Is there any industry that does not rely on artificial intelligence or robotics? It is, however, impossible to find any. This is since almost every industry relies on AI or robotics in some form or another. Similarly, one industry that has made the best utilization of Artificial intelligence and robotics is the energy sector. In this article, we will discuss the top ten applications of Artificial intelligence and robotics in the energy sector.
Identification of Energy fraud
Many people are unaware that theft and fraud in the energy sector cost billions of dollars. AI can assist in dealing with this by automatically identifying abnormalities and flagging them for resolution by energy companies.
Predictive analytics
Predictive analytics is important in the energy sector because it can forecast the way energy demand will differ in the future. This data can then be utilized for planning in the future and building the infrastructure required to meet future energy demands.
Defect identification
The energy industry necessitates careful and effective resource management. This is due to the significant risk posed by faulty material or flaws in pipes/wiring/machines or fault-susceptible process lines. Given how challenging it is for humans to predict industrial accidents, artificial intelligence comes to the rescue. AI assists in validating production quality and providing deep insights into defects through the use of analytics.
Customer commitment
Energy companies can offer customers information tailored to their specific needs by utilizing AI and robotics. Organizations are in a position to comprehend customer energy utilization and then educate customers on how to reduce their energy consumption.
Grid security
Artificial intelligence and robotics have the potential to detect patterns in energy data that may indicate a cyberattack. As soon as a cyberattack is detected, AI and robotics respond.
Emissions tracking
Given the efforts made by energy organizations for decarbonizing their operations and value chains, AI can be a boon in this regard. The number of fugitive emissions of greenhouse gases escaping from pipelines and energy equipment can be tracked using AI software.
Infrastructure management
AI and robotics have greatly simplified the process of aggregating, comparing, evaluating, and identifying risks and opportunities across utility infrastructure for growing power production enterprises. Finally, this sheds light on how effective infrastructure management has turned as a result of Artificial intelligence and robotics.
Trading energy
It is worth noting that AI and machine learning can be utilized for enhancing the efficiency of energy trading. This is accomplished solely by forecasting energy demand and offering traders real-time energy price information. With this information gathered/collected, energy traders can make more informed decisions regarding the apt time for purchasing and selling energy.
Inventory management
Needless to say, poor inventory management results in massive losses. In this case, artificial intelligence can aid in increasing efficiencies in network planning and predictive demand, allowing merchants to become more proactive.
Production increase
With AI in place, businesses can now better analyze the data they gather for making better decisions. This technology is also being utilized for boosting global production.
