The energy industry is producing massive amounts of data. Major energy players— from oil and gas giants to renewables companies are using artificial intelligence to turn this data into insights that can improve productivity and cut costs.
Below are, closely related trends have continued to record growth in the utility industry in the last year as the technologies have proliferated:
Solving the demand response:
When demand changes greatly, it can be very costly for countries that produce most of its energy from renewable sources. With most countries shifting to green energy, responding effectively to demand swings is becoming even more difficult. They use large historical data sets to train their machine learning algorithms–as well as data gathered from wind turbines or solar panels–to effectively forecast weather and power changes in order to match supply and demand accurately.
Implementation of Predictive Maintenance:
With artificial intelligence equipment observation and failure, detection can save money, time and life before it occurs. Predictive maintenance (PdM) can be carried out using machine learning techniques. Essentially, power lines, machines, and stations have sensors that collect data from time series (data with timestamp).
Saving costs of doing operations:
Utility companies seek efficient ways of handling waste, improving process business efficiency and cost-efficiency. Data platforms can underline areas of inefficiency, allow providers to operate rapidly and reduce costs.
Our AI solutions like operations optimization and use of IoT for energy industry, can give you insights on predictive maintenance, minimizes the machine downtime, and increases the overall efficiency of the system. AI systems are flexible and scalable, making them adaptive to any radical shift and it also helps in the introduction of new innovations. Other benefits of AI Systems are:
- Continuous and standardized processes automation capability.
- Data protection, safety and risk management.
- Transparency and visibility in the supply chain and logistics.