• Nigerian/African Tech
  • Start Up
  • Internet
    • App
    • Mobile
    • Software
  • Gadgets
  • Money
  • Video
Tech News, Magazine & Review WordPress Theme 2017
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Artificial Intelligence

Impact Of Advanced AI, ML And IoT Technologies On Energy And Utility Companies

Contributor by Contributor
November 16, 2021
Share on FacebookShare on Twitter

AI, ML, and IoT technologies are already implemented in energy and utility companies (E & E&U) worldwide. For example, AI technologies are used to forecast electricity loads, minimize the time of video surveillance work, and make drones safe. IoT is widely employed in smart metering systems to aggregate data from different sources. In this article, we will dig into AI, ML, and IoT technologies in E&U companies.

Also On TechBooky

Altman’s Return Is A Teachable Moment in AI Governance

Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing

Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay

ChatGPT Suffered A Major Over One Hour Outage Today

OpenAI Unleashes GPT-4 Turbo, See All The Pricing Here

AI’s Primary Tasks in Energy and Utility Companies

Artificial intelligence (AI) is the science of making machines reason like human brain and complete human tasks, such as natural language processing, machine learning, expert systems, chatbots, and virtual assistants, and recommendation systems. AI transforms the production, transmission, and consumption of electricity; it is relevant for solving predictive problems in the repair and maintenance of equipment.

Artificial intelligence capabilities encompass various tasks listed below.

  • Understanding text/speech-based information to analyze both structured and unstructured data sources
  • Machine learning paradigm – training a model using the training set examples
  • Performing inference on new data independently from its source by applying the trained model
  • Adapting to changes in business process or application state.

Natural language processing is an important task in AI applications of energy and utility companies, as it allows analysis of textual data, and processing of large volumes of text quickly. Another mandatory task for real-world use cases is image recognition. E&U companies can use new technology to reduce the cost of video surveillance work using drones with the help of image recognition systems based on neural networks.

IoT applications in Energy and Utility Companies

IoT technology is designed to collect data from objects (e.g., meters, power distribution units, sensors) using various communication technologies. For example, smart metering systems aggregate data from telemetry meters read at the electricity grid points of delivery and other sources.

Different AI technologies can analyse the data—structure recognition algorithms or machine learning models provide insights into the consumer behaviour patterns for an energy company’s customers. In addition, one can study how much time it takes individual consumers to start appliances after turning them on as soon as they receive a signal from the smart meter that allows them to analyse whether this process takes place quickly or not.

For example, image recognition algorithms are used to analyse the images of electricity meters captured by video surveillance equipment installed in front of a building. New technology may reduce the time required for inspection work using drones with the help of image recognition systems based on neural networks.

Multi-Layer AI Platforms Applied in Energy and Utility Companies

AI at energy and utility companies operates on multiple levels. At their core, they rely on an underlying ML technologies stack composed of tools that allow solving problems in different areas related to all aspects of energy generation, transmission, usage, storage, and consumption.

Data science techniques are applied throughout the problem solving, so specific statistical knowledge is needed. The processes include natural language processing, machine learning paradigms, training models using training set examples, performing inference on new data independently from its source by applying the trained model, and adapting to changes in business process or application state.

ML Technologies Stack Applied in Energy and Utility Companies

The Machine Learning Technologies stack consists of tools required to solve problems in different areas related to all aspects of energy generation, transmission, usage, storage, and consumption, including the following components:

  • Natural language processing: an important task in AI applications of energy and utility companies, as it allows to analyse textual data, process large volumes of text quickly
  • Structure recognition algorithms: image recognition
  • Machine learning paradigms training models using training set examples
  • Performing inference on new data independently from its source by applying the trained model
  • Adapting to changes in business process or application state.

ML technologies can be applied for advanced predictive analytics for infrastructure decision-making to improve maintenance strategies in power grids. ML capabilities encompass various tasks listed below:

  • Understanding text/speech-based information to analyse both structured and unstructured data sources
  • Training a model using training set examples (e.g., known examples of equipment status)
  • Performing inference on new data (e.g., unknown/unseen examples in the future) using the trained model
  • Adapting to changes in business process or application state (i.e., monitor and update previously learned models when execution context changes).

Final Thoughts on Impact of Advanced AI, ML and IoT Technologies on Energy and Utility Companies

While AI, ML, IoT technologies may not be really applicable to tasks like essay writing service which require much human involvement, they’re beneficial for E&U companies by improving their performance and increasing productivity. Also, it enables them to build a scalable solution that can respond quickly to changing conditions of the work environment. With the help of AI technologies used in energy and utility companies, one can track different processes, implement predictive maintenance efficiently, ensure proper operation of various equipment within smart grids, etc. It may have a massive impact on business profitability as AI technologies can improve collected data’s reliability and usability to generate better and more reliable energy production and distribution processes.

