to drive digital transformation and maintain
competitiveness in a rapidly evolving technological
landscape.
TORONTO, June 21,
2024 /PRNewswire/ - The utilities industry is
facing unprecedented challenges due to rapid technological
advancement, increasing regulatory demands, and evolving customer
expectations. As a strategic response to these disruptions, many
utilities have embraced digital transformation. However, IT leaders
often grapple with specialized knowledge gaps needed to leverage
emerging technologies and trends effectively. To address these
challenges and foster innovation and agility, Info-Tech Research
Group has published its latest blueprint, Priorities for
Adopting an Exponential IT Mindset in the Utilities Industry.
The firm's comprehensive research and insights provide utilities IT
leaders with the tools to identify and tackle specific pain points,
optimize operations, and deliver value-added services swiftly and
efficiently.
"As technological disruption accelerates exponentially, every
utility organization will inevitably transition into a digital
utility," says Jing Wu,
principal research director at Info-Tech Research Group. "At
this crucial inflection point, technology leaders must shift their
mindset to embrace Exponential IT. To capitalize on this upcoming
opportunity, IT leaders must evolve into business leaders who
unlock advanced value for the organization while mitigating
exponential risks effectively."
Info-Tech's new resource highlights the utilities sector's
struggle with balancing the benefits of emerging technologies while
managing associated risks. For example, IT and OT departments are
currently burdened with existing technical debt, which diverts
their focus from maximizing the value of new technologies. However,
rapidly delivering services and staying ahead of industry trends
and business demands are increasingly critical in the evolving
technology landscape. The firm advises that adopting an Exponential
IT mindset is essential for enhancing risk management, resiliency,
and sustainability in the utilities sector. This approach involves
integrating advanced technologies to optimize operations, drive
continuous innovation, and provide personalized customer
experiences. Info-Tech explains by embracing Exponential IT,
utility sector can navigate industry disruptions and meet the
evolving expectations of their audiences.
"The utilities industry urgently needs to adopt Exponential
IT to counter industry disruptions and embrace opportunities,"
explains Wu. "Recognizing and integrating core foundational
capabilities are considered crucial initial steps in starting a
successful Exponential IT transformation, resulting in the
generation of value in the industry."
The blueprint details how the utilities industry is striving to
excel in the next wave of technology-driven evolution, presenting
CIOs with a unique opportunity to showcase their organizational
leadership. To seize this opportunity, Info-Tech advises that CIOs
transition from merely providing services to delivering
organizational capabilities and taking ownership of organizational
objectives.
In Priorities for Adopting an Exponential IT Mindset in the
Utilities Industry, Info-Tech recommends five
industry-specific priorities for IT leaders to effectively
implement an Exponential IT transformation in the utilities sector.
They are:
- Build an Adaptive Delivery Model: Enable more
flexible and efficient delivery of products and services. This
priority involves adopting agile methodologies, streamlining
workflows, and ensuring rapid adaptation to technological and
market shifts.
- Optimize & Automate Operations: Maximize
efficiency while mitigating risks through intelligent automation
and data-driven decision-making. This process includes implementing
AI and machine learning for predictive maintenance, automating
routine tasks to reduce manual workloads, and using data analytics
for proactive risk management.
- Broker Strategic Relationships: Strengthen and
build both external and internal relationships to better align IT
capabilities to organizational goals. Establish partnerships with
technology vendors, collaborate with regulatory bodies, and foster
cross-functional teamwork within the organization to ensure
cohesive and strategic IT initiatives.
- Embrace Digital Innovation: Evaluate and adopt
solutions that drive consumer value, enterprise growth, and
innovation. Explore and implement emerging technologies such as
IoT, blockchain, and advanced analytics to enhance service
delivery, improve customer engagement, and drive business
growth.
- Cultivate Workforce Flexibility: Dismantle
traditional jobs and hierarchies, normalize new collaborative ways
of working, and adopt a federated and hybrid IT operating model.
Promote continuous learning and development, encourage
cross-functional collaboration, and create an adaptive workforce
capable of thriving in a dynamic technological landscape.
To remain at the forefront of the rapidly advancing technology
landscape, adopting an Exponential IT mindset is paramount for the
utilities sector. Info-Tech recommends that organizations evaluate
their readiness and embark on a transformational journey to
maintain competitiveness and relevance.
The firm's latest research provides a comprehensive framework
for IT leaders to transform their organizations, elevate
value-creation capabilities, and effectively bridge the gap between
the exponential progression of technological change and IT's linear
progression in effectively managing that change. Info-Tech advises
that by following this strategic roadmap, utilities can ensure
long-term sustainability and success in an ever-evolving
market.
For exclusive and timely commentary from Jing Wu, an expert in the utilities sector, and
access to the complete Priorities for Adopting an
Exponential IT Mindset in the Utilities
Industry blueprint, please contact
pr@infotech.com.
Info-Tech LIVE 2024
Registration is now open for
Info-Tech Research Group's annual IT conference, Info-Tech LIVE
2024, taking place September 17 to 19,
2024, at the iconic Bellagio in Las Vegas. This premier event offers
journalists, podcasters, and media influencers access to exclusive
content, the latest IT research and trends, and the opportunity to
interview industry experts, analysts, and speakers. To apply for
media passes to attend the event or gain access to research and
expert insights on trending topics, please contact
pr@infotech.com.
About Info-Tech Research Group
Info-Tech Research
Group is one of the world's leading research and advisory
firms, proudly serving over 30,000 IT and HR professionals. The
company produces unbiased, highly relevant research and provides
advisory services to help leaders make strategic, timely, and
well-informed decisions. For nearly 30 years, Info-Tech has
partnered closely with teams to provide them with everything they
need, from actionable tools to analyst guidance, ensuring they
deliver measurable results for their organizations.
To learn more about Info-Tech's divisions, visit McLean &
Company for HR research and advisory
services and SoftwareReviews for software buying
insights.
Media professionals can register for unrestricted access to
research across IT, HR, and software and hundreds of industry
analysts through the firm's Media Insiders program. To gain access,
contact pr@infotech.com.
For information about Info-Tech Research Group or to access the
latest research, visit infotech.com and connect via
LinkedIn and X.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/utilities-sector-can-enhance-risk-management-and-resilience-with-exponential-it-says-info-tech-research-group-in-new-resource-302179259.html
SOURCE Info-Tech Research Group