Info!
UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.

Businesses increasing investment in digital transformation and sustainability

Petroleum Review; 23-9-2021

A new survey by industrial software company AVEVA has found that 85% of businesses plan to increase their investment in digital transformation over the next three years in order to tackle climate change, embrace automation and unlock the performance benefits of advanced technologies.

AVEVA reports that nine out of 10 companies see combining advanced technologies such as the industrial internet of things (IIoT), artificial intelligence (AI) and the cloud with their teams’ insights, as key to driving better performance in a post-pandemic world. Furthermore, COVID-19 has increased focus on the need for urgent climate action and the majority of industrial enterprises (90%) cite this as a core action area. Nine in 10 (89%) are committed to achieving net zero carbon emissions across their businesses and to tackling climate change within a five-year time horizon, the survey found.

Some 85% of those surveyed expect sustainability-led demands to drive innovation across the value chain. As a result, these companies are planning to increase visibility and performance assurance to sustainability related metrics.