In this extract from the new Cosmo Tech eBook Reshaping the World with Augmented Intelligence the impact of augmented intelligence on the utilities sector is explored and the fundamental ways in which it is changing how decisions are made are explained. To download the entire eBook, enter your details at the bottom of this post.
AUGMENTED INTELLIGENCE IN PRACTICE: UTILITIES.
The advent of electrical grids has made countries, cities and homes safer, more productive, and more enjoyable. Consistent electrical power is also an engine of the current tech boom, powering and charging the devices we use to communicate and get our work done.
But in most countries, electrical transmission lines, transformers and other critical components of the electrical grid are reaching their end of life. Water and gas production and transmission systems are also aging. Yet, the immense size, cost and complexity of these projects have made it difficult for the individuals running these companies to prioritize the upgrades in order to achieve the most bene t with the least impact on already strained budgets.
While some very advanced utilities have been able to find innovative solutions to this challenge, many others have been unable to do so. As a result, over the next 10 years, there is a risk that some utilities may be overwhelmed by system failures, including blackouts, pipeline explosions and contaminated water.
IT GETS WORSE.
The expert workforces at these utilities are also aging, and utility companies will face additional challenges as experts retire and a new generation of employees must be trained.
At the same time, the utility infrastructure is growing infinitely more complex. For example, electrical grids must incorporate solar and wind, as well as residential-generated electricity that is sold back to the grid.
In such an environment, power companies must be able to understand every possible impact on the grid, from subtle weather changes to Christmas lights to an electric car convention, to ensure the optimal amount of available power. New regulations and technologies will similarly impact gas and water production and distribution.
THE SOLUTION: AUGMENTED INTELLIGENCE.
Augmented Intelligence simulations can provide utility companies with predictable models for determining optimal trade-offs for OPEX & CAPEX spending vs. production and transmission reliability.
The modeling and simulations would include all physical assets and all human resources, financial metrics and constraints, and their interactions over time. This way, Augmented Intelligence can develop a holistic view of the entire investment portfolio, simulating the impact of any decision on budgets, quality of service, and other risks.
For example, European utility Réseau de Transport d’Électricité (RTE) is using Augmented Intelligence to power its AIO (Asset Investment Optimization) software. Developed in partnership with Cosmo Tech, AIO has enabled RTE to find the most efficient maintenance policies in terms of cost, electricity quality, environmental impact and security.
RTE expects to optimize the cost of asset management by 10 percent while delivering the same level of service for customers. AIO will also be used to create similar game-changing solutions for gas transmission, rail, communications and other highly complex networks. It’s important to remember that Augmented Intelligence doesn’t predict the future. It isn’t a “black box” that solves problems by at.
Augmented Intelligence allows RTE and other organisations to run simulations that reveal possible outcomes, allowing leaders to make decisions – and explain those decisions – based on an amount of aggregated information and a depth of analysis that simply isn’t possible with AI or other tools…