Christian Wirth explains how a shift towards virtual and remote work environments alongside evolving customer preferences have combined to create an environment rife with uncertainty and unpredictability for utilities
Extreme weather events such as recent flash floods, forest fires, and deep freezes have left grids facing a multitude of hazards. These unpredictable events coupled with the decentralisation of power generation and storage have left grids susceptible to a larger array of geographical vulnerabilities. As with every industry, technological adoption is increasing ten-fold, and with that also comes an increased risk of physical and cybersecurity attacks. For utilities, the notion of ‘smart grids’ in itself represents a significant vulnerability, reflecting the increase in assets and devices in the field, as well as the growing interdependency between online and offline infrastructures. The expanding and constantly evolving Internet of Things also leaves operators at increased risk of ransomware attacks.
These new operating realities require the sector as a whole to pay its utmost attention to implementing a network risk model, that should be put in place before an incident forces action. Businesses now more than ever require maximum network uptime, which in turn necessitates a resilience strategy focused on open infrastructure dedicated to quality customer service.
A McKinsey report documented how the highest-performing companies across industries were those that made bolder investments in technology post-pandemic. Indeed, in today’s era of artificial intelligence, smart grids and big data, threat levels across the board require a […]
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