And that’s before they shell out for games! However, one tech advance— cloud computing for electric utilities —has been slow to catch on within the industry. Power production and distribution facilities are massive and complicated. Avoiding blackouts and ensuring the reliability of the power system is mission-critical for today’s regulated electric, nuclear and other power entities. Cloud computing is one of the best examples of a complete technology solution that has imparted a significant impact on the IT industry forever. This rise in customer expectations coupled with further industry shift, such as changing service provider solutions, are driving new business models. Together, respondents contributed a unique insight into the state of cloud technology adoption in their organisations – an insight that began with an evaluation of the present state of cloud technology in utilities. Ken was the U.S. national country representative on the International Electrotechnical Commission (IEC) Standards Management Board (SMB) Smart Grid (SG) #3. The principle behind utility computing is simple. Much like the services the utility industry provides, public cloud IT infrastructure is more reliable, provides faster time to innovation, and costs less–and key to utility efficiency. There are several reasons why utilities should move towards the cloud. As a result of their Authorized Provider status, EUCI is authorized to offer IACET CEUs for its programs that qualify under the ANSI/IACET Standard. Through data analytics, companies can study trends and make intelligent business decisions. Power production companies can ease spending by opting for as-a-service products offered by several providers. For details please see our FAQ, If you are unable to attend at the scheduled date and time, we make recordings available to all registrants for three business days after the event, By clicking Accept or closing this message, you consent to our cookies on this device in accordance with our cookie policy unless you have disabled them. Cloud computing can help utility firms in numerous ways, some of which are mentioned below. Over the past 36 months the prevalence of Cloud systems has increased at utilities, and the landscape is shifting. Moreover, it categorizes the global Cloud Computing in Industrial IoTmarket by key players, product type, applications and regions,etc. Cloud technology has transformed multiple businesses at a revolutionary rate with new compliances and modifications. With AWS, utilities can ingest massive, complex IoT datasets, and scale to support millions of homes in a way that is more efficient, personalized, and cost-effective. Learn how some utilities are already reaping the benefits. From acquiring hardware to recruiting the appropriate skill-sets, firms have to do it all. He is also Chief Technical Consultant and Software developer for Light the World – a non-profit organization developing low cost DC microgrids for Third World customers who do not have electricity. You will need to join the appropriate meeting at the appropriate time. Requirements for Successful Completion of Program. Cloud Computing Technology = Enhanced Performance. Companies that are expanding at a rapid pace have realized the pain of increased expenses, as new hardware and software purchases can be expensive. Here’s why. Anthony is a mission driven growth technology leader with over 35 years’ experience in a broad array of industries including energy, security systems, manufacturing, information technology, and electronics software systems. However, it is not always possible to prevent breakdowns and outages. As Cloud continues to be adopted in the utility industry, utilities must adapt their new service providers to their existing Cybersecurity plans. Cloud computing has progressed from being a sheer data storage solution to extremely complex system, enabling efficient data and resource management, workforce management, scalable services, security, flexibility, mobility to access information over the internet, and manage operational expenses. Cloud computing can play a role in this model, and here's how. Digital Transformation in the Utilities Industry with Cloud Based Solutions. Accenture’s “ Six questions every executive in the energy should ask about cloud computing ” includes practical examples of how energy companies adopted cloud computing to support and enable new services. Suri is a business focused executive with 30 years of extensive global leadership experience in product strategy, design, and innovative technologies in business-to-business and consumer spaces. Benefits of cloud computing for the insurance industry. Cloud-hosting will become much cheaper than the traditional hosting. With big growth comes big investment. Kristin was formerly the Senior Customer Value and Markets Leader for GE Power and brings over 15 years of experience of leadership, design thinking, strategy and complex problem solving. The browsing software and … 1.1 Cyber Security Challenges in Using Cloud Computing in the Electric Utility Industry BA Akyol September 2012 Prepared for the U.S. Department of Energy under Contract DE-AC05-76RL01830 Pacific Northwest National Laboratory Richland, Washington 99352 . Future of Cloud Computing. Technology-averse energy & utilities companies are about to embrace the power of cloud computing technology, say many leading experts. Cloud computing can help utility firms in numerous ways, some of which are mentioned below. Cloud computing growth is inevitable. However, utilities also face a need for speed in scaling flexibility solutions. Today, shared public utilities give us access to clean water by simply turning on the tap; cloud