Electricity

Half of energy organizations set to integrate AI in year ahead – survey

artificial intelligence electricity energy dnv survey

Photo: Tung Nguyen from Pixabay

Published

August 27, 2024

Country

Comments

comments icon

0

Share

Published:

August 27, 2024

Country:

Comments:

comments icon

0

Share

Nearly half of senior energy professionals plan to integrate Artificial Intelligence (AI)-driven applications into their operations in the coming year, according to a new report from DNV. The Norwegian consultancy has conducted an annual survey of nearly 1,300 senior professionals, alongside in-depth interviews with industry leaders and experts.

By 2050, AI will support a USD 1.3 trillion decrease in clean energy generation costs and reduce grid equipment costs by USD 188 billion, DNV underlined in its latest report, titled Energy Industry Insights, adding that overall, power system costs will be reduced by 6% to 13%.

According to DNV, the survey highlights digitalization’s crucial role in transforming the energy sector. AI-driven technologies like smart grids, predictive maintenance, and real-time data analytics are already taking hold in the energy sector and promise to revolutionize it further in the coming years, it noted.

AI is now an indispensable building block of energy systems

AI is now an indispensable building block of energy systems, with​ 47% of respondents saying their organization will use AI-driven applications in their operations in the year ahead — a figure climbing to as high as 69% for what DNV describes as “Digital Leaders.”

While 28% of respondents claim their organizations are excelling in digitalization and show greater optimism about achieving revenue, profit, and decarbonization goals, 37% report the opposite.

DNV has called the former “Digital Leaders,” and the latter “Digital Laggards.”

Leaders are significantly ahead in using digital technologies for decarbonization and the energy transition

Leaders are significantly ahead in using digital technologies for decarbonization and the energy transition, with 68% having quality data and 80% already benefiting from digital technologies, compared to 21% and 33% of Laggards respectively, DNV noted.

On emerging technologies in general — like AI (27%) and digital twins (34%) — around one-third of Leaders say they are live or advanced, compared to just single-digit percentages for Laggards. In fact, most Laggards report being in the early development stages (planning or piloting) of all the key technologies DNV asked about.

What are the most impactful data-driven applications?

The top three most impactful data-driven applications for Leaders are optimizing processes, integrating systems and databases, and automating operations. However, 50% to 60% of Leaders also report major or massive impacts from a wide range of other data-driven innovations, from predictive maintenance to supply chain management.

According to DNV, resistance to change is a major barrier for both Leaders and Laggards, compounded by the need to balance safety and agility in an industry where failure is not an option.

As the energy sector navigates the twin challenges of digitalization and decarbonization, the ability to adapt and innovate will define success, said Lucy Craig, Director of Growth, Innovation and Digitalization, Energy Systems at DNV.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia and Hungary continue to strengthen energy cooperation

Serbia, Hungary continue strengthening energy cooperation

14 February 2025 - Minister Đedović Handanović and her Hungarian counterpart Péter Szijjártó discussed strengthening bilateral energy cooperation

Cypriot minister not optimistic GSI cable project Greece Turkish intimidation

Cypriot minister not optimistic about cable project with Greece amid Turkish intimidation

14 February 2025 - Cypriot Minister of Finance Makis Keravnos said the GSI undersea cable project still faces very serious political obstacles

ETIP SNET seeks input strategic paper AI smart grids

ETIP SNET seeks input for strategic paper on AI in smart grids

14 February 2025 - ETIP SNET drafted a strategic position paper – guide for unlocking AI and GenAI potential in smart grids and the energy transition

NGEN commissions Austria’s largest battery storage system

NGEN commissions Austria’s largest battery storage system

13 February 2025 - Slovenia-based NGEN put Austria’s largest battery energy storage system into operation. It installed it in record time – just seven months.