A figure passes the dynamic map board showing power distribution through California’s electrical grids in a control center. The energy sector may be lagging in addressing the risks and exposures associated with the pace of digital change.
Photo: David McNew/Getty Images
Expanding digitalization is a core characteristic of the energy sector’s ongoing transformation. However, while enjoying all the benefits, the sector may not be adapting its risk management approaches quickly enough to manage the exposures and risks associated with the pace of digital change.
Speed of Response
Digitalization enables agile and responsive energy infrastructure, but the energy sector will need to likewise adopt dynamic resilience concepts to respond to evolving risks. A critical aspect of building resilience includes capacities for speed of response in the event of a cyber breach or digital breakdown.
The adoption of intelligent, sophisticated technology, including artificial intelligence for control and monitoring systems, is enabling new business…
