The Now and Next of AI & the Water Utility Industry: Sci-fi no more.
Technology is key to advancing the utility industry and achieving large-scale goals like net zero. We believe AI technology can accelerate industry goals and benefit everyone.
The AI (Artificial Intelligence) Evolution
The start of 2023 has seen an eruption of AI in the media, putting this technological innovation top of many people’s minds. Thanks to the widespread access of ChatGPT by OpenAI, what everyone thought would be years away is now on the verge of widespread adoption.
What makes this exciting for us is the potential benefits of AI technology accelerating innovation within global utility market. We are already seeing UK water market participants excited about the potential opportunities this technology means. Wholesalers particularly are beginning to explore how it can improve operations, maintenance, water wastage, and overall infrastructure development.
A few examples of specific AI being explored include:
1. Predictive Maintenance
AI-powered software designed to help predict equipment failures and perform preventative maintenance, reducing the risk of equipment breakdowns and improving overall system efficiency.
2. Water Distribution Optimization
AI algorithms aiming to improve distribution systems by optimising water flow, reducing energy costs and minimising leakages.
3. Demand Forecasting
Large-scale data analysis managed by AI. Collating and analysing multiple sources such as weather, population, and water usage patterns to predict future water demand and help water utilities plan where to build future infrastructure.
4. Water Quality Monitoring
AI software can analyse water quality in real-time and alert utilities to potential contaminants, helping to prevent water pollution and improve public health.
5. Advanced Metering Infrastructure (AMI)
AI-powered AMI systems help water utilities to collect and analyse meter data, enabling utilities to manage water usage more effectively and reduce waste and costs.
The future of technology in the utility sector looks promising and we are excited to be exploring new industry focussed outcomes through AI.
Some of our own current explorations to adopt AI technology for the benefit of utility markets include:
- Enhancing billing data and insights management - simplified, automated, real-time analysis improving both settlement and revenue assurance monitoring.
- AU Agents reducing repetitive tasks - freeing people up to improve processes and investigate exceptions.
- Using chat to create interactive and contextual interactions & documentation.
- Improving accessibility - making it faster and easier for anyone to access data driven insights and context.
- Supercharge testing & regression processes.
- Advancing user experience - complimenting customer service and training opportunities.
- And many new and unexplored concepts.
While we cannot predict everything the future brings, at Valytica we are excited to be on the AI journey and excited for what’s next.
Where do you think AI will take us? Share your thoughts with us today.