It's going to transform the business models of most industries. There is no reason to think that the energy industry is going to be exempt. We can already see the early signals in the way in which goods and services are now being procured through industry or cross-industry portals. The fundamental model of nature and business is going to apply - adapt or die. Adapting to this new technological opportunity and threat is easier than it looks.
New entrants targeting the industry have more barriers than in some others.
The potential for the existing players to embrace the change and capitalize on it is huge. The recommendation is to get moving - do something to build experience and to be a player. Start moving your company from an assets-only company to an assets plus knowledge company. Good luck - get a strategy and keep moving. Ian Miller, president of EDS' Energy Industries Group, oversees the company's business in the oil, gas, utilities and chemical industries.