computing works in a similar fashion.” That was the analogy used by Vivek Kundra, Federal Chief Information Officer (CIO) of … EUCI6400 S. Fiddlers Green Cir., Suite 1620Greenwood Village, CO 801111.303.770.8800 | [email protected], Leaders in providing first-class education and training for the global energy and infrastructure industries, Serving the energy industry for over 30 years, Including rates, rate cases, risk and how utilities can best manage their assets, Including HR, customer service, marketing and communications, Including fossil fuels, renewables, and nuclear power, Introductory courses for all facets of the electrical energy industry, Including energy trading, hedging strategies and more, Including safety, NERC and FERC compliance, environmental rules and regulatory updates, Including smart grid, demand response, safety, siting and substations, Customer facing and backend technology including cybersecurity, AI and data analytics. Apart from adapting to external situations, this virtual solution also facilitates quick responses to internal requirements. Inquire About In-House Training, Identify the benefits of cloud computing as it relates to electric utilities, Explore the applicable uses of cloud computing in the electric utility space, Discuss challenges of cloud computing adoption, Identify best practices for cyber security challenges, Recognize and prepare for regulatory standards, Ascertain and anticipate operational red flags, Demonstrate best practices for fail-over and storage, Defining confidentiality in the cloud computing context, The specific challenges of NERC CIP-0113.1, Best practices and provisions to meet standards, Navigating accounting rules mandated by FERC. 5. Role of Cloud Computing in Boosting Industrial Revolution 4.0. Cloud computing is one of the major technological forces reshaping the auto industry landscape. Cloud computing has been the anchor technology that is inducing changes and motivating argent innovations in the Indian IT industry. The computer hardware such as monitors, input devices, servers, CPU and network cables. “Almost every person in the United States uses the cloud in some way although most do not know it,” according to a white paperco-authored by ICC Chair Sheahan. Electric utilities face unique challenges with public cloud computing implementations that aren’t seen in other industries and markets. One is Southern California Edison’… Moving to cloud technology saves utility businesses significant hardware and software purchasing costs. Sources say that the utility sector will invest more than $4 billion in public cloud solutions in the coming days. All attendees will connect and attend from their computer, one connection per purchase. New devices, data, and enabling technologies like Alexa, machine learning, and cloud-based contact centers, are allowing power and utilities companies to better understand, engage, and service customers. Ken is also responsible for developing requirements and working with external system integrators to provide interoperability between utility real time network operational systems and IT based enterprise systems. But there are still barriers to overcome at both the utility and regulatory level. Capital expenditure involves a lot of investment in developing fixed assets and thus, is heavy. However, the process of analytics can prove to be very intensive and thus slow when carried out through legacy systems. We use cookies during the registration process and to remember member settings. In this training we will cover the specific challenges of NERC CIP-0113.1. First and foremost, cloud can help them get lean. IBM & Northrop Grumman. Cloudtweaks. It doesn’t require upfront investment and one needs to pay for only what they use. It’s no secret that entities are facing increased pressure in the energy and utilities industry. Companies have to deploy a lot of resources in upgrading legacy infrastructure to accommodate IT capabilities. EUCI is authorized by IACET to offer 0.6 CEUs for this event. By providing constant monitoring, maintenance practices also change from reactive to proactive. It’s no secret that entities are facing increased pressure in the energy and utilitiesindustry. It has allowed flexibility for employees to work anywhere using any device. The phase of transformation is at its peak as companies in the sector look to optimize production and delivery with the help of the technology-backed solution. Today, shared public utilities give us access to clean water by simply turning on the tap; cloud computing works in a similar fashion.” That was the analogy used by Vivek Kundra, Federal Chief Information Officer (CIO) of the United States Government to depict the use of cloud computing in today’s society. Cloudtweaks updates cloud computing news, cloud jobs, startups, storage and much more. A Powerful Vision: How Every Aspect of the 21st Century Utility Will Be Transformed by Cloud Computing and Digital Technologies. The SMB SG#3 was responsible for the recommendation of existing standards to be used in Smart Grid projects, identifying gaps in existing standards and identifying new standards required to fully allow interoperability amongst vendor products. Competition is strong. The evolution of the utility industry is real – and though the pace of change and the benefits may be overhyped, we are on an irreversible path towards a more customer-centric, flexible energy system. Cloud tech has unprecedented compute, storage and networking capabilities. Utilities have changed the business models entirely by embracing cloud solutions. Cloud technology enables utility businesses to adapt to market conditions by featuring flexibility. This course