The value of the renewable energy market is set to grow from $880 billion to nearly $2 trillion by 2030.

Artificial intelligence (AI) is having transformative effect across energy and utilities. It is used to forecast demand and manage the distribution of resources, to ensure that power is available at the time and place it's needed with a minimum of waste. This is particularly important in the renewable energy industry, where it often can’t be stored for long periods of time and has to be used close to the time and location where it is generated.

The World Economic Forum predicts that AI will play an essential role in the world’s transition to clean energy. These gains in efficiency will be created by more accurate forecasting of supply and demand. 

Additionally, as we transition to a decentralized model of power generation and distribution, AI will play an important role in coordinating the integration of these networks. The strategy here is to create an “intelligent coordination layer” that sits between the power infrastructure and homes and businesses where power is consumed.

To give us greater clarity on how AI and other emerging technologies will reshape the future of the energy sector, we are joined by Luis Gonzalez, General Manager for Data Innovations in the Power Industry, Aboitiz Data Innovation.

1.       Compared to other industries/markets – like retail, financial services – how would you describe the state of modernization or digital transformation of the utility/energy (UE) sector?

2.       What are the main drivers calling for the modernization of the UE sector?

3.       Among the many technologies – cloud, big data, mobility, IoT, machine learning/AI, etc – which are drawing the most interest from leaders in the UE sector and why?

a.       How do you see UE adopting these technologies to transform the business?

b.       How do you see UE adopting these technologies to meet ESG aspirations?

4.       What can UE leaders learn from other industries or companies?

5.       Deregulation and open market competition will eventually come to the energy sector? Can you share your views on how UE leaders can navigate this complex landscape, including under evolving regulation?

6.       Where does Aboitiz Data Innovation fit in this transition to this data-driven energy sector?