The benefits of GenAI for the energy industry are huge and could bring the biggest technological change we have seen, but first the industry needs to begin using it says Caspar Lund, director AI at Sopra Steria Norway.
Research by Sopra Steria shows that only one in seven pilots within generative AI make it into production and value creation. In the energy industry, the challenge is to actually start using generative AI.
The energy industry faces extensive challenges in the coming years. The power grid must be modernised, sustainable power production must be expanded, and the energy system must become more flexible. Additionally, the industry must balance both energy efficiency and investment in new energy sources, while also further strengthening societal security.
Common to these challenges is that they will require enormous investments, not only in physical and digital infrastructure but also in willingness and ability to change. This is absolutely necessary for success. It is crucial to involve and invest in the people who will use the technology that is developing at a rapid pace.
More people need to see how AI can solve the challenges
Artificial intelligence can help solve these challenges more cost-effectively, faster, and with a greater likelihood of success. AI can assist in understanding causes, identifying different patterns and scenarios, simulating the best possible solution and providing suggestions for creative and realistic solutions.
To get there, it is important to demonstrate to management, employees, owners, and partners how "intelligent" machines can help solve the challenges. AI is not what many refer to as an app or a tool. We must see AI as a completely new way of interacting between humans and machines, especially as machines now approach the ability to reason and think. But ideas for creating new solutions based on this interaction do not arise in a vacuum.
The power industry cannot wait
And here is the point; the power industry cannot wait for external parties to come up with a brilliant solution or expect turnkey or radical solutions to come by themselves without effort and time.
AI, and especially the generative part of it, is new. And we see the development happening at a rapid pace. We must collaborate, work together, and use our problem-solving abilities collectively to succeed. Together, we can solve the aforementioned challenges the power industry faces.
Here are some concrete tips on how we can succeed together:
- The energy industry must help identify, prioritise and describe problems. This is a big job, as the challenges and problems must be defined as much as possible. The more concrete they are, the easier it is to find brilliant solutions.
- Knowledge about industry challenges and how technology can solve them must be increased throughout the value chain and in interaction with all actors. Knowledge and experiences must be shared.
- Various forms of open innovation must be established, where different actors can create a breeding ground for new solutions. We must increase understanding of how AI can solve challenges, and not least, what future technology will enable.
- Procurement processes must become more innovative and flexible than they are today.
- More common sandboxes and methods for experimentation must be established, both internally and across organisations.
We are ready, but we cannot succeed alone. Therefore, we hope the energy industry is ready to roll up its sleeves for the biggest technological leap ever seen in our time. It will give real power to the development of AI in the energy industry and help redefine its future.