One critical application of artificial intelligence technology in the energy sector is producing autonomous robots that can replace humans in otherwise hazardous situations.
FREMONT, CA: AI(Artificial Intelligence) is about to change people’s life, work, and leisure, but few people understand what it can attain beyond the technology giants’ virtual assistants. Still, powerful machine learning is opening the way for ‘robust AI’ in the data-driven energy sector to enhance efficiency, forecasting, trading, and user availability.
Commodities such as electricity can be bought, sold, and traded on open markets. Therefore, huge volumes of data, ranging from weather predictions to grid demand/supply balance, must be routinely examined by power sellers, purchasers, and brokers for these markets to function successfully. Those best positioned to understand the market data have a competitive advantage.
Intelligent Power Consumption
About half of all power customers in the United States have smart electrical meters, which offer data on personal energy consumption and enable informed consumer self-regulation of energy utilization. New AI-charged intelligent meters and smart home solutions aren’t broadly available but can boost end-user efficiency.
These energy monitoring gadgets link to other household equipment, reducing energy waste and saving owners money. These devices, for instance, control air conditioning, recommend charging electric cars during off-peak hours to save money on electricity, control lighting, and manage appliances.
With the capability to adjust and respond to usage patterns and energy prices, these gadgets might save a lot of energy if employed by many people. Widespread adoption might help everyone advantage from a greener, more stable electric system.
One significant application of AI technology in the energy sector is producing autonomous robots that can substitute humans in otherwise dangerous situations.
For example, these unmanned self-driving machines can examine high-voltage power cables on land or patrol the seafloor for precious resources, logging and reporting their positions for future extraction without endangering human lives.
Market participants utilize machine learning to enhance predictive capacities, promote energy trading transparency, integrate renewable energy sources, manage smart grids and storage, and bring unmanned drones to life.