On this week’s video podcast, Daniel Litwin hosts Jason Kram, Executive Vice President of Adapt2 Solutions, breaks down how AI and machine learning technologies are supporting utilities’ operations, especially in security and operational efficiency.
Adapt2 Solutions brings AI capabilities and secure access to the cloud for 6 of the top 10 energy utility companies including ConEd, Duke, Exelon and Sempra.
Gartner recently released a CIO survey on Energy, Oil & Gas Utilities’ use of cutting-edge technology. Their survey showed Energy, Oil & Gas Utilities’ IT leaders prioritize location and cyber security technologies, 38% are investing in Artificial Intelligence and machine learning and 17% in the Internet of Things including sensor-based video technologies.
Jason shares that large volumes of data is being collected for AI and machine learning use. Major utility companies, like ConEd and Duke, manager power plants with “tons of data that the human mind cannot fathom”. In order to monitor variables and data, these companies utilize AI & machine learning today to improve their operational efficiency.
As the data that is able to be captured becomes more and more granular, renewable technology is being used. Wind and solar energy sources are becoming more popular to meet society’s goal of a cleaner and healthier environment.
Oil and gas demand have plummeted during the pandemic and remained low as COVID continues. As the fuel supply demand dropped with less work commutes, there has been a shift in need. Work from home and online schooling has increased the need for excellent utilities. There has been a shift in the pattern of power demand. COVID has accelerated the need for forecasted and leveraged data, and Adapt2 Solutions is working to meet these new demands.
Legacy energy industries are facing continued pressures to cut costs due to increased regulatory compliance costs, which based on long-term decarbonization goals, will probably not be slowing down. Amazon, Walmart, and Google are becoming power producers to meet their customer’s needs. Wind and solar can be very unpredictable, so these companies rely on technology to predict and track weather patterns.
Jason shares how “Tesla has made a big investment on the battery side” to combat unpredictability and meet the need to store energy when weather is not providing sufficient energy levels. Technology provides security in the availability of energy sources, which has never been more crucial.
Follow us on social media for the latest updates in B2B!