target audience: TECH SUPPLIER Publication date: May 2024 - Document type: IDC Survey - Doc Document number: # AP50975024
IDC Future of Operations 2023 Survey Findings: Asia/Pacific Utilities Industry — Part 2
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Abstract
In this IDC Survey, we encapsulate the findings of the IDC Future of Operations 2023 Survey for the Asia/Pacific utilities sector, revealing a tentative move toward cloud-based operational data management, with over 70% of utilities holding less than half their operational data in the cloud. Despite a sizeable uptake of AI and ML, only 15% report swift ROI, indicating a disconnect in technology application exacerbated by poor data quality and a skills gap. The reliance on conventional analytics persists, but there is an emerging trend toward investing in advanced analytics, AI, and visualization tools, deemed critical by 75% of utilities to enhance performance. The report stresses the necessity of surmounting the challenges posed by outdated technologies, regulatory constraints, and skill shortages to foster greater data sharing and collaboration, imperative for advancing sustainability measures — a domain where only 15% of utilities possess a comprehensive metrics suite. The slow adoption of mixed reality tools and the need for more democratized access to real-time operational data also stand out as critical areas for improvement.
"Utilities are at a pivotal juncture in which embracing advanced technologies, such as AI, ML, and cloud services, are not just beneficial but are imperative for survival and competitive advantage. Investing in these technologies will not only streamline operations but also significantly enhance decision-making capabilities, driving the sector toward more sustainable and efficient practices," says Rakesh Patni, associate research director, IDC AP Energy Insights.