Digital Technology: Transformation, IT, Algorithms

The article “The three keys for energy companies to win in the next decade: BCG” looks at digital technology in the energy industry and finds

’Digital is a game changer for the industry,’ says Michael Buffet, managing director and partner at BCG. ‘It is a critical lever for oil and gas operators, and for power and utilities to ensure sustainability of their core business, manage their energy transition, and to develop new technologies and capabilities.’ Because the energy sector is reliant upon engineering, digital could reduce man hours. Buffet says it could bring significant operational improvements and a boost to production. Yet, companies face challenges in realising that transition and capturing value from digital. BCG says that those challenges fit within a 70/20/10 percent rule—”

  • 70% Business Transformation Issues
  • 20% IT and Data Challenges
  • 10% Algorithms and other Technical Hurdles

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