Digitalization is a gamechanger. It is transforming the industry we work in and the world we live in, rapidly and radically. It is making our businesses better, stronger and more profitable, but it also exposes our weaknesses and vulnerabilities. The challenge is to harness the opportunities it offers, or run the risk of getting left behind.
By digitally connecting power plants and water facilities to people, companies can collect and analyze vast amounts of data about their equipment and operations in a way not previously possible. With the help of the right partners, they can turn this data into actionable information for the right people at the right time, making their company agile, optimizing production and predicting essential maintenance.
ABB has been a pioneer in digitalization for more than 40 years. As a result, we have the largest installed base of digitally enabled industrial products and devices in the world - more than 70 million - as well as 70,000 digital control systems and 6,000 enterprise-level software solutions. This installed base and our expertise are the foundation of what is probably the biggest and most advanced portfolio of digital solutions for industrial applications, ABB Ability™.
In this issue, we take a close look at the opportunities that digitalization offers to the power and water industries and the challenges these industries now face - in market complexity, regulatory compliance, cyber security, plant and process optimization, dealing with distributed energy resources, and maintenance and service.
I would like to thank our three guest interviewees for sharing their knowledge and experience of digitalization: Enrico Viale, head of Global Thermal Generation at Enel, one of the world’s largest power generation companies; Matthew Littlefield, President and principal analyst of LNS Research, a leading research and advisory firm on digital transformation; and Alex Blau, Vice-President at ideas42, a behavioral science research organization.
Enjoy your reading.
With kind regards,
Kevin Kosisko
Managing Director
ABB Power Generation & Water