How Artificial Intelligence Is Pushing the Energy Sector Towards Digitization

If you’ve ever wondered what the energy sector will look like in the future, Artificial Intelligence (AI) may be the answer. AI is inherently set up to revolutionize this sector by changing its dynamics and driving it towards digitization.

When we say “digitization,” we mean that AI has already begun to help transform how energy is produced and delivered, making processes cheaper, more accurate, and more sustainable. Here’s a quick overview of what AI can do for your energy company:

#1: AI can make better forecasts to prepare for power outages before they happen. It’s important that our power grid operators know when there’s going to be an outage or power spike so they can prepare accordingly. This means AI will be able to make more accurate forecasts, so that the power grid can operate accordingly.

#2: AI can help people make better decisions about their energy consumption habits. One of the most important jobs for an energy company is ensuring that their customers have sufficient energy to operate throughout the day and night. They need to make sure that we have enough power being generated during peak hours, but not so much that we’re overloading our electrical grid. But how do they decide how much power we use at those peak hours? AI can analyze a variety of different data points and make informed decisions about how much power we use over a given period of time — this means delivering an improved customer experience.

#3: AI can strengthen the negotiations and agreements made by your energy company and their utility partner. Energy companies are tasked with making sure that we have enough electricity to keep our lights on at all times, but they also have to negotiate the best possible agreements with their utility partners — deals that work for them and for their customers. But how are those deals created? How do the two sides get along when it comes down to negotiating? AI will be able to really dive into these issues, which will make for much more informed decisions about these types of agreements in the future.

#4: AI can help energy companies understand customer behavior better. In the future, AI will be able to understand customer behavior with more accuracy and detail than ever before. Without the need for survey questions and forms, AI will be able to collect data about how customers use their energy and how they feel about a number of different issues related to their energy consumption habits. This data collection will allow your energy company to make smarter decisions in the future — some of which may save them money.

Of course, this isn’t just limited to your energy company — these are all opportunities that improve the general health of our economy as a whole. Energy companies will be happier, their utility partners will be happier, and their customers will be happier. The future of power generation is looking bright.

Source: https://www.linkedin.com/pulse/how-artificial-intelligence-pushing-energy-sector-towards-zubair/?trackingId=Kwz%2B4uzoTz%2BrIv4xsGB6Lw%3D%3D