2^nd Edition of AI and Analytics in Energy Management

AI & ANALYTICS IN ENERGY MANAGEMENT

The intelligence of "where, what & when," is critical for energy ecosystem as a whole across all industries.

Innovations in digitization, analytics, artificial intelligence, and automation are refining performance and enhancing productivity opportunities for businesses, while reforming employment and the future of work. Collectively, these exponential disruptive technologies are game changers in technical capabilities that could have profound implications for business, for the economy, and for the society.

Industry captains, have already adopted these technologies, to improve their core operations in business and also to launch entirely new business models. Yet, the volume of available data has grown rapidly in recent years; most companies are capturing only a fraction of the potential value in terms of revenue and profit gains.

At present time, it is not about what or how much information we are looking at, it is more about, how we are looking at the same information. This 'how' is our unique perspective and it makes all the difference in our way of doing business. This how also provides the narrative and the narrative leads to different collaborations and variations.

With this background, the Indian Chamber Commerce is organising a webinar on "AI and Analytics in Energy Management" on 9th July, 2021 on virtual platform with the following foci:

Data Digitization

AI can help transform data collection, storage, and management systems, allowing the energy sector to work more efficiently. Despite how powerful and profitable the energy sector is, it still relies heavily on manual work.

AI Forecasting- Predictive analytics is required by energy companies to cut costs, save power, get ready for changing conditions, and provide better customer service. Energy providers need to forecast changes in demand, system overloads, and possible failures as precisely as possible. The cost of error in the energy industry is high.

Failure, Prediction and Prevention- Artificial intelligence has the potential to assist in predicting and preventing wildfires from faulty transmission lines. For example, AI can predict system overloads and warn operators of potential transformer breakdowns.

Customer Relationship Management Systems in Energy- Some of the features of Cloud CRM Energy Software implementation are:

· Satisfying customer needs and demands with consolidated customer profiles

· Enhance risk management activities

· Track and protect Formulation and process control

· Support and enhance Quality Management practices

· Strengthen contracting an d agreement protocols

· Track and manage distribution schedules and management

· Mitigate Increased costs and reduced margins

· Pursue global and local opportunities efficiently

· Ensure Regulatory compliance

Energy Automation and Smart Grid- The participation of industrial consumers in smart grid transition is important due to their consumption footprint, heavy energy use and complexity in the implementation of smart energy technologies. Active involvement of industrial consumers in the development of smart grid solutions is important to ensure the energy system transformation.

Elimination of energy waste for industry through Smart Metering – It is being increasingly applied in some countries. When used as a factory solution, together with the Industry 4.0 concept, it can produce tangible business results. New solutions, makes it possible to check the real consumption of utilities is per production batch and to plan optimal delivery while ensuring continuity of production while optimizing deliveries.

Optimizing the use of conditioned air is one of the most effective applications of smart building equipment, especially in multi-zone systems. For example, a multi-zone variable air volume (VAV) system with six VAV boxes could use smart controls to more effectively condition each of the six zones. It takes an enormous amount of energy to condition air and then distribute it throughout a building; not surprisingly, HVAC equipment typically consumes at least 40% of a commercial building's energy. Using controls to properly manage HVAC operation is an essential part of saving energy in a building. Smart HVAC systems have the potential to greatly reduce energy consumption while maintaining or even improving occupant comfort