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The potential for AI extends far beyond the borders of Silicon Valley and the tech giants we’re used to hearing about; i.e. Google, Facebook and Apple. For a historically asset-driven industry like the energy sector, AI can accelerate the transformation of the entire power system at an unprecedented pace and scale, opening up new dimensions of opportunity and sustainability.
Turning yesterday’s infrastructure into a benefit for tomorrow The electric grid represents a large segment of the world’s existing infrastructure. Most of the grid was deployed before modern computing equipment or advanced communication technologies existed, so the legacy environment offered little control and visibility. To compensate and ensure reliability, the grid was intentionally overbuilt. Without the right technology, however, the value of the overbuild was never fully realized. Now, through the Internet of Things (IoT) and AI, we can access untapped information and take advantage of that data to make the grid greener, more efficient and more resilient. When will we see the effects of AI? Energy companies will need to apply AI in a way that best suits their market, meets their specific business objectives and consumer needs. As done with new technology in the past—for example, when advanced energy storage was first introduced more than 10 years ago by AES—power system stakeholders should put AI through a checklist and ask five key questions before embarking on the journey: 1. How does it work? 2. Is it dependable? 3. Is it scalable? 4. Is it sustainable? 5. Is it cost effective?Energy companies will need to apply AI in a way that best suits their market, meets their specific business objectives and consumer needs.
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