Originally published on September 19, 2019 by Sam Mire on Disruptor Daily.
There are few industries more critical to global prosperity than the energy sector. Though companies like BP and Shell often catch flack — at times, deservedly so — there’s no denying that they play a critical role in bringing humans’ light, heat, and fuel to power their vehicles. So how is AI (and other technologies) helping these companies? Is it improving accountability, or leading to lower costs for consumers?
These industry insiders shared their insights on the state of AI in the energy sector. Here’s what they said:
“AI is quickly growing momentum in the energy industry, particularly for forecasting activities which is at the core for trading strategies and operations. Today, nearly all forecasting has some element of AI (whether predictive analytics or paired with machine learning technology) that provides access to more data to better predict extreme events or weather patterns. Although AI is in its early stages of implementation, its effect is already modernizing the energy grid, creating stronger trading strategies and risk management policies – ultimately revolutionizing the way we produce, transmit and consume energy.” – Jason Kram, Executive Vice President at Adapt2 Solutions
Click here to read more expert opinions.
This article is part of our AI and energy series. Follow us on LinkedIn to never miss an update.