SCHNEIDER Electric of France, a global specialist in energy management and automation, has ushered in a new era of the digital economy for its stakeholders in Thailand and other countries around the world.
At its Innovation Summit in Hong Kong from September 25-26, Jean-Pascal Tricoire, chairman and CEO, said the digital economy is emerging in virtually all markets where the Internet of Things (IOT), artificial intelligence (AI) and digitalisation are accelerating.
This opens up new opportunities for companies to be more efficient, disruptive and differentiated.
His message is consistent with the government’s Thailand 4.0 initiative aimed at boosting the country’s international competitiveness via the digitalisation of economy and society.
Tricoire, who is based in Hong Kong due to its proximity to mainland China and other fast-growing Asian markets, said Schneider’s strategy is to provide open and practical technologies that facilitate the digital transition.
In Thailand and more than 100 other markets, Schneider whose annual sales are about 24.7 billion euros, aims to help turn bold ideas into action via an ecosystem of customers, partners and other technology leaders, according to the executive.
For example, EcoStruxure for IT is designed to offers new-generation cloud-based data centre infrastructure management which provides real time and predictive analytics, while the ecosystem for buildings and industries features a collaborative smart building platform and facilitates more efficient collaboration between people and processes.
Overall, the digital transformation is heading towards the business-to-business (B-to-B) sector after making huge inroads into the business to consumer (B-to-C) sector over the past decade.
According to Tricoire, the digitalisation of power and energy management around the world is projected to result in a minimum of 30 per cent energy savings plus a significant reduction in Co2 emissions.
For data centres and industries, savings are estimated to be about 50 per cent and 30 per cent, respectively.
This can be achieved by upgrading the existing energy management and related systems via digitalisation, decentralisation and adoption of IoT devices.
Overall, surveys show that about 70 per cent of power and energy management systems currently in use are still inefficient so there is a massive room for more efficiency and energy savings which can also be facilitated by cheaper renewable energy and storage facilities.
Over the next five years, most buildings, machines and factories will likely be connected and Internet-based to create smart buildings, automated factories and a new generation of power grids in which power plants will be connected with homes which become both power consumers and power producers via solar and other renewable energy generation.
More efficient energy management for data centres is also crucial due to the widespread use of mobile devices which need cloud computing facilities and massive data centres around the world.
AI and analytics for predictive maintenance of machines, factories and other assets are also expected to grow rapidly to boost safety.
As for buildings, most data are still untrapped so digitalisation will help boost efficiency.
Regarding the cloud computing facilities, there are now about 8 billion Internet-connected devices which can facilitate the emergence of more intuitive industries and new platforms for predictive industrial and other asset maintenance that tackle failures before they even occur.