Advancing Technology & Innovation
At AEP, we understand that the growing demands of the 21st century economy will require smart, comprehensive and sustainable infrastructure solutions. That is why, as one of the largest electric utility companies in the U.S., we are working every day to identify innovative solutions to meet the rapidly evolving needs of our customers and our business.
For AEP, this means getting ahead of the curve through advanced energy infrastructure and preparing for advancements in transportation and other major catalysts for economic growth – before they come online. Innovation has been part of the fabric of AEP for more than a century, and, in 2017, we took bold steps to create new avenues for corporate-wide innovation. We believe AEP is well-positioned to leverage our scale, industry experience and skilled workforce to provide our customers with a comprehensive package of innovative energy solutions.
This strategy allows us to embrace mobility, analytics and automation, and gives us the room to take prudent risks. Today, we are adjusting our mindsets and embracing new strategies to navigate this evolving environment and shifting our focus to a different type of innovation that is more customer-centric. We are at the start of this journey, and we know it will take time, but our commitment is clear.
To encourage and support innovation at AEP, we created The Innovation Hub as a mechanism to speed up our problem-solving processes, using a continuous improvement/start-up approach to create new products and services or change existing ones in days instead of weeks, months or even years. At AEP, the innovation process comprises four phases: