Despite being one of the most ‘disrupted’ industries globally, the utility sector still has a fairly low ‘innovation score’, according to an article in the Harvard Business Review.
In a survey of 5,000 board members from around the world,it was revealed that for many, innovation is not one of their top priorities, despite the accelerated levels of change businesses are experiencing globally. The article further says that “the widespread lack of board-level engagement in innovation processes could be a major blind spot and a potential liability.”
While the healthcare, IT and telecoms industries are known for their innovation driven strategies, “only 13% of directors in the energy and utilities industry consider innovation to be a major strategic challenge, but the swift growth of renewable energy companies and such developments as the use of drones for monitoring oil and gas production suggest that no industry is impervious to the forces of innovation.”
At the same time, 33% of the directors interviewed said that staying on top of new technology is one of the most challenging aspects of their jobs and their second biggest concern.
So, just how true is this perception? Do you challenge or agree with the research?
Our webinar on Thursday, Initiate! Accelerating the energy transition challenges the belief that utilities are not embracing innovation. Our speakers, Marloes Wichink-Kruit, Human Capital Manager, InnoEnergy; Jurgen Hornman, Investment Director, Shell Ventures and Oriol Pujoldevall, Head of Business Development, Energy Web Foundation will share their perspectives on technology and trends in the sector, how new partnerships can create a positive change in the energy sector, the increase of non-traditional investors in the industry and the all-important topic of talent management and the future of work.
Join us on Thursday and gain a different perspective on what is happening, where and when and then consider signing up to attend European Utility Week, taking place in Vienna this year, to see first-hand how innovation is being fostered across the entire energy sector. Sietske Jacobs, Project Manager Initiate!, will be sharing programme developments and speaker updates during our discussion, providing an excellent opportunity for you to start planning your European Utility Week calendar.
Until next time