The Energy Digital Year in Stories: January

December 21, 2024

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Predictive AI’s Role in Transforming the Energy Industry

We look at the articles that made the news across the energy space 2024. Today, it is January's turn, featuring Microsoft, Google and Danfoss

Why Is Cybersecurity Essential to Utilities Companies?

No industries are free from the relentless nature of cyber attacks, and the energy and utilities sector is no different.

Stats released this year for 2022 show that the average cost of a data breach in the energy sector hit a new record high of US$4.72 million. The same study, part of the Digital Demand-Driven Electricity Networks Initiative, supported by the Clean Energy Transitions Programme, the IEA’s flagship initiative, also highlighted how critical infrastructure — including gas, water and particularly power utilities — are favoured targets for malicious cyber activity.

Kinnera Angadi is the Chief Technology Officer for Honeywell Smart Energy & Thermal Solutions where she leads end-to-end technology solutions innovating and delivering metering, sustainable solutions, communication platform and software solutions for the utilities industry.

With more than 15 years of technology experience across IT and digital services, Angadi inspires innovation within organisations through advanced technologies. This includes electronics, mechanical and software engineers charted to solve key challenges across electric, water, thermal, burners and gas utility space and driving sustainability across smart energy and thermal solutions paving a path for digitisation.

In this article, Kinnera highlights why the industry is under fire now more than ever and how individual businesses can play a part in not only protecting themselves but the wider sector from threats posed by cyber threats.

Predictive AI’s Role in Transforming the Energy Industry

With an Increasing Focus on Efficiency and Sustainability Across the Energy Sector, Artificial Intelligence is Poised to Play a Key Role

There isn’t often a day that goes by now where the letters A and I, said consecutively, don’t cross the human consciousness. Once a concept only known to tech-focused minds has now been catapulted into the mainstream, artificial intelligence (AI) has well and truly taken over, with its benefits being harnessed left, right and centre. And that is no different when it comes to the energy sector.

Historically being regarded as an industry slow to take on and utilise emerging technologies despite literally powering modern life,the energy sector has come on leaps and bounds in recent times in not only the energy sources used, but when it comes to harnessing the benefits that come with digitisation and modern technology.

Here’s where predictive AI comes in. Not to be confused with generative AI (Gen AI), which has a primary focus on creating new and original content, predictive AI is a form of intelligence that uses patterns in historical data to forecast or classify, providing actionable insights and support when it comes to decision-making and strategy formulation.

AI is set to revolutionise the potential of predictive maintenance, improving system efficiency and even international energy security, thanks to its ability to identify and resolve problems before they have a chance to disrupt operations.