A simple example of an ML algorithm may be a decision tree, a flowchart-like structure with nodes that split the data into subsets by testing the values of different variables. A simple decision tree would have two branches stemming from a single node: one branch representing “hot,” another “cold.” For each leaf of such a tree, there is an outcome (a diagnosis) represented as a letter (in this case, “H” for hot or “C” for cold). This particular tree predicts whether appliances are likely to need servicing after the first ten operating hours.

IoT is used to improve the reliability and usability of data collected from sources. For example, IoT can improve the reliability and usability of collected data from sources to generate better and more reliable energy production and distribution processes.

IoT enables the collection of vast amounts of data in real-time, for example, by detecting deviations in power consumption that could indicate faulty equipment or inefficient practices. The individual components are deployed at different physical locations (e.g., wind turbines). Since autonomous systems cannot be controlled directly because they are too distant, engineers must rely on a control system that uses information from multiple sensors. This means deploying IoT solutions will enable companies to collect large volumes of machine-generated data, including those coming from hundreds or thousands of smart meters and those from numerous smart devices. This data can address several business challenges such as reducing operating costs, improving service responsiveness, and more precise customer service.

 

 

Author Bio:

Charles Normandin is a freelance writer from Goodlett, Texas. He enjoys visiting exhibitions, meeting new people, and discussing new ways to express himself through art. Check out his tweets at Charles60104524 on Twitter.

Related Posts:

  • PhotoPictureResizer_220412_083332880_crop_750x535
    Egypt's Infrastructure Services Startup, Pylon…
  • Artificial-Intelligence-12
    Understanding The Economic Impact Of Artificial Intelligence
  • quantum comp
    Quantum Computing And Machine Learning: The Future
  • construction tech
    3 Coolest Construction Technology Innovation Of 2021
  • green tech
    Everything You Should Know About Green Technology…
  • AdobeStock_157266517-1200×640
    AI in Healthcare: How Machine Learning Is…
  • tech and supply chain
    How Technology Is Moving Sustainable Supply Chains Forward
  • Rearview shot of a young woman working in a call centre
    5 Key Reasons Why AI-Powered, Automated Customer…
Tags: AIartificial intelligenceenergy
Contributor

Contributor

Posts by contributors. You can send in a post to be reviewed and published to info@techbooky.com

BROWSE BY CATEGORIES

Freshly Squeezed

  • Altman’s Return Is A Teachable Moment in AI Governance November 27, 2023
  • 7 Hyped Innovations That Fell Short of Mainstream Adoption November 27, 2023
  • Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing November 22, 2023
  • Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay November 17, 2023
  • No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness November 10, 2023
  • The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada November 10, 2023

RSS More from TechBooky Africa

  • Sony’s $10 Million Fund is Transforming Africa’s Creativity & the Theatric Industry at Large.  October 18, 2023 Eni Emeka
  • The Impact of Yellow Card’s Grant on Nigerian Women and the Blockchain Industry. October 17, 2023 Eni Emeka
  • The Nigerian Start-ups That Evolved With The AI Technology Emergence October 14, 2023 Eni Emeka
  • The Impact of Starlink’s Price Drop in Nigeria. October 11, 2023 Eni Emeka
  • CoverAI’s Acquisition by Writesea, a New York-Based Firm. October 11, 2023 Eni Emeka
  • The Rise and Fall of Ghanaian FinTech Dash October 9, 2023 Eni Emeka
  • Starlink Set Up Shop in Zambia. October 7, 2023 Eni Emeka
  • The FTX-Backed Bridge Network In-House Commotion By Cofounders Tussle For Power.  October 6, 2023 Eni Emeka
  • Seven Unique Takes on Ranking the Android Foldable Phones of 2023. October 2, 2023 Eni Emeka
  • PayDay Potential Sale Stirs Reactions Based On The Recently Acquired $3M Investment Equity.  September 22, 2023 Eni Emeka

Receive top tech news directly in your inbox

Loading

RSS More from TechBooky Business

  • Palantir Beats Earnings Expectations and Raises Guidance November 5, 2023 Femi Balo
  • Block’s Remarkable Q3 Earnings Report Sparks Investor Frenzy November 3, 2023 Femi Balo
  • Apple Q4 Earnings Report: Surprises and Shifts November 3, 2023 Femi Balo
  • AMD Reports Q3 Earnings Exceeding Expectations and Highlights a Positive 2024 Outlook November 1, 2023 Femi Balo
  • Samsung Reports Strong Q3 Earnings Amid Signs of Chip Market Stabilization October 31, 2023 Femi Balo
  • Pinterest’s Impressive Third-Quarter Earnings Report and Outlook October 31, 2023 Femi Balo
  • ON Semiconductor Faces Market Challenges Despite Strong Q3 Earnings October 31, 2023 techbookybusiness
  • Huawei Records Stable Q3 Revenue Despite Challenges October 27, 2023 Femi Balo
  • Intel’s Strong Q3 Earnings Propel Stock Up in After-Hours Trading October 27, 2023 Femi Balo
  • Amazon Surpasses Expectations In Q3 Earnings Report October 27, 2023 Femi Balo

Browse Archives

November 2023
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« Oct    

About Us

TechBooky

TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

Subscribe to TechBooky

Enter your email address to subscribe to TechBooky and receive notifications of new posts by email.

