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Exploring how AI can be applied to the business needs of the electric power industry

machine learning
Credit: Pixabay/CC0 Public Domain

A recent study published in IET Generation, Transmission & Distribution explores how artificial intelligence—in particular machine learning techniques—can be leveraged as powerful tools for the electric power and energy industry, and for managing its assets.

By showcasing practical applications and success stories, the study demonstrates the growing acceptance of machine learning as a valuable technology for current and future business needs in the power sector. It also assesses the barriers and difficulties of implementing large-scale machine learning techniques in practical settings, while exploring potential solutions.

"To support the power sector in its goal of efficient asset management, we must keep investigating and developing machine learning–based strategies. By doing this, we can ensure sustainable, dependable, and effective energy networks for the future while fostering resilient power systems that satisfy the changing demands of a changing world," the authors wrote.

More information: A Review of Asset Management using Artificial Intelligence-Based Machine Learning Models: Applications for the Electric Power and Energy System, IET Generation Transmission & Distribution (2024). DOI: 10.1049/gtd2.13183

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Citation: Exploring how AI can be applied to the business needs of the electric power industry (2024, June 12) retrieved 19 July 2024 from https://techxplore.com/news/2024-06-exploring-ai-business-electric-power.html
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