Artificial intelligence (AI) is a fast-growing force in the technology industry. You’ve probably heard it discussed in the news as well as taking center stage at conferences and business events. AI is showing potential across a wide variety of industries, including retail and manufacturing. New products are being embedded with virtual assistants, while chatbots are answering customer questions on everything from your online office supplier’s site to your web hosting service provider’s support page.
Meanwhile, companies such as Google, Microsoft, and Salesforce are integrating AI as an intelligence layer across their entire tech stack. Yes, AI is definitely having its moment. And that moment is giving businesses across all industries an opportunity to get ahead of their competition by investing in technology in new and exciting ways. Here are a few ways you can bring AI into your business strategy to ride the wave of the technological revolution.
Artificial Intelligence in Power Generation
Companies like Siemens have released software capable of operating grids autonomously. Siemens’ program, referred to as active network management (ANM), tracks how a grid interacts with various load conditions and adjusts variable components in response to different loads of energy to increase efficiency. ANM can improve grid stability, voltage control, peak load management, and real-time situation analysis.
Schneider Electric uses ML and advanced pattern recognition to provide asset performance solutions through its Asset Performance Management (APM) programs. Schneider reports that Duke Energy prevented an estimated $35 million loss by using predictive analysis that identified a steam turbine problem. ABB also uses AI and ML through cloud-based programs in its ABB Ability solutions program to offer everything from industrial automation to asset maintenance programs that manage terra-bytes of T&D O&M data.
It all makes a good deal of sense that now we are moving into an age when the most menial tasks can be assigned to machines or automated processes. Artificial Intelligence will help us do the same offloading of menial mental work so that we can focus on the bigger picture and advance to the next big breakthroughs in modern power generation.
Chatbots are the digital assistants that we interact with as consumers regularly. They’re a staple for the help desk on almost every major website you visit and are commonly tasked with customer service and upper-funnel sales tasks. If you have worked with a chatbot previously in your career, especially if you have taken the time to analyze its data, you are experienced in the field of artificial intelligence. Chatbots are one of the most basic and most useful forms of AI in use today. They are able to collect vast amounts of data, engage with users in helpful and meaningful ways, and many of them are learning from the experience.
The rising popularity of voice assistants at home and work is an essential source of AI experience as well. Like chatbots, voice assistants are continually collecting data and learning from that data to forecast future needs better and provide better support for users. If you have experience working with voice assistants on the job, that is an excellent source of AI experience. You might not think it is at first sight, but voice assistants are built on AI technology that helps them hear and respond to your inquiries quickly and effectively.
Remember that the first steps into a new technological realm can be challenging. Still, those willing to take the risk and learn from the experience will already be ahead of the curve when it comes to the evolution of business. So take the time to get familiar with AI and how it is impacting your industry to make sure you can see the changes coming, and be ready for what the digital transformation will bring to your business.
Get Started with ESGI
Are you looking to take your career to the next level? Connect with the expert consultants at ESGI!