With the need for energy doubling, energy technology is also gradually evolving.
FREMONT, CA: This year of 2020 is ripe for the digital revolutions amid all the calamities such as the outbreak of the novel COVID virus. The energy industry has been reinforcing its move towards going green both operationally and technically with the various changes that the pandemic has brought about both in terms of the regulatory framework and business and economy. This has further given rise to the transformative and progressive drifts in energy technology lately. This article takes you through the latest happenings in the energy industry that is centered on technology.
Just like how the technology of artificial intelligence has made its inroad into various industries, the potential of this technology is rife in the realm of energy as well. AI is a perennial technology as it has a progression almost every single day. The energy companies of today are employing algorithms that are based on AI not only to capture important and impactful data but also to analyze it and draw valuable and actionable insights that can back the modern steps of the energy industry. By using the information that AI gives about the market, energy companies can not only select the right set of technologies but stay in tandem with the modern business circumstances as well.
Technologies that are based on the core of sensor and the internet of things also have a dynamic influence on the patterns that pertain to the consumption of energy, and also its generation. The smart energy tracking systems are a result of the upgradation in energy technology. These solutions also involve the application of smart metering systems, smart energy management protocols that learn from the practical scenario and situations about the real value and behavioral patterns of energy consumption with the help of cognitive technologies.
Energy companies are increasingly focusing on improving the security aspects of the grid with the help of advanced cybersecurity mechanisms. Also, the industry is prioritizing distributed energy resources. Together with all the smart initiatives, the energy industry is getting high on tech.
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