E2B: Energy to Business: Competitive Edge: Why AI Enhances ETRM Systems

 

Today’s edge computing technologies assist all industries and markets, but can AI and machine learning transform energy trading and risk management? That was the question posed to three industry experts: Kent Landrum, Managing Director of Process & Technology at Opportune, Mark Swann, Director of the Process & Technology Group at Opportune, and Vincent Annunziata, Co-founder of Venus Technology Ventures.

They brought along their A-game with a whole bag of insights on the latest AI and edge computing trends for the energy market.

Recent headlining news announced that Baker Hughes, Shell, Microsoft and C3.ai partnered to form an open AI energy initiative. This initiative aims to solve operational efficiency challenges, including energy management, predictive maintenance, well development optimization, and more by utilizing AI as the core technology driver. Is this a game-changer for the industry?

“I think the partnership is a reflection of the momentum that AI is gaining in the industry,” Landrum said. “It signals that this is an area where companies are willing to invest in improving returns in a market that’s otherwise a pretty challenging business climate. When I look through that list of partners, I see big, established, trusted technology players, I see an innovator, and I see energy-industry stalwarts that have the wherewithal to make this kind of program go.”

In terms of energy traders and AI addressing their needs, Swann said the most important thing was data accessibility and speed.

“It could be public market data, it could be private positional data, or it could be results from models and things that I’m running locally on my network,” Swann said.

If the market could enhance the capability to access all the data a trader is looking for in one area, that could be a huge benefit.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

Brand experience with APL
Stepping into the Future at Shoptalk 2024: Creating a Flagship Brand Experience with APL
March 28, 2024

The customers of today are no longer satisfied with mere products; they crave brands that provide immersive, distinctive, and tailored brand experiences. Athletic Propulsion Labs (APL) epitomizes this shift, setting a new standard in the luxury performance market with its innovative athletic footwear. APL’s newly opened flagship boutique in Soho, with its artisan plaster walls […]

Read More
Balancing professional growth and personal well-being
Routines, Rituals and a Mission-Driven Approach: MarketScale’s CRO Tim Maitland on Balancing Professional Growth and Personal Well-Being
March 28, 2024

In a world that often demands the relentless pursuit of success, finding the sweet spot between professional growth and personal well-being can seem like an elusive goal. As we navigate the complexities of modern work-life dynamics, the conversation around maintaining this balance has become more pertinent than ever. In this episode of Growthwell, we […]

Read More
marketing careers
The Impact of AI on Marketing Careers
March 28, 2024

In this episode of The Marketing AI SparkCast, host Aby Varma, a B2B Marketing Leader and the Founder of Spark Novus, sits down with Matt Gill, the Founder and Managing Partner of MICA Consulting Group. Spark Novus is a consultancy specializing in strategic AI adoption in marketing. MICA is a leading boutique national marketing […]

Read More
healthcare cybersecurity
Continued Threats Require a Major Shift in Healthcare Cybersecurity Risk Perception
March 28, 2024

Recent cyberattacks on healthcare institutions have thrust cybersecurity from a back-office concern to the forefront of the healthcare industry’s agenda. A significant breach at Change Healthcare disrupted essential services, underlining the vulnerability of healthcare networks to such threats and the dire consequences for patient care. Government and industry responses have stressed the importance of […]

Read More