There is a clear lack of innovation within the energy industry. Where other sectors have seen rapid growth and embraced new technologies in recent years to improve the way they work, energy has fallen behind with the same process from 40 years ago still being used today. Energi Mine uses AI and blockchain technologies to advance current processes within the energy sector.
AI has had its fair share of bad press, but it isn’t a killer robot that’s coming, it is a computing method that process data (the more the better) and picks up on consumer patterns, habits and more to present users with the information they need to see, essentially before they know that they need it.
“Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we'll augment our intelligence.” —Ginni Rometty
AI has helped us reduce process from months to mere minutes, helping us to save our customers money and time which they can utilise elsewhere. Rummaging through all those files and data trying to take the relevant pieces of information and then decoding them to come to a result is an arduous task, but with the implementation of our AI technology, the answer is just one click away.
Not only have we used AI to improve our customer experience but we have also used AI within our trading department. Energy markets are extremely volatile which makes trading on the energy market a huge task for any end user or even an experience trader. AI reads and applies information quicker than any other form of analysis can, looking at all the variables that can affect the market, and taking into consideration previous trends, diplomatic changes, weather changes and so on to provide signals on what way the market is leaning.
These processes allow us to inform our clients far quicker and far more efficiently than any other method currently being implemented to ensure they know how the market is behaving and how we can respond to the changes and benefit them. By reacting in this way to market movements we can ensure we take full advantage of market dips and protect our customers against peaks, reducing their overall bill throughout the lifetime of their contract.
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