Artificial Intelligence (AI) is revolutionizing the energy industry, driving digitalization and predictive capabilities. While boosting efficiency, it also exposes vulnerabilities that require careful management. Cyberattacks leveraging AI-assisted malware experienced a significant surge of 2000% between 2018 and 2019, but the frequency has since stabilized.
On the positive side, AI and machine learning advancements are revolutionizing the energy sector. Through powerful algorithms, data can be processed to predict high-stress, peak demand periods, identify equipment failures, and optimize production, supply chains, and delivery systems. While grappling with climate challenges, the energy sector is evolving into a decentralized and diverse landscape, with AI emerging as a vital tool to navigate this new frontier.
In the green energy sector, algorithms have immense potential to optimize storage, predict and direct the output of renewable energy sources like solar panels and wind turbines. This empowers producers and consumers to participate in an optimized pricing system while effectively managing challenges arising from increased volatility. The transition toward new management methods in the energy industry is driven by the proliferation of connection points due to the rapid growth of smaller-scale energy sources. Stakeholders can leverage advanced algorithms to enhance efficiency and maximize the benefits of renewable energy.
Energy News Beat