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The Innovation in Energy

Embracing innovative technology for long-term sustainability

Our lives are being revolutionized by intelligent things that promise to transform daily life. Switch on a light in your home from hundreds of miles away. Your house, sensing that you left, automatically adjusts climate control. Your refrigerator pipes up when you’re running low on milk. A digital assistant reads your mail and updates you on the day’s breaking news.

We’re looking at a future where humans and machines connect, and seamlessly work together. As we watch all sectors of the economy, and all aspects of our daily lives change due to connectivity, we need to think about this shift as a connected society. We’re seeking great technical progress, where we’ll reap countless benefits.

However, this rapid movement toward connecting everything and everyone inherently generates serious cyber vulnerability and risk, such as loss of privacy, business stoppage, and the worry that intelligent things will jeopardize public safety—just to name a few. As we move through this evolutionary journey, citizens, businesses, and governments must take proactive actions to ensure our future is secure.

Energy and utilities are facing some of the greatest sustainability challenges of any sector in the Gulf Cooperation Council (GCC). Exacerbating the slow and steady depletion of the region’s finite resources is an energy consumption on the rise, with Qatar, Kuwait, the United Arab Emirates (UAE), and Bahrain displaying among the highest rates of per capita primary energy consumption in the world. The imbalance between limited supply and near-insatiable demand is stark, and the need to address it is urgent.

Here, a number of key factors come into play. Public awareness, leadership, discipline, and a desire among stakeholders to focus on sustainability in the first place are all fundamental to the future of the energy and utilities industries—but it is in the area of innovation that some of the greatest challenges and potential lie. The troubling reality is that, at the level of industry, the Gulf’s energy and utilities sectors remain among the most lacking when it comes to innovation and R&D.

“Public awareness, leadership, discipline, and a desire among stakeholders to focus on sustainability in the first place are all fundamental to the future of the energy and utilities industries.”

The outlook, however, needn’t be bleak. Already, willingness to invest in innovation is evident in the upstream oil and gas sector, and momentum is growing in the realm of renewable energy, too. Now is the time for other energy and utilities players to follow suit, and embrace the value that innovative technologies can add to the performance and long-term sustainability of their business.

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The Future is Innovation

The GCC’s energy and utilities industry may be facing some of the greatest sustainability challenges of any sector, but by harnessing innovation, they have the power to build bright, sustainable futures that benefit not only the environment, but the bottom lines of companies across the region.

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The Innovation in Energy

Embracing innovative technology for long-term sustainability

Download This Insight

The Future is Innovation

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