< PreviousT he Energy, Utilities, and Resources (EU&R) sectors are at the forefront of embracing digital transformation to enhance operational efficiency, meet escalating energy demands, and address the pressing challenge of climate change. As we step into 2024, the industry is set to further accelerate its digitalisation journey, integrating systems and harnessing disruptive technologies such as Artificial Intelligence (AI) and automation. Digital transformation remains a key focus for the industry, with recent reports placing it second only to talent acquisition as a top growth driver. The adoption of Artificial Intelligence (AI), Internet of Things (IoT), and other intelligent technologies is gaining momentum, with 59% of EU&R companies increasing investment in digital transformation initiatives. In 2024, the industry will witness a substantial shift towards a composable, integrated environment capable of supporting ongoing innovation and rapid changes. Intelligent, integrated systems will move beyond supporting decision-making to generating plans and recommendations for addressing disruptive events before productivity is impacted. For instance, an intelligent system leveraging data from asset performance management can predict asset failure and recommend resource and scheduling adjustments, optimising uptime and reducing overall costs. This comprehensive approach ensures operational intelligence, enabling organisations to maintain and optimise productivity across the enterprise. The scarcity of clean, potable water is coming up as a critical issue, with only 0.5% of the planet’s water deemed usable. In the US alone, 2 trillion gallons of treated drinking water are lost annually due to undetected leaks caused by poorly maintained water mains. This challenge is exemplified in places like Rio Verde Foothills, where water scarcity led to reliance on water hauled from distant sources. In 2024, the industry faces increasing pressure to proactively manage water supply, with smart metre deployments expected to rise by 100%. This surge aims to improve leak detection, increase utility revenues for investing in new infrastructure and technology, and contribute to global water conservation efforts. Utilities are implementing various strategies, including reducing water usage, developing filtration systems, protecting wetlands, improving irrigation efficiency, increasing water storage, and desalinating seawater. Collaborative efforts are crucial in educating communities and businesses to become better stewards of water resources. With global warming and climate change posing significant threats, efforts to reduce carbon emissions are very critical. The Paris Agreement calls for a 45% reduction in emissions by 2030 to limit global warming to 1.5°C. However, current projections indicate a shortfall, necessitating greater ambition and international cooperation. In 2024, carbon capture and storage (CCS) practices are expected to increase by 30%. These practices involve capturing CO 2 emissions from industrial processes and storing them underground to prevent their release into the atmosphere. Some power plants have already implemented successful CCS strategies, recycling CO 2 for various purposes. The success of these initiatives relies on unified cloud platforms, precise project management, and technology that tracks Environmental, Social, and Governance (ESG) objectives in real-time. As the EU&R sector navigates these challenges, incorporating AI and automation into their operations becomes crucial. These technologies will empower organisations to strategically leverage operational intelligence, ensuring optimal productivity and a steadfast commitment to excellence and sustainability across the enterprise. The journey ahead promises transformative developments that align with the industry’s vision for a resilient and eco-friendly future. It is necessary that we adopt a sustainable approach. The industry, because of its high environmental footprint, must be among the most aggressive innovators. Carol Johnston, VP of Energy Utilities and Resources, IFS “In 2024, the industry faces increasing pressure to proactively manage water supply, with smart metre deployments expected to rise by 100%” 50 January 2024 www.utilities-me.com FINAL WORD Carol Johnston, VP of Energy Utilities and Resources, IFS, provides key insights into the industry, outlining three predictions that will significantly impact the energy and utilities in 2024 Transforming energy and utilities in 2024THE ULTIMATE UTILITIES SOURCE Utilities-me.com is home to the Middle East’s utilities industry’s top news, analyses, insights and opinions Special Reports Receive monthly reports and analyses on various trending topics pertaining to the utilities industry. 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