Internet of Things (IoT) devices have become a foundational component for real-time monitoring and control of utility services, providing enhanced safety and security.
Utility companies are increasing their investment in endpoint monitoring at a rapid pace. Globally, the IoT in the utilities market is forecast at $53.8 billion in 2024, growing at a rate of 13.5% per year. As IoT takes on a larger, and more defined, role in safeguarding utilities, there are opportunities and challenges ahead. In this article, we will take a look at both.
Here are some of the key ways utility companies are deploying AI and IoT to help keep infrastructure safe and secure.
Real-Time Monitoring and Control
IoT devices create enhanced situational awareness to identify threats and problems for proactive mitigation. Smart sensors can detect minute changes in infrastructure that impact performance, altering technicians to take action when needed. For example, smart meters can transmit real-time consumption data so thatutility companies can dynamically adjust load balances to avoid overloading grids.
- Opportunities: Real-time data and alerting to prevent threats and control operations.
- Challenges: Mass amounts of data require sophisticated analytics to translate data into actionable insights.
Early Detection of System Breaches or Failures
The best time to detect any system breach or failure is before it results in theft, vandalism, or impact on operations. Smart sensors can pick up anomalies in pressure, temperature, or electromagnetic fields, flagging potential equipment failures or physical intrusions before they escalate into larger issues.
- Opportunities: Early detection can save lives, prevent environmental damage, and minimize financial losses.
- Challenges: False positives and threat fatigue can overwhelm operators. You need an AI-powered solution that can identify and prioritize alerts.
Integrated Security Solutions
Creating networks of IoT devices and monitoring them within an integrated security system can provide total visibility and awareness. For example, smart systems can couple IoT cameras with AI-enhanced software that can tell the difference between humans and animals to help identify threats.
AI-powered anomaly detection can help create a layered security defense, making it more difficult for threat actors to get past your perimeter.
- Opportunities: Layered security through AI-powered anomaly detection provides comprehensive protection against diverse threats.
- Challenges: The complexity of managing and maintaining multiple endpoints can create Interoperability issues between different vendors and technologies without a centralized platform.
Robust Compliance
As endpoints and connected devices expand, so do concerns over data privacy and data handling. The amount of data being gathered and stored is growing exponentially, and the regulatory landscape is evolving consistently. Operators need robust governance and standards to maintain data privacy and security.
This can get complex as many IoT devices do not have built-in security or encryption. It’s up to system integrators to deploy security by design in systems to avoid breaches.
- Opportunities: Establishing clear data privacy and security protocols builds trust and ensures responsible data collection and usage.
- Challenges: Rapidly evolving technology often outpaces existing regulations, requiring flexible and adaptable regulatory frameworks. You need an agile solution to manage compliance.
Conclusion
Harnessing the potential of IoT requires a holistic approach to managing both the opportunities and challenges. Deploying interconnected systems can enhance safety and operational efficiency while managing governance and regulatory compliance.
EPIC iO deploys sensors and IoT devices to collect the information you need, creating an interconnected solution for monitoring, alerting, and controlling your critical infrastructure. Contact the Utilities experts at EPIC iO today.
