Tag: Industrial Tech and Transformation

1-Minute Roundup: The Top Stories Shaping Your Industry - Ignite News

The most important stories on industrial digitalization from around the world in the past two weeks.

UK looks to low-carbon hydrogen: A new strategy released by the UK government defines an approach to developing a low-carbon hydrogen sector. The ambition is to reach 5GW of low-carbon hydrogen production capacity by 2030.

European Commission proposes renewable energy directive revision: The revision would increase the overall binding target for renewable energy in the EU energy mix from the current 32% to 40%.

“Green Gold Rush” continues: Countries are investing in alternative energy and technologies to reach net-zero goals and examine geopolitical consequences of a decarbonizing world.

US Senate passes biggest infrastructure package in decades: The deal includes $1 trillion in spending on upgrading transportation, clean energy, power infrastructure, and broadband.

Extreme weather puts pressure on industries and governments to accelerate climate actions: Heatwaves, drought, and floods have hit three continents this summer. Energy resiliency is critical for cities and communities. Are our power grids prepared for these external threats? Also see the updated UN report on climate change that finds Earth is warming faster than previously thought.

Cognite co-founder and CTO Geir Engdahl

In a 2014 blog post, Information Week contributing editor Lenny Liebmann looked at the emergence of big data and saw a need for a set of best practices to ensure that data science happens efficiently and reliably.  Liebmann called this discipline “DataOps,” or “the set of best practices that improve coordination between data science and operations. Seven years later, DataOps is a “top trend,” according to VentureBeat, and the race is on to sharpen the definition and claim a piece of the market.

Partner ecosystems are typical in the consumer world, but they have not seen equivalent uptake in heavy-asset industries. One major reason: Industrial data today is trapped in siloed systems, slowing innovation and competition and inhibiting cost reduction.

What would a major turn toward data sharing and ecosystems in heavy-asset industry look like? Consider the financial industry.

For decades, conventional banks collected valuable information about their customers and their transaction patterns, but the data wasn’t harnessed to its full potential. Banks, like industrial companies, operated in siloed systems, which were mostly closed and strictly owned by banks.

Open banking is upending this landscape, and banks are responding by changing their business models for good. 

COVID-19 may well have been the kick in the pants needed to push remote operations into the industrial mainstream, and there’s no shortage of surveys and trends reports to back this up.

In a November 2020 McKinsey insights report, a majority of companies said that the potential for remote work is determined by tasks and activities rather than occupations. That sentiment jives well with a similarly timed AIRINC survey among oil and gas companies.

While an overwhelming 80% of oil and gas respondents said that more work will be done remotely, they acknowledge that this simply won’t work for all types of tasks in their industry.

Ignite Talks September 2021 Save the Date

Save the date for Ignite Talks 2021: Sept. 21-23. The industries that power the world’s economies are transforming. Their goal: a greener, smarter second half of the century. What can we do — and what must we do — now through 2050? Get the answers at Ignite Talks 2021.

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Ignite - Green is the new gold article

2020 marked a turning point in the financial community, a point at which financial gain became irreversibly tied to going green. Companies in need of investment could no longer be deemed the greatest polluters of the plan, and net-zero targets went to the top of the priority list, right alongside revenue and EBITDA margins.

What sounds like a turn for the greener, others are calling a “deadly distraction.” In a USA Today opinion piece Tariq Fancy (former chief investment officer for Blackrock’s sustainable investing division) said that he led the charge to make ESG an investment norm, telling the world how sustainability benefits the bottom line. In the end, he said, it became marketing hype and PR spin, which isn’t going to do any favors for our warming planet.

ESG investments captured $51.1 billion of net new money from investors in 2020, according to Morningstar. We’re talking unprecedented amounts of money being poured into companies that preach environmental evangelism and carbon conservatism. But the question on Tariq Fancy’s mind is whether we are fooling ourselves to thinking that green investments can really turn around our planetary track record.

2020 marked a turning point in the financial community, a point at which financial gain became irreversibly tied to going green. Companies in need of investment could no longer be deemed the greatest polluters of the plan, and net-zero targets went to the top of the priority list, right alongside revenue and EBITDA margins. What sounds like a turn for the greener, others are calling a “deadly distraction”. In a USA Today opinion piece Tariq Fancy (former chief investment officer for Blackrock’s sustainable investing division) said that he led the charge to make ESG an investment norm, telling the world how sustainability benefits the bottom line. In the end, he said, it became marketing hype and PR spin, which isn’t going to do any favors for our warming planet.