It's no secret that the energy industry is in the middle of a pretty seismic shift. From regulatory and policy shifts, changing global demographic trends, to rapidly evolving renewable technologies (WEF), combined with an aging workforce and a looming talent gap, there are a lot of factors at play in shaping the future of the industry. And at the same time, our global energy needs are expected to grow 30% by 2040. Imagine adding another China and India to the demand we see today (IEA).
As a futurist, it's my job to help businesses make the best decisions to prepare for what's coming around the corner. And while I can't say definitively what the energy sector will look like 20 years from now, there is one thing I can say for sure ex ante: the winners in the next generation of energy will be the ones who embrace digital transformation early.
The technologies available to us during this Fourth Industrial Revolution provide a huge opportunity for the energy sector to not only prepare but also thrive during this time of change. Consider the implications on safety when your workers will be equipped with artificial intelligence to predict actions. Or how much more effective and productive your field workers can be when they are connected with mobile applications that share information with the rest of the company in real-time, not weighed down by clipboards and notebooks. Or how much simpler knowledge transfer will be with technology there to support and guide the new generation of workers.
This isn't wishful thinking. Companies large and small alike are implementing these technologies today. I'm proud to say one of my former employers, and current Salesforce customer, Shell is realizing a business fit for the future, preparing to equip their workforce with field service and mobile applications.
That's just the beginning. We have many more possibilities to share and explore.
Unfortunately, most companies are not taking advantage of the moment. Only about a third of Oil & Gas companies are investing in big data and analytics. And only 13% actually use the insights to drive their business. That's a big opportunity missed when you consider that a single rig at an oilfield generates terabytes of data every single day (WEF/Accenture).
Then, the big question for energy companies is... How? How do you look around the corner and see your company as the industry leader in the next decade?
First, you need to start future-proofing your company now and that means embracing a digital transformation strategy that harnesses your data and puts the latest technology into the hands of your employees. That's won't be about one-off solutions catered only to your upstream, midstream, or downstream business. It requires investment in a platform that connects all parts of your business. It requires Salesforce.
That's why Salesforce came to CeraWeek last week. We wanted to show how Salesforce is the energy industry's partner to prepare for the exciting future ahead. If you missed us at CeraWeek, visit us to to learn more about the work our customers are already doing on the Salesforce Platform and about the big opportunities for the industry.