AI IN UTILITIES
The industry of utilities can benefit greatly from AI by automating repetitive tasks. Previously, the industry was highly dominated by manual work. Automation can help businesses within utilities to cut costs, optimize efficiency and enhance customer service.
The industry of utilities is highly dependent on short-term load forecasts. Machine learning can help businesses to predict real-time supply and demand, in order to reach the optimized load dispatch. Likewise, real-time adjustments provided by AI can help a business to attain optimized generation efficiency across all assets. AI can also be used for asset inspections and predictive maintenance, automatically identifying defects and predicting failures. In this way, AI can help businesses fix problems before they evolve, or even occur, as well as replacing time intensive and perhaps risky manual inspections.
Modern natural language processing and data analytics are of high value in this industry. Running large scale analytics and machine learning on customer data can also help businesses in utilities to set prices that maximize margins and reduce customer churn.
The areas where utilities can benefit from AI are ever expanding.
AREAS OF AI APPLICATION IN UTILITIES
- Applications can help deepen customer insights, allowing businesses to create individual offers and services, rewarding and retaining most profitable customers.
- Virtual agents can respond to customer queries and provide instant service around the clock.
- EV/Battery aggregation, and fleet optimization, demand forecasting.
- Production and storage forecasting.
- Service & maintenance. Success predictions and scheduling.
- Outage predictions.
- Risk management and forecasting for spot/emissions/regulation markets.
- Predictive maintenance.
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