7 TCS AI for Business Study – Utilities Report Executives want to innovate and make money with AI The Utilities industry is only slightly less focused on using AI to spur innovation and grow revenue than are most other industries. On a 10-point scale between “optimization” and “innovation,” Utilities executives averaged 6.66, compared to an average of 6.73 for all other industries. Q. On a scale of 1 to 10 — where 1 is solely interested in using AI to lower costs and optimize operations and 10 is solely focused on spurring innovation and revenue growth — where would your company's current approach toward AI fall? 52% 22% 15% 11% 62% 21% 3% 14% PACESETTERS Utilities Focused on optimization, but with an eye toward innovation Solely or mostly focused on using AI to grow revenue and spur innovation Solely or mostly focused on using AI to lower costs and optimize operations Focused on innovation, but with an eye toward optimization Utilities Pacesetters are even more focused on innovation: of respondents at Pacesetter organizations said they are primarily focused on innovation 83% said they are more interested in using AI to optimize operations and cut costs 17%