Impact of Artificial Intelligence (AI) on Energy and Utilities, 2018

Technology Convergence of AI with IoT, Cloud, and Big Data will Open Up Numerous Application Opportunities in the Energy Sector
Artificial Intelligence (AI) is one of the biggest technological trends transforming every business sector across the world. With advances in computer technology, AI has scaled new heights in utility and application, exceeding all initial expectations. By leveraging advanced machine learning (ML) and deep learning (DL) algorithms, and advanced neural networks (ANN), AI can handle terabytes of structured, semi-structured, and unstructured data from disparate sources and identify patterns, as well as make predictions and recommendations based on its understanding of the data. This intelligence is being harnessed to develop innumerable smart applications that can efficiently take critical decisions autonomously and accurately, without human intervention.
This market insight provides a detailed analysis of the current and future applications of AI in the energy & utilities sector, across the entire energy industry value chain.
The study includes the following:
• Technology trends, which includes AI, its evolution, and the different disciplines in which it is being used
• Industry trends, which includes the application of AI across different business verticals, with use cases
• Geographical adoption and key companies that dominate the global AI market
• The applications of AI across the three main application segments of renewables management, demand management, and infrastructure 
The case studies provide an overview of the current challenges in certain areas of the industry and showcase the ways in which AI can be a better solution than manual methods.
Key Questions this Study will Answer
What is AI? What are the current and evolving AI disciplines? How does AI empower and enhance machine efficiency? What does the AI technology value chain look like?
What are the key trends in the global AI market? What are the challenges?
What are the current applications and use cases of AI across different verticals? What are the current geographical adoption rates?
What is the impact of AI on the energy & utilities sector? What are the three main areas where AI can be leveraged?
What are the leading companies that leverage AI technology in the energy & utilities

Currently, the global energy market is undergoing a massive shift with the emergence of decarbonisation, decentralisation, and new technologies. Utilities, independent power producers (IPPs), and other energy companies are exploring effective ways to manage the imbalance in demand and supply caused by the growing use of unpredictable renewable energy source (RES) in power generation. Therefore, utilities, energy companies, and grid operators are exploring ways to employ AI technologies to improve the accessibility and efficiency of renewable energy technologies. Despite its nascence, AI possesses tremendous potential to transform the energy & utilities sector. In combination with other technologies like Big Data and IoT, it can aid the active management of electricity grids by balancing demand and supply.
Table of Contents
1. Executive Summary
 AI—Summary of Main Technologies, Solutions, and Benefits
 AI—Challenges the Technology can Solve
 AI—Maturity of Technologies/Applications2. Research Scope & Methodology
 Research Aim & Scope
 Research Methodology3. Technology Status, Trends, and Business Models
 Overview of AI
 Current and Evolving AI Disciplines
 Four Main Layers of an AI System
 AI Empowers and Enhances Machine Efficiency
 Key Trends Driving the Global AI Industry
 AI Technology—Key Challenges
 Spectrum of AI Systems
 Current Applications of AI across Different Business Verticals
 AI Value Chain
 Key Stakeholders in AI Value Chain
 Global AI Adoption
 Key Players in the AI Industry
 AI Adoption in Industries
 AI Use Cases across Industries
 AI Technology Roadmap4. AI in Energy & Utilities
 AI in Energy & Utilities
 Three Main Applications of AI in Energy & Utilities
 AI in Renewables Management
 Use Case 1—GE: AI in Renewable Energy Management
 Use Case 2—NEXTracker: AI in Renewable Energy Management
 Use Case 3—Xcel Energy: AI in Renewable Energy Management
 Use Case 4—Nnergix: AI in Renewable Energy Management
 Other Companies5. AI in Demand Management
 AI in Demand Management
 Use Case 1—Upside Energy: AI in Demand Management
 Use Case 2—Hazama Ando: AI in Demand Management
 Use Case 3—Origami Energy: AI in Demand Management
 Use Case 4—Dexma: AI in Demand Management
 Other Companies6. AI in Infrastructure Management
 AI in Infrastructure & Assets Management
 Use Case 1—DeepMind: AI in Infrastructure Management
 Use Case 2—Verdigris: AI in Infrastructure Management
 Other Companies7. Growth Opportunities & Companies to Action
 Growth Opportunity—AI in Energy
 Strategic Imperatives—AI in Energy8. The Last Word
 Three Big Predictions
 Legal Disclaimer9. Appendix
 List of Exhibits10. The Frost & Sullivan Story

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Sectors: Cross cutting, Digital, Industry, Power sector

Country / Region: Global

Tags: , , , , , ,

Knowledge Object: Publication / Report

Published by: Frost & Sullivan

Publishing year: 2018

Author: Global Energy & Environment Research Team Frost & Sullivan