The #AIEYE: #AI Brings Results in Addressing Energy
Consumption Problems: (TSXV: $MCLD.V) (OTC: $MCDLF) (NYSE: $ACN) (NYSE: $DE)
(NASDAQ: $SWIR)
Point Roberts WA, Vancouver BC – March 12,
2019 – Investorideas.com,
a global investor news source covering Artificial Intelligence issues a special
edition of The AI Eye, looking at how AI will
play a significant role in clean energy and energy efficiency.
Read this in full at https://www.investorideas.com/news/2019/artificial-intelligence/03121AIEye-MCLD-MCDLF-ACN-DE-SWIR.asp
The subjects of energy efficiency and
renewability are perhaps more pertinent than ever with the rising spectre of
long term environmental degradation in the form of climate change, as well as
excess costs incurred by waste. But while top-down approaches like the “Green New Deal”
fail to find consensus, technological solutions through artificial intelligence
are addressing the problem head-on, in a multitude of innovative applications.
An
article from T&D World Swagath Navin Manohar,
Research Analyst for Energy & Environment, quotes on how leveraging AI
allows energy providers to amend and improve consumption:
"In
addition to making the electricity system intelligent and flexible, AI
algorithms help utilities and energy companies understand and optimize consumer
behavior and manage energy consumption across different sectors,” he said.
"Meanwhile, complex machine learning algorithms combined with real-time
weather data from satellites, ground-based observation, and climate models can
be used to forecast the electricity generated by RES like wind, solar, and
ocean."
Exemplifying Manohar’s claim is Google,
whose US wind farms have been boosted “roughly 20 percent” by DeepMind’s AI system,
according to Forbes. According to the piece,
DeepMind’s AI system utilizes “a neural network trained on widely available
weather forecasts and historical turbine data - can predict wind power output
36 hours ahead of an actual generation with a reasonable degree of accuracy.”
Universal mCloud Corp. (TSXV:MCLD) (OTC:MCLDF), through its
AssetCare platform, aims to optimize energy consumption by as much as 20
percent in commercial buildings using a blend of AI, IoT and cloud computing.
In an interview with Investorideas.com, company CEO, Russ McMeekin, explained
how implementing IoT in a building’s thermostat system allows for less energy
waste.
“You replace … thermostats with smart or
IoT thermostats, and those are connectable through either 4G, 5G, LTE or WiFi
directly to the cloud,” he said. “In real time, buildings get optimized to use
less energy.”
McMeekin also indicated that mCloud’s tech
enables buildings to detect problems ahead of time and fix them before they
cause a disruption.
“It drives preventative maintenance,” he
said. “The data shows that behavior is about to change in the assets, so before
failure occurs maintenance can begin.”
Listen
to Interview:
Elsewhere, communications company Sierra
Wireless (NasdaqGS:SWIR) (TSX:SW) provides Swedish power
company Vattenfall with smart meter IoT technology that collects “accurate and
timely electricity meter readings” giving the latter “full control of data
availability”. In addition to the savings afforded to the company with more
efficient data collection, Vattenfall Business Area Manager Erik Nordgren
explains how it improves the consumer’s experience:
“Vattenfall
is dependent on collecting meter information from close to 1,000,000 customers
all over Sweden. Flexibility, when it comes to the service provider is crucial
for us in order to guarantee our customers the best services at all time.”
An article from CIOL describes how Accenture (NYSE:ACN) Applied
Intelligence makes use of AI and machine learning in a ventilation system for
Metro de Madrid. The system has reduced the Madrid transit system’s “energy
costs for ventilation by 25 percent and cut CO2 emissions by 1,800 tons
annually.” Isaac Centellas, Head of The Engineering and Maintenance Division at
Metro de Madrid, commented:
“With
help from Accenture, the innovative ventilation system has enabled us to
achieve the dual benefits of lower energy costs and a reduced environmental
impact. Ensuring the comfort of our passengers while being highly
energy-efficient and environmentally friendly is a true win-win outcome.”
John Deere (NYSE:DE) demonstrated its
commitment to energy efficiency last summer with the publication of sustainability goals
it’s aiming to fulfill by fiscal 2022. Listed among the goals is: “Reduce GHG
emissions by 15 percent through 50 percent renewable electricity supply and
excellence in energy efficiency.” A way in which the company is tackling this
is their implementation
of AI technology in farm equipment, which among other things, allows robots to
more efficiently use pesticides that have an adverse effect on the environment
and human health.
There are many angles from which the
ongoing problem of energy consumption and its attendant risks, are being
addressed, but artificial Intelligence and related tech solutions are already
well on their way to being implemented and are making palpable differences in
terms of waste reduction and cost savings.
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