Utilities Tech Outlook Weekly Brief
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The use of AI can optimize utility operations and build futuristic facilities that allow automation.
FREMONT, CA: Artificial Intelligence (AI) is the fastest growing branch of the high-tech industry. Today, AI is gaining more importance in the utility industry and is having great potential for the future design of the energy system. For utility companies still considering the decision to invest in AI, it is high time to take the plunge and add real value to their digitalization journeys. Some major ways in which utility companies can leverage AI are listed below.
Proactive Asset Maintenance
The traditional approach of asset management in the utility sector leaves much to be desired. Shifting to a smarter mechanism can help utility companies improve the lifecycle of costly assets. Presently, most of the utility assets are maintained manually with regular evaluations. The reactive approach leads to compromises in asset maintenance. By using AI-based solutions, utility companies can combine the management and maintenance of assets to make the processes predictive.
Availing Operational Data
Previously, utility companies had to access facilities manually whenever they need. This is highly inefficient. AI allows easier collection and retrieval of data from several points in production workflows, and from distribution infrastructure. With the easier availability of operational data, it is convenient for utilities to control operations from a centralized control room rather than managing everything from the site.
Reducing Wastage
Utility companies must cap energy losses to enhance their efficiencies. By harnessing AI, utilities can create systems that help monitor losses and automatically work towards preventing them. Technology companies have come up with ways to decide and limit wastage using AI algorithms.
See also: Top Artificial Intelligence Solution Companies
