To be future-ready, companies must start combining AI, human skills, and trusted partnerships now. After all, climate change is happening now
Rising sea levels, and intensifying wildfires, storms, droughts and floods hammer home that message every day. The damage is undeniable, and the clock is ticking.
Human and artificial, the energy challenge requires intelligence
Let’s be clear: clean energy and efficient energy management are key to attacking the climate crisis. And the true value of Artificial Intelligence in energy management springs to life when technology meets human expertise. When you equip energy market experts with data-based insights and digital technologies, you get better-informed corporate strategies, quicker decision making, and greater operational efficiency.
AI is still a relatively new kid on the block – and many people may still have the impression that it’s a theoretical discipline that’s not yet able to deliver practical solutions.
The reality, however, is that we already apply AI to analyse, simulate, test, use logic, learn, predict, and adjust over time. And those capabilities can help companies and societies advance toward greater energy efficiency and decarbonisation.
Three ways AI can shape energy management
1. More efficient use of energy
Companies collect large amounts of data that they can use to maximise efficiency. Turning that data into insights can be a challenge – but one that AI can help with.
AI can accurately track and anticipate consumption trends, notice where changes need to be made, and automatically fine-tune systems to ensure optimum efficiency. And it can help companies react instantly to demand response opportunities and to the increasingly frequent disruptions caused by extreme weather.
2. Diversification of energy sources
AI can support companies in introducing renewable energy sources and controlling their carbon footprint – giving clean energy a better chance in the market.
Companies producing their own renewable energy can apply AI and predictive analytics to weather data to help determine peak times for generation and optimize the use of distributed-energy storage systems or batteries.
3. Smarter energy buying
AI can examine complex market trends and dissect data to devise plans to better manage energy spend and reduce risk in a volatile market.
This technology can also observe how and when companies consume energy and support their trading decisions. For example, companies who both consume and produce energy – known as prosumers – can receive guidance to make optimal decisions on when to sell excess energy from their renewable sources.
Our last best chance to tackle climate change
AI is not a “silver-bullet” that can single-handedly green a business overnight. But it’s already opening up far-reaching possibilities for companies. When implemented in tandem with – and in support of – a company’s overall sustainability goals, it can help accelerate the journey to a more climate-friendly future. And that means it can help address the greatest challenge facing humanity today.
About the Author
Peter Weckesser is Chief Digital Officer at Schneider Electric. Schneider Electric‘s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
Featured image: ©Chokniti