Emerging AI Breakthroughs Revolutionizing the Energy Industry

Emerging AI Breakthroughs Revolutionizing the Energy Industry

Energy CIO Insights | Tuesday, July 23, 2019

The adoption of Artificial Intelligence (AI) in the energy industry is powering innovations and helping in developing the smart grid of the future.   

FREMONT, CA: The energy sector has long been aware of the power of AI(Artificial intelligence) with its applications extending beyond the regular conventional use cases. AI has seen several years of exponential development with the abundance of data and a massive reduction in the cost of computing power. All across the world, AI experts are working together to find real-world applications for it. The energy sector is an ideal case to see how this happens. Many of the traditional ways of working in the energy industry are ripe for an advanced AI intervention. It presents an opportunity to grab quality service and enhanced customer satisfaction. Here are several ways AI is being applied across the energy industry.

•    Control Room and Network Planning

The entire power sector is harnessing only a small fraction of data currently. Because it requires specific expertise to consume and gain data insights. Recent innovations in neural learning have nurtured new categories of value-added business applications, and energy industry realizes the need to leverage their data. Experts in the industry believe that AI could be used in decision making in control room and network planning. Also, deep learning leverages utility's data and external data to anticipate outages and deploy response teams to restore power and predict system maintenance quickly. This approach can drive faster disaster recovery and better management and reduces cost.

•    Smart Grids

With grids gathering energy from different sources, operating these systems has become more complex. AI's ability to analyze massive datasets can bring stability and efficiency to these new information sources. Also programming the network with past data on power fluctuations and weak spots on the grid can make the new autonomous grid more seamless and responding to significant events on its own.  With AI, smart grids can better manage to handle different types of energy sources at once.

•    Energy Consumption

By monitoring energy consumption behavior of consumers, AI is offering a solution to optimize power usage. Smart thermostats adapt to user behavior to reduce energy consumption. Once installed, it begins learning the habits of consumers and adjusts the temperature accordingly. Machine learning technology can be adopted to predict atmospheric conditions and climate, including the amount of energy produced by the power plants.

•    Energy Storage

As energy storage capacity increases and technological innovations emerge, AI is helping make usage more efficient. AI can map out energy usage and allow customers to track fluctuations in energy rates to more efficiently use storage. This rise of the intelligent energy system is powered by AI to ensure that energy source is reaching its full potential and is the best way forward for the energy sector and consumers. Coupled with other technologies such as big data, cloud, and  Internet of Things (IoT), energy storage with AI can play an essential role in power grid management by improving the accessibility of power sources.

For those providers who seek to influence the future of utilities, the interface between AI and energy is an excellent start. Their synergy can change the world and open up opportunities while improving sustainability.

Few IoT Companies:LX Group , PTC , RenGlobe Tech solutions

See also : Energy Tech Review

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