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The rise of AI in the utility sector

AI is set to revolutionize the way utilities operate and serve their customers. As with other industries, change in this sector is inevitable, as enhancing customer experience through technical innovation continues to be key to remaining relevant in a competitive digital marketplace. 

In this week’s Reading Room, we selected articles that explore the rise of AI in energy and utilities. We round up with some great advice from our digital CX expert, Mia Papanicolaou.

Artificial intelligence and the utility sector

Artificial intelligence will change the way utilities engage with their customers. An aging workforce will make way for younger, more technologically minded and enabled employees. In this article, it is noted that “an employee-driven culture of innovation will enable the technological revolution that personalizes pricing for the customer, all the while improving the operational efficiency of delivering reliable, safe, and cost effective power.”

The adoption of AI as an automation process does however pose the threat of job loss. But, there will also be a demand for new skill sets, which will lead to the introduction of new job functions. Interesting times! Read further to learn more.

 

AI has huge impact on Energy and Utilities – Frost & Sullivan’s analysis

An analysis by Frost & Sullivan reveals that big data, predictive analytics, artificial intelligence (AI) and the Internet of Things (IOT) are sparking interest in the utility industry, as they look to integrate into the global AI market. AI will not only play a significant role in how utilities manage demand, renewable energy and infrastructure, but it will also help them understand consumer behavior and optimize engagement.

There is no doubt that AI based applications will drive revenue for the utility and energy sector, from enabling customer centric solutions to leveraging blockchain for data protection. There is also a neat infographic, based on Frost & Sullivan’s recent analysis – Impact of Artificial Intelligence (AI) on Energy and Utilities, 2018.

 

How Utilities Can Use Artificial Intelligence to Upgrade Customer Experience

“83% of top European utilities executives consider AI a high to medium priority for their business” – according to a report by Roland Berger. This is a good indication that the utility industry is already leveraging emerging technologies to enhance the way they operate and engage with customers. Also interesting to note: “Gartner reports that the vast majority of utilities’ investment in Artificial Intelligence is earmarked for customer service.” AI use cases, such as predictive analytics, Robotic Process Automation (RPA) and virtual assistants are enabling utility organizations to deliver a greatly enhanced customer experience. 

Read further to learn about advances in AI, the key applications in the utilities industry, quick wins, predictive analytics in billing, smart meter reading with RPA and more…

 

  • Publisher: Tech See
  • Access: Public
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A tip from our digital CX expert:

“The main drivers of change in the utility sector are heightened consumer expectations, new technologies and environmental pressures. And with the ‘power’ now in the hands of the consumer, utility providers must evolve in order to delight their customers with a great CX.

Utility providers can leverage emerging technologies to drive engagement, build better relationships, increase the perception of personal value and ultimately improve customer experience.”

Mia Papanicolaou

COO, The Americas

Let’s discuss how you can leverage AI technology to enhance the way you communicate with your utility customers

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Alison Treadaway

Alison Treadaway

Chief Marketing Officer (CMO)

Alison Treadaway is the ​Chief Marketing Officer (CMO) at Striata. She joined Striata in 2002 and served as managing director of the African region for 13 years. Prior to this, her experience in Internet-related solutions included marketing and sales positions at Internet Solutions and Dimension Data. Her professional certifications and licenses include a Bachelor of Arts (English, German, WITS) and a Post-graduate Diploma in Business Administration (WITS Business School).

Read more of Alison's blog posts here or connect with her on the following social channels: