Intelligence in C/ETRM – Automation Examples

Artificial Intelligence (AI), Machine Learning (ML), Robotic Process Automation (RPA), and of course digitization has been and still are hot buzzwords. AI has been around for some time, while the term Machine Learning is a more recent term, often opportunistically used to rebrand AI. Machine Learning can be considered a current application of AI based around the idea to let machines access data and let them learn for themselves. Rule-based systems use rules prepared by humans, and some may see it as old school AI. With the increase of digital information being available, both Rule-based systems and ML have a lot to offer. With their promise of automating mundane tasks as well as offering creative insight, the energy trading market has been recognizing the benefits. Next generation ETRM systems have adopted AI, thereby embedding intelligence in various functional applications as routine technology as illustrated in the following Automation Examples. Forecasting The development of neural networks has been key to teaching computers to think and understand the world in the way humans do. Essentially it works on a system of probability – based on data fed to it, it can make statements, decisions or predictions with a degree of certainty. By… continue reading

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