How are today's advanced technologies and the digital transformation shaping both the present and future of the utility industry? Aricent’s Stuart Borlase is the Editor-in-Chief and co-author of the second edition of a book that highlights the latest technologies, business drivers, benefits and market outlook of the smart grid initiative.

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The world is hurtling towards a cognitive information and communication future, and the lines between physical, digital and virtual assets are blurring. There is a lot of buzz about how to connect the dots in our digital world to create successful business models. While change is evitable, carefully crafted adaptations are required to survive in the hyper-competitive digital era.

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The term Internet of Things was first coined 18 years ago. Today, it is a global phenomenon at the center of the next generation of digital innovation. But its future is not yet assured as IoT needs a robust infrastructure and backend applications able to support the billions of devices that are being connected to the internet.

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Alibaba, China’s e-commerce giant, unveiled a car a year ago called the OS’Car RX5. It’s one of a growing list of companies-both automotive and technology companies-that are introducing driverless cars. For example, Google’s Waymo is currently undergoing testing and Tesla recently started production of its mass market Model 3, which will have fully autonomous capabilities.

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The word augment means to make something greater by adding to it. Augmented Reality (AR) is a technology that superimposes or layers virtual information onto real life. The digital information enhances, makes greater, our ability to navigate and explore the real-world environment.

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Internet of Things or IoT is a technology that deals with bringing control of physical devices over the internet. We are already surrounded by smartphones, smartglasses, smartwatches, and smart homes, but IoT will create an explosion of new devices and applications, one of which is the smart office.

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