Energy Digital Magazine October 2024 | Page 143

TECHNOLOGY & AI
“ Our customers need us because , firstly , renewable investments are continuing to increase ,” he says . “ To manage the financial risk of the resulting increase in energy price volatility , the amount of data in the energy market is exploding . Smart meter adoption is reaching a critical point and regulations are driving data availability and incentives to leverage this data to hit society ’ s net zero targets .
“ Secondly , data technology has quickly matured to enterprise level . Enterprises are recognising the value of datadriven insights for decision-making and operational efficiency . IT budgets are increasingly being directed towards data , AI and predictive analytics , while SaaS budgets are under pressure . This accelerates a transition from
WHY ARE PLATFORMS AND ECOSYSTEMS SUCH A HOT TOPIC RIGHT NOW ?
Platforms and ecosystems are gaining prominence in the energy sector because they enable the integration of renewable energy sources , enhance grid efficiency and drive the transition toward a low-carbon economy .
As the energy sector faces increasing pressure to decarbonise , these digital frameworks facilitate collaboration , real-time data sharing and innovation – all elements that are crucial for managing the complexity and scale of modern energy systems .
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