Small percentage of LatAm energy stakeholders see high digitization progress

Only 8% of energy sector agents in Latin America and the Caribbean consider that their organizations have a high degree of advancement in digital transformation.

The result follows a survey conducted by IDB of public and private sector stakeholders in the region as part of a digitization roadmap study.

“In turn, approximately 40% of the agents consulted consider that they are in preliminary processes of awareness of the importance of the digital transformation of the sector, and, therefore, have not yet taken any action to initiate the process or are at a preliminary stage,” the regional development bank said.

The poll revealed that the private sector is more advanced on this front, which according to IDB, is due to greater investment capacity and the need to be competitive against other private sector companies.

The multilateral lender highlights the “need for the public sector of the region to accelerate, through the establishment of roadmaps, strategic plans and regulatory adaptations, its involvement in the digital transformation process.”

Source: IDB

Among the challenges for the adoption of such technologies in the region are the current focus on improving existing processes instead of innovation, the asymmetric distribution of costs and benefits, and the lack of homogeneous technical indicators.

IDB’s report is available here and in the Documents box in the top right corner.

For recent related developments, click on the following links:

Petrobras creates digital system to assess carbon emissions of its products

Petrobras approves 3 new digital twins projects

CEPM sees potential for digitalization of Suriname's power supply

ELMAR and InterEnergy Systems Dominicana join forces to drive sustainability and energy innovation in the Caribbean

EOR modernizes its main technological system at the service of Siepac

How two major Brazilian utilities are powering forward with IoT, digitization

Honduras stepping up power grid’s digital transformation