Artificial intelligence can usher in an era of accountability and efficiency into the energy sector.
FREMONT, CA: An array of opportunities is lined up for companies in the energy sector that are willing to adopt artificial intelligence. With significant advancements in AI, the technology has found applications across several industries. Within the vast energy sector, the possibilities associated with artificial intelligence-backed applications are significant. Be it energy generation or service management, and artificial intelligence can be implemented to make everything better. For energy companies still considering the decision to invest in artificial intelligence, it is high time to take the plunge and add real value to their digitalization journeys. Some key ways in which companies in the energy sector can leverage artificial intelligence are listed in the current article.
• Predictions Related to Maintenance of Facilities
The conventional approach of asset management in the energy sector leaves much to be desired. Switching to a smarter mechanism can help energy companies enhance the lifecycle of costly equipment. Currently, most of the assets are managed manually with periodic assessments. The reactive approach leads to compromises in asset maintenance. By using AI-based solutions, energy companies can integrate the management and maintenance of distributed facilities to make the processes predictive in nature.
• A shift from Site to Control Rooms
Traditionally, energy companies have always had to access facilities manually whenever there was a need. This is highly inefficient. AI enables easier collection and retrieval insights from various points in energy production workflows, as well as from distribution infrastructure. With the easier availability of operational data, it is convenient to control operations from centralized control rooms rather than managing everything from the site.
• Smarter Ways to Reduce Energy Losses
Energy companies must cap energy losses to enhance their efficiencies. By leveraging AI, companies can create systems that help monitor energy losses and automatically work towards preventing them. Energy technology companies have come up with ways to determine and limit energy wastage in commercial and residential buildings using AI algorithms.
It is through the use of AI that energy companies can optimize operations and build futuristic facilities that allow automation.
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