How AI Is Changing The Utility Industry
AI and ML algorithms have taken almost every industry by storm, allowing us to considerably improve every aspect of our lives. And yet, we are just starting to scratch the surface of what can be done. In this regard, one of the biggest ‘superpowers’ of AI and ML, being able to forecast, is being used extensively by utility services, and utility providers.
These forecasting capabilities have allowed the utility industry to improve itself considerably, with three fundamental principles leading to these improvements:
- The massive computational power that AI and ML algorithms come with. While the investment can be relatively hefty, the ROI that comes with it in the form of speed and results can prove to be very worthwhile and effective tools for those in the utility sector.
- The dramatic increase in available data and their ability to analyze it. Big data storage and analysis costs get significantly reduced with these systems.
- The ever-growing arsenal of technological solutions that they offer – and will continue to provide – for different sectors.
How AI is Changing the Utility Sector
- AI Forecasting Utility Demands & Trends
AI can analyze usage trends and shifts to determine how much short-term load the system will have to bear and therefore predict which optimization methodology needs to be implemented.
- AI Optimizing Power Generation
Utility providers can determine any issues with the current modes of utility generation (especially power), distribution and improve efficiency accordingly. The automated real-time adjustments that may be needed in the system to enhance generation capabilities.
This approach also helps reduce emissions from generation.
- AI To Improve Utility Distribution
AI and ML can predict potential fluctuations in the system and allow providers to adapt to the changes with the help of utility services. This helps improve the support capability of utility services and manage potential disasters better.
- AI For Better Demand Management
The focus on renewable energies and the improved energy production and distribution methodology can be complemented with a model that reduces energy consumption. The enhanced energy management also comes with enhanced demand analysis and management.
A prime example of this is Google’s DeepMind, an arm of the tech giant that uses AI to help companies and governments reduce energy consumption. While they primarily focus on data center energy usage reduction, their solutions have the potential to spread to many other sectors as well.
- AI to Improve Maintenance
AI, coupled with ML, has improved maintenance processes and the overall basis for analysis for utility lines. By helping companies analyze flow, weather conditions, and other mechanisms, AI can warn providers and utility services about potential risks and the need for maintenance.
By pinpointing areas that need special attention, AI can also reduce the time and resources spent on maintenance.
Utilities are a crucial part of the world we live in, and AI is changing the utility industry for the better. If you want to learn more about how you can implement the systems properly in your processes or the potential benefits you can reap – or simply need a utility and technology solution provider, get in contact with Americom today!