Unique Conversation
Nick Akins is the CEO of AEP.
Universally, utilities know these days that innovation should be encouraged in their workforce, to improve the efficiency, resilience, and quality of their service to customers. They are, however, taking different approaches, and one leading utility, AEP, has a particularly unique innovation strategy.
As told here by its chief exec, an AEP team is literally searching the world for innovation and inviting all comers to show how their innovative technology or method would — if implemented by the utility — result in significant improvement. Chief exec Nick Akins also discusses herein the importance that AEP places on progressing from pilot to at-scale for the most compelling innovations.
PUF’s Steve Mitnick: Companies are talking about innovation, but you and AEP have taken a giant step and it’s unprecedented. What is this, and what are you trying to do with it?
Nick Akins: This is part of a process we’ve been focused on for some time. Originally, we invested in growth funds and technology funds, which gave us insight into the initial startup markets. But we wanted more.