The rising use of AI in the energy sector

In order to help with an array of challenges facing the digitization of the energy industry, companies, governments and regulatory agencies are looking at ways to make our energy consumption more efficient. One of the key sustainable and reliable solutions is the introduction of the smart grid, which uses a variety of operation and energy measures including smart meters, smart appliances, renewable energy resources and energy efficient resources to provide more data for energy operators, powering better decision-making and resource usage. The vast amount of data captured from operations, whether that be asset performance data, customer data, advanced metering data or geographic information, only continues to grow. Smart grids continuously collect and synthesize huge amounts of data from millions of smart sensors to make timely decisions on how best to allocate energy resources. AI in the energy sector is helping to empower the smart power grid, providing more effective and more profitable power trading and better regulation of power consumption.