WEF Report Highlights Implementation, Standardization of AI in Energy Transitions

Artificial intelligence (AI) will play a key role in intertwining the power, transport, industry and building sectors while helping to decentralize the power industry as energy systems across the world move toward decarbonization, according to a new report by the World Economic Forum in collaboration with BloombergNEF and Deutsche Energie-Agentur (dena). The report says AI has the potential to accelerate a reliable and low-cost energy transition, including integrating renewable energy resources into the power grid, supporting proactive and autonomous electricity distribution systems as well as opening revenue streams for demand-side flexibility. The technology can also help accelerate new clean energy and storage uses. AI can simplify the management and cost of energy sources for organizations while managing a large amount of data and increasing the efficiency of those sources. This new report highlights ways to implement the technology in a way to standardize a renewed energy production.