Utilities Tech Outlook Weekly Brief
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The future of utilities involves a lot of devices that collect large amounts of data. It is necessary to process this data and derive actionable information. This can be done with the help of AI systems that can identify meaningful patterns and convert them into useful insights.
FREMONT, CA: The growth in technology has made a significant difference to all industries. Businesses across all sectors are looking to leverage the latest technology to enhance business efficiency and increase productivity, including the utilities sector. The utilities sector has faced an increasing number of challenges in the form of changing customer demands, regulatory authorities, and an increasingly diverse market. As the challenges continue to rise, new and innovative technologies continue to rise to the challenge. Business leaders have a plethora of options to choose from today. Here are some of the most popular emerging technologies that are being leveraged by companies in the utilities sector.
Artificial Intelligence
Artificial Intelligence (AI) has become a buzzword across all industries today. It has largescale applications and gels well with the existing technology. The future of utilities involves a lot of devices that collect large amounts of data. It is necessary to process this data and derive actionable information. This can be done with the help of AI systems that can identify meaningful patterns and convert them into useful insights. AI can be primarily used for utilities in easing the transition to renewable energy by assessing the output of planned renewables projects alongside the likely demand for that output. It can help with preventing power outages by predicting the conditions that cause them.
Digital Twins
Digital twins are virtual models of assets that can be leveraged to gain real-time and predictive insights on performance. They can work out of the cloud and can help with significantly reducing the costs and risks associated with construction, maintenance, and performance optimization strategies. Digital twins also offer an opportunity for utilities to integrate better distributes energy resources. It also holds a very human advantage over legacy systems. The technology can capture the experience and knowledge of aged people nearing retirement ages to turn them into valuable assets.
Edge Computing
Edge computing is the process of computing devices that are closer to the subject of analysis. For instance, the sensors that collect data from grid components can send that data to nearby computing outposts rather than a remote cloud-based system. This results in safer, faster, and more efficient data analysis, leading to quicker responses to equipment in need of updates or repair.
See Also: Top Artificial Intelligence Solution Companies
