AI maturity in the energy industry

Whitepaper

12 mins

Artificial intelligence (AI) and unstructured data are beginning to shape the energy sector, with many organizations already applying this data format in their AI use cases. However, few have fully realized the broader value unstructured data can offer and how it can enhance AI outcomes. To unlock the full potential of AI, the sector must establish strong processes for managing and leveraging unstructured data, enabling deeper insights, accelerating innovation, and building greater confidence in AI applications.

Findings are based on research conducted by Iron Mountain alongside independent market research specialist Vanson Bourne. Data in this report is based on 203 IT and data decision-makers at organizations working in the energy sector, who have knowledge or involvement in their AI strategy.

Three key takeaways:

Energy decision-makers report AI for automation is currently the most important tool for organizational success, with use cases around developing new products and services and reducing costs
The sector is more likely than average to use AI in manufacturing and production (energy: 56% and a global average: 41%), and supply chain operations (energy: 51% vs a global average: 39%)
Fewer energy organizations than the global average routinely leverage AI for unstructured data (19% vs 23%)

Iron Mountain commissioned independent market research specialist Vanson Bourne to conduct this piece of research. The study included surveying 1,400 IT and data decision-makers who have knowledge of or responsibility for AI strategy at their organization. Respondents’ organizations had to have 250 employees or more across the following countries: US, UK, France, Germany, India and Australia.

Organizations are from several public and private sectors but there was a strong focus in banking and financial services, insurance, healthcare and life sciences, media and entertainment, the public sector (excluding healthcare) and energy. This summary is based on 203 decision-makers in the energy sector.