Investing in Energy’s Digital Future Will Deliver Long-Term Returns
Developing a strategic road map for the digital transformation awards significant value for energy companies.
The digital revolution has fundamentally reshaped the energy industry. At its onset, the slow-to-adapt industry feared a potential disruption and a hefty financial undertaking. Those fears are subsiding as more organizations realize the importance of adopting and investing in a digital future, maturing from a hesitant culture to the forefront of emergent technology including the Internet of Things (IoT), artificial intelligence (AI) and software as a service (SaaS).
“Companies and organizations that don’t actively budget for and proactively invest in digital above and beyond their normal course of business are the ones that are falling behind the furthest,” said Kentaro Kawamori, venture partner at Rice Investment Group and former chief digital officer at Chesapeake Energy Corp., in an exclusive interview with Hart Energy. “Transformation by definition requires an active intent to improve and change the posture from the current state to a future state, and without investing that is very hard, if not impossible.”