AI in energy management: the market view

Abstract

This chapter examines the impact of artificial intelligence (AI) on energy management. A lot of attention was paid to the market and emerging technologies and their potential in addressing global problems in energy. In the course of such energy-related troubles as energy demand, environmental issues, and the urgency of switching to renewable resources, AI appears to be the spark in the radical and sustainable transformation of the energy sector. A particular emphasis has been made on the most significant players in this industry, ranging from established energy firms to nimble new entrants; all of them apply AI in making energy use and its predictive maintenance and automation of the grid even smarter. We demonstrate these transformations through a number of practical examples, not only do the new technologies bring permanent changes in energy operations, but they are also transforming the way utilities do business with their customers. There are however difficulties associated with the implementation of AI in the energy market such as data security, proper infrastructure, and human resources. However, the benefits of embarking on this journey are enormous. To be sure, a successful deployment of energy AI technologies can take us to a future world that is green and efficient for an individual, communities, and the society at large.