Published: 31 January 2024
Utilities have implemented AI/ML models to improve business and operations for decades across varied use cases, but increased AI-related hype and failing projects are undermining utilities’ faith in AI. CIOs can use this trend to guide creation of new strategies to deliver realistic returns.
The emergence of new technologies and hype is creating confusion for utility leaders about the best approach to achieve business value even though utilities have implemented artificial intelligence/machine learning (AI/ML) for several years.
Generative AI (GenAI) opens opportunities, such as generating synthetic data for improved simulation across scenarios, that are essential to drive new automation use cases needed for the development of intelligent operations.
As anticipation and enthusiasm for AI intensify, utilities have the opportunity to adopt AI for process enhancement. Various partnership opportunities emerge through vendors who embed AI models in off-the-shelf software applications customized for utilities, facilitating the consolidation
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