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DemandCast: Global hourly electricity demand forecasting

arXiv.org Artificial Intelligence

This paper presents a machine learning framework for electricity demand forecasting across diverse geographical regions using the gradient boosting algorithm XGBoost. The model integrates historical electricity demand and comprehensive weather and socioeconomic variables to predict normalized electricity demand profiles. To enable robust training and evaluation, we developed a large-scale dataset spanning multiple years and countries, applying a temporal data-splitting strategy that ensures benchmarking of out-of-sample performance. Our approach delivers accurate and scalable demand forecasts, providing valuable insights for energy system planners and policymakers as they navigate the challenges of the global energy transition.


Water Demand Forecasting of District Metered Areas through Learned Consumer Representations

arXiv.org Artificial Intelligence

Advancements in smart metering technologies have significantly improved the ability to monitor and manage water utilities. In the context of increasing uncertainty due to climate change, securing water resources and supply has emerged as an urgent global issue with extensive socioeconomic ramifications. Hourly consumption data from end-users have yielded substantial insights for projecting demand across regions characterized by diverse consumption patterns. Nevertheless, the prediction of water demand remains challenging due to influencing non-deterministic factors, such as meteorological conditions. This work introduces a novel method for short-term water demand forecasting for District Metered Areas (DMAs) which encompass commercial, agricultural, and residential consumers. Unsupervised contrastive learning is applied to categorize end-users according to distinct consumption behaviors present within a DMA. Subsequently, the distinct consumption behaviors are utilized as features in the ensuing demand forecasting task using wavelet-transformed convolutional networks that incorporate a cross-attention mechanism combining both historical data and the derived representations. The proposed approach is evaluated on real-world DMAs over a six-month period, demonstrating improved forecasting performance in terms of MAPE across different DMAs, with a maximum improvement of 4.9%. Additionally, it identifies consumers whose behavior is shaped by socioeconomic factors, enhancing prior knowledge about the deterministic patterns that influence demand.


Joint Pedestrian and Vehicle Traffic Optimization in Urban Environments using Reinforcement Learning

arXiv.org Artificial Intelligence

-- Reinforcement learning (RL) holds significant promise for adaptive traffic signal control. While existing RL-based methods demonstrate effectiveness in reducing vehicular congestion, their predominant focus on vehicle-centric optimization leaves pedestrian mobility needs and safety challenges unaddressed. In this paper, we present a deep RL framework for adaptive control of eight traffic signals along a real-world urban corridor, jointly optimizing both pedestrian and vehicular efficiency. Our single-agent policy is trained using real-world pedestrian and vehicle demand data derived from Wi-Fi logs and video analysis. The results demonstrate significant performance improvements over traditional fixed-time signals, reducing average wait times per pedestrian and per vehicle by up to 67% and 52% respectively, while simultaneously decreasing total wait times for both groups by up to 67 % and 53% . Additionally, our results demonstrate generalization capabilities across varying traffic demands, including conditions entirely unseen during training, validating RL's potential for developing transportation systems that serve all road users.


Advancing Heat Demand Forecasting with Attention Mechanisms: Opportunities and Challenges

arXiv.org Artificial Intelligence

Global leaders and policymakers are unified in their unequivocal commitment to decarbonization efforts in support of Net-Zero agreements. District Heating Systems (DHS), while contributing to carbon emissions due to the continued reliance on fossil fuels for heat production, are embracing more sustainable practices albeit with some sense of vulnerability as it could constrain their ability to adapt to dynamic demand and production scenarios. As demographic demands grow and renewables become the central strategy in decarbonizing the heating sector, the need for accurate demand forecasting has intensified. Advances in digitization have paved the way for Machine Learning (ML) based solutions to become the industry standard for modeling complex time series patterns. In this paper, we focus on building a Deep Learning (DL) model that uses deconstructed components of independent and dependent variables that affect heat demand as features to perform multi-step ahead forecasting of head demand. The model represents the input features in a time-frequency space and uses an attention mechanism to generate accurate forecasts. The proposed method is evaluated on a real-world dataset and the forecasting performance is assessed against LSTM and CNN-based forecasting models. Across different supply zones, the attention-based models outperforms the baselines quantitatively and qualitatively, with an Mean Absolute Error (MAE) of 0.105 with a standard deviation of 0.06kW h and a Mean Absolute Percentage Error (MAPE) of 5.4% with a standard deviation of 2.8%, in comparison the second best model with a MAE of 0.10 with a standard deviation of 0.06kW h and a MAPE of 5.6% with a standard deviation of 3%.