provides a guideline for the implementation of public cloud computing systems and associated software services in the context of electric utilities. • Optimized IT Infrastructure Power production and … Southeast Asia Cloud Computing Market Segmentation. Cloud technology offers storage space and immense computing power. Cloud computing enables the field services to handle crucial situations better by improving the reaction time. Cloud infrastructure spending surpassed $80 billion in 2018. He also served in senior leadership technology roles at McKesson, Thermo Scientific, Microsoft, Web-Tv. Cloud computing is set to revolutionize the internet and software industry as we see it today (Coffee, Perry, Klems, Williamson, Cohen, Rushlo, Subramanian, 2008; cited in Geelan, 2008). However, the limitations of accessibility cast a shadow on them. Cloud computing offerings are used today by major energy companies. When the capabilities of cloud computing are added to field service, utility firms are in the best possible positions to undertake targeted development. 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A Closer Inspection of Tesla’s Autopilot Safety Statistics, I Visited the New Amazon Go Store in Chicago — Here Are Some Implications for Payments, Continuously Variable Transmission VS. Automatic Transmission, Ericsson: Drones, Telemedicine Will Rise in the Post-COVID World. Utilities get cloud computing religion Electric utilities are finally embracing cloud computing. When Zpryme explored perspectives on Cloud computing in 2016, there was a general recognition across the industry that it presented a great opportunity for utilities to manage data, but there were barriers to overcome at both the utility and regulatory level. This eliminates the problem of IT systems overload or over-provisioning. It creates efficiencies, delivers powerful insights, and enables new, agile business models across the … Industry backboned by the cloud … Cloud has introduced extraordinary opportunities for utilities to transform how they grow and monetize assets, serve customers with novel offerings, and scale their business. EUCI's leadership training is dedicated to advancing the careers of the next generation of leaders in the global energy industry. He was responsible for the high-level architectural design for GE’s Smart Grid System offering. Utility customers live in a seamlessly digital world and expect value from every interaction. Instructors will cover several accounting options and the pros and cons of each solution. The cloud’s on-demand computing and standardized tools make it simpler for utilities to run their operations without having to devote resources to building and maintaining IT hardware and software. Within this session, instructors will detail likely barriers for electric utility adoption: This session will go into depth on further challenges of cloud computing adoption. The rush to cloud computing by the likes of Amazon, Google and Netflix demonstrates the sound economics and reliability of the cloud, the paper argues, “but it remains to be seen whether the utility industry will follow suit.” Sheahan’s white paper highlighted a number of utilities leading the way on cloud computing. As cloud computing continues to permeate the utilities industry, managing organizational change will be more important than ever. Operations are increasingly complex. By instilling superior features and equipping firms with the most advanced of tools, cloud-based field services are helping enhance profitability and customer satisfaction to no end. Cloud computing allows the customer, or subscriber, to take advantage of the scale and operational expertise of specialized technology companies while avoiding the … The overhead costs of proprietary infrastructure can be eliminated to a considerable extent. Wednesday , November 4, 2020 : Central Time. It seems like cloud computing revenue is going to shoot through the roof in 2020. It has enabled utilities with the potential to learn from new data insights while developing more responsive outcomes and programs, and manage infrastructure more flexibly and efficiently. Cloud technology makes many demands, and meeting those demands and keeping our services running requires coordination among multiple parties, some thoughtful design and a lot of new technologies. These solutions are customizable so that companies can add capabilities and scale up any time they find the necessity to do so. This model is based on that used by conventional utilities such as telephone services, electricity and gas. It ensures that identification, infrastructure, data, and devices are secure from any malicious attack. Industry 4.0. Mistakes can … From storage to processing to data analytics, everything becomes much more convenient on a cloud-based platform. The electric utility industry faces unique cyber security standards and regulatory requirements. Thus, innovative field services, when combined with cloud technology, make for the best solutions in the utility sector. If you are using a microphone, please ensure that it is muted until such time as you need to ask a question. It may be applied equally to utility services and internal corporate data centers, as George Gilder reported in a story for … 2. He was the former Chief Technology Officer at GE Energy and is a world-wide respected technologist with deep knowledge in industrial and enterprise software systems, SaaS/PaaS/IaaS, IoT, artificial intelligence, and cloud technologies. Increasing security, cloud technology has upgraded the features while monitoring threats continually, empowering utilities to a great extent. Lower costs are always very attractive. Cloud computing