Technology Record - Issue 28: Spring 2023

141 The North American power and energy firm uses the cloud-based AVEVA Data Hub to collect and share secure information about its renewable energy operations with utility customers. They can then communicate this information about their lower-carbon operations with investors and environmental auditors. Dominion has a new source of revenue, its customers can substantiate their sustainability goals, and the entire ecosystem moves closer to a net-zero economy. AVEVA and Wakefield Research’s Connecting The Future study showed that almost nine in ten (87 per cent) business executives worldwide recognise that they need connected data because it can deliver unique insights to address challenges such as economic instability, shifting geopolitical situations, historic labour shortages and disrupted supply chains. The study polled 650 executives at global companies with a minimum annual revenue of $50 million in the chemicals, manufacturing, and power industries across North America, Europe and the Middle East. Above all, connected industrial economy solutions will be essential to channelling the gains of the industrial metaverse. Industrial data, the digital twin and immersive environments for enterprise and operations collaboration are the three major elements of this new iteration of the industrial internet. By infusing actionable information with artificial intelligence and making it available to internal and external teams, the industrial metaverse will offer an unprecedented and sustainable approach to solving business challenges in real time. Arkan discussed the potential power of the industrial metaverse at AVEVA World, saying: “What the industrial multiverse does, is bring people together in a very, very profound fashion.” He noted that such collaboration will spur sustainable co-innovation, while helping to bridge the widening skills gap, adding: “The industrial metaverse is a fantastic context for partnerships. And as we see more automation, it is also a wonderful context for robots and people, human beings to actually safely collaborate together.” It’s clear that taking an aggressive position in the Connected Industrial Economy today is the only way for companies to safeguard their future. Read the full Connecting The Future study at: Connecting-the-Future_Manufacturing.pdf Andrew McCloskey is chief technology officer and executive vice president for research and development at AVEVA INDUSTRIALS & MANUFACTURING Andrew McCloskey, AVEVA with panellists from Schneider Electric, Microsoft, Suncor and Gwinnett Couny Water at AVEVA World San Francisco 2022