Ellen Chang, 5 Energy Companies Using AI for Cost-Efficiency, US News, April 12, 2019.
Companies use AI to detect faults such as cracks in pipelines and machinery by analyzing images. This saves companies money and minimizes downtime when equipment breaks down, says Guido Jouret, chief digital officer of ABB, a Swiss power and automation company.
"An AI pilot project with one of the world's largest hydroelectric utilities showed a 10% reduction in routine maintenance and a 2% increase in output," he says. "These measures translate into millions of dollars in cost savings."...
Schneider Electric leverages Microsoft Corp.'s (MSFT) machine learning capabilities to monitor and configure pumps in the oil and gas field remotely since early detection of a pump failure can avoid weeks of the equipment being out of commission and repair costs of up to $1 million.
"Our customer Tata Power, India's largest power generator saved almost $300,000 on a single predictive maintenance catch," he says.
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