Balance Environment and Economics with Digital APM Programs
Transforming legacy industries and processes is a massive undertaking. Energy demand has never been higher. So is scrutiny of the energy and materials industry from governments, investors, and consumers.
According to the International Energy Agency, of the $2.8 trillion estimated to be invested in energy in 2023, more than $1.7 trillion is going to clean energy, including renewable power, nuclear, grids, storage, low-emission fuels, efficiency improvements and end-use renewables and electrification. As we increase investment in generating cleaner sources of energy, existing assets and plants must be operated to be reliable, compliant, and safe.
Software designed for accurate data analysis, predictive maintenance, actionable emissions recommendations, and a connected workforce can bring us closer to the goal of net zero faster. In a recent survey of energy and materials industry professionals conducted by Reuters Events for GE Digital, 77% of respondents said that digital transformation would be key for energy transition plans.
Achieving ambitious sustainability goals may require capital investment, board and internal champions, workforce reallocation, and new technologies including AI/ML, predictive analytics, and advanced emissions monitoring, data analysis, and strategic implementation capabilities.