Utility sector undergoing technological changes like never before
By MYBRANDBOOK
Sanjeev Sinha
President – IT & Digitization
India Power Corporation
CIO priorities for 2022
Key priorities for this year would be to take forward the digital initiatives which got more focus during Covid time. We have a higher budget now for several approved digital projects. Pace of implementation is expected to be faster because of greater support from stakeholders. Digital adoption pace has definitely picked up in the last couple of years and is expected to continue this year too.
Digitization - opportunities galore
Since our organization is in the utilities space, we see many such opportunities in this space, utilities sector is undergoing technological changes like never before and IT plays an important role with the objective of digitization and automation. For example, many cities are being converted into smart cities. Government has planned to implement 250 millions smart meters in the country in the next few years with optimum usage of data that gets generated. Such initiatives are opening up opportunities for IT not just to take up these projects for ourselves but extend these expertise for other organizations as well. Hence, we see IT emerging as another revenue earning vertical for such companies whose core activities are not IT.
Also, we see IT as an enabler of digital transformation which most non-IT organizations are now focusing on. During Covid times, most of the digital transformation has been expedited and so is the importance of IT in implementing these changes.
IT: The Future of India
India’s IT spend has crossed US$ 105 Billion (Source: Gartner) in the current year. This is reassuring because India is investing heavily on IT driven initiatives for the future. This is expected to grow by 5.5% in the next few years. While software continues to be the higher area of adoption, the growth is driven by new technology areas like Artificial Intelligence, Business Intelligence, Machine Learning and other areas of Data Analytics and other digital solutions like Blockchain etc. That is because some high growth industries like renewable energy rely on digital means to grow and with them the digital adoption grows too. Smart cities are another high growth area. Overall IT industry is shaping the country to become more digital. The country has a lot to catch up on digital competitiveness on the global scale and it’s the IT industry which will make it happen.
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