AI is increasingly aiding utilities in managing, optimizing and maintaining not only their infrastructure, but their customer support operation as well. AI is helping utility companies automate repetitive customer inquiries and other tasks, thereby allowing them to concentrate on building customer relationships and taking their customer service to the next level.
Predictive analytics, RPA and virtual assistants are examples of use cases where Artificial Intelligence has transformed the utilities industry, delivering an enhanced CX and added value for the enterprise overall. With 83% of top European utilities executives considering AI a high to medium priority for their business, customers can expect further transformation of the utility industry in the future.
AI-based applications can create further revenue opportunities for the energy and utility sector by:
- Empowering software applications to analyze large data sets, identifying patterns, detecting anomalies, and making precise predictions.
- Aiding the development of smart applications that can autonomously make accurate decisions based on learning. This drives AI’s integration with a wide range of applications.
- Enabling customer-centric solutions that understand evolving customer needs and make automatic recommendations.
- Using predictive analytics to improve equipment O&M and predict downtime, which can extend the lifetime of the equipment.
- Facilitating active customer participation in demand-response programs using game theory algorithms and leveraging blockchain to protect data.