AVEVA highlights the importance of digitization of energy industry in a post-covid landscape

AVEVA has highlighted how the acceleration of digital is transforming the energy industry in a post-pandemic landscape. AVEVA CEO Craig Hayman, who spoke at CERAWeek 2021, is championing the rapid digital evolution of the energy sector to drive transformative change. As workers have been forced to adapt new digital tools for remote work, the status quo has clearly been disrupted.

Craig Hayman CEO, AVEVA

Hayman noted that industrial software is, “rapidly enabling and accelerating the energy transition” for diverse industries, as well as supporting the efficiency and viability of the renewables sector. The current pandemic has shown enterprises throughout the world how dependable enterprise operations can be upended almost overnight

“We are about a year into the pandemic. At the outset, many energy majors focused on CAPEX and certainty and as a result, there was never any room for error. On the OPEX side, teams are looking to reduce expenses without increasing the risk,” Hayman said. “We have seen five years’ digital acceleration crammed into the space of just ten months as well as a resurgence around giving people the tools to do their job, by harvesting data and predicting when facilities will fail.” The key to surviving this pandemic is how organizations use data to make sure the capital projects are delivered reliably.

Hayman says that the energy sector will undergo a ‘wholesale transformation’, where trust, partnership and the human journey will be absolutely key. “As an industry, we’re at the start of the journey – there are more transformative behaviours to come as well as silos that need to be broken down,” he said. “Even in times of rapid change, energy companies’ two most valuable assets remain their people and their data.”

“Integrating human insight and operational information including the way that we design, build and run assets can evolve to be more efficient, intelligent and sustainable. We believe that the future mix will be defined by what we call the three Ds: demand, digitalization and ongoing disruption,” Hayman commented.

“As markets continue to evolve, the pace of change will also accelerate, and the possible gains are increasing. Combining information and artificial intelligence with human insight is crucial to optimizing engineering and operations to drive performance intelligence, and support the energy transition,” Hayman concluded.