WIRE)--Bidgely today introduced the latest version of its UtilityAI Platform for delivering a personalized energy experience to utility customers as well as operational efficiencies for global utilities. As the energy industry's only artificial intelligence (AI) platform for hyper-personalization, Bidgely has developed the world's most accurate and actionable customer energy insights based on actual energy habits that are continuously improved and personalized with each interaction. To highlight the impacts of AI in 2019 and in the years to come, global utilities and energy retailers including NiSource, VSE-RWE, Hydro Ottawa and Origin Energy join Navigant Research and Smart Energy Consumer Collaborative in the video How AI Will Change the Utility Industry. "2019 has been a breakout year for UtilityAI," said Bidgely CEO Abhay Gupta. "Our AI-powered hyper-personalization for utilities is powered by actual insights gained from real world deployments, i.e. 15M homes from 30 utility partners in 15 countries. We continue to expand the Bidgely UtilityAI ecosystem with multiple, global customer engagements in key industry categories. This broadening of our solutions and deepening of each offering is only accelerating as our AI and machine learning algorithms become more powerful and reveal new value to be gained throughout an entire utility's operations."
Artificial intelligence (AI), in many different industries, is about to unleash the next era of digital innovation, and the power and energy (P&U) industries are no exception. The distribution of energy is not a linear equation anymore. As new sources of energy and data expand, utility providers are seeking to take a more holistic approach to understand and manage their resources and involve active clients on the edge of the grid. In a broad sense, AI makes it possible for the stakeholders to recognize the operational dynamics when it arrives in the management of power supplies and distributed resources. Utilities can harness comprehensive, real-time models to provide a more robust and efficient grid with AI-powered solutions, machine learning functioning underneath scenes to investigate different data sources, and to provide industry and customers with actionable insights.
In the past year, you've probably heard something about machine learning. This branch of science, which involves crunching massive datasets to find hidden patterns, is helping companies solve problems that used to be unsolvable. Machine learning algorithms keep spam out of your inbox, and sound an early warning when someone else might be using your credit card. Down the road, they might save your life. At their core, machine learning tools capture lots of complex information, learn from it, then apply what they learn to better estimate unknowns and predict future events.
Bidgely CEO and Co-founder Abhay Gupta will deliver a keynote address at the inaugural Utility Analytics Institute Leadership Forum happening during Utility Analytics Week 2019, which will be held in Phoenix, Ariz., from October 21-25, 2019. Joined by top Bidgely executives in attendance, Gupta will highlight at the Leadership Forum how artificial intelligence (AI) can help utilities understand each consumer in depth to create a personalized energy experience during his keynote on October 22 at 9am local time, titled "Utility AI - Transitioning the Utility Business Model from Kilowatts to Kilobytes." This press release features multimedia. "Explanatory AI for the energy industry has become critical for empowering utilities to drive a hyper-personalized customer journey - guiding customers from engagement to experience to trust in their utility as a transformational digital brand," said Bidgely CEO Abhay Gupta. "Utility Analytics Week promises to be a powerful event for driving forward utilities into the next data-driven industrial revolution and placing them in the center of the new energy universe for consumers."
Widespread adoption of renewable energy and smart home technologies has empowered consumers to take greater control of their individual energy consumption. But for every home that generates power through solar, every electric vehicle (EV) charged and every battery storing excess energy, the electric grid experiences unpredictable and complex load disruptions. Coupled by consumers' general distrust of utility companies and ability to self-generate electricity through large consumer brands, these disruptions create ongoing challenges for utilities to adequately manage grid demands and protect their revenue, leaving them at a crossroads: They must either attempt to preserve their traditional business model or adapt to evolving customer needs. When a utility company decides on the latter, its job transitions from generating, distributing and selling power to also managing customer churn in ways similar to what deregulated energy retailers do where customers have a choice in energy providers. First, we must understand what consumers actually want from their utility.