Join 17,656 other subscribers.

Receive top tech news directly in your inbox

Loading

Popular Tags

AI (317) amazon (97) android (305) app (664) Apple (504) artificial intelligence (341) business (419) china (117) cloud (141) cryptocurrency (164) ecommerce (112) enterprise (259) facebook (482) gadget (508) gaming (183) google (580) government (403) guest post (109) instagram (147) internet (389) ios (262) iphone (221) microsoft (285) mobile (321) new feature (329) nigeria (283) privacy (146) research (135) samsung (154) security (387) smartphone (257) social media (721) software (460) startup (272) streaming (149) telecom (159) tips (352) transport (109) twitter (256) united states (205) users (158) videos (116) website (166) whatsapp (136) youtube (110)

Quick Links

  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

RSS African Tech News

  • Sony’s $10 Million Fund is Transforming Africa’s Creativity & the Theatric Industry at Large.  October 18, 2023 Eni Emeka
  • The Impact of Yellow Card’s Grant on Nigerian Women and the Blockchain Industry. October 17, 2023 Eni Emeka
  • The Nigerian Start-ups That Evolved With The AI Technology Emergence October 14, 2023 Eni Emeka
  • The Impact of Starlink’s Price Drop in Nigeria. October 11, 2023 Eni Emeka
  • CoverAI’s Acquisition by Writesea, a New York-Based Firm. October 11, 2023 Eni Emeka
  • The Rise and Fall of Ghanaian FinTech Dash October 9, 2023 Eni Emeka
  • Starlink Set Up Shop in Zambia. October 7, 2023 Eni Emeka
  • The FTX-Backed Bridge Network In-House Commotion By Cofounders Tussle For Power.  October 6, 2023 Eni Emeka
  • Seven Unique Takes on Ranking the Android Foldable Phones of 2023. October 2, 2023 Eni Emeka
  • PayDay Potential Sale Stirs Reactions Based On The Recently Acquired $3M Investment Equity.  September 22, 2023 Eni Emeka

RSS Business Tech News

  • Palantir Beats Earnings Expectations and Raises Guidance November 5, 2023 Femi Balo
  • Block’s Remarkable Q3 Earnings Report Sparks Investor Frenzy November 3, 2023 Femi Balo
  • Apple Q4 Earnings Report: Surprises and Shifts November 3, 2023 Femi Balo
  • AMD Reports Q3 Earnings Exceeding Expectations and Highlights a Positive 2024 Outlook November 1, 2023 Femi Balo
  • Samsung Reports Strong Q3 Earnings Amid Signs of Chip Market Stabilization October 31, 2023 Femi Balo
  • Pinterest’s Impressive Third-Quarter Earnings Report and Outlook October 31, 2023 Femi Balo
  • ON Semiconductor Faces Market Challenges Despite Strong Q3 Earnings October 31, 2023 techbookybusiness
  • Huawei Records Stable Q3 Revenue Despite Challenges October 27, 2023 Femi Balo
  • Intel’s Strong Q3 Earnings Propel Stock Up in After-Hours Trading October 27, 2023 Femi Balo
  • Amazon Surpasses Expectations In Q3 Earnings Report October 27, 2023 Femi Balo

Recent News

Altman’s Return Is A Teachable Moment in AI Governance

Altman’s Return Is A Teachable Moment in AI Governance

November 27, 2023
7 Hyped Innovations That Fell Short of Mainstream Adoption

7 Hyped Innovations That Fell Short of Mainstream Adoption

November 27, 2023
Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing

Sam Altman Is Back To OpenAI As CEO Less Than A Week After His Firing

November 22, 2023
Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay

Breaking: Sam Altman Is Leaving OpenAI In Just A Week After Its DevDay

November 17, 2023
No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness

No Mr Musk, You Can’t Do It All And Don’t Blame It On Wokeness

November 10, 2023
The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada

The Airbnb Effect? A Closer Look at Housing Crises in the UK and Canada

November 10, 2023
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact us
  • Privacy Policy
  • Disclaimer
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • Home
  • Africa
  • Business
  • Video
  • Metaverse
  • AI
  • Gadgets
  • Earnings
  • Tips

© 2021 Design By Tech Booky Elite