In a bid to target global digital utility market which is estimated to reach $299.1 billion by the year 2025, HCL Technologies has partnered with Harris Geospatial Solutions to offer AI-driven, remote sensing data analytics system to its utilities customers. According to IT consulting firm, the combined system will allow utilities to have a more active, controlled view of information through the use of remote sensing systems, which includes Unmanned Aircraft Systems (UAS), manned aircraft, and space-borne data sources.
The company said that using a form of artificial-intelligence (AI) technology, the system will analyse data to automatically assess asset conditions and flow derived insights to critical asset operations such as work management, asset performance monitoring, and geographical information systems (GIS).
“The utilities industry is poised for a continual and rapid transformation, given the proliferation of technology,” said Ajay Bahl, Executive Vice President, HCL Technologies. “In this environment, digital innovation will become a driver of productivity and efficiency as well as a competitive differentiator. We are pleased to partner with Harris Corporation to deliver a system that will support this growth and innovation.”
“Harris Corporation is committed to meeting the emerging needs of the utility industry as market demand increases,” said Erik Arvesen, Vice President & General Manager of Geospatial Solutions at Harris Corporation. “Working in partnership with HCL provides a powerful combination of analytics technology leadership from Harris with HCL’s proven record of delivering digital technology transformation to the industry.”
This launch comes as utilities companies are increasing the use of technologies such as artificial intelligence (AI) to improve operations and productivity. At the same time, the demand for services will increase, making the rapid deployment of services and network analysis critical. According to market research firm Million Insights, the global digital utility market is estimated to reach $299.1 billion by the year 2025.