Global tech report 2024: Energy insights

Key findings
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Balancing the shift to renewables with the critical need for energy security

The energy industry is at a pivotal moment of transformation, balancing the shift to renewables with the critical need for energy security. As global companies navigate this evolution, the question arises: How can energy firms use cutting-edge technology to overcome complex challenges and gain a competitive edge?

Navigating today’s energy landscape requires more than just keeping pace with technological change – it demands a strategic approach to help ensure every tech innovation delivers real value. The challenge lies in cutting through the hype to make evidence-based decisions that foster resilience, efficiency, and growth. For energy companies, scaling tools like AI and advanced analytics must be done with a focus on safety, responsibility, and measurable impact.

The energy view of the KPMG global tech report offers a unique lens into how technology leaders across energy, natural resources and chemicals are achieving this delicate balance. With insights drawn from 122 technology professionals across the sector, this report provides actionable strategies for harnessing technology responsibly and effectively.

KPMG global tech report: Energy insights

Drive the next wave of digital transformation with data and decisiveness

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Survey participants

122

energy industry executives

19

countries and territories

$1B+

in revenue (USD)

Key findings for energy leaders

Energy executives demonstrate higher confidence in technology investments compared to peers in other sectors, signalling a willingness to take strategic risks.

Energy companies are leading in AI maturity, leveraging it to unlock business value and optimise operations.

Despite advancements, data maturity gaps hinder the ability to fully quantify technology ROI, with energy executives trailing cross-sector averages in data management.

Energy organisations excel in extracting financial returns from cybersecurity investments, with many reporting profitability gains exceeding 16%.

About KPMG's global tech
report for energy

This report delivers actionable insights for energy leaders looking to drive innovation and profitability through digital transformation. From mitigating risks in renewable integration to securing operations against escalating cyber threats, we explore strategies tailored to meet the sector’s unique challenges.

Our KPMG Global tech report provides fantastic insights into how energy companies are facing into current and future waves of digital transformation. As energy companies grapple with the need to diversify their operations and support the energy transition, they are also dealing with the practical issues of safe, affordable and reliable supply to customers. Based on the experience of 122 energy technology leaders across 22 countries, there is evidence that opportunities to leverage data insights, methodically experiment with AI around value cases, leverage cyber security frameworks and take a cross value view, they can accelerate their digital transformation. I urge you to read the report and reflect on your own organisations approach and challenge yourself to see what you can learn from others.

James Arnott

National Industry Lead, Energy, Mining and Property

KPMG Australia