Data-driven inventory management for new products: A warm-start and adjusted Dyna-$Q$ approach

arXiv.org Artificial Intelligence

-- In this paper, we propose a novel reinforcement learning algorithm for inventory management of newly launched products with no historical demand information. The algorithm follows the classic Dyna-Q structure, balancing the model-free and model-based approaches, while accelerating the training process of Dyna-Q and mitigating the model discrepancy generated by the model-based feedback. Based on the idea of transfer learning, warm-start information from the demand data of existing similar products can be incorporated into the algorithm to further stabilize the early-stage training and reduce the variance of the estimated optimal policy. Our approach is validated through a case study of bakery inventory management with real data. The adjusted Dyna-Q shows up to a 23.7% reduction in average daily cost compared with Q-learning, and up to a 77.5% reduction in training time within the same horizon compared with classic Dyna-Q . By using transfer learning, it can be found that the adjusted Dyna-Q has the lowest total cost, lowest variance in total cost, and relatively low shortage percentages among all the benchmarking algorithms under a 30-day testing. I. INTRODUCTION Inventory management is crucial for supply chain operations, overseeing and controlling the order, storage, and usage of goods in business [1]. In inventory management, the cold-start setting refers to predicting demand and formulating appropriate inventory strategies when new products are introduced or new market demands arise due to the lack of historical data [2].


STEF-DHNet: Spatiotemporal External Factors Based Deep Hybrid Network for Enhanced Long-Term Taxi Demand Prediction

arXiv.org Artificial Intelligence

Accurately predicting the demand for ride-hailing services can result in significant benefits such as more effective surge pricing strategies, improved driver positioning, and enhanced customer service. By understanding the demand fluctuations, companies can anticipate and respond to consumer requirements more efficiently, leading to increased efficiency and revenue. However, forecasting demand in a particular region can be challenging, as it is influenced by several external factors, such as time of day, weather conditions, and location. Thus, understanding and evaluating these factors is essential for predicting consumer behavior and adapting to their needs effectively. Grid-based deep learning approaches have proven effective in predicting regional taxi demand. However, these models have limitations in integrating external factors in their spatiotemporal complexity and maintaining high accuracy over extended time horizons without continuous retraining, which makes them less suitable for practical and commercial applications. To address these limitations, this paper introduces STEF-DHNet, a demand prediction model that combines Convolutional Neural Network (CNN) and Long Short-Term Memory (LSTM) to integrate external features as spatiotemporal information and capture their influence on ride-hailing demand. The proposed model is evaluated using a long-term performance metric called the rolling error, which assesses its ability to maintain high accuracy over long periods without retraining. The results show that STEF-DHNet outperforms existing state-of-the-art methods on three diverse datasets, demonstrating its potential for practical use in real-world scenarios.


How AI can help companies beat inflation and avoid shrinkflation

#artificialintelligence

Learn how your company can create applications to automate tasks and generate further efficiencies through low-code/no-code tools on November 9 at the virtual Low-Code/No-Code Summit. The domino effect of COVID-19 and the war in Ukraine has disrupted supply chains and increased costs, leaving manufacturers with three paths to survive: increase prices directly, reformulate the product with cheaper materials or downsize products in waves. As customers are more sensitive to increases in price or reductions in quality, many companies opted to take out some of the product without changing the price. Manufacturers refer to this practice as "cost reduction." But consumers call it shrinkflation.


Reconstruction of Long-Term Historical Demand Data

arXiv.org Artificial Intelligence

Long-term planning of a robust power system requires the understanding of changing demand patterns. Electricity demand is highly weather sensitive. Thus, the supply side variation from introducing intermittent renewable sources, juxtaposed with variable demand, will introduce additional challenges in the grid planning process. By understanding the spatial and temporal variability of temperature over the US, the response of demand to natural variability and climate change-related effects on temperature can be separated, especially because the effects due to the former factor are not known. Through this project, we aim to better support the technology & policy development process for power systems by developing machine and deep learning 'back-forecasting' models to reconstruct multidecadal demand records and study the natural variability of temperature and its influence on demand.


How to Combine Different Methods for A 24-times Faster Time Series Prediction

#artificialintelligence

Today, businesses need to be able to predict demand and trends to stay in line with any sudden market changes and economy swings. This is exactly where forecasting tools, powered by Data Science, come into play, enabling organizations to successfully deal with strategic and capacity planning. Smart forecasting techniques can be used to reduce any possible risks and assist in making well-informed decisions. One of our customers, an enterprise from the Middle East, needed to predict their market demand for the upcoming twelve weeks. They required a market forecast to help them set their short-term objectives, such as production strategy, as well as assist in capacity planning and price control.


Taxi Demand-Supply Forecasting: Impact of Spatial Partitioning on the Performance of Neural Networks

arXiv.org Machine Learning

In this paper, we investigate the significance of choosing an appropriate tessellation strategy for a spatio-temporal taxi demand-supply modeling framework. Our study compares (i) the variable-sized polygon based Voronoi tessellation, and (ii) the fixed-sized grid based Geohash tessellation, using taxi demand-supply GPS data for the cities of Bengaluru, India and New York, USA. Long Short-Term Memory (LSTM) networks are used for modeling and incorporating information from spatial neighbors into the model. We find that the LSTM model based on input features extracted from a variable-sized polygon tessellation yields superior performance over the LSTM model based on fixed-sized grid tessellation. Our study highlights the need to explore multiple spatial partitioning techniques for improving the prediction performance in neural network models.