03 11

Innovative advances in artificial intelligence (AI) in energy are improving the way the world consumes, sells, and creates energy at a time when the environmental impacts of the global power grid are under constant scrutiny.

Companies are using AI and machine learning (ML) to take deep dives into data that can drive better decision making, cost advantages, and predictions that can stave off energy disasters and expensive downtime.

AI-enhanced software platforms and smart tools can dig into energy data to create predictions about potential outages and equipment failures and run energy companies more efficiently and profitably.

AI-fueled tools can help companies create ideal maintenance schedules by analyzing data from sensors used to monitor equipment and detect failures ahead of disasters.

Schneider Electric leverages Microsoft’s machine learning capabilities to monitor and configure pumps in the oil and gas field remotely, since early detection of a pump failure can avoid weeks of the equipment being out of commission and repair costs of up to $1 million.

Tools like the Carnegie Mellon University-designed Lumator analyzes data about customer preference and consumption and compares it to available energy provider offers, including limited-time promotional rates.

In addition to cost savings, tools like Lumator can help to increase the share of renewable energy being used by analyzing consumer preference for renewable energy sources and reporting on the demand to energy producers, which can adjust supplies accordingly.

Add your comment