Research out this month from McKinsey suggests that by 2030, 70 percent of businesses will have adopted AI in some form or another — the five most common applications center on imaging, language translation, automation, robotics and advanced machine learning.
While we humans haven't figured out much when it comes to answering legitimate questions about data security, privacy concerns, decision bias and so forth, early forms of AI are producing concrete progress on a number of fronts — including applications related to energy management.
Early this week, AutoGrid — an AI company that helps companies such as National Grid, NextEra, Xcel, E.ON, Total and China Light and Power (CLP) optimize their power resources — snagged $32 million in late-stage venture funding. It works with seven of the 10 largest North American utilities. Did I mention it's on pace to have up to 5 gigawatts of power on its platform by the end of 2018? The new investors in this round include CLP, Innogy, Orsted and Tenaska.
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