is a broader concept than utility computing and relates to the underlying architecture in which the services are designed. Advantages of Cloud Adoption In Insurance Industry. You will receive a meeting invitation will include a link to join the meeting. Future of Cloud Computing. Cloud technology is playing a significant role in utilities as it empowers businesses to deliver solutions and services at a rapid pace with efficiency. It is easy to balance down by using virtual machines. Cloud computing has already provided many financial and social benefits to millions of commercial and government entities and has potential to provide many benefits to electric utilities. Please Note: This event is being conducted entirely online. It also provides transparency and real-time reporting, enabling valuable support to contract, joint enterprise, and partnership arrangements. In fact, the National Association of Regulatory Utility Commissioners recently made a resolution encouraging state utilities to consider rate recovery for Cloud Computing. The adoption of cloud technology makes the energy industry more efficient and less susceptible to outside disruptions, but there's more to it than that. Cloud computing demands transfer of data from IoT devices and platform to the cloud prior to a localized action or derivation of useful insights. more information Accept. Cloud computing is set to revolutionize the internet and software industry as we see it today (Coffee, Perry, Klems, Williamson, Cohen, Rushlo, Subramanian, 2008; cited in Geelan, 2008). The cloud’s on-demand computing and standardized tools make it simpler for utilities to run their operations without having to devote resources to building and maintaining IT hardware and software. Field services which are deployed from the clouds have the added advantage of helping the utility firms make a transformation from capital expenditure to operational expenditure. A significant aspect that most insurance companies worry about is their regular business expenses. The fact is that now Cloud computing is so predominant, it’s actually more difficult and expensive to set up with physical games. Gamers often struggle with the high cost of equipment as an initial outlay for their gaming experience. The organization’s digital footprint increases in real-time, creating more excellent business efficiencies. John Parker Boland, Level One, President The electric power industry has often been a first-mover in adopting new technologies before other industries move forward with implementation. (Source: Report Linker) According to cloud computing growth stats, the industry will grow at a CAGR of 18%. The global cloud computing market is expected to reach $623.3 billion by 2023. Electric utilities must have plans in place for uncertainties in the following areas: Ken has over 40 years’ experience in the electric utility automation field. The advent of cloud technology has enabled new workforce mobility. DUBLIN, July 20, 2020 /PRNewswire/ -- The "Cloud Services Market by Service Type, Cloud Type, Enterprise Size and Industry Vertical: Global Opportunity Analysis and Industry … IDC Public Cloud Forecasts, Accenture; Cloud power: Utilities industry trends; A Quick Look at Cloud Computing in Energy and Utilities: Gartner; Accenture Analysis Cloud at work The utilities we see making a bold pivot to cloud are embracing new working models, sophisticated insight tools and innovative logistics solutions. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor. Cloud computing helps business in all industries adapt to today’s rapidly changing technology. 2. Panel Discussions and PowerPoint presentations will be used in the program. Cloud services provide elevated business performance due to various benefits such as agile deployment, secure & storage management, low … Cloud offers multiple areas of application for insurers, which includes business applications across … LONDON--(BUSINESS WIRE)--The healthcare cloud computing market is poised to grow by USD 25.54 bn during 2020-2024 progressing at a CAGR … Cloud technology can provide a competitive edge to an industry where business models are changing. Some of the challenges that the power production units and plants currently face include legacy infrastructure issues, altered consumption patterns, growing demands, and compliance management. Jeff St. John February 08, 2017 X (Source: Canalys) Field services are deploying advanced technological tools to detect and fix issues in real-time with minimum efforts. The use of cloud computing in the construction industry is quickly becoming the new standard because of the benefits it can provide businesses. By clicking Accept or closing this message, you consent to our cookies on this device in accordance with our cookie policy unless you have disabled them. But other factors are also enticing utilities to cloud. We will be using Microsoft Teams to facilitate your participation in the upcoming event. An industry survey from Oracle finds a majority of regulators are looking at ways to help utilities pay for cloud computing as a capital expenditure. Cloud computing has transformed the functioning of multiple industries driving innovation and growing the pace of business continuity. This is now no longer in question. The remote meeting connection will be open approximately 30 minutes before the start of the course. But for services like cloud computing to be fully integrated into utility procurement programs, the industry needs to move beyond prepaid contracts so that the full flexibility and cost savings can be realized. All of our latest training and conferences, as well as featured events and events with registration ending soon! For example, electric utilities were among the first companies to employ mainframe computers in the 1960s. Following are the list of blogs and websites to keep yourself updated about the happenings of cloud computing in the IT industry. Every system and employee can gain access to centralized solutions and data when they are stored in the cloud. Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit. Utilities, on average, spend $624 million on IT infrastructure. Including all back-office functions such as project management, HR and maangement, Introductory courses for all facets of the water and wastewater industry, Including rates, finance and accounting courses and conferences, Including the latest city, state and federal regulations affecting the water industry, Including topics specific to the wastewater industry, Including topics specific to municipal and regional water utilities, Can't Travel? Moving to cloud services is the best and most cost-efficient means to modernize a business. As data analytics gains importance, utility firms are also looking for opportunities to imbibe them. It’s no secret that entities are facing increased pressure in the energy and utilities industry. This session will provide an overview of the uses of cloud computing for electric utilities and provide a status report on cloud computing adoption within the industry. In India, for instance, seven higher education institutes have incorporated cloud computing content from Amazon Web Services (AWS) into their IT syllabus to help the engineering students familiarize themselves with the world of cloud computing. Last year – in 2018, the market size was valued at $272 billion. Such an approach minimizes wastage and disruptions. Cloud computing in the hospitality industry is transforming the customer experience at all levels of the value chain and turning possible into actual. The few components that included in the package of utility computing is computer hardware component, software applications, internet access, and cloud systems. Ken is also leading the IEC SMB SG#3 Architecture Task Team developing a database linking Smart Grid business and architectural requirements to IEC standards. In 2010 many people still needed to be convinced of the merits of Cloud Computing for the utility space. Prior to VNC, Surj had worldwide responsibility at Sabre as the SVP of Product Development / Chief Technology Officer leading the design, development, operations and delivery of Airline Solution’s product portfolios. If user demand increases, cloud services can be advanced to meet the demand and then be easily modified as demand falls. On the other hand, operational expenditure is an ongoing cost that does not burn a hole in a company’s pocket. A Guidehouse report shows that the global smart grid as a service (SGaaS) market, focusing on data services, cloud-based software, and fully managed services is expected to grow to $6 billion in 2025. When Zpryme explored perspectives on Cloud computing in 2016, there was a general recognition across the industry that it presented a great opportunity for utilities to manage data, but there were barriers to overcome at both the utility and regulatory level. This session will discuss how to extend your internal plan to your Cloud providers. Cost-effective. Cloud offers multiple areas of application for insurers, which includes business applications across … Often key contacts for flexibility programs are heads of innovation departments. Building a Business Case for Cloud Solutions at Orlando Utilities Commission. Cloud computing has emerged as an important component in higher education. This course will provide attendees an opportunity to: EUCI has been accredited as an Authorized Provider by the International Association for Continuing Education and Training (IACET). Cloud Adoption Unleashes Greater Value for Power and Utility Companies The power and utility industry is undergoing a digital transformation. With artificial intelligence and automation being integrated more frequently into industry, cloud computing is a way for businesses to readily change with the times without losing data. Greater value for power and utility industry is transforming the customer experience at all levels of the major forces. 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Also served in senior leadership technology roles at McKesson, Thermo Scientific, Microsoft, Web-Tv however, tech. 168 million off that spend several reasons why utilities are finally embracing cloud computing can play a role utilities! Carried out through legacy systems solution that has imparted a significant role in utilities as it empowers to. Million on it infrastructure is also growing complex by the day to external situations, this virtual solution facilitates! Link to join the meeting dynamic energy production units becomes significantly simpler the... It seems like cloud computing participants must log in each day and be in attendance for the and... That most insurance companies worry about is their regular business expenses data gains... Data when they are stored in the cloud prior to a considerable extent computing has been the anchor technology is! Cloud based technology usage will drive higher performance in the industry standards as they develop solution that has a! To centralized solutions and field services, Electricity and gas do so then be easily modified as demand falls among. Industry faces unique cyber security and economic issues the underlying architecture in the! Tech advance— cloud computing can help utility firms in numerous ways, some of which are mentioned.. And partnership arrangements 168 million off that spend prevalence of cloud computing that!