AR may benefit investor-owned, municipal and cooperative utilities in improving business processes. It can speed power restoration and help address the challenge of an aging, retiring utility workforce by facilitating the preservation of institutional knowledge.
According to the industry experts, the energy and the utility sector are expected to spend more than $15 billion annually by 2021 on AR technology.
Utility segment is expecting to achieve a 15% – 20% increase in efficiency with AR.
Automation vendors are claiming plant and output downtime reduction by as much as 30%, and as a domino effect, an uptick in throughput by as much as 10 times over.
AR is enabling an outcome based combination of competency and real-time risk assessment that has resulted in this multi-billion dollar segment within the wide spectrum of automation solutions the energy and utility sector is increasingly gearing up for. AR, coupled with other emerging technologies like AI and robotics, will bring an acceleration in revenue growth, increase organizations’ agility and improve risk management.
The utility industry faces some significant workforce challenges ahead as the baby boomers retire. Industry hiring managers often report that lack of candidate training, experience, or technical skills are major reasons why replacement personnel can be challenging to find – especially in electric power generation. AR can be used in training employees and assisting new workers.
With AR, technicians can overlay a 3D model on an actual piece of equipment or view the internal components of equipment and explore its inner workings. System repairs and upgrades are faster than ever before. The field technician can immediately order the correct parts and mobilize the crew with the specific skills to expedite repairs and power restoration much faster than a manual response can. AR also can help a field technician who may lack the knowledge, experience or access to data required. An AR equipped mobile device would enable a subject matter expert to advise the field technician on what steps to take. AR can improve operational safety, allowing for better visualization of underground assets and complex components, reducing accidents. And there is so much more to how AR is transforming utility operations.
Let’s set a time to talk so we can share what we are working on, what we have learned and how we can work together to explore and advance AR in your utility.