Artificial intelligence (AI) has emerged as a transformative force, revolutionizing industries across the globe, and the energy sector is without exception. With its immense potential, AI applications are poised to reshape energy conservation and greenhouse gas (GHG) emissions reduction, leading to significant cost savings and fostering a greener and more sustainable future.
“In the last few weeks, artificial intelligence (AI) solutions have ramped up on a mass scale. These tools have become more accessible to improve not only business but basically every single aspect of life…[Therefore] embracing AI as part of a company’s evolution can be a significant step forward for improving efficiency,” says Fernando Cruz Galván, Director Mexico, Dolphin Drilling.
By analyzing data from Internet of Things (IoT) devices and sensors, AI algorithms can identify energy-saving opportunities and optimize resource consumption. In the development of smart grids, AI-powered intelligent networks can effectively monitor and control the flow of electricity for sustained and reliable energy distribution. The electric vehicles (EV) market also stands to benefit from AI risk-analysis that takes into consideration electricity prices, grid load and the availability of renewable energy to optimizing charging schedules
AI has emerged as a powerful tool for addressing complex challenges in the energy sector by leveraging extensive data sets, enabling accurate predictions and facilitating smarter decision-making, confirms reporting by Energy Portal.Recognizing its productive potential, Mexican energy and utilities leaders have made substantial AI spending investments, a market expected to reach US$57 million by 2025, according to Market Research.
Industry experts, including Matt Wytock, Founder and CEO, Gridmatic, believe that generative AI has the potential to revolutionize the energy industry and drive the decarbonization of the grid.