Innovative advances in artificial intelligence (AI) in energy are improving the way the world consumes, sells, and creates energy at a time when the environmental impacts of the global power grid are under constant scrutiny.
Companies are using AI and machine learning (ML) to take deep dives into data that can drive better decision making, cost advantages, and predictions that can stave off energy disasters and expensive downtime.
On the whole, the global energy sector produces an incredulous amount of data — so much so that it would be virtually impossible for humans to manually extract and analyze enough of these data stores to arrive at meaningful conclusions and predictions. AI, in particular, machine learning AI, is taking on a vital role in making sense of massive amounts of energy-related data.
AI-enhanced software platforms and smart tools can dig into energy data to create predictions about potential outages and equipment failures and run energy companies more efficiently and profitably.
AI in energy is being wholeheartedly embraced by companies around the world. Emergen Research reports that the global AI in the energy market reached a market size of $3.8 billion in 2020 and the market will grow by nearly 24% through 2028, when the research firm estimates a market value of $20.8 billion.
Here, we take a look some ways artificial intelligence is being used in the energy, including within the oil and gas industry and renewable energy sector.
Continue reading: https://www.datamation.com/artificial-intelligence/artificial-intelligence-in-energy/
Companies are using AI and machine learning (ML) to take deep dives into data that can drive better decision making, cost advantages, and predictions that can stave off energy disasters and expensive downtime.
On the whole, the global energy sector produces an incredulous amount of data — so much so that it would be virtually impossible for humans to manually extract and analyze enough of these data stores to arrive at meaningful conclusions and predictions. AI, in particular, machine learning AI, is taking on a vital role in making sense of massive amounts of energy-related data.
AI-enhanced software platforms and smart tools can dig into energy data to create predictions about potential outages and equipment failures and run energy companies more efficiently and profitably.
AI in energy is being wholeheartedly embraced by companies around the world. Emergen Research reports that the global AI in the energy market reached a market size of $3.8 billion in 2020 and the market will grow by nearly 24% through 2028, when the research firm estimates a market value of $20.8 billion.
Here, we take a look some ways artificial intelligence is being used in the energy, including within the oil and gas industry and renewable energy sector.
Continue reading: https://www.datamation.com/artificial-intelligence/artificial-intelligence-in-energy/
